[Official] HSBC Premier

[quekkb]

as a foreigner in other countries, the HSBC bank in those foreign countries allow foreigner like you to set up account?

i have plans to move abroad when i retire, and i heard hsbc is a good account to manage asset across 2 countries, in particular that it allow transfer of funds between hsbc accounts without transaction fee

but i wonder if it is worth it to fund a hsbc account to premier status just to use their global fund transfer service, when major banks in singapore can also do overseas transfer with a reasonable fee

so i wonder if i'm missing something exceptional about hsbc premier for this purpose...

Yes, HSBC overseas allows you to open bank account in foreigner countries. Global transfer between HSBC accounts are linked so it is instant and very convenience. It is also good for travelling overseas as I have local debit card to withdraw cash or tap to pay.

 

[quekkb]

doesnt seem to be the case. just need HSBC USA to assist u if trading using the HSBC USA account.

My approach:
1. Have succeeded in transferring USD from DBS to HSBC USA (zero fees).
2. Have moved USD from HSBC USA to HSBC SG.
3. Am now able to use my existing HSBC SG to trade.

I did the same process. Transfer USD from DBS (I have tiger broker account) to HSBC USA and transfer back to HSBC SG.

 

[quekkb]

I read that you need to be a US resident to open a self directed brokerage account with HSBC US.

You can open a a self directed brokerage in US with Etrade and others who accept foreigner. I use Etrade for more than 10 years. Last year, I moved all the securities to HSBC SG for convenience.

 

[epigram]

You can open a a self directed brokerage in US with Etrade and others who accept foreigner. I use Etrade for more than 10 years. Last year, I moved all the securities to HSBC SG for convenience.

Thanks for sharing! Now to overcome intertia to get the HSBC account opening going

 

[ykeen]

Yes, HSBC overseas allows you to open bank account in foreigner countries. Global transfer between HSBC accounts are linked so it is instant and very convenience. It is also good for travelling overseas as I have local debit card to withdraw cash or tap to pay.

anyway to open HSBC China account especially for the purpose of topping up Alipay/Wepay when you are in China to pay for purchases?

 

[epigram]

anyway to open HSBC China account especially for the purpose of topping up Alipay/Wepay when you are in China to pay for purchases?

Can. But unless process has changed since 2 years ago you have to present yourself at the Chinese branch twice - one to verify your passport. And another time couple weeks later to collect your ATM card. But note you cannot transfer CNY from Singapore to China. You have to deposit cash over the counter or do forex over the counter from your foreign currency account to RMB at the branch you opened your account

 

[rest1ess]

Can. But unless process has changed since 2 years ago you have to present yourself at the Chinese branch twice - one to verify your passport. And another time couple weeks later to collect your ATM card. But note you cannot transfer CNY from Singapore to China. You have to deposit cash over the counter or do forex over the counter from your foreign currency account to RMB at the branch you opened your account

Is CNY transfer from HSBC CN to SG also foc?

 

[epigram]

CNY transfer only to local accounts.

 

[quekkb]

anyway to open HSBC China account especially for the purpose of topping up Alipay/Wepay when you are in China to pay for purchases?

I plan to go to China year end to open HSBC China account.

 

[quekkb]

Can. But unless process has changed since 2 years ago you have to present yourself at the Chinese branch twice - one to verify your passport. And another time couple weeks later to collect your ATM card. But note you cannot transfer CNY from Singapore to China. You have to deposit cash over the counter or do forex over the counter from your foreign currency account to RMB at the branch you opened your account

You can transfer SGD from HSBC SG to HSBC China and then FX to CNY at HSBC China account.

 

[quekkb]

Is CNY transfer from HSBC CN to SG also foc?

You need to FX CNY to SGD in HSBC China and then transfer from HSBC China to HSBC SG.

 

[epigram]

You can transfer SGD from HSBC SG to HSBC China and then FX to CNY at HSBC China account.

Ah. I will try this.

 

[quekkb]

Ah. I will try this.

Have you open HSBC China Account?

 

[epigram]

Have you open HSBC China Account?

Yes.

Regarding FX using the app, it works! Thanks!

 

[quekkb]

Yes.

Regarding FX using the app, it works! Thanks!

Great. I plan to open HSBC China year end when I went to GZ for holiday. I have a CCB account so using HSBC China-HSBC SG can transfer fund to HSBC China, FX and transfer to CCB if required to withdraw cash.

 

[epigram]

Great. I plan to open HSBC China year end when I went to GZ for holiday. I have a CCB account so using HSBC China-HSBC SG can transfer fund to HSBC China, FX and transfer to CCB if required to withdraw cash.

They cant post the debit card to you outside of china so be prepared to return to the branch after about 2 weeks to collect it. That was my experience about 2 years ago. Hopefully it has improved. Your CCB account was opened in mainland?

 

[quekkb]

They cant post the debit card to you outside of china so be prepared to return to the branch after about 2 weeks to collect it. That was my experience about 2 years ago. Hopefully it has improved. Your CCB account was opened in mainland?

I think they can now post to you. Yes, CCB account is opened in Mainland.