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Virtual Banks comparison 2021

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  1. #31

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    Quote Originally Posted by freeier:
    Got email from mox dropping the savings rate to 0.3% and only on the first 250k HKD.. anything else is 0.01% and above 500k its 0%.

    So from the look of it no momentum or anything other than the initial hot air and everyone is pulling back, that is in against market when banks like DBS is starting to quote 1.0% for 1y time deposit.. shows just how meaningful the whole virtual bank drive seems to be working for HK..
    Where is DBS offering 1%?

  2. #32

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    Quote Originally Posted by Paxbritannia:
    Where is DBS offering 1%?
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    https://www.dbs.com.hk/personal/prom...OnlineTD-promo

  3. #33

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    For guys that like fixed deposit, i actually appreciate DBS's system alot.. they just put their decent deposit rate online and you can get them thru. CNH is given at 2.4% p.a. and now HKD back up to 1%. I know these are not inflation beating numbers but for liquid assets they are useful. No irritating problem of 'branch rate' etc.etc.. where you have to go into the branch just for the RM to try to convince you to buy investment products when you only want fixed deposits (always happen in Singapore).

    But remember don't use the 'default roll over deposit and interest' option when you set fixed deposit in HK DBS.. i had some rolled over into 12mth 0.01% deposits.. and cumblesome to undo it..

    pin and Cash Trader like this.

  4. #34

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    Is DBS the current best offer? 12 months is a bit long, 3-6m would be better for me and those DBS rates are in line with Mox, so I might as well keep Mox..


  5. #35

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    Yeah the ones that want to force you into a branch to fill in a form are the worst. I see some BOC branches advertising 4% on HKD but I'm sure that's painful to get...


  6. #36

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    OK so nobody is going to talk about Stablecoin interest accounts......

    Just joking.


  7. #37

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    The thing about those 4% is, they are not even a full year deposit.. most are just for 1 month or some even just 7 days.. so entirely nonsense..

    Key difference between DBS and Mox, is the max amount you can place.. Mox only allows like 250k for that 0.30%.. easily breached...

    shri likes this.

  8. #38

    Revolut has removed Hong Kong from their list of countries/regions.

    Hong Kong had been listed with "Coming Soon!" under it, similar to many other markets where they eventually launched. However, it seems that Revolut is now giving up on Hong Kong for the foreseeable future.

    Revolut continues to forge ahead and is predicted to be in 100 markets by the end of this year.

    timonoj likes this.

  9. #39

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    Oh wow, I got curious and clicked on shri's DBS link in earlier Feb post.

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    https://www.dbs.com.hk/personal/prom...OnlineTD-promo


  10. #40

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    Quote Originally Posted by HSY:
    Oh wow, I got curious and clicked on shri's DBS link in earlier Feb post.

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    https://www.dbs.com.hk/personal/prom...OnlineTD-promo
    HSBC offers similar rates (2% for 1 year) you will still lose money with where the inflation is going....
    Wait a few months for the next hike and you might get even better rates (and then again a few months....)