[utrosemary]

I am moving to HK from the US and would like to be able to transfer money between US and HK currency witout having too much trouble. Can anyone suggest a good bank that can do such without having to pay too much service fee?

I have heard that HSBC is probably the best choice. Does anyone have any recommondation as to what type of account I should set up? Thank you in advance for your help.

[shri]

I've researched this option a bit and I would recommend HSBC or Citibank.

http://www.us.hsbc.com/personal/chec...lationship.asp

They are the biggest and at most times the 'more sophisticated' bank in Hong Kong. Mind you, if your desposits are below US$10-20K, there are far more options available.

You do want to check with them what their transfer charges are for 'transfers within HSBC's network' i.e. from HSBC US to HSBC Hong Kong.

Citibank is also decent but they tend to have exhorbitant prices and generally have a bad attitude (reflected in several people I know who have worked or continue working there) towards low value customers.

You also might want to look at American Express, if you have a good long standing Amex account.

[GraemeK]

HSBC HK is easy to open an account with - just take along a letter of introduction from your HK employer, your passport and HK$100 in cash - you will have an account opened instantly. You can then transfer between HSBC US and HK fairly easily.

Transfering from HSBC HK - HSBC Overseas costs HK$100 if done in the morning online.

In general, the HK banking system is a vast improvement on anywhere else I have lived. Payments into and out of your account are cleared in the same day for example..

[Max]

Without question, HSBC is the best around. Opening an account is easy enough. Others include Bank of China, Bank of East Asia, AMEX, etc.. Alternatively, you could try the smaller ones like Wing Hang, or Asia Commercial Bank as they tend to give you more "personalised" service.

I wouldn't recommend DBS. I've dealt with them before and have had unpleasant experiences.

Good Luck.

[webdog]

If you are from US, why not open a bank account with Citibank? They provide the best service and the staff are extremely helpful, not so bureaucratic as HSBC. I can use my citibank card all over the world to check my statment with their local branches, and believe it or not, the teller machine even display in Chinese on your wish. Besides, their online banking system is also very sophisticated.