As an account holder I want a foreign currency account so that I may receive deposits and make payments in a currency other than AUD.
Hiya @waltervice and welcome to the Xinja Community. No plans of introducing a foreign currency account but can give me an idea of the sort of transactions you’re making + the frequency you make them?
This doesn’t help with the Xinja situation but I sometimes use TransferWise and I’ve found them to be low cost and excellent overall.
Try HSBC Everyday Global account. You can have multiple FX accounts held in the currency of choice. Downside is converting to and from one currency to the other. Conversion rates are not that favourable. Better to have an ING account where you can pay FX when dealing with foreign entities and conversion fees are the MC/Visa rates of the day. Or a Latitude 28 degree credit card even better except at foreign ATM’s.
Infrequently that I can work around it, but it would be appreciated if I didn’t have to.
Please confirm then, that if a deposit is made to my Xinja account from abroad in USD, that Mastercard’s daily standard FX rate is used and the deposit will reflect in my account in AUD?