Source: https://rivet.global/blog/uk-usd-business-account
Published: 2026-07-12 · Updated: 2026-07-12 · By Alexia M.

# USD account for a UK company: dollar accounts explained

How a UK limited company holds US dollars: bank currency accounts, USD details with US routing numbers, when US clients can pay by ACH, and conversion timing.

## Key takeaways

- UK banks offer USD currency accounts that receive dollars by SWIFT, often with an incoming fee.
- US account details, with a routing and account number, let US clients pay by ACH or domestic wire.
- Holding dollars lets a UK company pay US costs, such as software and contractors, without converting twice.
- Converting when you choose, instead of on arrival, gives control over the rate and timing.

Google suggests "uk dollar account", "uk usd bank account" and the names of HSBC, Barclays, Chase and Revolut after "uk usd account". UK companies ask because a US client has just asked for their ACH details.

## Two kinds of dollar account

| | USD account at a UK bank | US account details |
|---|---|---|
| How US clients pay | International wire (SWIFT) | ACH or domestic wire |
| Cost to the client | Their bank's international wire fee | Usually low or free |
| Cost to you | Often an incoming fee | Usually none to receive |
| Speed | 1 to 3 business days | ACH 1 to 2 days; wire same day |

## Why US clients prefer ACH

Most American companies pay suppliers by ACH from their accounts payable system. An international wire is a manual exception for them, needs approval and costs a fee. A UK supplier with US details gets paid in the normal run.

## The conversion decision

A Manchester agency receives $18,500 and has $6,000 of US costs a month: software, ads and a contractor in Texas. If it converts every receipt to sterling and buys dollars back for costs, it pays two margins on $6,000 each month. Holding dollars avoids that.

## Accounting

Your accounts are in sterling, so dollar balances are translated at period end and gains or losses recorded. A consistent method keeps it simple.

## Paying into the United Kingdom: the local rail

| What | Detail |
|---|---|
| Local rail | Faster Payments |
| Run by | Pay.UK |
| Settlement | Seconds, 24/7; the scheme limit is £1,000,000, and each bank sets its own |

Bacs still carries most payroll and Direct Debits, on a three-day cycle.

Source: [Pay.UK: Faster Payment System](https://www.wearepay.uk/what-we-do/payment-systems/faster-payment-system/). Checked when this guide was last updated; the scheme's own page has the current figures.

## Where Rivet fits

Rivet gives UK limited companies US details in the company's name on the free Starter plan, for ACH and wires, plus EUR and GBP details on Growth. Convert at a rate shown before you confirm. Rivet is not a bank; regulated partner institutions hold the funds. See [USD account for a UK company](/blog/usd-account-for-uk-company) and [USD account details explained](/blog/usd-account-details-explained).

## Questions

### Can a UK company have a USD account?

Yes. UK banks and fintech providers offer USD accounts to UK limited companies. The difference is whether they come with US details for ACH or only an IBAN for SWIFT.

### What is the difference between a USD account and US account details?

A USD account at a UK bank holds dollars but is reached by SWIFT. US account details sit in the US banking system, so US clients pay them like a domestic account.

### Do I pay UK tax on dollar income?

Corporation tax is calculated in sterling, so dollar income is translated at the appropriate rate. Your accountant will use a consistent method.

### Should I convert dollars straight away?

Only what you need in sterling. Paying dollar costs from dollars avoids two conversions.