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Recommendation for a multi currency bank account with low fees

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  1. #1

    Join Date
    Aug 2013
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    Recommendation for a multi currency bank account with low fees

    I currently have HSBC premier, but would like to have a second bank account as well. Basically what I want is something like HSBC premier which allows me to have a few currencies (HKD USD RMB etc) in one account.

    Is there an account like that with lowish fees if I don't keep a huge balance there? I have seen a lot of people recommend standard charter. This was actually a good read and said there was multi currency (not sure if that meant only HKD and RMB though):

    http://hongwrong.com/hong-kong-best-bank-accounts/

    However when I went to the standard charter website for that account:

    https://www.sc.com/hk/save/easy-banking.html

    It doesn't say anything about multi currency accounts (ability to keep USD RMB in the same account)

    Thanks guys


  2. #2

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    I'm not totally sure what you want, but SC does allow you to have 'multiple currencies' including USD, RMB, GBP and others under one umbrella account. You can then transfer funds between accounts - although there is a 20 000 rmb a day limit for Chinese rmb.

    hk5000 likes this.

  3. #3

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    I find Standard Chartered very easy to use. We have 5 currency accounts, and transferring in and out of different currencies is very easy. I find the rates good as well. Only limitation is you can't do it at night after the markets have shut. Think it is 8pm cut off.


  4. #4

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    Quote Originally Posted by drumbrake:
    I'm not totally sure what you want, but SC does allow you to have 'multiple currencies' including USD, RMB, GBP and others under one umbrella account. You can then transfer funds between accounts - although there is a 20 000 rmb a day limit for Chinese rmb.
    Yea thats basically what I want. Is that a standard service (USD, RMB etc in one umbrella account) for even the basic accounts such as

    https://www.sc.com/hk/save/easy-banking.html

    Thanks a lot

  5. #5

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    Quote Originally Posted by kimwy66:
    I find Standard Chartered very easy to use. We have 5 currency accounts, and transferring in and out of different currencies is very easy. I find the rates good as well. Only limitation is you can't do it at night after the markets have shut. Think it is 8pm cut off.
    5 currency accounts that is all out of one "umbrella account" is that right?

    For HSBC I have one account number and that contains all my USD,HKD,RMB accounts etc not sure if thats how it works for standard charter as well
    Last edited by hk5000; 30-03-2014 at 05:37 PM.

  6. #6

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    No, they all have different account numbers. They are described as savings accounts. Opening them is all done online.
    They all appear under the one login id to the online systems.

    hk5000 likes this.

  7. #7

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    Quote Originally Posted by hk5000:
    5 currency accounts that is all out of one "umbrella account" is that right?

    For HSBC I have one account number and that contains all my USD,HKD,RMB accounts etc not sure if thats how it works
    In SCB all my accounts have a different number, but when I log into online banking, I see all the accounts. I think this is a basic service - offered even for 'easy banking'. Queues are short in SC, so go to a branch to ask and check.
    hk5000 likes this.

  8. #8

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    Great thanks guys.... liked


  9. #9

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    If you only want another account (Not necessarily in another bank), HSBC Advance and/or Smart Vantage are free options if you have your Premier balance in HK. If not Smart Vantage requires a balance of 10000 to be free.