Online Banking and Currency Diversity
For online banking, I recommend using HSBC. For US Citizens, HSBC has an online savings account that currently pays 5.05% and has almost no fees:
https://www.us.hsbc.com/1/2/3/personal/savings/deposit-rates
(look! there’s no affiliate link!)
HSBC is rock solid when it comes to reputation and financial stability. Moreover, HSBC has ATM location all over the world. Throughout my extensive travels in South and Central America, I have not seen a US bank with greater ATM availability.
However, I’m now starting to look at getting some currency diversity. The dollar may continue to weaken against other currencies and I would therefor like to open bank accounts in both Euros and British Pounds.
The most important considerations for me are:
1. Financially Stability and Repuation.
2. Yield on my money
3. Online Access to money
4. Foreign Tax implications
5. Privacy
I am not yet an expert in foreign currency accounts and would like the advice of you, my readers. Where should I be looking for online banking and currency diversity?
Posted on July 10th, 2007 by Green Guy
Filed under: Uncategorized