Foreign currency account: Which bank will be best?

[gabbys]

Hi,

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.

Thanks

 

[prawn_86]

I work as an FX broker but we dont do currency aco****s cause we're not a bank.

CBA is the worst bank for any currecy related business. Holding currency accounts with any bank is fairly expensive anyway and on a USD account you will be getting about 0.25%pa interest.