Dear friend,
I'm looking for some sort of US account that offer direct deposit and withdrawal in small US$. Any idea where I could set up an 'affordable' offshore account? I need it to receive US fund from oversea. I checked out some of the local banks, they do have US accounts. I was told whenever I transfer US fund to the US account, they will make 2 irritating conversions (from US to S$ and from S$ to US) so that the banks could profit from the spreads. Is that true?
This is what I have found out from HSBC Singapore
Offshore Bank Account
A flexible international current account, for day to day banking.
Available in sterling, US dollars or euro
24 hour phone and internet banking - Info
Internationally accepted debit card in sterling or US dollars - Info
Chequebook in sterling or euro
International money transfers at reduced rates (via Internet Banking)
Regular payments by standing order
No account opening fee*
Minimum balance £5000, US$ 10000, or €10000
Overdraft available on request
Apply for an Offshore Bank Account.
*There's no account opening fee for our Offshore Bank Account. However a minimum relationship balance of £25,000 (or currency equivalent) must be maintained, to prevent a £20 monthly service charge from being applied to your account. Click here for more information.
Any other similar account that offers similar service with less initial deposit?
