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Get the tips you need to save every penny when it comes to foreign currencies. From where to exchange to top tips and strategies, you'll find it here!
#4000
Hi all :D

I'll be living abroad next year, off dividends derived from international stocks, but remain an Australian resident (at least for the first few years)

I'm trying to find the most cost effective solution for foreign currency transactions, high interest rate on savings and low fees on transfers.

For example, a solution that allows me to receive several different foreign currency payments, and then hold onto those payments in their respective currency until such time as the exchange rate is favorable. Once this occurs, exchange the funds and then transfer them into a high interest earning / low fee account that I can access abroad.

My plan thus far is to open an Interactive Brokers (international brokerage) account and have dividends payed into a CitiBank multi-currency account, linked to an everyday savings account.

I'll predominately be travelling SE Asia

I'm curious what others are using, I've read up on TransferWise, Revolut and N26, however I have many reservations about holding more than a few grand in any type of institution that doesn't have a proven and extensive track record

Thanks
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