$USD Term Deposit Rates in Australia

L

Lovey80

Well-Known Member
Anyone know where I can get a comparison of the current rates for USD term deposit accounts in Australia?
 
Agreed.

I haven't looked at term deposits, but when I was setting up a regular USD savings account in Australia the best I saw was 0% (not that I cared to look to hard - lower fees was more important to me)
 
BuggedOut said:
Agreed.
I haven't looked at term deposits, but when I was setting up a regular USD savings account in Australia the best I saw was 0% (not that I cared to look to hard - lower fees was more important to me)
Click to expand...

Yep, I get no interest on my two USD accounts. But they are savings accounts, not term deposits.
 
screaming eagle said:
https://www.citibank.com.au/australia/pdf/Term_Deposit_ForeignCurrency.pdf
Click to expand...

A rocking 0.42% for 12 months! :rolleyes:

You'll pay many times more than that with the banks horrible conversion rate.
Banks are the worst possible place you can convert your money.

Actually, I just checked, and Citibanks rates are way better than Commbank, but still pretty bad.
http://www.citibank.com.au/aus/investments/forex-rates/AUD.htm
https://www.commbank.com.au/personal/international/foreign-exchange-rates.html
 
SilverDJ said:
You'll pay many times more than that with the banks horrible conversion rate.
Banks are the worst possible place you can convert your money.
Click to expand...

Pretty sure last time I checked that Paypal was the absolute worst for FOREX Margins, bar none.

Completely captive market I am afraid, so they do what they like.
 
Why not take your AUD to the bank, swap for USD and wait...USD rises you win big time>

Regards ERROL 43
 
Monsta said:
SilverDJ said:
You'll pay many times more than that with the banks horrible conversion rate.
Banks are the worst possible place you can convert your money.
Click to expand...
Pretty sure last time I checked that Paypal was the absolute worst for FOREX Margins, bar none.
Click to expand...

Nope.
Currently:
Paypal is 0.6797
Commbank is 0.6640 for cash

and as a comparison, a good online broker like Currencyfair.com is 0.6956
XE.com shows 0.6986
 
errol43 said:
Why not take your AUD to the bank, swap for USD and wait...USD rises you win big time>
Click to expand...

If you did that at the Commbank then the AUD would have to fall almost 7% before you break even because of their horrible rates.
 
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