Best USD Account

andrek on 01/03/2022 - 22:16
Last edited 01/03/2022 - 23:39 by 1 other user

Relatives are hopefully coming from Ukraine in the next few days. Rather than carrying cash I was thinking about opening an USD account where they could transfer money before catching the plane to avoid carrying $10k-$20k cash through 2-3 airports on the way.

Any recommendations which bank can do USD accounts?

Financial

Comments

  • Hybroid on 01/03/2022 - 22:18
    +6

    www.wise.com can setup a USD account and they can transfer straight away to it (or directly to your Australian bank account with best rates around).

    Hope they travel and arrive safe.

    • andrek on 02/03/2022 - 08:15

      Thanks, didn't know about this one, will take a look.

    • daft009 on 02/03/2022 - 13:56

      Definitely go wise

    • redfox1200 on 02/03/2022 - 07:10

      why would you buy usdt when its trading at a 5% premium, should be shorting it

      • rektrading on 02/03/2022 - 07:18
        -1

        Can't short a stablecoin.

        • redfox1200 on 02/03/2022 - 07:19

          you can arb it if you have access to both exchanges

      • popsiee on 02/03/2022 - 07:19

        Don't you know most goods on the planet are bought in USD ?

        • redfox1200 on 02/03/2022 - 07:20

          what has that got to do with usdt?

          • popsiee on 02/03/2022 - 07:36

            @redfox1200: People use it to buy goods every day like my sorry arse and don't speculate on where its going .

            • redfox1200 on 02/03/2022 - 07:38

              @popsiee: you buy goods with tether?

              its not speculation when you can buy an item for $1 and sell it immediately somewhere else for $1.05

        • rektrading on 02/03/2022 - 07:23

          Can people pay for goods with USD in Australia?

    • andrek on 02/03/2022 - 08:19

      Thanks for the suggestion, but I just can't recommend my family to put all their savings into crypto.

      • rektrading on 02/03/2022 - 08:46
        -1

        FYI stablecoins like USDT and USDC aren't crypto.

        They're permissioned tokens that are pegged to the USD.

  • Chewiebacca on 02/03/2022 - 05:06
    +2

    HSBC Global Money Account

    • andrek on 02/03/2022 - 08:14

      Thanks, I'll take a look today. That was my first option to investigate, I had an USD account at HSBC 15 years ago, but I think they've killed that product since then.

      • ozbjunkie on 03/03/2022 - 20:46

        Citibank account allows spot rate (or close to) currency conversions and with linked debit card allows you to withdraw money in whatever currency is local with minimal fees.

        Wise might be quicker to setup. Or easier.

        • andrek on 06/03/2022 - 07:46

          I had an HSBC account already so setting up Everyday Global took 5 mins

    • Rich82 on 20/04/2022 - 16:33

      If I say transfer USD from a US account to my HSBC global account will it show up in USD or do they convert it to AUD? I’m buying euros off my dad and wondering if I can transfer them to my HSBC account without them being converted over

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