Will my salary be subject to service fees upon being credited into Citibank if my pay is in USD? How to maximise interest on salary (since no bonus interest on salary credit)? How to withdraw USD OTC without incurring service fees? - Seedly
 

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Asked by Anonymous

Asked on 27 May 2018

Will my salary be subject to service fees upon being credited into Citibank if my pay is in USD? How to maximise interest on salary (since no bonus interest on salary credit)? How to withdraw USD OTC without incurring service fees?

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Pascal Samsoon
Pascal Samsoon
Level 5. Genius
Answered on 28 May 2018

Hi,

This is a tough one.

I hope someone else would have an accurate answer.

In the meantime, it seems a rather bad deal to be paid in USD...

Perhaps,

Could you have a discussion with your company to settle on a fixed amount in SGD? Consequently, have that amount paid to you from a SGD business bank account to your personal SG bank account. As such, you wouldn't incur any losses due to currency exchange and bank fees.

That's how I would handle the situation personally.

Alternatively, they would need to bear the costs, meaning you ask them to transfer to your SG bank account directly and they bear the bank fees. They could use Transferwise to send you the exact (again, do have the discussion) in SGD.

Hope this helps

Pascal​​​

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