Best Bank/country/time To Open A Usd Personal Account?

[OxfordWill]

I searched around but couldn't find any threads already on this.. sorry if there are.

I've been getting tired of the USD to GBP rate and I want to start storing my USD income in USD somewhere outside of the UK and US.

Where should I do this? Has anyone got first hand experience to impart? Anyone aware of good current deals on opening personal USD accounts? Is your bank to be avoided?

My SO worked for the yellow bank here in Bangkok, and the best deal they can get me on a USD account is a pretty bad setup with some small but frequent charges for doing almost everything. I am sure other countries or banks can do better. I would be depositing from online payment gateways and foreign bank accounts, if that makes any difference.

Thanks in advance..

[OxfordWill]

If anyone can direct me to a successful end I will give them a big big kiss. And maybe a beer.

[naka]

HSBC in Singapore have non-resident multi currency accounts. Check their website.

Naka.

Edited August 24, 2007 by naka

[calibanjr.]

HSBC in Singapore have non-resident multi currency accounts. Check their website.

Naka.

I can recommend HSBC also. Mine's in HK, do a lot of transfers to Tland, nominal fees, quick execution (web-based w/secure per -transaction key). Multi-currency.

[khunandy]

HSBC in Singapore have non-resident multi currency accounts. Check their website.

Naka.

I can recommend HSBC also. Mine's in HK, do a lot of transfers to Tland, nominal fees, quick execution (web-based w/secure per -transaction key). Multi-currency.

I agree with calibajr, One thing to consider is that these accounts come with a pin number generator (key ring gizmo) if lost or damaged a trip to Hong Kong may be required to get a new one, set up phone banking as well as a back up.

[samran]

HSBC in Singapore have non-resident multi currency accounts. Check their website.

Naka.

I can recommend HSBC also. Mine's in HK, do a lot of transfers to Tland, nominal fees, quick execution (web-based w/secure per -transaction key). Multi-currency.

I agree with calibajr, One thing to consider is that these accounts come with a pin number generator (key ring gizmo) if lost or damaged a trip to Hong Kong may be required to get a new one, set up phone banking as well as a back up.

HSBC doesn't require a key-ring gizmo, and their online banking is secure with two tiers of security. Fee's are slightly more expensive though, 20 quid a month for accounts under GBP60K and 15 quid per transfer to any other HSBC account in the world.

[OxfordWill]

Thanks. Any other recommendations?

[old wanderer]

I have a muti-currency account in Singapore with CITI....they are great to deal with, and can do everything on-line, and have a personal contact if I need to fax anything. Minimum deposit $20,000 USD better programs with $150,000.

I am in the USA, and can do a CITI to CITI international xfer for #10.

Takes a few hours to set up in Singapore.

[daxbr]

Best exchange rates, low fees, decent interest, free wire transfers.

https://www.fidelity.com.hk/personal/en/our...ices/index.html

[taxout]

Perhaps HSBC in the UK doesn't use a key generator for online banking, but HSBC in Hong Kong does.

[rainman]

I have a USD foreign currency account at Bangkok Bank. No work permit or anything required to open it, just your current visa. You also get the better conversion rates when withdrawing into Thai Baht. For example, the rate was 32.95 for an incoming wire transfer (always higher than cash). But on that day I withdrew through the foreign currency account into Thai Baht and they gave me a rate of 33.7!

[asiaexpat]

I searched around but couldn't find any threads already on this.. sorry if there are.

I've been getting tired of the USD to GBP rate and I want to start storing my USD income in USD somewhere outside of the UK and US.

Where should I do this? Has anyone got first hand experience to impart? Anyone aware of good current deals on opening personal USD accounts? Is your bank to be avoided?

My SO worked for the yellow bank here in Bangkok, and the best deal they can get me on a USD account is a pretty bad setup with some small but frequent charges for doing almost everything. I am sure other countries or banks can do better. I would be depositing from online payment gateways and foreign bank accounts, if that makes any difference.

Thanks in advance..

I have a HSBC Premier account in USA with HSBC accounts in Korea and Thailand in local currency and USD. By using the Global function on HSBC web site I can transfer funds to any account without charges. Bangkok branch has special rules for resident and non resident so you should check out their web site to see how they will work for you. The Korea and Bangkok branches use special security flobs and require personal appearance to start internet service. I also have a CITIBANK account but find it lacking when compared to HSBC.

[samran]

Perhaps HSBC in the UK doesn't use a key generator for online banking, but HSBC in Hong Kong does.

Sorry, just re-read my post. I meant to say that HSBC Jersey doesn't have the keyring gizmo, but HSBC Thailand do.

[OxfordWill]

Thanks guys- much appreciated.

[Captain Chaos]

Perhaps HSBC in the UK doesn't use a key generator for online banking, but HSBC in Hong Kong does.

Sorry, just re-read my post. I meant to say that HSBC Jersey doesn't have the keyring gizmo, but HSBC Thailand do.

HSBC Thailand and Singapore (both of which I have, although not in USD) have the gizmo things. Singapore certainly offers some USD options but I've never investigated the details. I use Abbey Offshore in Jersey for my GBP stuff. Customer service very good, products seem competitive, and they also offer some USD options. Perhaps another one worth checking out?

[Khun Bob]

Some of the smaller asian banks in Singapore may be a good bet now - like UOB, OCBC and there are a few others. These may not have as higher charges/deposit requirements as the bigger banks (ie HSBC, Citi) and may give good rates on foreign currencies or time deposits.

Also consider Malaysia - it is not that difficult to open accounts there and the big players are there too. The charges/requirements for having an HSBC account in Malaysia is significantly less than in Thailand or Singapore (well they were for me) - and you get a free key fob number generator.

If you do some further research, please do post back here for the benefit of everyone