HSBC Direct US -> HSBC Direct Taiwan

Business Money
#1

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.

#2

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.

#3

It looks like I’m in the opposite position as you, but with the same idea. I opened an HSBC Direct.tw 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?

#4

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