[tx75070]

Does anyone have experience transferring money from a Hong Kong HSBC account to a US Bank of America account? From what I understand HSBC allows you to transfer money out overseas for $100 HKD no matter how large the transfer. I want to find out if Bank of America charges a fee to receive the money in.

[PDLM]

I don't have experience to BoA specifically, but all the international transfers I have done had fees at both ends of roughly equal sizes. When you set up an online transfer HSBC allows you to elect whether the far-end charges will be deducted from the amount remitted or from your account here.

[applefan]

Do you mean a wire transfer? If so, yes, BofA does charge a fee for incoming wire transfer. If I remember correctly, it was something like US$30 or $40. If you have online banking, send them a message after you log in and they respond pretty quickly.

[potter]

Originally Posted by applefan

Do you mean a wire transfer? If so, yes, BofA does charge a fee for incoming wire transfer. If I remember correctly, it was something like US$30 or $40. If you have online banking, send them a message after you log in and they respond pretty quickly.

Yea you are right. BoA has high fees for transfers, in the US$40 area.

[tx75070]

Originally Posted by potter

Yea you are right. BoA has high fees for transfers, in the US$40 area.

I found out you can transfer into a BoA brokerage account without incurring fees. Haven't tried it yet, but thats what the BoA folks on the investments side told me

[jngai]

HSBC will charge you HK$130 to transfer money online from an HSBC account to an BOA account....and BOA will charge you US$15 for this incoming transfer. i've done it...

[HKBanker2007]

whatever you do, just don't do a cash advance. I was told by a cust serv rep that there is no cost to this. What they didn't mention was that there is a international charge fee of 3%. Amount was rather substantial, so I was not a happy camper to lose out on 3% of it.

Tx75070 - I'm from the 75060!

[aa88]

Are you sending USD to BoA, or is it HKD that has to be exchanged somewhere along the line? If so you stand to get ripped off in terms of exchange rate using any bank. Don't know about HK banks but some US banks charge a fee to recieve money from overseas.