Which bank has smallest spread for USD?

[assiak71]

Standard chartered?

Whats next in line

Thanks.

 

[reddevil0728]

Standard chartered?

Whats next in line

Thanks.

U go google the fx rates of the different banks.

 

[oceanicmanta]

Standard chartered?

Whats next in line

Thanks.

Stan Chart staff rate is better

For USD, I also find HSBC is better than UOB, DBS & OCBC ... but still need to check n compare

 

[celtosaxon]

I’ve checked into this a few times and the local bank board rates are all quite similar, generally around 1.2% bid-ask spread, or 0.6% from mid market - that is about double the spread compared to competitive money changers. Citibank is much worse and even if you are converting large amounts and call their exchange desk, they still only give you rates similar to local bank board rates.

TransferWise is about 0.1% better than banks at 0.5% from mid market when considering the fee, but also includes the transfer.

Interactive Brokers allows you to trade forex and then your spreads can get paper thin, better than money changers.

 

[chrisloh65]

Standard Chartered exchange rate for USD using LiveFX is about 0.4% spread (to spot rate) but if you are Gold Member you get 0.1%.

Stan Chart staff rate is better

For USD, I also find HSBC is better than UOB, DBS & OCBC ... but still need to check n compare

 

[oceanicmanta]

Standard Chartered exchange rate for USD using LiveFX is about 0.4% spread (to spot rate) but if you are Gold Member you get 0.1%.

wow did not know that

0.1% is pretty good ... wonder if they offer 0.1% if convert 200k on the very first time, or have to already be in Gold tier

 

[chrisloh65]

You have to hit $200k conversion first, then check to make sure Standard Chartered had upgraded you to Gold Membership (you can see your membership tier at the top when you go to LiveFX page), before you can get the discounted rate of 0.1% spread.

wow did not know that

0.1% is pretty good ... wonder if they offer 0.1% if convert 200k on the very first time, or have to already be in Gold tier