Bank Account With Hsbc - How Useful?

[Peterpan]

My advise

- Put your savings with HSBC Offshore (tailored to expats, english proficiency, stable and secure)

- Bank with a local Thai Bank (move money from HSBC Offshore to your local Thai bank once a month or whenever you need money for your monthly expenses)

- Use your HSBC Offshore Visa Debit Card to widthdraw money from the ATM if you need quick money or use it as a credit card (better to wire funds because of the service fees charged when using the debit card)

This is good advice, However for Offshore you could also consider HSBC has branches in Singapore, again perfect English, efficient and polite Singaporean staff also internet banking and it's just down the road from Phuket (given the cheap airlines) when you want to pop into your branch. Singapore is also a stable economy without monetary restrictions.

You can open an HSBC account in Singapore in a number of currencies from their IPB in Isle of Man while you are still in UK. They are unable to open an account in Thailand for you from there.

Have you seen This thread

and also this thread

I like HSBC in Singapore as well, but it can be inconvenient for some as you need to physically go there in order to open an account. HSBC Jersey's sole purpose is strickly aimed to expats and they seem a better choice for the "never need to visit the branch" type of banking.

HSBC in Singapore, Hong Kong, USA and Jersey all offer international level banking, find out more at www.hsbc.com/hsbc/intzone_banking

Also someone else mentioned that HSBC Offshore (Jersey) is an expensive bank - I agree - but it depends how much money you have. I mean, one only needs £60,000 in cash and/or investments (roughly $120,000 USD) to become a premier customer and have significant lower fees.

For someone who doesn't plan on being a Premier customer with HSBC Jersey, I think they are better alternatives but for people with £60,000 (or equivalent in another currency) it's a no brainer.

For a local Thai bank I would recommend Kasikorn Bank. The level of their english speaking staff at the calling center is good. You will have a Visa Electron Debit Card which can be used in Thailand or abroad to widthraw funds at every ATM who displays the Visa logo. You can also opt for a virtual Visa card (web card); which is a Visa card number for online purchases where you control how much funds you want available on the card.

Kudroz Has good advice

We do the same as what you do, Ive been working overseas since 1980 and HSBC in Isle of Man is for saving.

I have never visited the Branch in I of M and dont need too. 5.1% free of Tax auto transfer to current account in HSBC Isle of Man. Just transfer to Thailand anytime, money is safe even from the X wife and her Lawyers.

Me and the Mrs have an account each at the Kasikorn bank same branch just for normal living, Im out the country most of the time working and that visa electron has never let me down.

[Khun Bob]

My advise

- Put your savings with HSBC Offshore (tailored to expats, english proficiency, stable and secure)

- Bank with a local Thai Bank (move money from HSBC Offshore to your local Thai bank once a month or whenever you need money for your monthly expenses)

- Use your HSBC Offshore Visa Debit Card to widthdraw money from the ATM if you need quick money or use it as a credit card (better to wire funds because of the service fees charged when using the debit card)

This is good advice, However for Offshore you could also consider HSBC has branches in Singapore, again perfect English, efficient and polite Singaporean staff also internet banking and it's just down the road from Phuket (given the cheap airlines) when you want to pop into your branch. Singapore is also a stable economy without monetary restrictions.

You can open an HSBC account in Singapore in a number of currencies from their IPB in Isle of Man while you are still in UK. They are unable to open an account in Thailand for you from there.

Have you seen This thread

and also this thread

I like HSBC in Singapore as well, but it can be inconvenient for some as you need to physically go there in order to open an account. HSBC Jersey's sole purpose is strickly aimed to expats and they seem a better choice for the "never need to visit the branch" type of banking.

HSBC in Singapore, Hong Kong, USA and Jersey all offer international level banking, find out more at www.hsbc.com/hsbc/intzone_banking

Also someone else mentioned that HSBC Offshore (Jersey) is an expensive bank - I agree - but it depends how much money you have. I mean, one only needs £60,000 in cash and/or investments (roughly $120,000 USD) to become a premier customer and have significant lower fees.

For someone who doesn't plan on being a Premier customer with HSBC Jersey, I think they are better alternatives but for people with £60,000 (or equivalent in another currency) it's a no brainer.

For a local Thai bank I would recommend Kasikorn Bank. The level of their english speaking staff at the calling center is good. You will have a Visa Electron Debit Card which can be used in Thailand or abroad to widthraw funds at every ATM who displays the Visa logo. You can also opt for a virtual Visa card (web card); which is a Visa card number for online purchases where you control how much funds you want available on the card.

Kudroz Has good advice

We do the same as what you do, Ive been working overseas since 1980 and HSBC in Isle of Man is for saving.

I have never visited the Branch in I of M and dont need too. 5.1% free of Tax auto transfer to current account in HSBC Isle of Man. Just transfer to Thailand anytime, money is safe even from the X wife and her Lawyers.

Me and the Mrs have an account each at the Kasikorn bank same branch just for normal living, Im out the country most of the time working and that visa electron has never let me down.

Is I o M that good to keep assetts protected from x spouses ? I thought Switzerland or Carribean Trusts were a more sure way but would be interested to hear from you... I have looked at the I o M banking laws and without an I o M court order, little can be done. HSBC Singapores rules seem to be a little more open, but now clear on this. Even Swiss banks now have caises about spousal access ! Best I have seen so far is a Cook Island Trust, but I guess that is expensive...

[Peterpan]

My advise

- Put your savings with HSBC Offshore (tailored to expats, english proficiency, stable and secure)

- Bank with a local Thai Bank (move money from HSBC Offshore to your local Thai bank once a month or whenever you need money for your monthly expenses)

- Use your HSBC Offshore Visa Debit Card to widthdraw money from the ATM if you need quick money or use it as a credit card (better to wire funds because of the service fees charged when using the debit card)

This is good advice, However for Offshore you could also consider HSBC has branches in Singapore, again perfect English, efficient and polite Singaporean staff also internet banking and it's just down the road from Phuket (given the cheap airlines) when you want to pop into your branch. Singapore is also a stable economy without monetary restrictions.

You can open an HSBC account in Singapore in a number of currencies from their IPB in Isle of Man while you are still in UK. They are unable to open an account in Thailand for you from there.

Have you seen This thread

and also this thread

I like HSBC in Singapore as well, but it can be inconvenient for some as you need to physically go there in order to open an account. HSBC Jersey's sole purpose is strickly aimed to expats and they seem a better choice for the "never need to visit the branch" type of banking.

HSBC in Singapore, Hong Kong, USA and Jersey all offer international level banking, find out more at www.hsbc.com/hsbc/intzone_banking

Also someone else mentioned that HSBC Offshore (Jersey) is an expensive bank - I agree - but it depends how much money you have. I mean, one only needs £60,000 in cash and/or investments (roughly $120,000 USD) to become a premier customer and have significant lower fees.

For someone who doesn't plan on being a Premier customer with HSBC Jersey, I think they are better alternatives but for people with £60,000 (or equivalent in another currency) it's a no brainer.

For a local Thai bank I would recommend Kasikorn Bank. The level of their english speaking staff at the calling center is good. You will have a Visa Electron Debit Card which can be used in Thailand or abroad to widthraw funds at every ATM who displays the Visa logo. You can also opt for a virtual Visa card (web card); which is a Visa card number for online purchases where you control how much funds you want available on the card.

Kudroz Has good advice

We do the same as what you do, Ive been working overseas since 1980 and HSBC in Isle of Man is for saving.

I have never visited the Branch in I of M and dont need too. 5.1% free of Tax auto transfer to current account in HSBC Isle of Man. Just transfer to Thailand anytime, money is safe even from the X wife and her Lawyers.

Me and the Mrs have an account each at the Kasikorn bank same branch just for normal living, Im out the country most of the time working and that visa electron has never let me down.

Is I o M that good to keep assetts protected from x spouses ? I thought Switzerland or Carribean Trusts were a more sure way but would be interested to hear from you... I have looked at the I o M banking laws and without an I o M court order, little can be done. HSBC Singapores rules seem to be a little more open, but now clear on this. Even Swiss banks now have caises about spousal access ! Best I have seen so far is a Cook Island Trust, but I guess that is expensive...

The courts tried to get at my money they even had the account number, my x wife photo copied eveything behind my back. I thought it was frozen, but it wasnt they told the courts to F off, I of Man is self governed.

Me Her

[DFCarlson]

Never close a bank account back home, always keep it a little bit active. We tend to forget, but anti-money laundering rules have made it incredibly hard for accounts to be opened. If at all possible, it is wise to keep at least one bank account and one CC open back in your home country....just in case you need them.

I agree strongly with samran, I moved to LOS in May and kept my US account (including ATM card) and two credit cards open. The two US credit cards may drop to one next year, we'll see, it may depend on whether or not I can get a credit card issued by my Thai bank. I also have a US address which serves as my legal address in the States. These things can come in mighty handy, you never know what the future will bring.

IMHO you don't want to burn any more bridges than are absolutely necessary.

Edited January 31, 2007 by DFCarlson