[freeier]

actually i am not surprised, many of the banks in US/UK rip the consumers off. Even in Singapore you will prob get like 2% spread in forex bid-offers.
I remembered seeing larger than 10% bid offer from the bank counters in London... but that was long time ago. i'd think that US banks wld be in a competitive environment

[GoldenDomer]

Oh Yeah I made it clear. I asked for intra-account transfer and tele transfer, HSBC gave me a rate of 7.5 on the condition that I do a 10K USD deal with them. I even showed them the webpage that KIA listed but they said Hong Kong offer such rates but not here in NY .

I decided to use my Citi ATM card in HK to withdraw HKD, sounds doable?

Originally Posted by PDLM

You are sure that HSBC understand that you are asking simply to transfer money from your own USD account to your own HKD account?

If they think that what you want to do is withdraw HKD in cash in New York then I can see that might be a bit more expensive.

[PDLM]

Originally Posted by GoldenDomer

I decided to use my Citi ATM card in HK to withdraw HKD, sounds doable?

Yes. And get an HSBC account set up here ASAP then do a USD-USD transfer from your US HSBC account (which will cost you nothing if you are HSBC Premier and not much otherwise) then do the conversion here.

[GoldenDomer]

Thanks. I'm a HSBC Premier and will do the USD-USD transfer today.

Very appreciated.

Originally Posted by PDLM

Yes. And get an HSBC account set up here ASAP then do a USD-USD transfer from your US HSBC account (which will cost you nothing if you are HSBC Premier and not much otherwise) then do the conversion here.