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USD bank account with Iban

mentalmind

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Mar 4, 2019
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I am looking for a bank or EMI that can offer USD account with Iban, ideally in EU reigion (or can offer EU Iban). I have Transferwise borderless account but they only offer Swift info for USD currency. Revolut offers Iban with USD balance but benefiecary name is Lloyd's bank. The bank I work with wants an account like this as 'reference account' so they will accept/send money from/to my name only. I am an EU resident and I can't think of anyone offering service like this.

Thank you!
 
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IBAN aside basically for most non-US EMI's and banks US regulation makes working with USD extremely difficult and restrictive. Ask large EMI's like Transferwise or Revolut that have restrictions on their use of USD that they don't have on other currencies. Even large banks have problems with USD and correspondence banking like BOV that is loosing all USD ability end of year...lol.

If you just need inbound USD IBAN for first party wires then try a broker like Internaxx that offers it. Otherwise as a non-US person its best to stay well away from USD unless you have a super strong reason to use it.
 
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Most EMIs don't do USD because it's just too much trouble for them. It's actually a problem for regular banks as well, even big banks can just lose a correspondent bank and lose the ability to do USD transfers for months...

A regular bank inside of the IBAN system will open you an USD account without problem (note that IBAN system countries are larger than SEPA countries and those are in turn larger then Eurozone countries).

And even then, when you have an USD account inside of the Eurozone, it doesn't help you much. Euro (SEPA) payment? Easy, sometimes can be even received instantly within minutes across two different countries. USD payment (wire)? Prepare to wait 2-3 days or even more, prepare to provide recepient's detailed address and even then it may be blocked.

I heard from a friend that he was sending money in USD from Germany to Russia. This payment was blocked by the US because the recepient's name was similar/identical to some Russian guy on some blacklist. So imagine that, you are sending money from country A to country B and United States intervene because they don't like that!

I hope this system of USD reserve currency and correspondent banks dies and something like crypto replaces it.
 
If you just need inbound USD IBAN for first party wires then try a broker like Internaxx that offers it. Otherwise as a non-US person its best to stay well away from USD unless you have a super strong reason to use it.


Hi Martin,
I too have faced many unexpected issues with getting a USD account for my company. Without repeating a lot of the similar experiences again. I have a important need to get a USD account where I can use to receive incoming USD Swift and also send outward USD. Transferwise limitations are frustrating and understand that its the US which is dictating a lot of the elements.
Short of setting up another company and considering USA Delaware or another location I cannot see how I can get an USD account as needed. I noticed in this post reply you mentioned Internaxx. I checked and they are brokers for trading in stocks/shares etc. I dont feel in my case I could use them as the account may not be in a company name as I require.

A lot of time has been spent with a broker or business agents (including some from this site) in order to get a facility of a USD account. None came to fruition. I have paid for services and been left without solutions (IE bank account).

Any suggestions or directions to look towards. ?

Thanks

HK
 
We are in a day and age where getting USD accounts in your name is nearly impossible

It’s largely due to the intermediary banks not wanting to clear the USD payments

What is your business - is it 100% Vanilla ?