moebius
Mar 29th, 2006, 10:11 AM
Was asked before, but I am still not sure what the best option is to transfer larger amount of euros from foreign bank.
1) Money exchange to CAD $ - this is the easiest, but the exchange rate is really not good at the moment. If I go this route, I need to find more efficient way of exchanging money than the rip-off at the banks.
2) Open a savings account with HSBC in euros - drawback: every debit is charged and they pay measly 0.50% on balances in euros (I could as well keep it under the mattress)
3) I found only HSBC to have access to London/European stock markets. I could open one of those accounts and invest myself. The drawback: the trading costs are expensive: minimum commission for London is 55 pounds, while for rest of Europe it's more than 105 euros. Also, I am not sure if you can have investment account in euros.
4) Keep it in a foreign bank for the time being. See if there is some term investment or something like that so I don't lose money. Then transfer when I need and when the exchange is favourable.
Anyone has any other ideas?
1) Money exchange to CAD $ - this is the easiest, but the exchange rate is really not good at the moment. If I go this route, I need to find more efficient way of exchanging money than the rip-off at the banks.
2) Open a savings account with HSBC in euros - drawback: every debit is charged and they pay measly 0.50% on balances in euros (I could as well keep it under the mattress)
3) I found only HSBC to have access to London/European stock markets. I could open one of those accounts and invest myself. The drawback: the trading costs are expensive: minimum commission for London is 55 pounds, while for rest of Europe it's more than 105 euros. Also, I am not sure if you can have investment account in euros.
4) Keep it in a foreign bank for the time being. See if there is some term investment or something like that so I don't lose money. Then transfer when I need and when the exchange is favourable.
Anyone has any other ideas?