I live in the UK and have a UK individual (not business) bank account only. I have done some remote work for a client in the USA and I have already agreed to their terms before work started which included a clause that I will be paid in USD.
If I have them pay the USD directly into my bank then I assume I am at the mercy of whatever exchange rate my bank decides, which I expect to be a very poor rate for me as they know I don't really have any choice.
But do I have a choice? Are there any other options open to me here? Can I choose to use a third party to do the currency exchange in order to find a better rate? How would that work exactly?
Just in case it's relevant, the sum I am exchanging is 4 figures.