Multi Currency account opening

[johnny333]

Does anybody know which bank is good for $US or $CAN? what about transferring money from Singapore to USA or Canada?

I only have experience receiving US$ from my US broker & not sending $.
Usually receive few thousand US$. With Citibank the fastest & cheapest is to do a wire. I think wiring funds to US is about SIN$60.

I initially thought it would be cheaper if I asked for a US cheque. However with Citibank if the amount of the US cheque is over a few hundred, it will cost over a $100 to clear the cheque Sorry can't remember the exact fees. The best way is to ask the bank directly.

For Canadian funds try checking with the Royal Bank of Canada in Spore. http://www.streetdirectory.com/businessfinder/company_detail.php?companyid=84492&branchid=63821 They have branches all over Canada.

If you are an active trader you can look at opening an account with a broker which has Spore office. Then all you have to do is transfer SIN$ into the account & it will be converted into US$. I had an account with one of these brokers in Spore & I could write USD$ cheques which could be drawn at any US bank.

 

[Trentbolt]

Two cheque books, one each for the two currencies, and the debit card was delivered via normal mail into the letterbox yesterday in 3 separate envelops. Next to come will be the card's password or pin and the token for Internet banking.

Very impressed

It's really good news for me because I did know little about banking system.