What's your prediction on the Australian Dollar?

[cove]

It is nice to see the AUD at .7025 and the jump in the U.S. stock markets tonight. Some corrections get overdone.

 

[Teal747]

Other currencies bank accounts in Australia and opening accounts in the USA

Has anyone "hoarded " overseas currency in an Australian Bank as I believe you can open foreign currency with local bank?
If so is it easy to take the money out just before going on holidays in the foreign currency (and are there charges?)

Also a further question
Is it easy for an Australian (living in Australia) to open a bank in the USA? (while on holiday here)

 

[drsmithy]

Re: Other currencies bank accounts in Australia and opening accounts in the USA

Has anyone "hoarded " overseas currency in an Australian Bank as I believe you can open foreign currency with local bank?
If so is it easy to take the money out just before going on holidays in the foreign currency (and are there charges?)

The risk you run is that foreign currency accounts are not protected by any of the Government deposit guarantees.

Also a further question
Is it easy for an Australian (living in Australia) to open a bank in the USA? (while on holiday here)

Can't help with this one. I opened mine when I was living and working there.

 

[Flashback]

No I believe, it's hard enough even when you first move there. Calling cove.....

 

[Foreigner]

Re: Other currencies bank accounts in Australia and opening accounts in the USA

Has anyone "hoarded " overseas currency in an Australian Bank as I believe you can open foreign currency with local bank?
If so is it easy to take the money out just before going on holidays in the foreign currency (and are there charges?)

Also a further question
Is it easy for an Australian (living in Australia) to open a bank in the USA? (while on holiday here)

Opening a foreign currency account with locak bank is a walk in the park. I've got both USD and EUR accounts. In the past SGD too but that was closed. Mine are business accounts and transfer of funds is easy. Each transfer costs me $12 but that would vary and be subject to negotiation between customer and bank.

 

[dajop]

Re: Other currencies bank accounts in Australia and opening accounts in the USA

Is it easy for an Australian (living in Australia) to open a bank in the USA? (while on holiday here)

I imagine opening a bank is not an easy undertaking anywhere. What with capital and legal requirements, compliance obligations, hiring staff, etc etc ..... ðŸ

 

[Foreigner]

Re: Other currencies bank accounts in Australia and opening accounts in the USA

I imagine opening a bank is not an easy undertaking anywhere. What with capital and legal requirements, compliance obligations, hiring staff, etc etc ..... ðŸ

Sharp eye!

(Business venture whilst on holiday)

 

[anat0l]

Re: Other currencies bank accounts in Australia and opening accounts in the USA

I imagine opening a bank is not an easy undertaking anywhere. What with capital and legal requirements, compliance obligations, hiring staff, etc etc ..... ðŸ

Try Switzerland.

Problem is you need a lot of capital (at least, much more than many commoners could just put up); just that you don't need to have the equivalent of a huge empire. Just a few rich clients under your wing as a good start. Also, if you want to avoid a lot of problems, do not accept any clients who are domiciled in the USA or UK.

 

[eric2011]

Re: Other currencies bank accounts in Australia and opening accounts in the USA

With the falling of the $USD and the down turn in travel to the states, is the prospect of my J to F upgrade request for SYD-LAX-SYD A380 flight in November getting better.

 

[Foreigner]

Re: Other currencies bank accounts in Australia and opening accounts in the USA

Also a further question
Is it easy for an Australian (living in Australia) to open a bank in the USA? (while on holiday here)

I presume you really asking about opening a bank account in the USA. Many summers ago I decided to open an account with Bank of America. Process was quick and to start off I deposited just $100 into the account. That amount was chewed away through account keeping charges in a matter of 18 months. If you do, keep in mind fees that may apply.

 

[Foreigner]

Re: Other currencies bank accounts in Australia and opening accounts in the USA

The Aussie lost some ground earlier today. Possibly a result of the Kiwi dipping following RBNZ decision today to cut interest rate. More here:

NZ dollar drops after rate cut

 

[Dr Ralph]

It is nice to see the AUD at .7025 and the jump in the U.S. stock markets tonight. Some corrections get overdone.

Its not finished yet as today is demonstrating.

 

[marki]

Fuel is expensive thanks to the 50c handle on the Aussie 1$

 

[Buzzard]

Re: Other currencies bank accounts in Australia and opening accounts in the USA

Has anyone "hoarded " overseas currency in an Australian Bank as I believe you can open foreign currency with local bank?
If so is it easy to take the money out just before going on holidays in the foreign currency (and are there charges?)

Also a further question
Is it easy for an Australian (living in Australia) to open a bank in the USA? (while on holiday here)

I've got US cash in my safe.

 

[cove]

Re: Other currencies bank accounts in Australia and opening accounts in the USA

We bought some U.S. dollars in this latest little rally.

 

[JohnK]

Re: Other currencies bank accounts in Australia and opening accounts in the USA

We bought some U.S. dollars in this latest little rally.

Which rally? It's been going down a while.

 

[cove]

Re: Other currencies bank accounts in Australia and opening accounts in the USA

.7075 felt higher than something with a 6 at the front of the exchange rate.

 

[Foreigner]

Re: Other currencies bank accounts in Australia and opening accounts in the USA

.7075 felt higher than something with a 6 at the front of the exchange rate.

Well, 0.7xx_ IS higher than 0.6xx_.

Let's see which direction the AUD tracks over coming weeks.

 

[Demon_fan]

Re: Other currencies bank accounts in Australia and opening accounts in the USA

Anyone able to tell me why we've had a spike in the currency against USD, GBP & EUR?

 

[amaroo]

Re: Other currencies bank accounts in Australia and opening accounts in the USA



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