i would like to convert some of my savings to foreign currency. is it as simple as getting an overseas account?
2006-08-20 06:59:40 · 5 answers · asked by nightbiscuit 1 in Business & Finance ➔ Personal Finance
go to your local bank and see if they have something called a financial advisor consultant. or go to the customer service desk and ask your question there. also ask if the IRS needs to know about it -- meaning do you have to report it on your taxes come April 15 in the US and do you have to fill out anything similar in the foreign country.
good luck.
2006-08-26 18:01:27 · answer #1 · answered by brilliantyetconfused 4 · 0⤊ 0⤋
Bank usually allows you to open a regular account in USD but with a minimum and it varies from bank to bank. And some may offer account in Pounds and other strong currencies. Check with your local bank and i would say USD is a safe bet.
2006-08-20 07:06:34 · answer #2 · answered by ES 2 · 0⤊ 0⤋
A large bank, like B of A, can convert your money to any currency, making this unneccessary. Check with your bank.
2006-08-20 07:05:32 · answer #3 · answered by helixburger 6 · 0⤊ 0⤋
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2016-11-05 05:58:35 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Why would you do that . You lose on the exchange and on re exchange when you pay USD. This is silly money management
2006-08-26 17:02:09 · answer #5 · answered by Anonymous · 0⤊ 0⤋