Put Your Money in a Foreign Bank Account at 10% Interest - No Don’t

Many foreign banks have deals for those with American Dollars to put their money in accounts with a guaranteed interest of ten percent, even backed by Lloyds of London. Is this a good idea? Where else can you earn 10% on your money leaving it in a bank? Well, it sound like a good idea at first and some banks really need US Dollars because they are a trusted currency and used to secure International Shipment Guarantees; so they are willing to give ten percent because the shippers only trust the US Dollar. Meanwhile, your money sits in the foreign bank tied to the local currency exchange.

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