[zeroth]

any idea on which bank in hong kong has decent rates on savings account? right now, i'm thinking of opening an account in dbs or bea. any bad experience with these banks? thanks

[discobay]

zeroth, they are all much the same in offering very low rates. Higher rates are available with balances over $100,000. The best HKD time deposit rates are on offer from DBS and BEA. They also have shorter queues.

[zeroth]

thanks discobay, i'm not into long-term deposits here as i'm only planning to stay until early next year...so i'm just looking for a simple savings account. for credibility, any idea? and which is most convenient (like atm access, acceptable bank charges, etc.)

[dong]

Since we are on this topic, I would like to check if anyone has any suggestions on ways to remit money back home (Singapore) without incurring too much bank charges?

I was wondering if say, I transfer money from my HSBC account in HK to another HSBC account in Singapore, will there be any charges?

Would appreciate any suggestions and/or ideas.

Cheers!

[discobay]

zeroth, HSBC and BEA (Jetco) have ATMs all over HK.
dong, you are essentially wanting to perform a TT (telex transfer) which will incur a bank charge at either end. If you do not mind a delay it would be cheaper to issue a bank draft/cashier's cheque and post it over.

[coolgirl]

I have one with HSBC. Whats the usual rate? I dont want to get ripped off by my Account Manager...

[discobay]

Do you mean you have a HKD time deposit account? If so the rate gets better the higher the balance you have.

[coolgirl]

I have a savings account with them with measly 2.75%. I founda 6-month td with public bank for 3.8%. So i transferred some money there...

[muse07]

Aren't there any banks that offer higher interest rates for online savings accounts? Back in Australia I was getting about 5.75% variable from ING direct. I would transfer funds there if it wasn't for the fact that the Aussie dollar is so high now.

[PDLM]

Plenty of banks in Hong Kong offer rates of that order in AUD or NZD (over 6%). You can't dissociate the currency and the rate available in that currency.