Say that I'm a citizen of country A, I want to save all my personal savings (obtained in A legally) in another country B (I don't care about the currency, as long as it's relatively stable), and I cannot open a bank account in B (Most of B's bank require you to be a B's citizen of some sort, or in the case of Bank Of America, it requires you to visit a physical branch to open a NRA account which I cannot do given the Covid-19 situation), however I can open a international broker account (those for trading stocks, funds etc).
My question is:
- is it possible to use such a broker account as a saving account?
- is it legal to do so?
- what's the downside?
- is there other method to allow me to secure my personal saving? (USD/gold withdrawed/purchased from A's bank are unacceptable, I have trust issues with A's bank - this may sound insane :( )
I'm ok with fees, the reason I'm doing this is that I don't have confident in A's economy, the inflation has already started.
I don't have experience in tradings, and I'm not interested in it, just want so secure my savings.
Things I've tried and failed:
- bank (that is not controlled by A) account of US, require you to be a citizen of some sort, or to be present is a US local branch
- TranserWise, debit card is not available in my country
- Zenus, there is long waiting list
Preferably B should not be US.