[Question] Which bank can accept HKD wire transfers?
For my business, I need to be able to accept Hong Kong Dollar wire transfers, and SEPA transfers in USD and Euro. And then convert those into USD, and write checks in the US. The lower the fees, the better.
Is an "international bank account" what I need? Should I go with HSBC, or another company?
Should I instead travel to Hong Kong and Europe, and set up local bank accounts there?
Any help is appreciated.
Posted Apr 20, 2017, 12:30 PM UTC
22
Your USD account can accept any currency as long as you dont mind your bank converting the paid currency into USD at whatever market rate they choose.
If you want to execute your own FXs then you should go with multiple accounts.
Its definitely not worth travelling to set up accounts in foreign countries. Better to set up a suite of currency accounts with a large international bank like HSBC, CITI, BoNY etc...