HSBC UK to HSBC AUS!
 

Guys n Gals,

Me and the missus both have HSBC bank accounts here in blighty and after much um'ing and ah'ing we have decided we are gonna have a chat with them and talk about opening up an Aussie account and maybe transferring funds with little 'fuss' as a is possible.

NOW-(there is always a but or a now!) have anyone done this themselves and lived to tell the tale of success?

My cons to doing this were 4 fold-

1) We're moving to Adelaide and there is one branch in the city and 2 ATMs throughout SA!
(However we do alot of our banking on-line)

2) Its been a few years but how much do other ATM's charge for you to use their's on average to withdraw cash?

3) Do the coles/bi-lows and woolworths of this world do 'cashback?'

4) Money transfers-do you think HSBC will give us a good rate of exchange due to the fact we're already customers? Or do you think Hi-FX is the way to go?

Can anyone shed any light on this one? :confused:

Thanks so much!

Re: HSBC UK to HSBC AUS!
 

You are better off going with one of the big local banks with a lot more ATMs. I think it's about $2 for each withdrawal you make in a different banks ATM.

ANZ are quite good because you can get a Visa debit straightaway, although I think Commonwealth and Westpac have more ATMs and branches.

Re: HSBC UK to HSBC AUS!
 

Alot of Brits use HSBC.
You can withdraw cash from anyone's ATM and the first 5 or so per month are free (check exactly how many!!).
There are few branches, but you can use the internet for most things and you can withdraw cash at any post office for nothing too.
sorry, no idea about cashback.
you'll get a better rate of exchange than Hi-FX and others IF you are an HSBC Premier customer. (i've compared, but there's not much in it unless you are changing alot)
I doubt "ordinary" customer will get a better rate.

Re: HSBC UK to HSBC AUS!
 

....and you can use your HSBC debit card to pay at Coles, Woollies etc.

Re: HSBC UK to HSBC AUS!
 

we use HSBC and no real problems.

If you get cheques (rare) you can pay them in at Australia Post.
Internet banking is used for most things, 5 free ATMs per month from any bank's ATM machine.
I have found that getting an exchange rate from HIFX, I can use this with HSBC UK and they will match it. HSBC UK charges 10 quid per international transfer and money is normally in Aussie account within days (sometimes just one).

Biggest pain with HSBC is if you need a back cheque- if you are buying a house or car- and for this you need to go to the branch.

Re: HSBC UK to HSBC AUS!
 

HSBC UK and HSBC Aus are two completely different businesses. It's no easier to open an HSBC Aus account in Aus than it is any other bank. (Never used to be anyway, don't know if they've decided to be helpful now).

Re: HSBC UK to HSBC AUS!
 

HSBC UK can help you open a HSBC Aus account before you leave the UK. Or maybe that's HSBC Jersey....who definitely can coz we have the application forms. :confused:

Re: HSBC UK to HSBC AUS!
 

HSBC UK can help you, and will make you premier customers fee free for 6 months if you put the proceeds from your house sale into that account (for any length of time). They may also guarantee a mortgage to you when you get out here (though the amount may vary) if you have a good credit history in the UK.

Re: HSBC UK to HSBC AUS!
 

For what it's worth (not much I'm sure) we've had nothing but trouble with HSBC since we've been here. Have a good shop around the banks and find one that will give you the most and charge you the least. Banking seems completely different here than in the UK. Good luck. :)

Re: HSBC UK to HSBC AUS!
 

We considered opening an account with HSBC Aus as we had an account with them in the UK. When I asked for the paperwork, though, they sent me the one which needs a "100point check". Whereas when I spoke to the ANZ (and I would assume it's the same for the other major banks) they told me that as long as I "verified" the account (by going into the branch with my passport) within the first 6 weeks of landing in Australia, then there was no need for the 100point check.

Re: HSBC UK to HSBC AUS!
 

Hmm. We've banked with First Direct (i.e., HSBC) for many, many years in the UK. Phoned them up to ask about helping us open an HSBC Aus account and they couldn't help in any way. The HSBC Australia website's not much help either... ended up with a Westpac account just because they made it really easy to open one!

Cheers
b

Re: HSBC UK to HSBC AUS!
 

Have you looked at Citibank?
Only have a few branches in the cities but as I live near London and will be moving to Melbourne this isn't a problem.
They appeal to me because as far as I can see, you can use your card in any other banks ATM's and you will not get charged. I might be wrong but worth investigating.

Re: HSBC UK to HSBC AUS!
 

When we moved to Adelaide, we opended an HSBC account (which is called a Savings Account) within 2 days - and it was a week before Xmas.
If you have a money transfer document from HIFIX etc (to show them how much you have got), it can be a lot easier.
I would certainly reccomend using HIFIX and not a "normal" bank as you get a better deal
There are no banking fees as long as you`re in credit, you get 5 withdrawals a month for free from any ATM (where other banks charge you if you don`t use theirs) withdraw $1000/day at ATMs.
Coles, Woolworths, Target, KMart etc will give you "cashback" up to $400 on any transaction (but $1000/day rule stills applies)
A Cheque book is provided, again with (I think) 6 cheques per month without being charges - I used the cheque book when we had tradies working in our house.
Try and get a letter from HSBC in UK indicating your credit worthiness (ie never been late in payment for Morgage etc) as this will help also
If you use internet banking (which we do also) it will be easy to transfer money from one Oz account to another. Initial set up of account is a bit of a pain as you have said there is only one branch in the city, but if you bring enough cash out with you it shouldnt be an issue.
You will need to ring HSBC in advance once you are in Oz to organise a time/date to open your accounts.
Hope this helps, good luck
Martin

Re: HSBC UK to HSBC AUS!
 

There are no banking fees as long as you`re in credit, you get 5 withdrawals a month for free from any ATM (where other banks charge you if you don`t use theirs) withdraw $1000/day at ATMs.
Coles, Woolworths, Target, KMart etc will give you "cashback" up to $400 on any transaction (but $1000/day rule stills applies)
A Cheque book is provided, again with (I think) 6 cheques per month without being charges - I used the cheque book when we had tradies working in our house.
Try and get a letter from HSBC in UK indicating your credit worthiness (ie never been late in payment for Morgage etc) as this will help also
If you use internet banking (which we do also) it will be easy to transfer money from one Oz account to another.Hope this helps, good luck
Martin[/QUOTE]

We set up with an HSBC account when we were in the Uk- We had never banked with them or any of their subsiduries previously but we contacted the sydney head office and they were very helpful and it was very straightforward.There are only 2 HSBC branches in the whole of WA but this has not been a problem in the slightest as you can deposit and withdraw money (up to $1000 per day) at the post office and you can use ATM'S too as previous poster said 5 transactions for free per month. You can also get cashback at virtually all supermarkets and many other outlets-its as standard as a 'have a nice day' for them to ask 'any cashback?' that facility is called EFTPOS.We were shocked to see how the other banks levy charges for so many unessesary things here-you pay an 'account fee' just for them to manage your account-thats even if you are in the red! but not with HSBC, anyway we have had no trouble with them AT ALL and they have always been very efficient I would have no trouble recommending them

Re: HSBC UK to HSBC AUS!
 

We did have HSBC UK and opened HSBC Aus initially when on a reccie over here.
We opened both a regular account and a 'foreign currency' account ie one in GBP but based here (however charges were high even for receiving money into the account). It was useful to begin with and transfers can be done HSBC to HSBC for £10. However we have closed them now and bank with Commonwealth.