[Melkir]

Originally Posted by KnowItAll

Needless to say if your North American bank has a branch in Hong Kong, you might want to use them also.

HSBC used to have a debit Visa, but it failed. You can use your ATM card at most locations using a service called EPS.

That's a bummer, I enjoy debit Visa for most of my monthly subscription services (games, vonage, etc)

I noticed a large 'Bank of America' building in HK and I've sent inqury as to if transactions are possible in local or foreign currencies at that or other locations.

[berryplucker]

Surely for all the monthly subscriptions you just put them on a straight visa card? And if you take the Citbank CX card you get AsiaMiles as well.

[Melkir]

Originally Posted by berryplucker

Surely for all the monthly subscriptions you just put them on a straight visa card? And if you take the Citbank CX card you get AsiaMiles as well.

I tend to shy away from credit cards, debit transactions can incur few fees or interest/finance charges on my part :-)

[berryplucker]

No interest charges if you pay the credit card bill automatically by direct debit.

If you can't control yoru finances then you have a bigger problem.

[cl23]

Thanks all

All your information is very valuable to me. I enquired about HSBC UK and they said the same thing - UK and HK operations are separate.

Just wonder if the credit card terms in HK are the same as in the UK - no fee/interest to pay if pay the full balance within the date the bank specifies (usually 54 days) and no annual fee either.

Do you guys find it is easy to pay everything by plastic rather than cash in HK? I hate carrying lots of cash around but noticed that in mainland china cash is preferred.

[nivantj]

Cl23,
Mostly same as UK except 54 days, its around a month from the date bank issues the statement. Annual fee is also waived but you got to be little alert bcoz after one/ two year most banks would try to sneak it into your statement. All you need is to call them and ask to waive it, should be refunded in your next statement. If not, simply ask them to cancel the card and they will fall down to your feet.
And Yeah its pretty easy to pay everything by plastic. However, you may find it much easier to pay certain small amount transactions by Debit Card (i.e. Octopus).

[avla]

In some cases you will have to pay a premium to use credit, around 1 or 2 %.

[JJexpat]

HSBC for me. Found the same thing, tho, in that in Victoria, BC,Canada, the HSBC maintained that it was a completely different entity so there was no point in opening an account there. Re credit cards - so long as you have an autopay and are able to actually cover the bills every month, the card is free - and if you maintain a given amout in the account, you bank services may be free as well. Visa Premier also has an absolutely great concierge service - really amazing, and free. Will be very disappointed if I lose the card when I switch employment!