HSBC Direct US -> HSBC Direct Taiwan

hi everyone, I’m about to move to Taiwan next month from the US, and I’m planning to open a HSBC Direct Taiwan savings account once I’m there. I read the forum threads on this bank but couldn’t quite make out these details I want to know.

My questions are:

  1. is there a better way, other than wiring, to move USD from my HSBC Direct US savings account to the Taiwan savings account?

  2. is 1.5% interest (offered by HSBC Direct Taiwan) the market leader in the island?

  3. what is a good checking account in Taiwan with no or low monthly fees? I don’t care about interest in this account.

thanks for taking the time to answer my questions.

HSBC Direct US said they cannot wire transfer directly from the savings account, but they can do it if you transfer to a checking account.

It looks like I’m in the opposite position as you, but with the same idea. I opened an HSBC account in the hopes that it would allow transfers to other US-denominated HSBC accounts, but apparently that’s not the case (“Not yet,” they said).

After getting hit with a US$30 exchange and transfer fee, I’m still looking. Think it would be possible to open a US-dollar account here and transfer to an online bank without incurring those kinds of fees?

I guess you can get traveler checks then bring them to deposit at the other account? Never tried it, but I’d guess there’s also an exchange fee, but probably less than a direct wire.

Argh, wished they can live up to their self-proclaimed nickname of “World’s Local Bank” better :s