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Mike K.
Mike K.
Beecroft, NSW
1 Likes
0 Followers
Q:

USD interest

I have > $250k sitting in a zero interest acct in the US. I am awaiting a drop in the Aud before bringing home.

I think the US share market is at a high and so do not think Shares or ETF's will preserve the capital. I dont think I can have a USD interest bearing account as a foreigner.


Any thought on where I could park this money?

5 months ago

Responses

Hi Mike,
Perhaps set up a $US account in Australia and transfer $US to $US (but in Australia). You will most likely get the same interest rate (ie not much) but it will be here.
Best of luck with it,
David

Hi Mike,

There are investments here in Australia (ETF's) that track the performance of the USD relative to the AUD you could use too. In addition there are many great Australian companies that have USD earnings, that should the AUD drop - their earnings will benefit.

You don't have to leave it in the US hoping for the dollar to drop.

Reach out if you want some help.

Regards
James

Hi Mike

I have a U.S property investment company that guarantees above 8% NET returns for Australian Investors. Hold your money in the property market earning strong returns and capital growth while you wait for dollar to drop.

If you are interested to discuss in more detail please send me an email ben@ips-mp.com or visit
www.internationalpropertyservices.com

Regards
Ben

Hi Mike,

May sound a little strange, however Squirrel has had this issue with funds from our international subsidiaries. We use Bank of China (see you're in NSW, they are at Wynyard).

They have a range of accounts and TDs with no acc keeping fees for USD that pay a pittance ie 0.21% and they like to bargain on the rate so you might be able to get it up a little.

We use NAB and Macquarie for our core banking but for international currencies bank of china are absolutely fantastic (in person - terrible over phone)



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