Sorry if this post doesn't belong here. If your a mod feel free to move/delete it if it doesn't.
I buy and sell in USD.
Instead of going through two lots of currency conversion fees I have decided to open a Foreign Currency Account.
The account needs to receive USD and to send USD.
I estimate I would make about 5000USD worth of purchases and the same amount in sales/month.
Instead of going to the first bank and opening a Foreign Currency Account.
I am wondering which would be the best bank for these particular needs.
A combination of low fees/high interest rates I would assume.
Can anyone point me in the right direction? I am currently thinking about Commonwealth Bank.