Re: Credit Card or ATM


"Chris Blunt" <mail@xxxxxxxxxx> wrote in message
news:og4na41075vilr90lf9po8511uo8ht1ubb@xxxxxxxxxx
On Tue, 19 Aug 2008 14:46:37 -0700 (PDT), "jfeng@xxxxxxxxxxx"
<jfeng@xxxxxxxxxxx> wrote:

On Aug 19, 12:11 pm, Chris Blunt <m...@xxxxxxxxxx> wrote:
You shouldn't make that assumption. Just because a bank has a branch
in another country doesn't mean they give their customers free ATM
withdrawals there.
Do you have any experience to the contrary? I would be surprised if a
branch of my bank in another country treated me the same as any other
foreign customer.

I have an account with HSBC in the UK, and although they claim that
cash withdrawals from HSBC ATM machines overseas are free, there is
actually a hidden charge of 2.75% built into the exchange rate
conversion.

I also have an account with Nationwide in the UK, and if I use their
ATM card overseas I can withdraw cash with no charges and no exchange
rate loading at any bank I want.

So even though I'm a HSBC customer, I'm better off using another
bank's ATM card in their machines when traveling overseas than I am
using an HSBC card.


Indeed. HSBC sells itself as the "world's local bank" but each country
operates as a separate entity. Being an HSBC Hong Kong customer gives you no
privileges with, say, HSBC India.

The only reasons I use HSBC is that (a) it was my last full-time employer's
bank and I'm too lazy to change (b) I don't have a permanent home and Hong
Kong is a convenient place to park money.

It's an expensive bank to be with. In their favour, they were fairly
responsive when my ATM card was hacked a couple of years back.

Cheers,
George W Russell
Bangalore


.

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