We have enough international members in here, maybe you all can help…
Long story short, I can’t open a bank account in Germany until I have an address
which is a few years off. Ideally it’s with Commerzbank since most of my transfers
are to a corporation that banks there too and I like to keep things simple.
I send about €15,000 over every year and it seems like every time I go to do
it the conversion rate drops.
Like around November the conversion was at .96 and then it dropped to .92 by
the time I did the transfer. Somebody suggested I use Wise. But can I purchase
euro and keep them in an account or can you only transfers? I’d prefer to buy
and hold when rates are favorable.
But can I purchase euro and keep them in an account or can you only transfers? I’d prefer to buy and hold when rates are favorable.
Yes, you can. And if its going to be many years before you have a German address
you need to find a US bank that will allow foreign currency accounts. Its common
here to have Euro and USD accounts for holiday spending etc linked to a debit
card for International payments. Try Wise or Revolut*, but make sure you check
they have full banking licenses in your jurisdiction and aren't just light
regulated online payment providers.
*IANAL nor Financial Advisor and this should in no way be taken as financial
advise or a recommendation on the suitability or sustainability of either provider.
TLR please don't sue me
USA, Ohio
United Kingdom, England
R please don't sue me 