There was a number of threads about this before, namely
To recap, in those forums it has been advised that people should use Transferwise in order to purchase the FX of your choice and have them wired to your Australian Citibank Global Currency Account so for example if you want to travel to Japan, the forum suggests using Transferwise to buy JPY and then send it to your Citibank Japanese Account in Australia.
Why do you want to do it? Best FX rate. Transferwise uses near spot rate but charges one fixed fee vs all others which can screw you up and down so a $100 TT can become effectively $50 in the end.
I can confirm to the citizens of Ozbargain community that not ALL currency can be purchased and deposited in this fashion.
For example, if I want to buy JPY, I would go to Transferwise website and start the purchase process but when entering the recipient, Transferwise does NOT provide facility for you to enter your SWIFT Code which means you cannot transfer your JPY into your Citibank Japanese Account.
Likewise for SGD, there is no SWIFT code field available for you to enter the details.
However, for USD, the option to transfer to your Citibank USD Account is available because the SWIFT field is available. So for USD dollars, yes, you can purchase the USD and send it to your Australian Citibank USD Global Currency Account.
This means the ONLY way you can load up your say, JPY and SGD accounts would be to purchase directly from the issuing bank which is, Citibank. You are locked to their FX rate which is to be honest, not that bad vs HSBC which is really bad. Or if you receive cheque in that currency, you can mail it to Park Street Sydney branch and it would be deposited into your JPY/SGD account.
I am hoping the OzB travel and financial experts here can enlighten more so we (especially me) would be better educated on how to do this cost effectively.