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Another HSBC Rant

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  1. #51

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    @bdw - I think you need to contact Citibank's International division.

    https://www.citibank.com.hk/en/inter...TLOurAdvantage

    bdw likes this.

  2. #52

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    Quote Originally Posted by shri:
    @bdw - I think you need to contact Citibank's International division.

    https://www.citibank.com.hk/en/inter...TLOurAdvantage
    The higher level Citigold requires $1.5m relationship balance. The middle range Priority requires only $500k (and no fees anymore if you fall below). They both say they offer the free global view/global transfer which is the main thing I am chasing. So will figure this out next, whether I just keep the priority or upgrade to the Citigold. Apparently if I upgrade to Gold I can get another $5k in rebates

    What I'm quite impressed with is how I've been able to do everything from home without having to speak to anyone at Citibank so far. HKID, address proof, signature, photo, etc all done in the mobile app. Now I need to setup the Aus account I might need to finally make a phone call to figure out how to do it.
    z754103 likes this.

  3. #53

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    I suspect you have a placeholder account. Will need human interaction / verification for it to be fully activated.


  4. #54

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    Quote Originally Posted by shri:
    I suspect you have a placeholder account. Will need human interaction / verification for it to be fully activated.
    Yeah this doesn't sound like how HK works at all. Unless Citi is special and do everything offshore, which is highly unlikely. I do hope it's true though, in which case I would consider the switch as well as have heard good things, but just love how SC and HSBC have centers so close to me.

  5. #55

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    Quote Originally Posted by bdw:
    The higher level Citigold requires $1.5m relationship balance. The middle range Priority requires only $500k (and no fees anymore if you fall below). They both say they offer the free global view/global transfer which is the main thing I am chasing.
    t.
    Has anyone used the free global transfer function successfully with Priority? Any catches or hidden fees I should be aware of? I am thinking of opening account to use free global transfer overseas (and back!) and don't 100% trust HK banks to disclose all the catches , written in a way normal humans can reasonably understand.

    Thanks for sharing your perspective!

  6. #56

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    Original Post Deleted
    Confirmed. USD IB to Citi HK (even though IB use Citi in US and HK) isn't treated as intra group. Get charged USD12 for inward remittance (while to HSBC HK you get charged USD10 in remittance from IB for USD transfers).
    z754103 likes this.

  7. #57

    Join Date
    Sep 2015
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    [QUOTE=rkenia852;3670223]

    Quote Originally Posted by freeier:
    part of AML... happening quite often in banks that deals with non wired stuffs...[/QUOTE

    Sure; if the payment is in cash. But if I can make the payment through EPS or Credit Card, someone else has done the KYC and AML is not Hang Seng's problem.

    What stops me from going to Chow Tai Fook and purchasing gold coins there?
    What will stop you:
    they don’t have proper internationally recognised uses investment grade gold coins (krugerrands, panda. Britannia, American Eagle, philharmonic) or proper internationally (LBMA approved refineries) recognised gold bars such as argor heraeus, metalor, pano, RCM etc.

    Don’t buy good there! (Apart from non investment grade stuff like jewellery )

  8. #58

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    Quote Originally Posted by Hkemail888:

    What will stop you:
    they don’t have proper internationally recognised uses investment grade gold coins (krugerrands, panda. Britannia, American Eagle, philharmonic) or proper internationally (LBMA approved refineries) recognised gold bars such as argor heraeus, metalor, pano, RCM etc.

    Don’t buy good there! (Apart from non investment grade stuff like jewellery )
    Why is that attributed to me....

    But anyway, ZTF and ZXX will likely allow you to pay in credit card for their 'investment like gold'... cos they probably charging huge premium on them. I have not stepped into the hk retail jewelry chains before so no idea how they charge, but in Singapore I once got a quote of a gold maple at 50% premium to gold spot... the sales were giving me some craps like, the spot gold price (which is retail recommended price, generally actual spot + 20%) plus workmanship of $XXX(common for jewelry) ...

  9. #59

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    Think all these global transfer also depends on the currency..
    even though you have inter company transfer (e.g. for me i generally use DBS for SG<-->HK), if i want to transfer in HKD, they would likely charge me some money because their transfer agent for HKD is not themselves.. But if transferred in SGD I get to transfer from HK to SG free of charge...


  10. #60

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    Feb 2009
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    Original Post Deleted
    haha I'm having lots of fun with Citibank trying to get my wife setup with the priority thingy and finally having some success! But not yet at the stage of opening an Australian Citi account from HK.

    The Citi HK (remote account opening) mobile app is a joke, waited 2 weeks for this and got rejected, The guy on the phone said "Yeah we know our app sucks and has technical problems so just go to a branch". Went to the branch on Pedder street last Friday, got trapped inside for a few hours while riot cops were outside teargassing the streets, bank tellers and cops wouldn't let us leave the branch and we were the only customers in there, so good news we had plenty of time to setup the account and got some customer service for a change

    Now have all the accounts setup, should get around $5k in cashback sometime in the future. Got the securities service working and bought a few HK shares yesterday when stocks went down a bit, strange they charge me a brokerage fee when I am supposed to have 2-3 months free brokerage as a promotion, called them and ask and they have no idea and will research and get back to me. I find their front line to be just as clueless as HSBC and SC but hopefully issues will get sorted out.

    Interestingly just got the ATM card in the mail yesterday and its a Mastercard debit card. So those asking about debit cards in the past might want to consider opening a citibank account.

    My next step
    Original Post Deleted
    is to figure out how to open a Citibank Aus account for my wife and then link it up to this HK account and get the free global view thing happening . Will let you know!
    jgl likes this.

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