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23-08-2005, 01:20 PM
| | Registered User | | Join Date: Aug 2005
Posts: 9
| |  Paying for Banking
Is anyone else amazed that you have to pay for all your banking services in Hong Kong? Coming from the UK where I can't remember the last time I paid to have a credit card (and certainly didn't have to have min balance in account or ensure it was active) this has been a real eye-opener.
Or maybe I've been looking at the wrong banks???! | |
23-08-2005, 01:27 PM
| | Registered User | | Join Date: Jun 2005 Location: Hong Kong
Posts: 6,010
| | | Credit card fees have come and gone in the UK over the years. As have explicit banking charges.
Banks aren't charities (in the UK or HK) you pay for them in one way or another, but in HK it is more explicit at the moment.
But, as you say, if you keep a relatively small amount of money in the account then the explicit charges disappear. Basic credit cards are normally free in HK.
Last edited by PDLM : 23-08-2005 at 01:30 PM.
Reason: typo
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23-08-2005, 01:29 PM
|  | Resident Peacekeeper | | Join Date: Apr 2003 Location: Pokfulam Age: 40
Posts: 10,385
| | | Most credit card companies will waive the charges if you ask them nicely.... or threaten to cancel. | |
23-08-2005, 01:32 PM
| | Registered User | | Join Date: Aug 2005
Posts: 37
| | | Quite frankly, I'm amazed that I have to pay for my HSBC currenty account here.....up to $80 if I use the counter service! | |
23-08-2005, 01:39 PM
| | Resident Peacekeeper | | Join Date: Apr 2003 Location: Pokfulam Age: 40
Posts: 10,385
| | | A local HSBC current account or one from back home? | |
23-08-2005, 01:47 PM
| | Registered User | | Join Date: Mar 2005
Posts: 483
| | | We argued and charges were waived for the first year. We are now coming up to the end of the first year, let the fun begin............. | |
23-08-2005, 05:13 PM
|  | Registered User | | Join Date: Jul 2005 Location: HK Island Age: 29
Posts: 344
| | | Banking fees here are not bad at all compared to Australia.
Standard charges there include...
** standard, non-negotiable fee of ten Aussie bucks a month, just for holding your account
** fees of up to AU$5 for a withdrawal through a rival bank's cash machine network
** fees up to $2.50 per withdrawal - even from the banks own cash machine - if you make more than 5,10 whatever withdrawals in a month
** if you have a direct debit set up but not enough cash, they'll honour the payment for you but stick you with an AU$ 60 fee (thats about 360 Hong Kong bucks!!) | |
23-08-2005, 05:17 PM
|  | Favorite Admin | | Join Date: Dec 2002 Location: Hong Kong
Posts: 1,614
| | | I've never paid for a credit card. i even received a Platinum card in the mail and I wasn't even employed at the time. | |
23-08-2005, 05:33 PM
| | Registered User | | Join Date: Aug 2005 Location: Jordan, Hong Kong Age: 28
Posts: 5
| | | definitely worth arguing about on most charges in HK. Throw in a few names (Amex etc) and am sure they will waive the charges. | |
23-08-2005, 06:19 PM
| | Registered User | | Join Date: Mar 2005 Location: TST, Kowloon Age: 39
Posts: 136
| | | I have Premier accounts with HSBC and there are no charges whatsoever. As far as credit cards go you can ask them to waive the charges. Even Amex is waiving charges on Platinum cards these days. | | Tools | Search | | | | | Rate This Thread | | | All times are GMT +8. The time now is 01:43 PM. | |
