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How to open a USD bank account in HK that gives 2% interest rate in the saving account?

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  1. #11

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    Quote Originally Posted by Kowloon Goon:
    6 months is a joke.
    sorry what is the joke about, i am curious...

  2. #12
    Quote Originally Posted by freeier:
    sorry what is the joke about, i am curious...
    Not enough time for you to get anything decent out of it.

  3. #13

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    Quote Originally Posted by Kowloon Goon:
    Not enough time for you to get anything decent out of it.
    ic.. i thought its still a decent tenor.. especially if its some cashflow planned for next feb/march.. e.g. tax or whatever else..
    its usually those 1mth and 2mth that are more annoying..

    that said, if you really want longer tenor you would be talking about 2y/3y types.. which require bonds.
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  4. #14

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    6 months is plenty. I prefer 3 months.


  5. #15
    Quote Originally Posted by MandM!:
    6 months is plenty. I prefer 3 months.
    Well, if you have enough cash to make 3-6 months useful then I would argue that the money is better placed somewhere else.

  6. #16

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    Quote Originally Posted by Kowloon Goon:
    Well, if you have enough cash to make 3-6 months useful then I would argue that the money is better placed somewhere else.
    I disagree, I prefer the safety of having cash. I am very anti-stock market. If that suits you, great, but I am happy with my method.
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  7. #17

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    Original Post Deleted
    Well like I said DBS does not distinguish between new and old funds. The great time deposit rates always apply. If you need to move funds from one bank to the other, I believe you can only transfer USD, HKD and CNY. All 3 accounts are eligible for current/chequebook as well. I don't believe any other fund offers this. You can always wire the money too I guess at a fee.

  8. #18
    Quote Originally Posted by MandM!:
    I disagree, I prefer the safety of having cash. I am very anti-stock market. If that suits you, great, but I am happy with my method.
    Not a fan of the stock market as well, but I opt for purchasing property when the cash flow is good (not so concerned about cash flow at my age).

  9. #19

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    Quote Originally Posted by Kowloon Goon:
    Not a fan of the stock market as well, but I opt for purchasing property when the cash flow is good (not so concerned about cash flow at my age).
    Short-term time deposits still add up, the amount for 3 months might be smaller, but it's also good to have the liquidity. If you lock up 1-2 years, you have to take a hit if you need the cash early. I am encountering that right now and might need to pull back a couple TD's early for something I bought.
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  10. #20

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    Quote Originally Posted by shri:
    If its fixed deposits take a look at AABest for HKD / USD rates:

    https://www.aabest.com/en/timedeposi...by=2&orderby=1
    Thanks for this! Just put in a 3 month time deposit with Hang Seng while I wait and decide what to do with my funds.
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