ATM's and Credit Cards

Sep 11th, 2007, 05:44 AM
  #61  
 
Join Date: Jan 2003
Posts: 32,987
mlb, I posted a new thread called On-shore vs. Off-Shore Exchange rates for Thailand and got lots og good responses. It looks like despite the publicity about this issue, it will not impact on us.
Kathie is offline  
Sep 11th, 2007, 08:22 AM
  #62  
mlb
 
Join Date: Apr 2005
Posts: 77
Yes, thanks Kathie for posting the new thread. I was reading it yesterday and hope this is actually the case. Please post while you're in Thailand and let us know the exchange rates you are getting. I believe you're leaving in November? I'll be there in December.
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Sep 11th, 2007, 08:32 AM
  #63  
 
Join Date: Jan 2003
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Yes, I'll be there in November and will post about exchange rates.
Kathie is offline  
Sep 12th, 2007, 09:58 AM
  #64  
 
Join Date: Jul 2007
Posts: 868
Just an FYI. Received a response from HSBC and it looks like there is now a $1.50 non-HSBC ATM withdrawal fee for foreign transaction on the Online Savings account.
smartcookie is offline  
Oct 4th, 2007, 05:17 PM
  #65  
mlb
 
Join Date: Apr 2005
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I thought I would update this thread. I just received a message on my HSBC online savings account that the foreign currency fee will increase from 1% to 3%. This is combined with a non-HSBC ATM fee now of $1.50. Both fees just to acces my own money - plus their APR is now 4.8%.

Therefore I have now opened a Capital One money market account. The APR is 5% and they assured me over the phone and on their website that they do not charge any fees when accessing any ATM - this includes no foreign currency fee. It reminds me of what HSBC use to be like. In addition, Capital One Mastercards also charge no fees - they even eat the 1% fee that Mastercard charges.

Just thought I'd pass along the info for anyone with the HSBC account.
mlb is offline  
Oct 4th, 2007, 06:00 PM
  #66  
 
Join Date: Jan 2003
Posts: 32,987
mlb, I don't know what kind of HSBC account you have, but the internet savings account has been changed from 0% foreign exchange fee to 1% foreign exchange fee. That's not enough for me to switch accunts, but if they went to a 3% fee, I would switch accounts.
Kathie is offline  
Oct 4th, 2007, 06:18 PM
  #67  
mlb
 
Join Date: Apr 2005
Posts: 77
Hi Kathie: Unfortunately, this is what was on my latest eStatement for my HSBC online savings account:

An important message about upcoming changes to your account:
Effective November 5, 2007, the currency conversion fee for foreign transactions* (transactions performed outside the U. S.) will increase from 1% to 3% for all qualifying Debit & ATM card transactions. *Excludes Premier Checking, Premier Investor and Premier Asset Management Accounts.

Yep, this was enough for me to switch too.
mlb is offline  
Oct 4th, 2007, 07:36 PM
  #68  
 
Join Date: Jan 2003
Posts: 32,987
Yipes! I haven't gotten any notice. I'll have to call them. If they've made that change, they've lost anothree customer.
Kathie is offline  
Oct 4th, 2007, 07:54 PM
  #69  
 
Join Date: Jan 2003
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kathie//// just drop 100 K in there to make you a premier customer...
rhkkmk is offline  
Oct 4th, 2007, 07:59 PM
  #70  
 
Join Date: Jan 2003
Posts: 2,107
I just called HSBC and was told the same thing.....that really stinks.....there was nothing in my last statement but I am due to get another one in about ten days.

I don't think there is much I can do as it is too much trouble to change banks and who knows but the new bank will start charging as well.....
Mara is offline  
Oct 4th, 2007, 08:42 PM
  #71  
 
Join Date: Jan 2003
Posts: 32,987
Well, I called HSBC and told them I would be closing my account and also wrote to them.

I've opted to open an E*Trade max rate checking and complete savings account. I have a number of accounts with E*Trade, plenty to keep me from having any service charges. The ATM card from E*Trade withdraws money from the checking account (which earns 4% as long as you have at least 5k in it). The savings account pays 5.05% and you can transfer money from savings to checking up to 6x per month. I've initiated electronic transfers from HSBC into my two new E*Trade accounts that will withdraw almost all of my money from HSBC. I'll withdraw the rest in a few days when my interest posts.
Kathie is offline  
Oct 4th, 2007, 09:18 PM
  #72  
mlb
 
Join Date: Apr 2005
Posts: 77
Mara: Its not too much trouble to change banks unless you have a lot of direct deposits/withdrawals. It took me 3 steps with Capital One and I had my savings account. My first transfer was approved today and I opened it Tuesday.

You're right though - Capital One could decide to start charging fees at anytime - although one of their mottos is "hassle-free banking" and no fees are why they use this. I know their credit cards have been fee-free for quite some time. I'll let you know if anything changes!
mlb is offline  
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