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online banking - maximum cap problem

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  1. #1

    Join Date
    Mar 2010
    Posts
    6,745

    online banking - maximum cap problem

    I just learnt that at my HK Bank I can authorize an account and then wire 50k max per instruction online to that account, I can do several in a row but it costs the same each time.

    They give you more security than needed.

    How do others handle it when not in HK ?


  2. #2

    Join Date
    Nov 2010
    Location
    HK
    Posts
    1,180

    when i've come across this it's been possible to authorise higher limits either via calling the bank or through the online services (HSBC allows limits to be adjusted I think)...unless it's an absolute limit? maybe you need a private banker?


  3. #3

    Join Date
    Mar 2012
    Posts
    4,821

    On HSBC HK$50k is a hard limit per tranaction for "unregistered accounts". But you can register accounts by filling in and signing a paper form and sending it to the bank. You can then initiate larger transfers to those accounts online. For registered accounts I think you can set the limit as high as you want (though I've not done it, so I'm not sure).


  4. #4

    Join Date
    Mar 2010
    Posts
    6,745

    Thanks, I will talk to them.