If I open a bank account in a country with a different currency, and transfer money into it, is there an automatic currency conversion or some kind of separate status for foreign currency?
Country in question is Singapore, if it matters.
Depends entirely on your bank, they might only accept US dollars as foreign money, they might convert it automatically but charge a ridiculous fee or give you a shitty rate. You need to research your bank and their terms for yourself.
>>1059406
Canada here
Deposits of a foreign currency into your Canadian dollar bank account will be converted into canadian dollars at the bank's exchange rate.
If you have an account in Canada denominated in the foreign currency you are depositing it will be deposited as that currency.
If you are depositing foreign currency into an account of a different foreign currency it will be converted to Canadian dollars and then converted to the foreign currency of the account.
