Anyone know about opening bank accounts in other currencies, specifically Euro or Pound, while in America?

Answer 1

Also, some banks have partnerships with other banks overseas so that you can use their ATM's without a surcharge. For example, if you have a Bank of America account, you can use it to retrieve cash without a fee at Barclays (UK), BNP Paribas( France), China Construction Bank (China), Deutsche Bank (Germany), Santander Serfin (Mexico), Scotiabank (Canada), Westpac (Australia and New Zealand).

As for opening an account directly in one of those banks, or another international bank in a foreign currency, I don't think you'd be able to. I believe you need a social security number or equivalent in whatever country you are opening an account.

Answer 2

I had no problem in the bank lobby at the New Accounts. But, if it were me, I would already have the dollars. Don't move more than $10k through an airport metal detector. Don't deposit more than $19,999 in cash transactions. Use a larger, nationwide bank such as Bank of America, Wells Fargo. Get a debit card with a Visa and/or MC logo on it. Ask about their minimum balance so you don't have to pay service charges. You have to show your passport.

If you want to do Investment Funds, forget about it. Most banks don't want to deal with paperwork involved with tracking your tax liability to your home country. That would take a special international bank.

Answer 3

It's pretty easy. Go to the bank web site and ask your instructions. Most people open accounts in Switzerland because there is no tax on capital gains. The Swiss Frank (CHF) stays close the EUR.

If you want to hedge currency there is one broker, I think it is called "Interactive Brokers" who do it all. This way you can leave your money in stocks and IRAs and still hedge. So if you were invested in stocks with an account value of 100K USD, you can trade that amount with EUR. Thats close to 1:1 leverage. Very safe. But be safe, they let you enough rope to hang your self. It goes up to 100:1. That means if you feel good about the EUR, having 100k USD you can buy 10 Million, then get up the next morning and all your money is gone.

Answer 4

yes use bank of America they have off branches i know in Germany because i use them and in other parts of countries .