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!
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) 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.
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.
Transferwise allows you to open a US bank account.