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"HSBC One" and Service Charges Being Dropped...

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  1. #11

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    Quote Originally Posted by Elefant&Castle:
    Schwab also has a 'One' account - catchy name - one account to rule them all...
    So does Apple .... apparently.

    BTW - HSBC (0005) @ 31.05 right now.

    Seriously excited about this waiver...

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  2. #12

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    Quote Originally Posted by topworld:
    Good move. Hopefully this spreads into other banks doing likewise.
    Even the mighty GoldmanSachs dirtied themselves to lay with the unwashed masses.

    https://www.bankrate.com/banking/pro...sachs-banking/

  3. #13

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    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.


  4. #14

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    Quote Originally Posted by shri:
    Seriously excited about this waiver...
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    Haha im guessing HSBC had hardly anything to do with this, most likely SWIFT finally woken up to market needs and enhanced its 'Remarks' field to accomodate more characters and HSBC shouting 'Free... Free..... Free...'
    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..

  5. #15
    bdw
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    Quote Originally Posted by shri:
    So does Apple .... apparently.

    BTW - HSBC (0005) @ 31.05 right now.

    Seriously excited about this waiver...

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    For outward TT to overseas, it seems they have removed all the miscellaneous adhoc bullshit fees such as the fees charged if your transfer is rejected due to insufficient funds, fees for exceeding 140 characters requiring an additional swift code, fees for using remote currencies, fees for doing in branches, on Saturdays, etc.

    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.
    shri and pin like this.

  6. #16

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    Quote Originally Posted by nivantj:
    Haha im guessing HSBC had hardly anything to do with this, most likely SWIFT finally woken up to market needs and enhanced its 'Remarks' field to accomodate more characters and HSBC shouting 'Free... Free..... Free...'
    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..
    Depending in your use case and compatibility at the banks on both ends, this swift message might be cheaper than sending a telegram or telex.

    Seriously exciting stuff I tell you!

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