Quote:
Originally Posted by OICURMT
True points...
Exchange houses take about 3% (Travelex is currently at 1.0064). I tend to use my US brokerages to shuttle money back and forth. This way I can get the interbank rates, currently at 1.035/43 and get charged a small fee (1%).
If you don't have this option, you might want to consider opening an account with a money broker. I've heard of World First, but have not used them.
As for credit cards, you'll need a US address to apply for a CC in the USA. Should be easy enough, as US CC companies trip over themselves to get you to sign up...  . I've been with Citibank for over 20 years and their customer service calls me every year to see how I'm doing and if there's anything they can do to help me spend my money  . Citibank is one of the card companies that charge the lowest fees for international transactions (after they lost a class action suit I was in for gouging from 2000-2004. I got over $2700 back).
The dreaded CC is part of the reason the USA is in such bad shape. The GFC has forced a lot of lending companies to write off bad debt, so I don't know if there are new checks and balances in place for people who live overseas.
BTW: Crystal ball's are the last thing you need for FOREX trading... Steel are much more appropriate...  |
Thanks for the tip, I will check that out.
Cheers Peter