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July 10th, 2007 
QuadsZilla For online banking, I recommend using HSBC. For US Citizens, HSBC has an online savings account that currently pays 5.05% and has almost no fees:
https://www.us.hsbc.com/1/2/3/personal/savings/deposit-rates
(look! there’s no affiliate link!)
HSBC is rock solid when it comes to reputation and financial stability. Moreover, HSBC has ATM location all over the world. Throughout my extensive travels in South and Central America, I have not seen a US bank with greater ATM availability.
However, I’m now starting to look at getting some currency diversity. The dollar may continue to weaken against other currencies and I would therefor like to open bank accounts in both Euros and British Pounds.
The most important considerations for me are:
1. Financially Stability and Repuation.
2. Yield on my money
3. Online Access to money
4. Foreign Tax implications
5. Privacy
I am not yet an expert in foreign currency accounts and would like the advice of you, my readers. Where should I be looking for online banking and currency diversity?
Posted in 
I can suggest Everbank’s Foreign Currency CD’s. Also, their “WorldCurrency Access Deposit Accounts” allow you to earn interest in the currency of your choice and transfer $$ between USD and foreign currencies. http://Everbank.com
I’m not sure I would put money into the British pound, but the Euro is a good idea. The Euro has risen substantially against the dollar and the trend will likely continue. The Canadian dollar (loonie) is another currency you might want to consider, instead of the British pound. The Canadian government is running a budget surplus.
For US citizens, Everbank is very good when it comes to deposit accounts and CDs in foreign currencies. They just bought NetBank which has been a big name in the online banking scene for quite a while.
I don’t know much about the tax implications, but your other 4 considerations are thoroughly met.
http://www.everbank.com/001WorldCurrency.aspx?LinkID=Navigation
[...] If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!SEOBlackHat.com had an interesting, off-topic post today on Online Banking and Currency Diversity. My interest is more in the latter. As an American who’s sat idly by, watching the U.S. dollar fall into the worst tailspin in recent memory, the article started me thinking on whether or not it’d be a good idea to open an international account in, say, British pounds, Euros, etc. [...]
ING (www.ingdirect.com) gives 5.25% on their checking account (orange direct) when you have 50k there. I think 5.3% after 100k. I think there are no fees, you get an ATM card, can write checks, etc.
Everbank and ingdirect are both average, or even poor options. Ingdirect doesn’t solve the currency exposure, and a CD is illiquid and only one currency at some irrelevant amount to you. Why not be able to flip your money into one of 30 currencies live, at any amount, earn 5%+ on your balance, and even more when holding in other currencies. You can easily do this. Email me something cool and I’ll walk you through it.
Why not just stay with HSBC if you like them? They have both euro and sterling accounts (they are a British bank after all), not Australian dollar though (which I think is the currency speculators favourite). Don’t know if there any legal issues there for US residents, I’m with offshore.
Be careful, that’s a phishing link.
Not. LOL.
[...] Online Banking and Currency Diversity I am not yet an expert in foreign currency accounts and would like the advice of you … Thanks for visiting!SEOBlackHat.com had an interesting, off-topic post today on Online Banking and Currency … http://seoblackhat.com/2007/07/10/online-banking-and-currency-diversity/ [...]