renminbi deposit account, recommendations


#1

Anyone have a recommendation for the best bank in Taipei to open a renminbi deposit account with?


#2

Don’t know if it’s the best however my wife opened one with MEGA bank without any trouble. For transferring back and forth a HSBC account both sides is probably the easiest, not sure of the regulations though. Between Taiwan and Hong Kong with HSBC it can simply be done online in any currency except NTD, for free if you have a Premier account on one side or the other.


#3

I was looking at HSBC alright but the catch is you have to have 3 million NT to avoid a 1,000 per month fee, or that’s what it looks like on their website anyway. Ill check out Megabank, thanks for the tip.


#4

For the premier account their is a minimum deposit requirement to avoid the fee, I don’t think there is a fee for their standard accounts. A premier account gets you a slightly better exchange rate and free transfers, certainly not worth a 1000NT a month just for that though.


#5

Oh right, I read that wrong so, guess I will check out HSBC too so!