Anonymous wrote:
Anonymous wrote:Thanks everyone, this was really helpful! I will look into Revolut. Someone in another thread mentioned opening an account at HSBC in UK, but I don't have a justification other than "diversifying" so I'm not sure the account would be approved. The PP above makes it sound like a foreign account would be difficult to manage anyway.
If anyone else has ideas or suggestions, I'm all ears!
I won't speak for OP or others on this thread, but for us the goal is to have readily available cash outside of the US banking system in the event the FDIC is shut down and/or there are bank runs.
Wise works fine but if you want to diversify your assets, why you could simply invest in ETFs in euros (e.g, FXE), pound (e.g., FXB) or in other currencies. Their prices follow closely the exchange rate and they pay distributions that correspond to the short-term interest rates for these currencies.