Best mechanism for Temporary storage of USD

[eltax91]

Hi guys

I worked for a US based company who gave me some shares in lieu of a pay rise a couple of years back. These have now matured and during the pandemic rose in price quite a bit. I sold them and have about 3000 usd sat in a fidelity account.

If all goes well next Easter we will look to take a trip to Disney. Seems to me that taking the cash out of $ and into £, only to buy dollars with it next year is a bit silly.

I’d like to treat this as a ‘fk it’ fund whilst away. Disney is a trip of a lifetime for us, and I’d like to surprise my wife, whilst she’s budgeting the trip, by using this cash to do all the things on the ‘nice to have’ list whilst we are there. Stuff she would never justify but now we can do.

Anyway, what’s best to do with it for 12 months? With one eye on being able to spend it on some kind of credit card when I’m there. Or draw some or all of it in cash relatively cheaply if needed.

I bank with Halifax and have a Monzo account. Is the best bet someone like revolut, or should I just be using transferwise for a cheap transfer and hope the currency rate goes in my favour?

[CharlesElliott]

I can't help on the others, but I have a Revolut account and can hold USD / EUR / GBP without issue and dynamically convert (if I want to) - or manually convert at a particular time.

I also transfer cash as result from stock sales in a Fidelity account to my Revolut USD acount without any issues / charges - it takes about 3 days.

Edited by CharlesElliott on Saturday 10th April 19:28

[supersport]

I have a Transfer wise now Wise account that lets you hold various currencies along with a card for spending it.