$US Bank Account from Australia?

BuggedOut

BuggedOut

Well-Known Member
Silver Stacker
I've been looking into getting a personal bank account in $US (for electronic trades/transactions) and while some Australian banks offer Multi-Currency and Alternate Currency accounts, they are often targeted at business clients only and/or have large deposit requirements and transaction fees.

Are there any Aussie SS members who have a good $US bank account in Australia, or can recommend a good overseas bank that can setup an account and be managed easily from Australia?
 
i have an acc in china bank syd
becuase rate is higher than other banks if withdraw in aud cash

but if withdraw in usd cash its very terrible too many troubles and processions
i have more usd than aud in paypal
so i need to exchange it
if exchange via paypal loss 4% on ratepaypal rate is very low
 
I have a US currency account through CBA. Has no minimums or fees but doesnt pay any interest.

HSBC have a milti currency option with no minimums. Citibank has one with 10k minimums.
 
I have a US currency account through CBA. Has no minimums or fees but doesnt pay any interest.
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This could be the ticket. Don't really care about interest in todays world of tiny interest rates. Just need somewhere to park $US while I move money around.
 
The other option for you is to get yourself set up with an account at Euro Pacific Bank - it's Peter Schiff's crowd: https://europacbank.com/

You will need to send them ID - certified copies are fine, but they do need to comply with "Know your customer" rules.

IMHO the advantage here is that it's not a commercial bank, with most of it's funds out on loans (say, to students and car buyers - take a look at ZeroHedge if that doesn't resound with you). Add to that, they run the account in USD or AUD or NZD or a few others of your choice, and they're not domiciled in the USA (who, according to a $17 trillion debt, might make bail-in an option).

Let me know if you have any questions, it's been a few years since I opened my account, but unless things have changed, I can probably answer any questions you may have :)
 
Sounds good Midnight Man. Is it a true "multi-currency" account (with balances for each currency) or can you convert/choose between them at will?
 
My apologies for the stupid question Midnight Man. I'm just reading the website now and (I can't believe I am saying this) I am actually a little bit excited by what I am reading. This really looks like my kind of bank!! :)
 
BuggedOut said:
My apologies for the stupid question Midnight Man. I'm just reading the website now and (I can't believe I am saying this) I am actually a little bit excited by what I am reading. This really looks like my kind of bank!! :)
Click to expand...

Now do some off site reading about it. :)
 
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