I was going to open a HSBC account from here in the UK (existing customer) until I found out that they wanted A$2000 to open the account.
That, and the fact that they have increased o/d fees beyond belief (check out their profits recent years - cashing in on people's misery) in recent times has made me decide to go with someone else, even if we have to pay a whole $5 a month for the privilege.

Cadman

True, but you don't have to keep it in there after it's opened. You can take it all back out and just leave $1 in there.


Can't comment on that. Never use an O/D facility.

S

Correct. The only catch with the $2000 thing is that below that figure the interest rate is negligible. However, at $2000 and above the whole amount gets the regular interest. This works on a daily basis, so dropping below $2k for 24 hrs has little effect on the month's interest.