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Bank accounts in foreign currencies?
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nonhuman
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Aug 9, 2007, 01:22 PM
 
Is it at all possible to, as a US citizen and resident, keep my money in some other currency (Pounds Sterling, Euros, Canadian Dollars, Australian Dollars, whatever) and still have the convenience of a local bank?

Currently I do pretty much all my banking through online banks (Emigrant Direct and ING Direct), so the idea of not having a physical branch to go to doesn't bother me as long as there's an easy way to get to my money (transfers in from a free checking account at a local bank and an ATM card is what I currently do).

From what I can tell, all the online banks require you to be a permanent resident of wherever they are. I've only found one (http://everbank.com/) that lets you use foreign currencies, and that's only for CDs which isn't what I'm looking for at all.

Anyone know anything about this?
     
Cold Warrior
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Aug 9, 2007, 01:36 PM
 
Sberbank, the state bank of Russia, lets you keep it in Euros, although I don't know what their residency requirements are, or if they have an online banking option. If you ever work or want to work for the US feds in a sensitive position, money in foreign currencies in foreign or offshore banks will draw serious scrutiny -- just my 2 cents to avoid a future headache and/or denial of a job in defense/security positions.
     
nonhuman  (op)
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Aug 9, 2007, 01:47 PM
 
Don't think I'd really trust my money to a Russian bank. Also not sure I'd ever want to work for the feds (although a political career has crossed my mind from time to time).
     
Nivag
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Aug 9, 2007, 03:50 PM
 
I think Barclays in the UK do online banking for multiple currencies.

Home – International Personal & Premier Banking – Barclays
     
Doofy
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Aug 9, 2007, 04:50 PM
 
Originally Posted by nonhuman View Post
Is it at all possible to, as a US citizen and resident, keep my money in some other currency (Pounds Sterling, Euros, Canadian Dollars, Australian Dollars, whatever) and still have the convenience of a local bank?

Currently I do pretty much all my banking through online banks (Emigrant Direct and ING Direct), so the idea of not having a physical branch to go to doesn't bother me as long as there's an easy way to get to my money (transfers in from a free checking account at a local bank and an ATM card is what I currently do).

From what I can tell, all the online banks require you to be a permanent resident of wherever they are. I've only found one (http://everbank.com/) that lets you use foreign currencies, and that's only for CDs which isn't what I'm looking for at all.

Anyone know anything about this?
Try Credit Suisse, or have a word with these guys:
http://switzerland.isyours.com/e/banking/index.html

There's also Panamanian accounts available provided you can get down there to open one.
Been inclined to wander... off the beaten track.
That's where there's thunder... and the wind shouts back.
     
Andy8
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Aug 9, 2007, 07:34 PM
 
Get on a plane and come here.

Most of the retail banks here will let you open a multi currency account which you can maintain online.

HSBC

Hang Seng Bank (Which is owned by HSBC)

Both of these have very good online banking features. There are a lot of other retail banks here so lots of choices.
     
All_Insane
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Aug 9, 2007, 11:08 PM
 
Up here in Canada, I have a US account through a Canadian bank. I amassed some US currency at a decent exchange rate, and deposited it into a US savings account, (thinking the Canadian dollar would drop soon.) I can withdraw or deposit at any time, although since its a savings account, the per-transaction fees are rather too high for use as an everyday account. My account is through Royal Bank, although I think most major Canadian banks (Toronto Dominion, CIBC, etc) offer the same.
     
Paco500
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Aug 10, 2007, 07:02 AM
 
I have an account with Lloyds TSB Offshore that I was able to open from the US via the mail without a UK address. They do USD, GBP and Euro accounts. They do internet and phone banking and have relationships with some physical US based banks.
     
moonmonkey
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Aug 12, 2007, 09:26 AM
 
As a foreign citizen you can open an HSBC Powervantage account in Hong Kong.
You can save in any/multiple currencies.

Despite its name HSBC is an English company.
( Last edited by moonmonkey; Aug 12, 2007 at 09:35 AM. )
     
Super Mario
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Aug 12, 2007, 09:41 AM
 
Citibank. Other banks will charge you crazy amounts for multiple currencies and make it hard to withdraw from any of your accounts from international ATM machines. Citibank is the only good solution. You can make transfers between currencies in real time and access your money from any currency account with your ATM card. Citibank offers a wide range of currencies.
( Last edited by Super Mario; Jan 10, 2018 at 03:03 PM. )
     
OreoCookie
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Aug 12, 2007, 11:30 AM
 
SuperMario is dead on: CitiBank!
I've switched from `my other bank' to CitiBank before I left for Japan for that reason: I received two scholarships -- one in Yen, another in Euro. With CitiBank, you can withdraw money with your ATM card at no charge and check your balance (well, you can do that online, too). So far, it has worked flawlessly for me in Japan, Italy and the US.

(A funny note: the closest CitiBank ATM is in a 7/11 on my street )
I don't suffer from insanity, I enjoy every minute of it.
     
nonhuman  (op)
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Aug 12, 2007, 11:51 AM
 
Cool, I didn't know that about CitiBank. Will check them out.
     
moonmonkey
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Aug 12, 2007, 09:37 PM
 
they are the biggest bank in the world.
     
turtle777
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Aug 13, 2007, 02:32 PM
 
Originally Posted by moonmonkey View Post
they are the biggest bank in the world.
But how much longer ?

Bank Of America World is catching up quickly

-t
     
Trygve
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Aug 14, 2007, 08:16 PM
 
eBanka in the Czech Republic allows anyone to open an account for which you get a single account number, but up to 10 currencies (USD, EUR, CZK, CHF, GBP, YEN and four other smaller European currencies). Conversions between currencies are easy and if doing more than about $10K USD you can call for preferred rates.
     
Trygve
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Aug 14, 2007, 08:21 PM
 
Where does CitiBank list their multi-currency account options? I don't see it listed.
     
   
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