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FOREIGN currency Account

Posted by Moby935 Moby935
Message 1 of 4 477 Views

Hello.

 

I have a personal Account at Bankwest and I am receiving currency typically in EUR and USD - can I open a new EUR or USD Account in my personal name or linked to my existing Bankwest Account?

 

The amount/s received will be above 20.0K.  And yes I do realise that eventually for tax planning we should set up a Pty Ltd and then set up a new corporate Account at Bankwest - but at the moment I prefer the personal approach - as in the 'crawl - walk -run' approach to business.

 

Thank you.

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Re: FOREIGN currency Account

Posted by LyndsC LyndsC
Message 2 of 4 477 Views

Hi @Moby935, I have just responded to your other post in regards to this. 

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Re: FOREIGN currency Account

Posted by Moby935 Moby935
Message 3 of 4 474 Views

Hello LyndsC - I have no idea where the 'other post' was - I thought I only posted this once.

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Re: FOREIGN currency Account

Posted by LyndsC LyndsC
Message 4 of 4 470 Views

That's ok @Moby935, it was also posted here: https://forum.bankwest.com.au/t5/Business-Banking/US-Dollar-Bank-account/m-p/6988#M171

 

In answer to your question - we don't have an option for personal accounts in foreign currency. A foreign currency account can only be opened by a business. Thanks.

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