Setting up an offshore account (low initial deposit)
Posted: Sat, 13 Jan 2007 10:33 pm
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?
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?
