Inside: A Beating of a Dead Horse (Bank information)

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  1. #1

    Join Date
    Feb 2007
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    Tai Kok Tsui
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    997

    Inside: A Beating of a Dead Horse (Bank information)

    So, beating a dead horse here, I just wanted to ask a few questions about opening up a bank account in HK.

    I am a student and will be studying abroad in HK for the Fall 2009 semester. I will be opening up a bank account in HK, and was just curious what would be the best bank for me.

    I want low fees (none the better), low transaction fees, and I do not care about the interest rate. I also need to be able to keep foreign currency (USD and CDN) in it as well, again, with low to no fees. If possible, also be able to have dual currency as I will enter China a lot, but I do have a CCB account in mainland so not really needed.

    Also, I want to be able to trade stocks. I currently am a HSBC customer here in Canada and I have a HSBC invest direct account. They charge me ridiculous fees to trade ($300hkd minimum) so I rather get a local account (I heard it's $100hkd min on trades). Can I get an HSBC investment account and NOT bank with HSBC? Or is HSBC the best bank for me given my wants.

    Thanks


  2. #2

    Join Date
    Mar 2007
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    Gold Coast Marina
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    Just get a HSBC account. You have the most ATM's, multicurrency and probably easier to move money from canada.

    All the banks here are pretty awful - hsbc is just the largest.


  3. #3

    Join Date
    Dec 2008
    Posts
    2
    Quote Originally Posted by BryanL:
    So, beating a dead horse here, I just wanted to ask a few questions about opening up a bank account in HK.

    I am a student and will be studying abroad in HK for the Fall 2009 semester. I will be opening up a bank account in HK, and was just curious what would be the best bank for me.

    I want low fees (none the better), low transaction fees, and I do not care about the interest rate. I also need to be able to keep foreign currency (USD and CDN) in it as well, again, with low to no fees. If possible, also be able to have dual currency as I will enter China a lot, but I do have a CCB account in mainland so not really needed.

    Also, I want to be able to trade stocks. I currently am a HSBC customer here in Canada and I have a HSBC invest direct account. They charge me ridiculous fees to trade ($300hkd minimum) so I rather get a local account (I heard it's $100hkd min on trades). Can I get an HSBC investment account and NOT bank with HSBC? Or is HSBC the best bank for me given my wants.

    Thanks
    It is 50min on trades...

  4. #4

    Join Date
    Feb 2007
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    Tai Kok Tsui
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    997
    Quote Originally Posted by HK_Life:
    It is 50min on trades...
    50hk min on trades at HSBC HK or HSBC CDN?

  5. #5

    Join Date
    Apr 2009
    Location
    Hong Kong
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    6,076
    Quote Originally Posted by MovingIn07:
    Just get a HSBC account. You have the most ATM's
    I really disagree. There are probably more ATMs in the Jetco network which includes all the other banks except HSBC-owned Hang Seng. Plus HSBC has non-existent customer service.