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HSBC ATM Card

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ggh

PopStar

Joined: May 13, 2006
Posts: 1077
Location: Shanghai, Puxi
Status: Offline

Posted: Aug 16, 2006 - 09:51 AM
Post subject: HSBC ATM Card

Can the local china HSBC ATM card be used to withdraw money from HSBC ATM overseas?

YariGuy

LoopKicker

Joined: July 13, 2004
Posts: 853
Location: Puxi
Status: Offline

Posted: Aug 16, 2006 - 10:10 AM

I don't think there is a local HSBC ATM card as far as I know. HSBC is not allowed to conduct RMB transaction for locals or to issue local ATM cards yet.

kenkingdotcom

Reacher

Joined: Jan 08, 2006
Posts: 295
Location: No Longer Shanghai'd
Status: Offline

Posted: Aug 16, 2006 - 12:00 PM

I went to the HSBC on Huai Hai Road to inquire about opening an account to withdrawal HKD in HK. The lady said that I can only open an RMB account here, but I cannot withdraw HKD in HK. I asked about the PowerVantage account and she said China doesn't offer that account type.

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sinned69

SuperStar

Joined: Sep 01, 2004
Posts: 1460
Location: China, Middle East, Asia Pacific
Status: Offline

Posted: Aug 16, 2006 - 12:56 PM

In short NO.

-the local HSBC ATM card? they do have a card but not for use in ATM's as far as I'm aware. I opened my account here more than 3yrs ago and at that time I was issued a cardboard 'type' card, which I physically use with the HSBC tellers for transacting RMB or USD (USD account only which means I can deposit & withdraw any USD currency I have put into the USD account, but cannot exchange RMB for USD using that account without the appropriate plethora of paperwork!).

I think "Yariguy" is correct, as I'm sure HSBC would inform me if there was some change in their ability and policy concerning their banking operation here on the mainland. Ofourse rules and regulations are changed as frequently as underwear Wink

here...

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LaVecchiaSignora

SuperStar

Joined: July 24, 2006
Posts: 1531

Status: Offline

Posted: Aug 16, 2006 - 01:03 PM

No, HSBC does not have an ATM card for locals. From December on, it should be possible for locals to get an account with HSBC. China will open its banking sector to foreign competition to comply with WTO commitments, but HSBC still needs to go through the proposals.

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Andreas
Board Royalty

Joined: Feb 27, 2004
Posts: 6207
Location: 31 N 121 E

Posted: Aug 16, 2006 - 03:07 PM

Why not open an HSBC account in HK ? You can do all the paperwork with HSBC here in Shanghai. You get an ATM card that works everywhere, and you can apply for an international credit card on the same account. Have mine for 12 years now and never had the need for a local bank account.
And HSBC's internet banking is the best I have seen.

Adam7

Rocker

Joined: May 11, 2004
Posts: 759

Status: Offline

Posted: Aug 16, 2006 - 03:33 PM

you can get the HSBK/PuDong Dev bank credit card, that works overseas.

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sinned69

SuperStar

Joined: Sep 01, 2004
Posts: 1460
Location: China, Middle East, Asia Pacific
Status: Offline

Posted: Aug 16, 2006 - 03:36 PM

Quote:

you can get the HSBK/PuDong Dev bank credit card, that works overseas.

HSBK...????

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Adam7

Rocker

Joined: May 11, 2004
Posts: 759

Status: Offline

Posted: Aug 16, 2006 - 03:38 PM

Sorry, typo and mistake. Should be HSBK & Bank of Communications credit card

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janlynn
Wonder Wit

Joined: July 19, 2005
Posts: 3593

Posted: Aug 16, 2006 - 03:41 PM

Got HSBC card from home and can use in any HSBc ATM in the world without fees. I have a USD account here and a RMB account.

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pist-agn
Ranter
Ranter

Joined: Nov 16, 2004
Posts: 501
Location: Canada - soon to be Shanghai

Posted: Aug 16, 2006 - 05:19 PM

FYI - They will have banking cards availible by January of 2007... there is a minumum balance of $2000 USD required at that bank (may already be common knowledge?)