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HSBC / Transferwise & Other FX Rates

  1. #21
    bdw is offline

    Join Date
    Feb 2009

    hmm yeah something doesn't add up and sounds too good to be true. Quite a misleading website.

  2. #22

    Join Date
    Nov 2005
    Cramped island

    you need to use credit card to initiate the payment ? don't they allow bank transfer in ?

  3. #23

    Join Date
    Apr 2019
    Quote Originally Posted by jrkob
    Nothing fancy really, I just use their Foreign Currency online service. I have a normal account with BOC.
    Current mid-market is 7.8138 and they are charging me 7.82995.
    This is (7.82995-7.8138)/7.8138=0.20%.

    I'm sure it's possible to find cheaper. I just don't want to go open a new account.

    Appreciate the input from all of you guys. Seems like they are couple ways to go below the already low rate of 0.4% from Transferwise.

    I was debating between opening an account at HSBC or Citi to initiate global transfers between US and HK, seems i'm just gonna stick with HSBC as I could also open accounts in Europe as well ... I will check the rates on HSBC but worst case scenario I go with Transferwise, which is still amazing cost wise and hassle free vs other options mentionned here

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