Discuss the different banking options, rates, offers and perks.
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CDB68
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by CDB68 » Thu, 04 Sep 2014 1:07 am
Hello,
I have a Singapore Pte Ltd and AMEX has granted me a corporate credit card. I also bank with HSBC.
However my problem is that my business is global and I want to make around $40 to $50,000 dollars of payments per month in USD and Euros.
My corporate AMEX is in SGD and AMEX will charge me 2.5% commission on every transaction. And although I have some SGD revenues, most are in USD. This means I will be hit with additional commission in moving funds from USD to pay the card.
So what I need is a USD $ denominated card in Singapore. AMEX used to have it but it's been removed as an option for anyone who banks in Singapore!
Any options or ideas?
Thanks
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stiwi
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by stiwi » Sun, 07 Sep 2014 2:24 am
There is no cc in USD as far as I know. SCB has USD debit card that can be used directly for payments in USD. Only for personal accounts though.
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PNGMK
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by PNGMK » Sun, 07 Sep 2014 4:29 am
Try HSBC - they used to have one.
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stiwi
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by stiwi » Sun, 07 Sep 2014 9:24 am
PNGMK wrote:Try HSBC - they used to have one.
HSBC & Citi provide only ATM card for FCY accounts. Transactions via Citi debit card goes directly via SGD account regardless if it is connected to FCY account.
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PNGMK
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by PNGMK » Sun, 07 Sep 2014 4:56 pm
stiwi wrote:PNGMK wrote:Try HSBC - they used to have one.
HSBC & Citi provide only ATM card for FCY accounts. Transactions via Citi debit card goes directly via SGD account regardless if it is connected to FCY account.
Probably all due to that FATCA.
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stiwi
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by stiwi » Sun, 07 Sep 2014 8:30 pm
PNGMK wrote:
Probably all due to that FATCA.
No, it has always been like that. It is just that HSBC and Citi provide you ability to withdraw FCY cash without the conversion (ATM only) but they don't support POS transactions for the same. SCB does however only for their USD high account.
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