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silicon-beach-australia - 13 new messages in 2 topics - digest
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Michael zimmerman  
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 More options Oct 23, 4:48 am
From: Michael zimmerman <mike...@yahoo.com>
Date: Fri, 23 Oct 2009 05:48:54 +1100
Local: Fri, Oct 23 2009 4:48 am
Subject: Re: silicon-beach-australia - 13 new messages in 2 topics - digest
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Geoff,

i have a fidelity account but same issues as Schwab -- you have to be a US
resident when you set it up.

I expect BofA or Wells Fargo would be similar to each other on this, and
have very good online services.  I have heard good things about the Citi/
HSBC global accounts but don't know the cost.

when you start transferring, one thing to watch out for is that many of
these guys use a correspondent bank to take the foreign currency in when it
comes over from AU.  as a result you get hit with another layer of fees on
every transaction: your AU bank, your US bank and the correspondent bank.
the other thing is that obviously the "cost" of transfers is two-fold: 1)
the fees, and 2) the exchange rate.  so look at the rates as well (can check
the base exchange rates on financial websites).

lastly, i have heard about foreign exchange sites that charge less than
banks for intl transfers.  don't know the names but something to consider.

good luck

Mike

On Thu, Oct 22, 2009 at 11:43 PM, silicon-beach-australia group <

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Brendan Quinn  
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 More options Oct 23, 6:34 am
From: Brendan Quinn <brendanquin...@gmail.com>
Date: Thu, 22 Oct 2009 21:34:37 +0100
Local: Fri, Oct 23 2009 6:34 am
Subject: Re: [SiliconBeach] Re: silicon-beach-australia - 13 new messages in 2 topics - digest
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2009/10/22 Michael zimmerman <mike...@yahoo.com>

> lastly, i have heard about foreign exchange sites that charge less than
> banks for intl transfers.  don't know the names but something to consider.

http://www.tranzfers.com/ is a good example of these -- and they're an
Aussie startup from the looks of things!

i've used them to do UK<->Aus transfers, and my mate who is a forex guy for
a big investment bank has used them too, so they must be pretty good!

Brendan.


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