Multi-currency accounts for US citizens
Multi-currency and money-transfer accounts mostly open for US citizens, and they are often the cleanest way to hold dollars and pounds in one place. They also count toward your US reporting.
A multi-currency account holds balances in several currencies and moves money between them at close to the real rate. For an American in the UK that solves a daily problem: paying or being paid in both dollars and pounds without bleeding money on conversion. The transfer specialists generally accept US persons, where a traditional bank might not.
The reporting follows the balance. Each currency wallet is a foreign account to the US, and the combined total feeds straight into your FBAR once it crosses the $10,000 line at any point in the year. It is reporting, not a tax; the account stays useful, you just file.
See the FBAR for what counts toward the threshold and FATCA for the status check at sign-up.
Who accepts US citizens
Last checked 27 June 2026| Provider | Verdict | What to know | Last checked |
|---|---|---|---|
| Revolut UK | Opens | Offers a multi-currency account and card to US persons; Revolut UK is an electronic money institution. | 27 June 2026 |
| Wise | Opens | Opens for US citizens and residents, with more than 40 currencies; Wise is an electronic money institution, so balances are safeguarded rather than FSCS-protected. | 27 June 2026 |
| Charles Schwab (High-Yield Investor Checking) | With strings | Strong for US persons abroad, with ATM rebates and no FX fee, but the account requires a US address to open. | 27 June 2026 |
| HSBC Expat | With strings | Provides multi-currency and international banking, but expects a minimum balance around 50,000 pounds. | 27 June 2026 |
Provider by provider
Revolut UK
OpensOffers a multi-currency account and card to US persons; Revolut UK is an electronic money institution.
Source on file; last checked 27 June 2026.
If momo earns a commission when you open an account with Revolut UK, it is disclosed here. Partner links are not active yet, so this slot earns nothing and changes no verdict.
Link inactiveWise
OpensOpens for US citizens and residents, with more than 40 currencies; Wise is an electronic money institution, so balances are safeguarded rather than FSCS-protected.
Source on file; last checked 27 June 2026.
If momo earns a commission when you open an account with Wise, it is disclosed here. Partner links are not active yet, so this slot earns nothing and changes no verdict.
Link inactiveCharles Schwab (High-Yield Investor Checking)
With stringsStrong for US persons abroad, with ATM rebates and no FX fee, but the account requires a US address to open.
Source on file; last checked 27 June 2026.
If momo earns a commission when you open an account with Charles Schwab (High-Yield Investor Checking), it is disclosed here. Partner links are not active yet, so this slot earns nothing and changes no verdict.
Link inactiveHSBC Expat
With stringsProvides multi-currency and international banking, but expects a minimum balance around 50,000 pounds.
Source on file; last checked 27 June 2026.
If momo earns a commission when you open an account with HSBC Expat, it is disclosed here. Partner links are not active yet, so this slot earns nothing and changes no verdict.
Link inactiveWhy this is the rule
FBAR
If your foreign accounts top $10,000 combined at any point in the year, you file an FBAR. What counts, when it is due, and what happens if you miss it.
TaxFATCA
FATCA makes UK banks report accounts held by US persons to the IRS. It is not a tax; it is a reporting trail. Where it bites is access.