US Dollar Bank Acc

Hi all

I am looking to open a US dollar current account either in Ireland or offshore. I am pretty new to this things in this area so I am looking to lean.

I have not seen any posts on this forum for 2012 on this issue so apologies if it is something that is re hashed too much.

I understand that some Irish banks have steep charges on US dollar accounts (3% per deposit)? Who has the most favourable rates at the minute in Ireland?

Offshore, what obstacles are stopping me from opening an offshore US Bank account and why does everyone not do it instead of using banks with higher rates in Ireland?

Are there any pitfalls/hidden charges to opening a US dollar account?

Thanks

BoI, AIB, PTSB, Investec and others offer USD accounts.

USD accounts pay very low interest rates. The FED base rate is zero to 0.25% while the ECB base rate is currently 0.75%.

A good .

A USA based, USD account can be opened by a RoI resident, with TD Ameritrade.

Most USD accounts have zero fees. However, watch the FX rate and use a third party for FX conversion such as Currency.ie.