advice on transferring SGD to AUD

[worst agent ever]

Kubes. 6%. WTF. Just shows how effing dumb you are.

USaver (Base Rate 6.01%, Bonus 0.50% with savings plan)  - 6.51%

No it shows how effing dumb you are - and your complete inability to do the most basic research before posting

TWAT 

[Does...]

this 007 idiot ever have anything decent to say???

Obviously not.

[Agent007]

6% is crap! Bloody idiot.

[Kubes.SG]

Kubes. 6%. WTF. Just shows how effing dumb you are.

USaver (Base Rate 6.01%, Bonus 0.50% with savings plan)  - 6.51%

No it shows how effing dumb you are - and your complete inability to do the most basic research before posting

TWAT  

Dear Agent.  I had never heard of UBank in Australia, nor the USaver.  This is what I found in 3 seconds:

If you're aged 18-29
and have less than $5000
to start saving with, our USaver
Reach account could help you
reach your savings goals faster.

With an easy online application
process, no fees and no
requirement to set a fixed
amount every month, give
your savings a kick start today.

Come on Agent, are you really that stupid?  I am too old and have too much money to qualify for this offer.  It is not even a real bank as far as I can tell, as it says "Backed by the NAB".  How long do you think it takes me to save $5K?  Also I have a very long standing partnership with a major in Australia and they offer me all sorts of preferential rates.  It does not make sense for me to be chasing half a percent here or there.  

Of course, if you had any savings, that half a percent would be ten times the interest you earn.

[Kubes.SG]

6% is crap! Bloody idiot.

How much interest do you make on your savings?

[saving]

We want to transfer some Aus $ from our account here to Australia as the savings rates are higher.  However, most of the savings accounts there need you to be "resident for tax purposes" which we are not at the moment. We do have a house in Australia which is rented out.

What is the best way to go about this. Any sensible suggestions please

[Agent007]

"How much interest do you make on your savings?"

I don't 'save'. Stop taking the p1ss.

[Kubes.SG]

We want to transfer some Aus $ from our account here to Australia as the savings rates are higher.  However, most of the savings accounts there need you to be "resident for tax purposes" which we are not at the moment. We do have a house in Australia which is rented out.

What is the best way to go about this. Any sensible suggestions please

Open a AUD foreign currency account at DBS or one of the other banks here.  You won't be taxed on the interest earned.

[House-wife]

I noticed that interest rates for AUD are higher (compared to Sing $ and USD). Why is it so?

I have some extra cash (in SIng $). I dont need this for 2 years. Should I open a AUD account and do a Fixed Deposit to earn 6% + rates?  Suggestions please....

[Kubes.SG]

Sweetie, the foreign currency interest rates are based on the base interest rates set by that countries Reserve Bank.  The higher interest rate for AUD reflects that the AU economy is extremely strong and growing, and the ARB has been increased the rates 7 times in the last 12 months or so, to ensure an stable economic growth and control of inflation.

The USD rates are low because that economy is essentially bankrupt and collapsed.  The SGD rates are low because the MAS creates bubble growth by offering free money to anyone who might want it.  It has to keep it low as Singaporeans carry the highest ratio of personal debt to income in the world, and if the MAS raised rates to levels they should, the facade of SG economic success would collapse.

Don't just look at the interest rate.  You are also playing a Forex game when you start to buy other currencies.  Know what you are doing.  AUD is at 30 year highs.  It may still go higher, but who knows what it will be like in 2 years' time.