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@chozenpryncess No sorry, I never lived in Spain. Typically you would have to ask or see the prospectus of the saving account. Unfortunately it is complex and requires knowledge of PFIC: "A PFIC is defined as a foreign corporation that is owned less than 50% by US person(s) and: generates...

@chozenpryncess If you can find an EU account that does not fall under PFIC, then you can use that high-yield saving account. Otherwise, use a US account for savings (Money market, conventional, treasuries, etc.). You can use Interactive brokers to transfer money at the mid market rate (once a...