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  • 2 Post By Elefant&Castle

Best way to get my ~20K rmb into my IB account?

  1. #1

    Join Date
    Jan 2017
    Posts
    49

    Best way to get my ~20K rmb into my IB account?

    l had foolishly tried to transfer rmb to my IB account couple of times from my HSBC savings account. IB don't accept rmb. so would you consider going to HSBC or local Hangseng to change it to HKD over the counter and put it in my HSBC or Hangseng account, so I can transfer to my IB account and convert it to USD? suggestions?

    looking at the attachment, the left exchange rates are HSBC and right Hangseng, very similar, but why would l get a higher rate with HSBC telegraphic rates compared to 'bank notes'?

    thanks in advance


  2. #2

    Join Date
    Jan 2018
    Posts
    277

    They prefer not to handle foreign currency bank notes directly - that's why the rate is worse.


  3. #3

    Join Date
    Jan 2017
    Posts
    49
    Name:  Screen Shot 2019-06-26 at 19.08.51.png
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    I never considered that, but can understand, so what do you suggest to xchange into HKD to get it into my IB account?

  4. #4

    Join Date
    Jan 2018
    Posts
    277

    You could shop around with the other banks - e.g. try BOC or the "Berlin Exchange Company".
    At most I think you can gain ~200HKD relative to going with Hang Seng.

    shri and Gevening like this.