Can a UK company have a US dollar account?
A UK limited company can hold US dollars, and there are two kinds of USD account. A currency account at a UK bank receives dollars by SWIFT wire. US account details, with an ACH routing number, let American clients pay you like a domestic supplier.
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Yes. A UK limited company can open a US dollar account and keep dollars as dollars. The more useful question is which kind of USD account, because the two common types behave very differently when an American client pays you.
What are the two kinds of USD account?
| USD currency account at a UK bank | US account details | |
|---|---|---|
| Where the account sits | A UK bank or UK payment provider | A US bank, in the company's name or for its benefit |
| Details your client gets | IBAN and BIC, sometimes a UK sort code | ACH routing number, wire routing number and account number |
| How a US client pays | International SWIFT wire | ACH transfer or domestic wire |
| Cost to the client | Often $25 to $50 per wire at their bank | Usually free by ACH |
| Arrival | 1 to 3 business days, intermediary fees possible | ACH in 1 to 2 business days, same day by wire |
The first kind is what most UK high street banks offer. The second is what most US clients expect.
Why does the difference matter to your client?
A US company's accounts payable team pays domestic suppliers by ACH in a batch run. Paying you by international wire means a separate process, a fee, sometimes an approval, and a form asking for SWIFT details they do not handle every day. That is enough to move your invoice to the bottom of the pile.
With US account details, you look like any other vendor on their list: a routing number, an account number and a name. Our guide to getting paid by US clients covers what their team asks for.
What about the money when it arrives?
If a UK company has no USD account, a dollar payment is usually converted to GBP when it lands, at the receiving bank's rate on that day. Banks typically add a margin of 1% to 3% to the mid-market rate. If you pay US suppliers or tools in dollars, you then convert back, losing the margin twice.
Holding USD lets you:
- Pay US costs from the same dollars, with no conversion.
- Convert to GBP when the rate suits you, not on arrival.
- Keep a USD buffer for client refunds or chargebacks.
See mid-market rate and FX markup for how the margin works.
What tax forms come with US clients?
Your US client will usually ask for Form W-8BEN-E, which confirms your company is foreign. Under the UK-US tax treaty, a UK company with no US permanent establishment can claim that business profits are not taxable in the US, so no withholding applies to normal service fees. Our W-8BEN vs W-8BEN-E guide shows which form you need.
Holding a USD account does not create a US tax obligation for a UK company. The company still reports its income in the UK in GBP.
What does a provider check before opening one?
Expect normal business verification: the company's Companies House record, the directors and owners, what you sell and who pays you. Providers also ask about expected volumes in each currency, because they monitor the account against that pattern.
How Rivet does it
Rivet gives registered companies USD account details in the company's own name, with ACH and wire routing numbers, on the free Starter plan. Growth adds GBP and EUR details, so a UK Ltd can take dollars from US clients, euros from EU clients and pounds at home, and convert between them from 0.50% on that plan.
Questions people ask
Do I need a US company to get a US dollar account?
No. A UK limited company can hold USD and, with some providers, receive US account details in its own name without a US entity.
Will my US client have to fill in a W-8BEN-E?
Usually yes. A US business paying a foreign company asks for Form W-8BEN-E to confirm the company is foreign and to claim treaty benefits, so it does not withhold US tax by default.
Is a USD account the same as a domiciliary account?
Domiciliary account is the term used in some countries, such as Nigeria, for a foreign currency account at a local bank. In the UK it is usually called a currency account or USD account.
Can I pay US suppliers from a UK company's USD account?
Yes. From USD account details you can pay US suppliers by ACH or wire without converting from GBP, and other suppliers by SWIFT.
Sources
Rashidatou writes Rivet's guides to how money moves between countries: the payment rails, what each one costs, and the account details a company needs to get paid in another currency. Every figure in Rashidatou's articles is traced to the scheme rulebook, the regulator or the provider's published price list, and those sources are listed at the end.
More from Rashidatou K. →This article is general information, not legal, tax or financial advice. Rules and fees change; check the sources above and the provider’s current terms before you act on them.
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