PLEASE READ! US Visa Debit - HK HSBC

hkRBG · 13-06-2014, 05:56 PM

Hello everyone,

I would just like to see if anyone has experienced anything similar.

I have been using my US Visa debit card (Visa Plus Network) for ATM withdrawals at HSBC in HK.

I have never once been charged a transaction/conversion fee. When I look at my US account online - I'm getting the HKD at almost the exact wholesale exchange rate for the day. I've been doing this for about 5 months, with no extra charges whatsoever. My US bank does not charge foreign ATM fees at all, so it would only be coming from HSBC.

Any explanations - as I understand this should most likely not be the case.

Thanks!

thegame181 · 13-06-2014, 05:58 PM

Why wouldn't there been a fee? Most banks will charge a fee for using overseas ATMs or an ATM not within the network. Which bank is your US Visa debit card issued from?

hkRBG · 13-06-2014, 06:02 PM

It's a local credit union that I have very good standing with. Absolutely no foreign ATM fees on their side, but usually I get a fee from the other end. I'm just concerned HSBC might hit me with all of it at once some day. Usually you see the fees live though, with each transaction. Doesn't make any sense to me.

drumbrake · 13-06-2014, 08:14 PM

If you have no HSBC account, how can HSBC charge you later for withdrawals you have already made using another bank's ATM card? In some countries, there is no way to avoid the overseas ATM charge. For example, in Thailand you nearly always need to pay a THB150 fee. If you withdraw THB10,000, it shows up as a withdrawal of THB10,150 on your statement.

It sounds like your bank is 'eating' the overseas withdrawal charges. This is not very common, but US credit unions are the few that do this.