Foreign Currency Conversion
I finally got my account open at Interactive Brokers. It was a lot easier than at Everbank and I didn’t have to provide them with blood samples or fingerprints!! [yeah thanks George W, this is what I get for being pro-Republican!]
My base currency is Aussie Dollars and I get paid a whopping 5.4% interest. And unlike Everbank, the money is liquid and isn’t tied up for 3 months.[plus I get a tad higher interest].
On top of that, the USD has been showing a little strength this week so I might get more bang for my buck in terms of appreciation too.
The only drawbacks are that you have to have atleast $15,000 AUD to get paid interest[thats about $11,250 USD] and the customer service isn’t as easy as picking up the phone, but they respond well to email. Also withdrawals cost $4 via check and $1 via ACH. [But its still liquid for a buck.]
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