Foreign Currency Savings and Paypal?
Foreign Currency Account in Australia and paypal? Question Details:Is it possible to set up a foreign currency account with a bank in Australia which can dominate funds in USD? I also need another one in GPB, what are my options? Does Commonwealth Bank offer the services to its everyday customers (i.e. I don't want to open a business account)? I need a savings account, not a term deposit. I know HSBC or whatever they are called provide the services, but I already have an account with CBA so I don't want to open another account with another financial institution. Also with paypal (Australia), is it possible to add funds to your USD balance using your bank account dominated in USD or will it accept AUD only?
Public Comments
- Yes you can do that. Be wary of the tax implications. May end up paying taxes in both countries wiping out any gain. They have savings accounts and CDs for anyone.
