Wow, INGDirect Australia has a savings apy of 4.5% and 1 year CDs with an apy of 5.9%. How can I get in on that as an American?
Opening a foreign bank account
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just about every term deposit account here is bewteen 4 and 5 pct for 12 months..
i have 320k earning 4.7 pct as we speak
re currency..
there is also every chqance it could go the other way too. Many are prediciting the aud to grow signiciantly against the usd. Its already up 30 pct over the last 12 months with china and the mining boom showing no signs of dropping and an unemployment rate of 5.3 pct, and the imf just declaring the ozzie ecomony the strongest in the world for all western economies it could be a good bet.
it would actually be terrible for me. I want the aud to weaken because my blog revenue is in euro and usd...
but it does make travelling easier.
as far as getting your hands on some of th action. I could be a conduit i guess - we just need to do it legally...
i have 320k earning 4.7 pct as we speak
re currency..
there is also every chqance it could go the other way too. Many are prediciting the aud to grow signiciantly against the usd. Its already up 30 pct over the last 12 months with china and the mining boom showing no signs of dropping and an unemployment rate of 5.3 pct, and the imf just declaring the ozzie ecomony the strongest in the world for all western economies it could be a good bet.
it would actually be terrible for me. I want the aud to weaken because my blog revenue is in euro and usd...
but it does make travelling easier.
as far as getting your hands on some of th action. I could be a conduit i guess - we just need to do it legally...
From what I read, we'd have to incorporate an Australian "holding company" with a Tax ID and open the account through that identity. Is anyone familiar with this? Or is there an easier way?
The minimum deposit is 10,000 AUD which is 10,302 USD. 5.9% is pretty nice, but I'm not sure it's worth the effort required. It would be an interesting exercise to increase international business skills, though.
I imagine we could structure the company in a way that would allow multiple people to use it to purchase their own term deposits. Hm, just brainstorming here...
The minimum deposit is 10,000 AUD which is 10,302 USD. 5.9% is pretty nice, but I'm not sure it's worth the effort required. It would be an interesting exercise to increase international business skills, though.
I imagine we could structure the company in a way that would allow multiple people to use it to purchase their own term deposits. Hm, just brainstorming here...
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