Best Way to Receive Money in USD

Hi all,

Two questions:

1) What's the best way to receive money from the U.S with minimal fees?

2) Is it possible to open an account in the U.S from Australia?

Bonus question: Do you think it's best to cash in now if you have USD or hold it?

Not crazy sums of money, but in the tens of thousands. Thanks in advance!

Comments

  • +8

    Transferwise allows you to open a US bank account.

    • Thank you. I made an account am getting sent the card, somehow found a workaround and don't have to top up with the $30 you usually have to.

  • -1

    "1) What's the best way to receive money from the U.S with minimal fees?"

    Bribing the government seems to be what the smart players do these days?

  • What's the best way to receive money from the U.S with minimal fees?

    Don’t send funds in FIAT.

  • Depends how many tens of thousands and the frequency.

    I'd recommend Worldfirst. They take a 0.5% commission on the mid-market rate for the major currency transactions (which includes AUD/USD) and if you start to do more than AUD$700k or so that number goes down to 0.25% commission.

  • +1

    Citibank Plus account is relatively straightforward and not too bad a rate. You can also add a Global Currency account and keep your funds in USD if that's what you want to do.

Login or Join to leave a comment