Y'all should thank WeLab Bank's and Mox Bank's of Hong Kong for spurring this change! Banking services now no longer limited to these large corporates like HSBC.
If it was really a bottleneck on HSBC side all along, its a 'Shame... Shame... Shame...' considering its empire of oversized IT army with fat salary..
But their is no mention of the f*cking basic transfer fee that we all get hit with when initialting a transfer. The bastards still charge this? Sure they have removed hundreds of fees, but most of us knew the rules to follow to avoid these before anyway! If this is the case, then I'll stick with instarem or transferwise.
One thing interesting for me is the global transfer function seems to be free for everyone now. I have a basic HSBC account in HK now. I live in Australia, there is a HSBC branch 3 minutes down the road from me, if I walk into there and open a basic account am I going to be able to transfer money between HSBC HK and AUS for free? I'm particularly interested in same currency transfers (eg AUD to AUD without any fx conversion) that instarem/transferwise cannot do. There is no such thing as ONE here in Aus, if I ask them about it they will probably just look at me funny and have no idea what I'm talking about.