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"CUSTODY ACCOUNTS" in Foreign Banks? |
Is anyone familiar with Custody Accounts with Foreign Banks? I opened an account in a foreign country to trade securities directly on their exchange through their broker. But because I am a foreign investor they hold my deposit funds in a Custodial Account (not a money market account like in the USA). The purpose of the Custody Account is to give the Bank/Brokerage absolute legal control on what happens to my holdings. The Custody Account allows them to hold all funds and securities in it. MY QUESTION TO ANYONE WHO HAS EXPERIENCE: Will the Custody Account Interest Rate be combined with the (Security) Rate of Return? In other words, can i multiply the foreign interest rate by the rate of return (Security)? Only your bank can answer that question. Email them. |
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