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Anonymous
Options for USD account
Hi, I recently relocated from us back to sg. I still have a usd account there and the money is just sitting there at the moment. I intend to transfer it back to sg at some point but the exchange rate isn't too good now. I was wondering what would be the best way for me to make use of it? The USD bank account has zero interest rate as well so it's literally rotting away.
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Lim Chun Long Jimmy
15 Jun 2021
Co-founder at PolicyWoke (Traded Endowment Policies)
Hi Anonymous,
You may consider opening a Wise account to transfer funds from your US bank account to your Singapore bank account.
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Tan Choong Hwee
15 Jun 2021
Investor/Trader at Home
You can open a multi-currency account with SG banks (if not already have) and TT back in USD. Then y...
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You could invest the money if you are still able to access any of your US brokerage accounts?
Using Wise would minimise the fees if you can transfer using ACH. They now charge a 7.50 USD fee for wire transfers. Otherwise, usual charges for inbound TT to a local bank is $10 SGD?