Information for traders from the
United Kingdom

Banking in US Dollars

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Wise

I recommend opening an account with Wise.com.  You get a free USD account with full US Bank Account details.  Accepting payments via ACH is free and the exchange fees to Pounds Sterling are among the cheapest.

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You need to deposit an initial £20 to setup the account, but you can withdraw this afterwards. 

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If you sign up using this link, your first £500 transfer is fee free.

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Earn2Trade offer payouts via PayPal, but I would not recommend this due to PayPal's exchange fees and poorer customer service.

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W-8BEN

Before receiving payment, the broker will have you fill out a form called W-8BEN for tax purposes.

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Notes

2 Country of citizenship: United Kingdom

3 Country: United Kingdom

6a. Foreign tax identifying number: Your National Insurance Number

6b. Check if FTIN not legally required: Leave Blank

7. Reference number(s): Leave Blank

8. Date of birth: Remember the American format is MM-DD-YYYY.

9. Resident of: United Kingdom

10. Special rates and conditions: Leave Blank

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United Kingdom is the Sovereign country.  Do not write England or UK.

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I've signed the form using Adobe Acrobat's digital signature, and this was accepted.  This is more secure than pasting a scan of your signature, so I recommend using this method.

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