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Old Mar 12, 2015, 12:38 pm
  #1  
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Opening U.S. bank account in Euro currency
Anyone know which bank offers a checking or savings account held in Euros?

I travel to Europe frequently and want to take advantage of the stronger dollar rates.
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Old Mar 12, 2015, 1:00 pm
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If you want to take advantage of the strong rates then wouldn't you want to hold the currency in dollars and only convert when you're ready to spend??
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Old Mar 12, 2015, 1:09 pm
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Originally Posted by sbm12


If you want to take advantage of the strong rates then wouldn't you want to hold the currency in dollars and only convert when you're ready to spend??
Actually not. Since the dollar is strong now, it appears he wants to convert $ to Euros now at the good rate, then when s/he travels to Europe, to withdraw those funds from his Euro account (already converted and locked in at a good exchange rate).

I know European banks have foreign currency accounts, but I have never heard of a US bank offering the same (though that doesn't mean it does not exist).
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Old Mar 12, 2015, 1:24 pm
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Since the 1930s, U.S. law has prohibited bank deposits in the U.S. in other than U.S. dollars. Many larger U.S. banks accommodate there larger customers by facilitating deposits in other than U.S. dollars at sister banks outside the U.S.

Banks in Canada do offer accounts in various currencies. It used to be fairly easy for a U.S. resident to open an account in Canada (regardless of currency); I am not certain if that is still the case.
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Old Mar 12, 2015, 2:34 pm
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Not sure where you got that info about US law. For example:

http://www.bankrate.com/finance/savi...y-account.aspx

https://www.unionbank.com/commercial...y-accounts.jsp
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Old Mar 12, 2015, 9:58 pm
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Although this query is only marginally travel-related, let's give it a try here in the dedicated USA forum since it specifically concerns USA banking.

Good luck, and safe travels!
Moderator, Information Desk
Last edited by aBroadAbroad; Mar 12, 2015 at 11:52 pm
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Old Mar 13, 2015, 4:40 pm
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Originally Posted by Sabasi
It seems that I am dating myself. There had long been a prohibition on US banks holding deposits in other than US funds. With further research I find that that banking restriction, like many, has been done away with.
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Old Mar 18, 2015, 10:02 pm
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HSBC Canada savings accounts can be opened in five other currencies than $CAD ( including Euro )
HSBC USA only in $USD
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Old Mar 27, 2015, 8:16 am
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etrade offers trading in non- dollars. one can deposit and withdraw non-dollars. they charge 1% for the conversion. i had a canadian dollar and a euro account.
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Old May 23, 2016, 12:41 am
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Originally Posted by gerardof71
Anyone know which bank offers a checking or savings account held in Euros?

I travel to Europe frequently and want to take advantage of the stronger dollar rates.
Take a look at https://www.zenbanx.com.
They offer US-based multi-currency accounts and they allow you to use a debit card directly in the foreign currency without any network fees, although it says they charge $1.75 per foreign ATM withdrawal. Presumably, a credit network transaction would be free.

You'd still come out ahead on any ATM withdrawal over $180, plus anything earned on the forex.

Has anyone used them?
Last edited by alaskamatt; May 23, 2016 at 12:47 am Reason: More details on fees
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Old Jul 13, 2016, 3:30 am
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I wouldn't go the bank route. I use Revolut and can store money in whichever currency I want.
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Old Jul 13, 2016, 7:04 am
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Originally Posted by gerardof71
Anyone know which bank offers a checking or savings account held in Euros?

I travel to Europe frequently and want to take advantage of the stronger dollar rates.
I know Everbank https://www.everbank.com has a wide range of foreign currency accounts and are FDIC insured and everything. I'd bet that many of the big huge banks that do banking in many countries, like HSBC, Citi, et al, could do that, as well as European banks that have US branches. Another option might be some Euro money-market fund within a US brokerage account thou you wouldn't have FDIC backing.
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