I tried to open a USD$ account in the UK for money owed and being paid in dollars. As a frequent traveller to US$ countries it seemed a great way to save currency conversion costs. Lloyds refused my application and wouldn't tell me why. (Been a customer since 1976). Challenged it through my "Private Banker" and they would't tell him either. Money was received and converted to £.
It's amazing the change in attitude over the years, the contrast today in levels of service and their approach is quite marked. Back in the 70'80's when I was working for a US Conglomerate travelling the world, my expenses were in dollars and in the days before exchange control was lifted, back then you were restricted to £750 a year plus £50 per day if on business for foreign currency exchange. My weekly expense cheques were well in excess of the foreign exchange allowance, so the Bank used to keep my $ cheques at the branch and feed them thru for clearance as the allowance allowed, at one point they had over six months of cheques waiting clearance and on several occasions I had to send time expired cheques back to the US for them to issue a new cheques, Maggie Thatcher removed the exchange control restrictions so the problem went away. That was the level of service I received without question from a bank which today told me they didn't have time to look up our online record.........
