Is there an American Bank where you can....

[OSUBlazerfan]

deposit euros and not have them converted into dollars?

Sort of like a Euro checking account?

 

[SlyPokerDog]

deposit euros and not have them converted into dollars?

Sort of like a Euro checking account?

Why wouldn't you want them converted into dollars? The Euro is even weaker than the dollar.

 

[OSUBlazerfan]

Funny...but seriously, anyone know?

 

[Shapecity]

http://www.hsbc.com.au/1/2/personal/savings/multi-currency

 

[OSUBlazerfan]

http://www.hsbc.com.au/1/2/personal/savings/multi-currency

Unfortunatly thats for austrailia

 

[Shapecity]

Unfortunatly thats for austrailia

They offer it in the US also. HSBC is a worldwide bank.

 

[OSUBlazerfan]

They offer it in the US also. HSBC is a worldwide bank.

ok i will give them a call. the thing is, i didnt see it on their american site, thats why i think they dont offer it

 

[Shapecity]

ok i will give them a call. the thing is, i didnt see it on their american site, thats why i think they dont offer it

It will be treated as an offshore account. There's a monthly fee to have account. I think it's $25.00 or $35.00 per month.

 

[Shapecity]

If you don't mind my asking, what exactly did you want to do this for?

 

[OSUBlazerfan]

If you don't mind my asking, what exactly did you want to do this for?

Well its for my dad.... he is a little older and didnt really know how to research it.

He does trading in euros....and instead of keeping that money in europe in a bank somewhere, he wants it to be available here in the US

 

[Shapecity]

If he wants to eventually spend the Euros in the United States he will have to pay the spread the bank charges even if he has the HSBC offshore account. Unless he physically brings the money over and doesn't declare it.

 

[EL PRESIDENTE]

HSBC Premiere. 100k minimum balance. holla.

 

[EL PRESIDENTE]

This actually won't work though. You have to pay international transaction fee (3%) + a fee to exchange the money (1%) . even when you withdraw from an HSBC ATM you pay the fees I believe.

 

[Shapecity]

This actually won't work though. You have to pay international transaction fee (3%) + a fee to exchange the money (1%) . even when you withdraw from an HSBC ATM you pay the fees I believe.

If he wants to convert Euros into US dollars or US dollars into Euros there's no way to get around currency exchange rate fees if you have a bank involved. These accounts are for people who travel frequently or operate businesses overseas. This way you can access your Euro currency in Europe and US Dollars in the US and avoid the fees.

 

[MARIS61]

Why draw the attention of the IRS and DHS?

 

[BengalDuck]

find a broker who will have him use financial derivatives

 

[ehizzy3]

osu getting that drug money