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Q: can I open an Australian bank account, in Hong Kong?
I am Canadian ...living in mainland China ... going to Hong Kong soon ... and I look at interest rates in Australia and think they are better rates than what I get in Canada or China ..... can I just go open an account with a minimal deposit and then maybe later move some savings to the account? ...... Just thinking .... cause I am going to Hong Kong and I can find nothing good to do there..... horse racing is finished, Disneyland doesn't do anything for me... nor does Chinese opera, ...... fishing villages just fish, wonder if I could go with them for a day/few hours.
Is Hong Kong only good for big business, visa runs and expensive hotels and over-priced dinners?
10 years 41 weeks ago in Money & Banking - China
The Hong Kong branches of Australian banks are only for commercial transactions. Unless it is for a business account, you would need to open it at an Australian branch, and provide at least two pieces of identification, one being photo ID (passport, licence, etc).
As far as I know, you have to physically go into a branch to open a personal account.
Why you wanna do it in HK, also possible to open Australian AUD account in mainland China but mostly offshore, like Standard Bank, they have also very interesting products in AUD. Of course deposits needs to be higher than a normal account, I mean thought around 10,000 or 15,000 AUD but if you interested I can check it for you. Beside interest rate, now with the AUD currency rate, very attractive for long term, to switch expensive RMB into AUD and wait for AUD recover in coming years. So you also earning on the currency swap 5-10% over few years time, excluding the interest rate.
Actually, BK is right, and I have been trying to think of the name of that bank "standard bank", for sometime, it is British and you can open an all AUD account
Thanks guys .... think I found it.
