How to receive USD payments in the UK [2025]
If you need to receive money in USD in the UK - as payments from others, a salary, or for freelance work, for example, you could have the funds deposited to a bank account or use an alternative provider like Wise or OFX.
Both banks and digital providers have their own pros and cons, and offer quite different features and fee structures. This guide walks through some basics to help you decide the best way to receive USD payments in the UK for your specific situation.
Quick summary: Receiving USD transfers in the UK
Questions | Answers |
|---|---|
⬇️ Can you get paid in USD in the UK? | Yes. Have USD paid to a local bank USD account or use an alternative provider like Wise or OFX which accept payments in USD, GBP and other major currencies. |
📁 Do I have to pay tax on money received from the US to the UK? | Whether or not you need to pay tax on money received from the US to the UK will depend on many factors, including the value and reason for the payment. Get professional advice if you’re unsure of your tax obligations. |
🇬🇧 How do I accept USD payments in the UK? | You can receive payments from others, or as a business get payments from PSPs and marketplace sites, in USD, in the UK. Either use a local bank USD account or consider an alternative provider like Wise or OFX. |
How to receive USD payments from abroad in the UK: Step-by-step
To receive a payment in USD in the UK, you’ll need USD account details, or SWIFT details which can be used to receive a USD wire transfer.
These account details aren’t usually available with a GBP account - instead, if a payment comes into your bank account in USD, it must be converted to GBP to be deposited, which might mean additional fees or unfavourable exchange rates.
This is where opening a specific USD or multi-currency account can help. Here’s a quick review of how to open an multi-currency or foreign currency account in the UK to get you started:
1. Choose a provider, and then download their app or head to their desktop site
Once you’ve picked a bank or specialist provider which meets your needs, you can most easily open your account online or through their app - just have your ID to hand for verification and follow the prompts.
2. Select the option to open an account and enter your personal and contact information
Online account opening is usually very straightforward and just requires some basic personal information, contact details and a few key things like your tax ID for legal purposes.
3. Upload an image of your ID and address documents for verification
All banks and online providers will have a verification process - this keeps your account and money safe and is required by law. The exact documents you’re asked for can vary a lot but usually a government issued ID and a proof of address, like a utility bill, is enough for personal customers.
4. If you have a multi-currency account you may need to open your USD account in the provider’s app by confirming you want to receive a payment
The process here can depend on whether you have a USD only account or a multi-currency account which supports incoming payments from many currencies. If you have a multi-currency account like Wise or OFX you’ll usually need to activate the USD balance function to see your USD account information - this is done in the provider’s app.
5. Your account details can now be used to receive incoming payments in USD
Now you’ll be able to get your USD account information - usually an account number and routing number - to give to anyone sending you money in USD.
What documents are needed to receive USD from abroad in the UK?
Usually banks, financial service providers and specialist money transfer services like Wise or OFX are legally required to check that funds, and particularly high value payments, have not been obtained illegally. That can mean that you or the sender are asked to demonstrate the source of the funds before it can be sent.
This isn’t as complicated as it might sound in most cases. If you’ve received a payment for a specific reason - a payout from an investment or will, or from the sale of a house for example - you’ll be asked to explain and prove where the money came from. Here are some common scenarios and the types of documents you might need:
Receiving USD from salary: You might be asked for recent pay slips, the salary section of your contract or a letter from your employer, as well as the last 3 months of bank statements to show the money being deposited if you’re moving salary savings from the US to the UK
Receiving USD after the sale of a property: You may need to provide the final sales contract signed by both parties, a letter from a solicitor, bank statements showing you received the money and proof the property has changed hands
Receiving USD from US investments: Prepare to be asked for things like investment certificates, contract notes, or statements, and bank statements showing you received the money
⭐ 4 ways for receiving USD payments in the UK: A comparison
There are many ways to receive money from the US in the UK with digital platforms, and with local and US banks. We’ll compare these providers in the table below based on USD core features - and there’s more on each of these options coming right up afterwards.
Provider | 🏦 Services provided | 💰 Fees for receiving money in USD | 💱 USD exchange rates | 🌍 Supported currencies |
|---|---|---|---|---|
Multi-currency accounts with debit card, for personal and business customers | ACH transfers are free, 6.11 USD fixed fee for USD payments via SWIFT and 6.11 USD fixed fee for receiving via wire transfers | Live mid-market exchange rate | 40+ currencies for hold and exchange, 20+ currencies to receive payments | |
OFX | Multi-currency accounts for business customers and online sellers | No fee | Exchange rate will include markup | 30+ currencies supported for hold, pay and receive |
Lloyds | Everyday international payments for personal customers Foreign currency account for business customers | £2 for payments up to £100 £7 for payments over £100 For USD foreign account holders: £0 for payments less than £100 £6 for payments of £100 or over | Exchange rate will include markup | Multiple currencies, including core currencies |
Barclays | Everyday international payments or a USD foreign account for personal customers | Free for payments less than £100 (or equivalent) £6 (or equivalent) for payments over £100 | Exchange rate will include markup | Multiple currencies, including major currencies |
*Details correct at time of research – 27th July 2025.
UK banks may offer USD banking services which are intended for cross border travelers and shoppers. These accounts hold USD only, although you might get preferential rates if you need to send money to or from your connected GBP account with the same bank.
Non-bank alternative providers like Wise or OFX offer multi-currency accounts which can prove more flexible, with a larger selection of supported currencies and easy ways to send and receive money globally. Here’s a quick summary:
Wise: Receive and hold USD alongside 40+ other currencies, spend and withdraw with a linked debit card, with mid-market exchange rates and no ongoing fees
OFX: For businesses and online sellers who are being paid by customers, PSPs and marketplaces in USD and 30+ other major currencies via the Global Business Account
Lloyds: Receive USD into a GBP account or hold USD directly with a business foreign currency account with exchange rate markups and standard international payment fees
Barclays: Receive USD payments into a GBP account or open a foreign currency account in USD or EUR available to personal and business customers, with fees for receiving larger transfers and exchange rate markups
Wise multi currency account
💡 Great for:Ways to receive USD and hold your balance in US dollars alongside 40+ other currencies, with mid-market exchange rates and no ongoing fees |
Wise account is available for personal and business customers in the UK, and can be used to receive USD payments using local account details or SWIFT details for incoming USD wires.
It’s free to receive an incoming USD ACH payment, but there’s a fixed fee for incoming USD wires, of 6.11 USD per transaction.
Wise accounts can hold and exchange 40+ currencies, with linked debit cards and ways to send payments to others in 160+ countries.
When you need to convert from GBP to USD or any other currency for that matter, you get the mid-market exchange rate with low fees from 0.48%. Some transaction fees can apply, depending on how you use your account - but there’s no maintenance fee or minimum balance to worry about.
Wise is great for: | Wise may not be for you if: |
|---|---|
✅ Available for individuals and businesses ✅ Excellent range of supported currencies including USD and GBP ✅ Receive USD ACH payments for free ✅ Mid-market currency exchange | ❌ 6.11 USD USD fee to receive a wire payment ❌ Some transaction and currency conversion fees apply |
🎯 Wise fees and limits | |
|---|---|
Fees to receive USD | Receive USD ACH payments for free, receiving USD wire payments have a 6.11 USD fee per transaction |
USD exchange rates | Mid-market currency exchange rates |
Incoming payment limits | There are no limits for receiving money into your Wise account and how much you can hold in your balance in the UK |
How to receive USD payments with Wise
Download the Wise app, or open the Wise desktop site
Register with your email address, and follow the prompts to enter your personal details
Upload your ID documents and proof of address for verification
Select ‘Balance’ and tap ‘USD’ to open your USD account
Your account details can now be used to receive incoming payments in USD
OFX Global Business account
💡 Great for:Business customers and online sellers who are paid by customers, PSPs and marketplaces in USD and other major currencies |
The OFX Global Business Account is a good way for business customers and online sellers to receive payments in USD in the UK.
Accounts support 30+ currencies for sending, receiving, holding and exchange, and can be used for direct customer transfers or through marketplaces like Amazon or PSPs like Stripe.
Accounts come with linked corporate cards with cashback on spending and zero-fee transactions in 30+ currencies. Customers can also choose between a fee-free standard account, a custom account with custom pricing or the Full Suite for £125 per month.
OFX is great for: | OFX may not be for you if: |
|---|---|
✅ Large, well known and trusted business account provider ✅ No fee to open or maintain a standard account, or for incoming transfers ✅ Accounts support 30+ major currencies including USD and GBP ✅ 24/7 phone line if you prefer to talk to someone about your finances | ❌ Not available for personal customers ❌ Exchange rates include a markup |
🎯 OFX fees and limits | |
|---|---|
Fees to receive USD | No OFX fee to receive a payment - some costs may apply when you convert between currencies |
USD exchange rates | Exchange rates may include a markup, when you convert in your account or to withdraw |
Incoming payment limits | OFX doesn’t impose maximum limits, meaning you can send as much currency as you need to. However, daily bank transfer limits may apply |
How to receive USD payments with OFX
Open the OFX website or app and click to sign up
Enter your personal and contact information
A team member will call to confirm your application and how to get verified
Once your account is verified, you can access local account details to receive USD payments
Lloyds account
💡 Great for:Personal or business customers who want to receive USD payments directly into a USD account held in the UK, or convert USD to GBP through their Lloyds account |
Lloyds Bank is one of the UK’s Big Five banks, with a long-standing reputation and wide branch network across the country. It offers options for receiving USD payments into personal or business accounts, with services designed for both everyday banking and international business needs.
Personal customers can receive international payments into their GBP accounts, but incoming USD will typically be converted using Lloyds' exchange rate with a margin added. If you're a business customer, you can apply for a Foreign Currency Account to receive and hold USD directly, without automatic conversion.
Lloyds is great for: | Lloyds may not be for you if: |
|---|---|
✅ Trusted UK high street bank ✅ Option to receive payments directly into a USD business account ✅ Online and mobile banking access ✅ Foreign currency accounts available for businesses | ❌ Not available for personal customers who want to hold USD — incoming USD to personal accounts will be converted to GBP ❌ Exchange rates include a markup |
🎯Lloyds fees and limits | |
|---|---|
Fees to receive USD | £2 for incoming payments up to £100 £7 for incoming payments over £100 Free for business foreign currency account holders receiving payments below £100 £6 for payments of £100 or more |
USD exchange rates | Includes a markup on the exchange rate |
Incoming payment limits | Lloyds doesn’t publish an upper limit for incoming transfers |
How to receive USD payments with Lloyds via banking app
Log in to your Lloyds mobile app
Select the More option from your account.
Choose Send bank details and select Send international details
Choose the preferred messaging app you wish to use to send your banking details
Select who you want to send your banking details to, including your account number, SWIFT/BIC and IBAN, from your list of contacts.
How to receive USD payments with Lloyds via mobile banking
Log into your Lloyds online account
Select an account
Choose View IBAN/BIC
Provide your account details to your sender
Barclays account
💡 Great for:Customers who want to receive USD into a Barclays account and either convert it to GBP or hold the balance in USD (for eligible accounts) |
Barclays supports incoming international payments in USD to both personal and business accounts. Personal customers can open a foreign currency account in USD to hold the balance directly. Without a foreign currency account, incoming USD will be converted to GBP using Barclays’ exchange rate, which includes a markup.
The Barclays Foreign Currency Account is available in either Euros or USD, but doesn’t come with a linked debit card.
Barclays is great for: | Barclays may not be for you if: |
|---|---|
✅ Reputable UK banking provider ✅ Foreign Currency Account available for personal and business use ✅ Free incoming payments under £100 ✅ Supports 18 major currencies | ❌ Limited account functionality (no card, cheque book, or overdraft) for foreign currency accounts ❌ Exchange rates include a markup |
🎯Barclays fees and limits | |
|---|---|
Fees to receive USD | Free for incoming payments less than £100 (or equivalent) £6 fee for payments over £100 (or equivalent) Charges may apply if intermediary banks are used in the SWIFT network |
USD exchange rates | Exchange rates include a markup |
Incoming payment limits | Barclays payment limits for incoming transfers hasn’t been publicly disclosed |
How to receive USD payments with Barclays
Log in to your Barclays online banking or contact your branch
If you have a Foreign Currency Account, provide your sender with the correct USD account details
For standard GBP accounts, provide your SWIFT (BUKBGB22), IBAN, full name and address and the amount and currency you’d like to receive payment in
Agree with the sender who’s going to pay the charges
What are the fees and taxes applicable for receiving USD from abroad?
The fees which apply to receive USD from abroad can vary a lot depending on the provider or bank you pick and how the transfer is set up. If you’re using a bank, costs can include:
💰 SWIFT fees - these are paid to banks which help move the money to your account and will be deducted from the final amount deposited
⬇️ A receive fee - your own bank could take a fee when the money arrives, which may vary depending on whether the transfer is an ACH, wire or a different payment type
SWIFT fees could be 30 USD - 50 USD depending on the transfer details, and the sender might not know in advance what the costs will be in the end. That means you might get less than they expect. The receive fee should be made clear by your bank - this can be anything from free for transfers under £100 to up to £7 per received USD wire transfer for the banks we profiled earlier.
Specialist online providers like Wise and OFX offer local account details which means your sender can use a local payment method like an ACH to send your money. This may be offered by a bank - but not always.
Local payment methods like ACH are cheap for the sender, cut out SWIFT fees, and providers like Wise and OFX don't charge for these transfers as they arrive in your account.
What is the limit for receiving payments in USD?
The person sending you money may have a limit on the value of payment they can send depending on the provider they pick. This limit may be increased by talking with the manager if the sender is using a bank to send the payment.
Aside from limits imposed on the sender, there may be a limit to the amount you can receive to your account - but these limits are often set very high to allow most customers to transact fairly freely:
🎯 Incoming transfer limits | |
|---|---|
There are no limits for receiving money or how much you can hold in your balance in the UK | |
OFX receiving limits | Generally, OFX has no limits on the value of transfers - double check before you receive a high value payment, as rules can vary depending on the specific situation and payment |
Lloyds receiving limits | Lloyds does not state a specific limit when receiving international transfers |
Barclays receiving limits | Barclays doesn’t state a specified limit on how much money you can receive from an international transfer |
💡 Important things to know before receiving money from the US
If you receive a payment in USD to a GBP account it will be automatically switched to British pounds with the bank's exchange rate. Compare different providers and banks to open a USD denominated account or a multi-currency account, to avoid unnecessary currency conversion
Check the bank or local account details you give to the sender to make sure they have everything they need to process the transfer safely such as an account and routing number
Ask the sender how they’ll structure the payment, and get them to check if any SWIFT fees will be deducted - if they are, you might be better off with an account from a specialist like Wise or OFX which provides account details to receive local USD transfers
Gather the documents needed to prove where the money has originated from if you’re sending or receiving a high value transfer
Is it necessary to declare money received from the US?
Whether or not you need to report payments you receive from the US will depend on the value and the reason for the payment. If you’re receiving income the chances are that this will need to be declared just like any other salary or income from British sources. Gifts may be treated differently but this will depend a lot on the value - get individual tax advice to make sure you're not falling foul of the law accidentally.
Conclusion: Best ways to receive USD payments in the UK
Customers in the UK can receive USD payments to a local bank USD account or use an alternative provider like Wise or OFX which accept payments in USD, GBP and other major currencies. Bank USD accounts are available from major local providers and aimed at cross border travelers and investors. Specialist alternatives like Wise and OFX are often cheaper and more flexible.
Get paid in USD in the UK to a specific USD account or a multi-currency account which offers USD balance services
Fees on USD payments can vary a lot and may include SWIFT fees and costs from your own bank
Incoming wire payments may have a fee, but providers like Wise and OFX offer local details to get paid by ACH
Remember to check the tax status of any payment you’re receiving to avoid getting into legal difficulties or failing to pay tax owed on income.