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  • 1 Post By fmincon

Does Hang Seng basic bank account accept USD deposits?

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  1. #1

    Join Date
    Jan 2011
    Posts
    24

    Does Hang Seng basic bank account accept USD deposits?

    I'm trying to wire money to my dad's Hang Seng bank account from my US bank account. His account is the most basic, the personal e-banking account as it says on their website. Can I simply wire USD without having it be converted to HKD, or will it automatically be converted? Or does my dad need to activate some option to accept multiple currencies? Last but not least, should I get expected for this transaction to be held up for AML reasons because of the amount (it's to fund a car purchase)?


  2. #2

    Join Date
    Jan 2011
    Posts
    24

    Actually just found out it's an Integrated Account, whatever that means. Does that make any difference?

    No clue on what car. I too hope it's a green Ferrari, but won't be paying for it.

    JAherbert likes this.

  3. #3

    Join Date
    Jan 2011
    Posts
    24
    Original Post Deleted
    Millions in HKD or USD? I was actually thinking of helping out with a down payment a while later. Guess that will definitely trigger AML. Does that mean they'll interrogate my dad, and if they don't like the answers they'll freeze the account with all the dough?

  4. #4

    Join Date
    Apr 2003
    Location
    Hong Kong
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    4,120
    Quote Originally Posted by fmincon:
    Actually just found out it's an Integrated Account, whatever that means. Does that make any difference?

    No clue on what car. I too hope it's a green Ferrari, but won't be paying for it.
    I have hangseng business Integrated account which accepts direct USD dollar deposit, however, to move it to HKD, he will need to convert to HKD and pay lots of fees for the pleasure.

  5. #5

    Join Date
    Jan 2011
    Posts
    24
    Original Post Deleted
    Seems like his account just has some stocks, otherwise is mostly dormant . He doesn't have other accounts in HK. I guess I'll just start with a small transfer, maybe 10k USD (after testing to see if it accepts USD) and assuming it goes without a hitch slowly increase the amounts. Last thing I want is to have them freeze the account and spend weeks trying to convince them that this isn't drug money...