Need advice for an automatic bike

[Naam]

sorry, double posting!

Edited September 30, 2013 by Naam

[KittenKong]

taking a brief look at NatWest's website reminds me of snake oil sellers which sell their product in a dozen different packages to cure dozens of ailments

So? They all pay better interest than HSBC Singapore which is all that concerns me.

If I actually wanted to deposit several millions of GBP with instant access (why?) I would probably be more inclined to split the deposit between multiple deposit takers anyway, or indeed just buy short UK gilts. All of those would pay better interest than HSBC Singapore, and would probably be more secure.

Like I said, most people depositing large sums of money with HSBC Singapore at 0.01% are probably doing so because they dont want it reported, or indeed simply because banks in the West wont accept their money in the first place due to its dubious provenance.

It's a bit like all the dodgy expats who used to live in Spain and who now live in Thailand.

[ExpatJ]

taking a brief look at NatWest's website reminds me of snake oil sellers which sell their product in a dozen different packages to cure dozens of ailments

So? They all pay better interest than HSBC Singapore which is all that concerns me.

If I actually wanted to deposit several millions of GBP with instant access (why?) I would probably be more inclined to split the deposit between multiple deposit takers anyway, or indeed just buy short UK gilts. All of those would pay better interest than HSBC Singapore, and would probably be more secure.

Like I said, most people depositing large sums of money with HSBC Singapore at 0.01% are probably doing so because they dont want it reported, or indeed simply because banks in the West wont accept their money in the first place due to its dubious provenance.

It's a bit like all the dodgy expats who used to live in Spain and who now live in Thailand.

Not really. I opened my account in Singapore because a) its easier to take money out of the country there in future when i want it - as opposed to my other HSBC account in Indonesia and formerly Thailand where there are more restrictions b ) having an account there allows me to trade HK and Sg stocks through HSBC c) in HSBC Premier it takes me 5 minutes basically to open an account anywhere- without even having to visit the country or have any residence/work there. I wouldn't use any HSBC investment product though because I feel they charge too high management and other fees.

Edited October 1, 2013 by ExpatJ

[rosswlkr]

Should add some more of my Singapore banking experiences here:

HSBC: Terrible service and inflexible unless you are a 'premier' customer. Call themselves 'the worlds local bank'. It's nonsense, they are completely different in every country (had a UK account, couldn't withdraw money at a Singapore branch - how is this the world's local bank???

UOB: Caused me huge grief when I left Singapore for Thailand and needed my cards and online banking dongle replaced, and to change address. They lost the forms I had fedexed them for 8 weeks then finally turned around and said 'my signature didn't look quite right'. So I have to travel to Singapore to do it.

CITIBANK: Best by a long shot. Now they are finally offering a debit card also, I will stick with them. Did ALL verification, change of address, new ATM card and Internet dongle, ALL OVER THE PHONE and had it delivered to my Thai address within 3 days. Amazing.

[yoshiwara]

Should add some more of my Singapore banking experiences here:

HSBC: Terrible service and inflexible unless you are a 'premier' customer. Call themselves 'the worlds local bank'. It's nonsense, they are completely different in every country (had a UK account, couldn't withdraw money at a Singapore branch - how is this the world's local bank???

.....then be a premier customer! The advantage of that is that you get premier service based on your deposits in the UK even if you have a lower account profile in Singapore/HK.

The second point is that if you have a UK debit card you can withdraw your cash so what is the problem?

[Naam]

taking a brief look at NatWest's website reminds me of snake oil sellers which sell their product in a dozen different packages to cure dozens of ailments

So? They all pay better interest than HSBC Singapore which is all that concerns me.

If I actually wanted to deposit several millions of GBP with instant access (why?) I would probably be more inclined to split the deposit between multiple deposit takers anyway, or indeed just buy short UK gilts. All of those would pay better interest than HSBC Singapore, and would probably be more secure.

Like I said, most people depositing large sums of money with HSBC Singapore at 0.01% are probably doing so because they dont want it reported, or indeed simply because banks in the West wont accept their money in the first place due to its dubious provenance.

It's a bit like all the dodgy expats who used to live in Spain and who now live in Thailand.

i don't dare to contradict you my Lady!

[KittenKong]

Not really. I opened my account in Singapore because a) its easier to take money out of the country there in future when i want it - as opposed to my other HSBC account in Indonesia and formerly Thailand where there are more restrictions ....

Dont get me wrong: I'm sure there are entirely legitimate reasons for opening an account with HSBC Singapore, including all the ones you mention.

But what seems unlikely to me is anyone would deposit large sums there unless they have no other choice or perhaps because it is just for a day or three prior to moving it elsewhere/buying property or other assets etc etc. Their 0.01% interest rates are just too low.

[Wimbledon]

DOES ANYONE KNOW HOW LONG IT Takes to open a hongkong or Singapore Hsbc bank acct and also re ceiving an ATM AND INTERNET ACCT?

Sent from my SCH-R760 using Thaivisa Connect Thailand mobile app

[Wimbledon]

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured. You might take a look at this

[yoshiwara]

DOES ANYONE KNOW HOW LONG IT Takes to open a hongkong or Singapore Hsbc bank acct and also re ceiving an ATM AND INTERNET ACCT?

Sent from my SCH-R760 using Thaivisa Connect Thailand mobile app

If you have a Premier card from the UK or elsewhere, then if you want to open a lesser level account in HK, you will have access to Premier facilities and they will sit you down and create a username and password for internet access and phone banking. I don't know what the default is for standard accounts, if different. For your debit card, this will take a few days. You might prefer to request collecting the card from the bank rather than having them post it to you.

[Wimbledon]

hsbc hongkong is better i believe Passport and Drivers licence if it shows your address on it ......thats it and some money

[yoshiwara]

Not really. I opened my account in Singapore because a) its easier to take money out of the country there in future when i want it - as opposed to my other HSBC account in Indonesia and formerly Thailand where there are more restrictions ....

Dont get me wrong: I'm sure there are entirely legitimate reasons for opening an account with HSBC Singapore, including all the ones you mention.

But what seems unlikely to me is anyone would deposit large sums there unless they have no other choice or perhaps because it is just for a day or three prior to moving it elsewhere/buying property or other assets etc etc. Their 0.01% interest rates are just too low.

Individuals are not choosing to deposit their money in Singapore Dollars or HK Dollars for the interest rates as compared to the interest rates available from Thailand banks. They are depositing their capital in those places for a feeling of greater safety. The second point is that the deposits do not have to be held in SGD or HKD. Deposits can be converted and held in a myriad of currencies yielding different interest rates and it is a simple process. And of course monies can be invested in stocks, funds etc.