Hi Can you add to this list ? IB : HK office, can fund HKD through Citibank HK Etrade : HK office, can fund USD through HSBC HK Saxo : HK office , can fund several currencies I think through HSBC account
BTW the idea of my post was how to trade US and other international markets using funds parked in HK bank accounts, while avoiding wire and bank intermediary fees. I was used to corporate accounts which have a rather high daily limit, but just checked individual accounts in HK banks and if you don't wish to block 1million+ HKD to get premier status or similar with the banks, daily payment limits will make wiring money internationally to fund a brokerage account a killer with fees. Also if one could advise me on a a HK bank allowing higher daily transfer limit on personal accounts, I'd be most thankful.
Do you mean that the fund parked in CitiBank is linked to IB so that there is no need to sweep between Citi and IB manually? By the way, what is the ceiling for the account protection in CitiBank Hong Kong?
I guess (as I never held a HK citibank account) that you would need to transfer the funds to IB. What I meant is the cost of a transfer varies from 0 to 50HK between HK banks, hence even with a low daily limit one could manage to fund a brokerage account in a cost efficient way. Transferring to the US or Europe cost beteween 100 and 600HKD including intermediary bank fees, hence with a daily limit of 200 or 300k HKD it could be very costly to fund a similar brokerage account. Any input on which other international brokerage firm can receive funds in a HK bank ?
Also it seems it's possible to waive this daily limit when mailing TT orders to HSBC, but it's a bit of a headache from overseas, especially if one has to confront their dreadful telephone system to confirm it's processed. I'm looking to use strictly internet banking.
I used to use Jardine Fleming unit trusts (it is not a bank, of course) to wire money to my US brokerage account. It is free.
I do not understand you, you can transfer more maney. https://www.ebanking.hsbc.com.hk/1/2/faq/popupfaqtlmt
Thanks Hagen, I'll check properly their website as they offer various accounts and visit one of their offices end of this week. I was told last week that one needs to keep around 1 million HKD balance to get the 1million per day limit with HSBC, but it might not be the case (note that for corporate account, getting a 10million daily limit for registered beneficiaries doesn't require any minimum relationship with HSBC) I'm a litte lazy to look up for the link now but Standard Chartered website shows a 200k limit only, and the clerk there mentionned 300k.
LuisHK, I send you the maximun limits. HKIB where can I find out more info about Jardine Fleming unit Trust? Many thanks
Luishk, I send you the limits HKIB where can i find out more info about Jardine Fleming unit trusts ? Many Thanks