US banks in the UK [2025 guide]
Financial services are important economic drivers for both the US and the UK, so it’s no surprise that many US banks have representation in the UK in London or beyond. However, it’s important to note that the services you can get from a US bank in the UK are likely to be quite different to those on offer at home. US banks operating in the UK are mainly targeted to corporate and institutional customers rather than retail customers – which means getting a UK account from a US bank may be harder than you expect.
This guide looks at some of the options for US banks in the UK – plus we’ll introduce alternative providers like Wise and Revolut if you want a US based account which lets you hold and handle GBP conveniently.
Quick summary:
| Provider | 💡 Great for |
|---|---|
| Chase UK | UK current and savings account options, with ways to invest – card services included which offer cash back on spending (UK resident customers only) |
| US Bank | Corporate finance products including trustee and administrative services for bonds and notes – for business and institutional customers only |
| Bank of America | Risk management and foreign exchange products, and services covering fixed income, credit and equities for institutional and corporate clients |
| Morgan Stanley | Corporate, sovereign, investor and institutional clients can access institutional securities services, credit, debt underwriting and other complex products |
| Wise | Personal and business account services with 40+ supported currencies including GBP and USD from a specialist digital provider |
| Revolut | Specialist provider offering personal and business account options on various tiers which offer 25+ supported currencies |
| OFX | Currency and payment specialist service with digital accounts for businesses and online sellers supporting 7 currencies including USD and GBP |
Can you have a US bank account in the UK?
While there are quite a few major US banks which have a physical presence in the UK, and which offer some UK based services, these options are usually limited to business and corporate level organisations. The exception is Chase, which has a UK digital bank which offers accounts for personal customers. However, if you’re not interested in the Chase UK products, or they’re not suitable for you, you’re likely to struggle to find a UK based account from a US bank.
As an alternative to manage your money in GBP from the US, you might find that a specialist provider like Wise or Revolut fits your needs better. These providers aren’t banks but they do offer safe and simple ways to spend, send, hold, exchange and receive currencies for day to day flexibility for yourself or your business. We’ll look at options like these a little later.
US banks in the UK
Let’s take a closer look at the US banks in the UK we featured earlier, and the types of service they provide.
Chase UK
Chase UK is a trading name of J.P. Morgan in Europe, and operates as a regulated digital account provider for retail customers in the UK. There are no physical branches but you can open a Chase account online or with your phone to manage your money and spending in GBP, as long as you’re a UK resident. While Chase is a US bank, you can not open a Chase UK account without providing your UK residence information – so this is not an option for non-UK resident customers.
Key services:
- Saving and checking accounts for retail customers, with investment options
- Card services which offer cash back on spending
- Digital account management for individuals
Can I open a Chase UK account in the UK?
You can open a Chase UK account if you are a UK resident and tax payer. If you are a Chase US customer moving to the UK you may need to close or transfer your existing account to a UK based product.
Does Chase UK have locations in the UK?
Chase UK is a digital bank which does not have physical UK locations.
US Bank
US Bank in the UK is aimed at large corporates and underwriters, and offers quite complex services rather than account or card products for retail customers. Generally you can’t open an account as a private individual.
Key services:
- Corporate finance including administering bankruptcies and successions
- Trustee and administrative services for bonds and notes
- Services for corporations and underwriters
Can I open a US Bank account in the UK?
You can not open a US Bank account in the UK as a personal customer. Services are for niche and large businesses only. If you have a US Bank account and move to the UK you will need to check with your local branch how to manage or close your account.
Does US Bank have locations in the UK?
US Bank does not publicly disclose UK locations online.
Bank of America
While Bank of America is a common choice for personal customers in the US, internationally, the services provided tend to be more around advisory and financial solutions for corporate customers. In the UK, Bank of America offers commercial and corporate clients services across foreign exchange, credit and trading.
Key services:
- Corporate and institutional banking services
- Mergers and acquisitions, risk management, and debt and equity solutions for large enterprises
- Advisory and thought leadership services
Can I open a Bank of America account in the UK?
Bank of America does not offer checking account services to personal customers. If you are a Bank of America customer in the US and move to the UK you may be able to maintain your account if you retain a US address – ask your local branch for advice on your options. Bear in mind that fees will usually apply if you use a US Bank of America account or card in the UK.
Does Bank of America have locations in the UK?
Yes. Bank of America has offices in London, Chester and Bromley in the UK. These offices are not for retail customers.
Morgan Stanley
Morgan Stanley is a large US investment bank, with branch and office locations in the UK. In the UK, you can’t open an account with Morgan Stanley as a personal customer, as services are aimed towards corporate, sovereign and institutional clients. There are some investment management services which may be accessible by high wealth individuals, but only through advisory services provided by a licensed financial advisor.
Key services:
- Investment Banking services such as financial advice, equity and debt underwriting, and financing
- Equities, Fixed Income and Commodities services for institutional clients
- Investment Management for institutional investors and retail investors working through licensed financial advisors
Can I open a Morgan Stanley account in the UK?
Personal and retail customers can not open a Morgan Stanley account in the UK. Services are offered to corporate, sovereign, investor and institutional clients only.
Does Morgan Stanley have locations in the UK?
Morgan Stanley has offices in the UK in Glasgow and London. Services are limited to eligible institutional customers.
International alternatives to banks
US banks in the UK tend to offer more services to large corporations rather than personal customers looking for flexible account services, or smaller businesses which need ways to manage money across currencies. Instead of opening an account with a US bank in the UK you may want to compare your options with these alternative services:
| Providers | Personal finance | For businesses |
|---|---|---|
| Wise | Multi-currency account supporting 40+ currencies, and account details in 20+ currencies for receiving payments Wise multi-currency card for spending and withdrawals | Services offered to personal customers plus batch payments, multi-user access, accounting integrations, API for workflow management and other business-specific features |
| Revolut | Choose from 3 different account plans which all support 25+ currencies including GBP and USD, with linked debit cards. Accounts have different features and fees – Standard plans have no ongoing charges | Choose from 4 different plans based on your spending and transacting requirements, from the Basic plan with no monthly fee to enterprise level products. All accounts support GBP and USD alongside other currencies. |
| OFX | Account services are not available – you can send payments and access currency risk management services only | All the features available to personal customers, plus Global Currency Accounts which support 7 currencies including GBP and USD to receive and hold. |
Wise
Wise offers free to open personal accounts to customers in the US which can hold and exchange 40+ currencies including USD and GBP side by side. You can also order a Wise Multi-Currency Card to spend and withdraw cash globally with low fees and the mid-market exchange rate.
Just add money to your account yourself in USD, or have someone send you a payment in USD, GBP or any of the other 20+ currencies supported for receiving, and spend as you go.
Currency conversion costs start from 0.57% and there’s no foreign transaction fee for card spending, only low conversion fees.
Wise also has business accounts which offer all the features of the personal account with a few key extras. You’ll pay a one time fee to open a Wise Business account, but on top of the benefits extended to personal customers you can also get perks like batch payments, multi-user access, accounting integrations, and a powerful API.
Can I open a Wise account?
Yes. You can open a Wise account in either the UK or the US. Wise Accounts are free to open.
While other transaction fees do vary a little depending on where you’re based, the features are similar, and the process to apply for your account is simple and all managed through your smartphone.
Learn more – How to open a Wise Account
Revolut
Revolut US offers personal accounts across 3 different tiers, allowing customers to select the one which best meets their spending needs. You can choose a standard account for no monthly fee, or upgrade to an account with ongoing charges and more perks. All accounts support 25+ currencies for holding, including USD and GBP, and come with cards for spending and withdrawals. You can exchange currencies on a weekday to your plan’s monthly limit with the Revolut rate and no extra fee. After this, fair usage charges apply.
In the US Revolut also has 3 different off the shelf business account options, and the choice for large enterprise level customers to create a custom made plan. Basic accounts have no monthly fee, while the higher tier Scale account offers more features for 119 USD a month. All accounts operate cross currency and come with card services.
Can I open a Revolut account in the UK?
Yes. Choose to open your Revolut account in the US if you have a residential address there, or in the UK if you have relocated. In both cases the services are similar, although the pricing may be slightly different.
Learn more – Revolut Review
OFX
OFX is a currency specialist which offers payment and currency risk management services for personal and business customers. Business customers can also open a Global Currency Account which holds USD and GBP alongside some other major currencies. You can get paid in foreign currencies conveniently to your account and send payments globally whenever you need to. There are no corporate card services for US or UK customers.
Can I open a OFX account?
Yes. If you are a business customer you can open a Global Currency Account with OFX in either the UK or the US. The fee structures may vary a little but in both cases you get access to 7 currencies including USD and GBP.
Learn more – OFX Review
Which US banks allow cross border banking with the UK?
If you need to send payments from the US to the UK you can do this using a bank wire. The funds are debited from your bank in USD and converted to GBP to be sent to the receiving account in the UK.
The same process is offered in reverse for incoming payments from the UK, which are deposited to bank accounts in the US in dollars. This process can be pretty expensive for both the sender and the recipient, so isn’t always ideal. Instead, having an account with multi-currency features may be more convenient.
US banks do not usually offer multi-currency accounts to customers, so receiving a payment without needing to also pay for currency conversion is not an option. If you need to be able to send and receive payments in multiple currencies, and also want ways to hold and balance in GBP and other currencies you may find a specialist service from a provider like Wise or Revolut are more suitable.
Best UK bank accounts for Americans
Few US banks offer account services across GBP and other foreign currencies for retail customers. You may find you can open an account to hold, save or invest a foreign currency like GBP, or you may be able to open a business account – but checking type services are less common.
If you need a flexible account for yourself or your business, to manage USD and GBP side by side, you may find your best option is a specialist like Wise or Revolut. These providers are not banks, but they offer multi-currency account services with linked payment cards which can help you keep down the costs of transacting internationally. Here’s a reminder of the account options we looked at earlier:
- Wise: Multi-currency account supporting 40+ currencies, and account details in 20+ currencies for receiving payments, as well as the Wise multi-currency card for spending and withdrawals
- Revolut: 3 different personal account plans which all support 25+ currencies including GBP and USD, with linked debit cards
- OFX: Global Currency Accounts to receive, hold and exchange 7 currencies including GBP and USD, for business customers only
Conclusion: Are there American banks in the UK?
There are American banks in the UK, but the services they offer are usually very different from the options you’ll find in a branch of the same bank in the US. US banks in the UK generally offer more products and services to corporate and institutional customers rather than providing checking or savings accounts to personal and retail customers. This can mean they’re not a good choice if you’re a US resident wanting to manage your money across GBP and USD simultaneously.
Wise and Revolut are not banks but offer multi-currency accounts to support GBP and USD alongside many other currencies, as well as card services, ways to send money, options to receive payments in local and foreign currencies and more. These providers can offer a great alternative to US banks in the UK if you’re keen on managing your money digitally, and with low fees and simple, intuitive service options.
