for banks, SC usd saver is 3.32% pa for 3m usd, but rate is heavily backloaded
not recommended, unless you love SC, have 3m usd and wrongly think that non-banks are scary
how good is SC premium banking? cards are weak, perks are weak, banking products are weak, but no drama
for cash management, im glad he finally mentioned wise, which i think is superior to SC, unless you are scared that wise is not a bank
more finfluenzas are mentioning wise (both usd and sgd) and i think wise is a good default choice
for money market fund, amundi and fullerton have usd funds
the cash management accounts also all use the same few funds, just like sgd
no right no wrong, all about the same
just use whichever platform you already have an account with and are comfortable with
fixed deposits are a bad idea for cash
so are treasury bills and bonds
strongly do not recommend
cash is supposed to be liquid
you want to be locked in a 1 year fixed deposit when the market drops 20% and it is the best time to buy?
dont be a humji loser
this is my general recommendation for parking usd cash:
for max yield and good liq, buy ishares 0-1yr treasury bond etf for self-rolling tbills through brokerage
for convenience and instant liq, wise usd interest
Hi, thanks for summarising Kelvin learns investing so that I don't have to click on his channel. lol. I previously created a transferwise account (Wise former name) because I was attracted by their advertised exchange rates. But when I logged in, the rates were actually pretty bad and the advertised forex rates were only applicable if you exchanged a huge amount.
ReplyDeleteOf course, SCB forex rate is also pretty bad as well. The only exception is that sometimes SCB has promotional FD rates for priority banking that is not published on their website. I don't know what Wise forex rates are currently... bid-offer how many 0.xx% over spot?
For liquid USD cash management, I have put some into FSMOne USD autosweep, because their SGD:USD exchange rate is reasonable (0.2-0.25% premium overspot) and the USD are instantly available for stock trading. For Wise, you still have to jump through some hoops to move the USD from Wise to a trading account.
USD at 1.32-1.33 is looking attractive.