With online banking being a part of everyday life for pretty much everyone these days, there’s no reason why you can’t be transferring Hong Kong dollars at the opening of the market there and United States dollars when the market’s closing down state side. Being nimble footed when it comes to currency and liquidity can make life so much easier and so much more profitable when you’re operating on a global platform.
When it comes to managing your money, in today’s climate, you’re almost certain to have the need (and the desire) to hold a healthy proportion of cash, but being forced to convert it to a single or dual currency each time you transact can be financial suicide. With a multi currency account there’s no such need. Agreed, you may well make currency calls from time to time and decide to lighten or strengthen your holdings in any one currency, but it should be YOU making that decision, not your banking system.
If you trade regularly or size-ably on the global markets, choosing the right multi currency account will make a huge difference to your financial effectiveness. This, together with a good relationship and access to an effective, affordable and secure global fund transfer system won’t just make your life easier, it’ll really add extra power to your financial elbow. What’s more, add into the equation the opportunity of the benefits of an offshore multi currency account and you really start to see the pull. Offshore, in this context purely means that your cash or investment is held or registered in another country from where you live, enabling you to take advantage of potentially huge tax saving opportunities (of course dependent on your own personal circumstances). Add these two together…multi currency and offshore…and the world truly does become your oyster.