Bank account in other currency
 

Hi all,

The time to move is coming and we always have silly but important questions for us.

We have here in the UK savings in euros and dollars and we don't want to exchange everything in one go nor leave all the money here so we are wondering if we can open in australia a bank account in foreign currency (e.g. Sterling, euros & dollars)

Any other comments about advantages, disadvantages, rates etc. it would be really appreciated.

Cheers

Re: Bank account in other currency
 

Hi

Best bet is to do a search for bank account in the search button up above. This topic has been covered many times and you'll find a lot of good advice and information.

Also search google.com.au ie: http://www.hsbc.com.au/1/2/personal/...reign-currency


Best of luck with your move!

Re: Bank account in other currency
 

I am sure that it is just as easy to have foreign currency bank accounts in Australia as it is in UK. I cannot think of any advantages of moving the foreign currency accounts over, although of course you can shop around for a better rate, same as you could do within the UK.

Re: Bank account in other currency
 

Yes you can have foreign currency account in OZ. I've a sterling account with HSBC and I'm keeping it until exchange rates improve (hopefully).

Money from the sterling account can be transferred using internet banking to your A$ HSBC account using internet banking when required.