Is my money still safe in an HSBC Expat account?

[z754103]

Try Barclays International (Isle of Man), Citibank International - they have an offshore banking centre in the UK (London or Channel Islands), and Singapore.

If you google there are links on their respective websites where you can ask them to contact you. Be patient as they have very high volumes of requests at the moment.

[Kowloon72]

It seems very difficult to open a HSBC expat account online. Does anybody know of a bank that 1) I can open while in HK, 2) is not under the jurisdiction of the HK government, 3) I can buy stocks and bonds in different countries, at low fees.

So far I only know HSBC Expat, Standard Chartered (can open an account in Singapore if you have a Prime account in HK), and Swissquote (tiny bank). With Citibank you can only buy stocks in USA, so it doesn't qualify.

I found opening an Expat account pretty smooth. Got the email confirmation the account had been opened about 10 days after submitting the docs in the Queen's road branch.

I'm a UK citizen. Not sure if that helped or not.

[TheRoadAhead]

No point in HSBC Expat. Please note that Sharedealing (that you use to buy stocks/ETFs through Expat) is cheap but the balance you have there does not count towards your HSBC Premier relationship balance.

HSBC is good for global transfer but you need premier status to have them for cheap

[Kowloon72]

No point in HSBC Expat. Please note that Sharedealing (that you use to buy stocks/ETFs through Expat) is cheap but the balance you have there does not count towards your HSBC Premier relationship balance.

HSBC is good for global transfer but you need premier status to have them for cheap

It's true for you, as it doesn't fulfill the purpose you require it for, but that doesn't make it true for everyone.

I explained before why people might choose to use it. Basically, if someone wants to buy UK shares, but would prefer to keep them with a bank instead of a broker, they have the choice between DBS and HSBC Expat. If someone also wants that bank to be located out with Hong Kong, then HSBC expat is their only option.

[pin]

It's true for you, as it doesn't fulfill the purpose you require it for, but that doesn't make it true for everyone.

I explained before why people might choose to use it. Basically, if someone wants to buy UK shares, but would prefer to keep them with a bank instead of a broker, they have the choice between DBS and HSBC Expat. If someone also wants that bank to be located out with Hong Kong, then HSBC expat is their only option.

Well not really, some other options:

- Swissquote Lux is a registered bank in Luxembourg
- Keytrade Bank is a registered bank in Luxembourg
- Option of setting up SCB Singapore account
- Set up a PB account which will keep your assets in custody in Singapore

BUT for all intents and purposes, compared to some of the other options HSBC Expat is easier (ironically) to set up.

[foxwendal]

- Set up a PB account which will keep your assets in custody in Singapore

@john_1122 you have a Julius Baer account right? Should check if they'll simply let you switch it to a SG one, if you haven't already.

[Kowloon72]

Well not really, some other options:

- Swissquote Lux is a registered bank in Luxembourg
- Keytrade Bank is a registered bank in Luxembourg
- Option of setting up SCB Singapore account
- Set up a PB account which will keep your assets in custody in Singapore

BUT for all intents and purposes, compared to some of the other options HSBC Expat is easier (ironically) to set up.

I have HSBC SG account, but can't buy UK stocks with it, what about SCB?

[pin]

I have HSBC SG account, but can't buy UK stocks with it, what about SCB?

There is another thread where someone has been able to open an SCB SG bank account and then an investment account afterwards once the bank account has been opened.

You need to be SCB Priority in HK and have HKD1M in your account to be able to open an SCB SG bank account from Hong Kong.

[Paxbritannia]

It seems very difficult to open a HSBC expat account online. Does anybody know of a bank that 1) I can open while in HK, 2) is not under the jurisdiction of the HK government, 3) I can buy stocks and bonds in different countries, at low fees.

So far I only know HSBC Expat, Standard Chartered (can open an account in Singapore if you have a Prime account in HK), and Swissquote (tiny bank). With Citibank you can only buy stocks in USA, so it doesn't qualify.

I was able to get it done entirely online - did it to get a GBP100 refer a friend offer.

[john_1122]

No point in HSBC Expat. Please note that Sharedealing (that you use to buy stocks/ETFs through Expat) is cheap but the balance you have there does not count towards your HSBC Premier relationship balance.

That's true. You need GBP 50,000 in the savings or current account to keep the HSBC Expat.