Double FX Conversion Fee


I just wanna assure if I get this right. When I deposit CZK, my main account currency is EUR and I create a pie with USD stocks I have to pay double FX fee? CZK β†’ EUR β†’ USD.
I thought that I can avoid that by exchanging CZK/EUR through Revolut but their rate is not worth it to do so.
At this point I feel like my best option is to buy stock manually not using a pie at all to pay only one FX fee (CZK/USD). My porfolio consist of Β±10 stocks so it is not very time consuming.

Or did I get it all wrong? Is there any better way to do it?

I know I’m probably like hundredth who asks but I couldn’t find the answer.


Can you use WISE? It’ll probably work out cheaper.

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If I understand correctly your post, you send to T212, money in CZK, your T212 account is EUR. If so, money is converted, so probably T212 or its bank could charge currency fees (maybe T212 could clarify).

Afterwards, if you buy USD or GBP stocks/ETFs, you pay a 2nd currency fee.

When you sell and transfer back to bank account in CZK, you will pay another 2 currency fees.

With the T212 multi-currency accounts, you can deposit direct in your T212 CZK account (or other currency accounts). (And you can have 6% interest rate on CZK uninvested cash. Other currencies with different APY.)

When you want to buy foreign currency stocks/ETFs, you have 2 ways:

  1. Convert a lump sum in the foreign currency to buy afterwards the stocks/ETFs
  2. Or buy foreign currency stocks/ETFs directly from CZK when need

The interest from uninvested cash can help offset the T212 currency fees (0.15%).