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Anonymous

18 Apr 2019

∙

Should I leave my money in UK bank or transfer back (at loss) to Singapore to invest?

I've previously worked in UK and hence have some savings in a bank account over there. Came back during the 2008 recession and left my account open in the UK when the rate was 1: 2.4 then

Should I transfer the money here and use it for investments now (1:1.7)?
Or should I just keep it there (earning approx. 1-1.5% interest P.A.) and wait for pound to rise?

I'm currently not hard on cash, have sufficient EM Fund, some spare cash for investing. Just wondering if I should get even more cash on hand for investing.

Alternatively, anyone knows if I can trade directly from UK using my UK account? Legally of course.

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JianHao Soo

15 Sep 2018

It really depends on the interest rate you're getting in UK versus Singapore bank. One good way will be to transfer it to a mutli-currency account (e.g. Multiplier acc) where you can have the GBP be deposit as a GBP wallet - and you can exchange it at a rate you desire. Do ntoe that you will not be receiving any interest for GBP in mutliplier account.

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