Converting your account to be denominated in USD
WhiskyInvestDirect accounts can now fund, trade and withdraw in US Dollars.
- If you have more than £5 in cash remaining in your account, you will first need to either spend it on whisky or withdraw it back to your linked bank account. After your account currency has been changed to US Dollars, you will not be able to trade or withdraw the small balance of pounds remaining in your account – instead they will be gradually consumed by the monthly storage and insurance fee.
- Scotch whisky is an asset which is denominated in GBP. All prices and valuations displayed in USD will have been converted from pounds before being posted on the website. The effect is that US dollar prices will be subject to fluctuations in both the value of the maturing whisky and in the value of the pound. They may be more volatile as a result.
- All accounts will be charged storage fees in GBP. If your account is denominated in USD, you will be charged an equivalent amount of USD based on the exchange rate at the time of billing.
- We are currently testing a new domestic US bank account with Wells Fargo but it is not yet available to receive client payments. Once this becomes available it will appear on our 'Deposit funds' page and US clients will be able to send domestic USD payments to WhiskyInvestDirect.
- In the meantime, to send US Dollars to your WhiskyInvestDirect account, you will need to make an international wire (or SWIFT) payment to our dollar-denominated bank account with Lloyds in London from your existing linked bank account. You can get the details by logging in to your account and going to ACCOUNT > Deposit funds, after your account currency has been changed.