I am back in Aus for a little while in April, so I will inquire about this HSBC account. If I move to them, then I will want to do all my banking with them... so hopefully I can link a VISA debit card with the multi currency.
Those Citibank and HSBC accounts are rubbish, the FX rates are terrible and if you want service outside of the country you have set up the account in person at a bank they won't want to know you unless you have a citibank gold or HSBC premier account. These accounts minimums in the $200K range, (sometimes alot less in developing countries) and offer you zero interest on the balance, the cost of not investing that money essentially means you are paying thousands of dollars a year for reasonable customer service overseas. Dabloodymess have you considered opening an account with a broker like Interactive Brokers? It looks like they service Russia, so you have can convert your rubbles to USD/EUR gold etc
I just remembered this thread today an thought I would update. I gave up on a Singapore of HK account and am taking the risk of keeping a big pile of roubles right now. My salary is denominated in euros but paid in rouble. They fix the EUR/RUB exchange every three months. So far this has worked brilliantly for me as they fixed it at 74RUB in September and it has since dropped to around 68RUB, while I continue to be paid at the higher rate. The interest rate for savings is also 9% at the minute. Because I am not talking massive amounts of money, a guaranteed 9% seems worth the risk of keeping it here... for now. I am actually quietly confident that the rouble exchange rate wont get too much worse in the short term and there is the possibility of it getting significantly better if they sort out the Ukraine mess and Europe lifts sanctions. On a related note, I have received possibly the best service I have ever had from a bank opening accounts here in Russia. Representatives from Citi came out to my workplace to do all the paperwork etc. I have yet to set foot in one of their branches. Decent online system as well and free real time text alerts whenever a charge is made to my account.
I would want to currency hedge a little still, but at event prices the Rouble doesn't seem like a terrible bet. You might look into some of the more interesting Russian stocks on offer as well, with FDI fleeing the country there are apparently some great bargains to be had. In some resource stocks (a globally depressed sector anyway) it's the greatest opportunity since the oligarchs bought giant zinc, titanium, gold and oil reserves for kopeks on the Rouble vs fair value. Just a thought. With the sanctions I'm not sure whether there are rules preventing this but it's something to think about.
I hadn't actually considered Russian stocks, as you suggest I think that given the current climate there could be quite a few bargains. Obviously, it will take a lot of research on my part as I am very unfamiliar with the Russian market. The worst thing I could do right now is rush in looking for a bargain and make a big mistake. Having a look at some Russian brokers it seems that the registration process is still a bit Soviet, but should be achievable
