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View Diary: Welcome to the Wonderful World Of Commodity Inflation (175 comments)

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  •  Watch out for those minimum opening deposits (0+ / 0-)

    I looked at the website, and Everbank requires a minimum opening deposit in the thousands for the foreign currency accounts. I have $500, so Everbank isn't an option for me (I called, they said they can't do anything). Are there any other options that would allow that small an amount to open an account in Euros? Is wiring the money to a trustworthy friend in Europe and having them open a separate account there the only option?

    Also, I actually have a few cash euros-- not many, and certainly not enough to send to Everbank. Should I keep them as cash or convert them back into US$$? If the dollar were to tank badly, having a few Euros to trade in at the bank sounds good in theory, but I would imagine if we ever got to the point of bank runs and frozen accounts a la Argentina, I wouldn't be able to convert anything.

    Confidence is what you have before you understand the problem.-Woody Allen

    by Lychee on Tue Sep 25, 2007 at 11:51:41 AM PDT

    [ Parent ]

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