Hi all,
I'm thinking of opening a Citi Global Currency Account, to store some foreign currency for when we can travel overseas in the future. Seems to be fee free.
Does anyone have any experience with the account and let me know how easy or not, it is to use it?
Thanks
Yes, I have both citi plus account and ING.
AUD has risen recently, relative to JPY. Thinking of getting some JPY now to pay for stuff like hotel bookings later on. Might win / lose..hard to tell.
If you're speculating on whether AUDJPY will go up or down, maybe the question is, "what is the best investment to speculate on right now with that cash"? Which maybe is a different question to the one you are asking? Just a thought.
I just want to know how the citi Global account works! 😉
I believe there is a fee when converting been currencies or they will give you their exchange rates which is inflated so you won't win IMO
Their debit card uses the official MasterCard rates so heaps better
Thanks, I think they charge a spread that is pretty wide. Didn't manage to find the Mastercard rate, but AUD 1000 gets USD 714.60 but transferwise gets USD 727.13.
I was going to get transferwise to pay the fx to the account though, if that were possible?
hello so are there any real differences between GCA and Plus acc?
i can't tell !
https://www1.citibank.com.au/banking/bank-accounts/compare
Why do you need to store? Do you anticipate AUD falling?
You get the Mastercard rate when withdrawing from ATMs overseas with the normal Citibank Plus account. No fees charged by Citibank. However, in some countries the ATM operator will charge a fee. ING even rebates those (and uses Visa). I have both.