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multi-currency bank accounts?



 
 
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  #1  
Old May 9th, 2004, 02:42 AM
4000 psi
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Posts: n/a
Default multi-currency bank accounts?

banks such HSBC offer multi-currency accounts ... has anyone ever used
it/them and does that work for everyday life's expenses? also, are safety
deposit boxes a common service that the banks provide in AUS? thank you!


  #2  
Old May 9th, 2004, 08:00 AM
A Mate
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Posts: n/a
Default multi-currency bank accounts?

All Australian banks offer accounts in other currencies (the AUD floats
free) - but they're not suitable for everyday operational acounts (for a
start most offer lower lower interest rates - whatever the reference rate is
for that currency - 0% for the yen; etc- plus fees. The AUD is amongst the
highest reference interest rates for free floating currencies at the
moment).

Deposit boxes are available, but realistically you'd only put exceptionally
valuable jewels etc in them. Safe custody is available everywhere (I mean
in every town with a bank of any kind) for documents etc.

Frankly - I suspect I've responded to a bull**** post!!!!


"4000 psi" wrote in message
news:V0gnc.18692$ph.18202@fed1read07...
banks such HSBC offer multi-currency accounts ... has anyone ever used
it/them and does that work for everyday life's expenses? also, are safety
deposit boxes a common service that the banks provide in AUS? thank you!




  #3  
Old May 9th, 2004, 01:25 PM
4000 psi
external usenet poster
 
Posts: n/a
Default multi-currency bank accounts?


"A Mate" wrote in message
. ..
All Australian banks offer accounts in other currencies (the AUD floats
free) - but they're not suitable for everyday operational acounts (for a
start most offer lower lower interest rates - whatever the reference rate

is
for that currency - 0% for the yen; etc- plus fees. The AUD is amongst the
highest reference interest rates for free floating currencies at the
moment).

Deposit boxes are available, but realistically you'd only put

exceptionally
valuable jewels etc in them. Safe custody is available everywhere (I mean
in every town with a bank of any kind) for documents etc.


what is the diff. between the two?


Frankly - I suspect I've responded to a bull**** post!!!!



no, this is for real, and thank you for the info.

"4000 psi" wrote in message
news:V0gnc.18692$ph.18202@fed1read07...
banks such HSBC offer multi-currency accounts ... has anyone ever used
it/them and does that work for everyday life's expenses? also, are

safety
deposit boxes a common service that the banks provide in AUS? thank

you!






  #4  
Old May 9th, 2004, 10:17 PM
Geoff Lillico
external usenet poster
 
Posts: n/a
Default multi-currency bank accounts?


"4000 psi" wrote in message
news:V0gnc.18692$ph.18202@fed1read07...
banks such HSBC offer multi-currency accounts ... has anyone ever used
it/them and does that work for everyday life's expenses? also, are safety
deposit boxes a common service that the banks provide in AUS? thank you!



Not sure what your purpose for the bank accout is, but travelling to
Australia is best managed with a Debit Card on your own bank. ATMs are
everwhere!

Safety Deposit Boxes are only in major cities and cost the Earth!

Geoff Lillico


  #5  
Old May 10th, 2004, 01:50 AM
4000 psi
external usenet poster
 
Posts: n/a
Default multi-currency bank accounts?


"Geoff Lillico" wrote in message
...

"4000 psi" wrote in message
news:V0gnc.18692$ph.18202@fed1read07...
banks such HSBC offer multi-currency accounts ... has anyone ever used
it/them and does that work for everyday life's expenses? also, are

safety
deposit boxes a common service that the banks provide in AUS? thank

you!



Not sure what your purpose for the bank accout is, but travelling to
Australia is best managed with a Debit Card on your own bank. ATMs are
everwhere!

Safety Deposit Boxes are only in major cities and cost the Earth!

Geoff Lillico



i'd like to keep my cash in USD for as long as i can taking withdrawals in
AUD as i need them ... i am just trying to ride out the inevitable
devaluation of the AUD for as long as i can ... there is no point of
converting it all to AUD while it is still strong just so i can deposit into
a bank for safekeeping ... stashing it under the mattress is not an option


how much is a typical safety deposit box? and would one be available in the
Brisbane area?

regards.


  #6  
Old May 10th, 2004, 02:07 AM
Ross
external usenet poster
 
Posts: n/a
Default multi-currency bank accounts?

"Safe Custody" is usually just a paper based packet.

"Safe Deposit Box" is just that, a box inside a miniature safe.

Both types are kept inside a strongroom i.e. a reinforced concrete room
protected by a steel door with a minimum of four locks held by individual
bank staff.

READ the fine print. While all reasonable care is taken (by the Bank) there
is no responsibility accepted for any loss or damage.

A few years ago the strongroom at Westpac Bank at Rosebay (?) in Sydney was
looted.

Charges apply for both services with the "packet" system the cheaper by a
long shot.


Ross


Deposit boxes are available, but realistically you'd only put

exceptionally
valuable jewels etc in them. Safe custody is available everywhere (I

mean
in every town with a bank of any kind) for documents etc.


what is the diff. between the two?



  #7  
Old May 10th, 2004, 04:43 AM
A Mate
external usenet poster
 
Posts: n/a
Default multi-currency bank accounts?

Safe custody is a service (free from many credit unions etc - small fee for
most banks) whereby you place documents or similar (personally I wouldn't
include large denomination bank notes) in a special sealed envelope (size as
needed) which is kept in the Bank Security Room. Access requires the
signature holder and a senior bank officer - usually in a private room.

As another poster has suggested - if you're simply waiting for the fall of
the AUD - why not access your USD account with a credit card through ATM's.

Remember while there is no limitation on the amount of foreign cash you may
bring into the country you must declare amounts in excess of $10,000 AUD in
cash to Customs on arrival.

"4000 psi" wrote in message
news:xrpnc.18737$ph.9784@fed1read07...

"A Mate" wrote in message
. ..
All Australian banks offer accounts in other currencies (the AUD floats
free) - but they're not suitable for everyday operational acounts (for a
start most offer lower lower interest rates - whatever the reference

rate
is
for that currency - 0% for the yen; etc- plus fees. The AUD is amongst

the
highest reference interest rates for free floating currencies at the
moment).

Deposit boxes are available, but realistically you'd only put

exceptionally
valuable jewels etc in them. Safe custody is available everywhere (I

mean
in every town with a bank of any kind) for documents etc.


what is the diff. between the two?


Frankly - I suspect I've responded to a bull**** post!!!!



no, this is for real, and thank you for the info.

"4000 psi" wrote in message
news:V0gnc.18692$ph.18202@fed1read07...
banks such HSBC offer multi-currency accounts ... has anyone ever used
it/them and does that work for everyday life's expenses? also, are

safety
deposit boxes a common service that the banks provide in AUS? thank

you!








  #8  
Old May 10th, 2004, 04:55 AM
A Mate
external usenet poster
 
Posts: n/a
Default multi-currency bank accounts? - From Westpac

How to secure your valuables

Document Storage.

At most branches, you can ask the Bank to secure

non-monetary value paper documents on your

behalf such as certificates and passports.

These items are held in a bank-provided durable

packet and will hold A4 documents without folding.

Safe Deposit Boxes.

At selected branches, we can usually safeguard

larger items such as jewellery and other valuables

for you.

Your valuables are held in Bank-provided safe

deposit boxes, usually 6.5 cm x 25 cm x 53 cm.

These are housed in specially constructed

security modules.

Access to the module to remove the inner box is

by double key, with one key held by you and the

second key held by the Bank.

39

Option Fee

Annual fee (charged in advance) $27.25 (inc. GST)

Access fee (for 5th and any subsequent $5.45 (inc. GST)

access in any one month) per access

Please note that, for security reasons, the Bank

holds no duplicate of your key.

If you are interested in a safe deposit box, you can

contact Telephone Banking or visit any branch.

Safe Custody Vaults

This service (where available) provides a selection

of different sized, double keyed boxes located

within a walk-in security vault.

Document storage packets and safe deposit boxes

can be secured subject to space availability.

Important information relating to

safe custody.

Safe custody services are available at selected

branches, Telephone Banking or your nearest

branch can advise a site closest to you.

We will supply you with the terms and conditions

applying to this service, together with details of

any fees applicable, when the facility is established.

All safe custody services are offered on a yearly

basis with the exception of safe deposit boxes at

selected branches, which are available for hire on

a monthly or yearly basis.

40

Option Fee

Annual rental option

Establishment fee $27.25 (inc. GST)

Annual fee $109.00 (inc. GST)

Access fee (for 5th and any subsequent $5.45 (inc. GST)

access in any one month) per access

Monthly rental option

Establishment fee FREE

Monthly fee $16.35 (inc. GST)

Access fee (for 5th and any subsequent $5.45 (inc. GST)

access in any one month) per access

You must retain a transaction account with the

Bank to be eligible to use the safe custody service

as all fees must be debited to a Bank transaction

account nominated by you.

If you close your nominated account, you will be

requested to nominate another Bank account or

remove the contents of your packet or safe

deposit box.

As the Bank has no insurance cover on

lodgements, we recommend you arrange cover

through the insurer of your choice.

The Bank cannot accept lodgements of

"4000 psi" wrote in message
news:8mAnc.19094$ph.246@fed1read07...

"Geoff Lillico" wrote in message
...

"4000 psi" wrote in message
news:V0gnc.18692$ph.18202@fed1read07...
banks such HSBC offer multi-currency accounts ... has anyone ever used
it/them and does that work for everyday life's expenses? also, are

safety
deposit boxes a common service that the banks provide in AUS? thank

you!



Not sure what your purpose for the bank accout is, but travelling to
Australia is best managed with a Debit Card on your own bank. ATMs are
everwhere!

Safety Deposit Boxes are only in major cities and cost the Earth!

Geoff Lillico



i'd like to keep my cash in USD for as long as i can taking withdrawals in
AUD as i need them ... i am just trying to ride out the inevitable
devaluation of the AUD for as long as i can ... there is no point of
converting it all to AUD while it is still strong just so i can deposit

into
a bank for safekeeping ... stashing it under the mattress is not an option


how much is a typical safety deposit box? and would one be available in

the
Brisbane area?

regards.




  #9  
Old May 15th, 2004, 10:05 PM
Geoff Lillico
external usenet poster
 
Posts: n/a
Default multi-currency bank accounts?

My box in Sydney costs $82.00 a year.
You should be able to get one in Brisbane.
--
The Commissioner

www.the-commissioner.com


i'd like to keep my cash in USD for as long as i can taking withdrawals in
AUD as i need them ... i am just trying to ride out the inevitable
devaluation of the AUD for as long as i can ... there is no point of
converting it all to AUD while it is still strong just so i can deposit

into
a bank for safekeeping ... stashing it under the mattress is not an option


how much is a typical safety deposit box? and would one be available in

the
Brisbane area?

regards.




 




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