Emi sepa for chinese resident

[markdk]

Hello, of Chinese friend (resident in china) need to open a persojal bank account in Europe with the possibility to cash out daily as much as possible, which emi you would suggest that won't apply commission ?

 

[cuno]

Try Wise and Revolut they are the biggest, if they don't work for you try‌ Airwallex or Zen

 

[daniels27]

Could you maybe give more details on the problem? I am asking because your request‌ is hard to fulfil. EMIs typically don't change commission on very limited monthly amounts. And‍ also it is not clear whether personal or for business as Airwallex was recommended.

Where is the money currently located? And where does it need to be. What currency does⁠ he have and what currency does he need? They are probably better solutions than Revolut⁤ Ultra for £45/month and still a £2000 cash out limit. He can do more than⁣ that already for free.

I personally would recommend any Hong Kong bank. He can open⁢ it in person and they are catering the Chinese with their "problems" very well. But︀ I am sure he is aware of that already.

 

[markdk]

Thank you ..
We need in Europe. For cash out in Europe average from 10‌ to 20k x month , I know paysera allow 600 eur x day for free‍ ( i asked them and waiting )

She would receive wire transfer in eur from⁠ Hong kong

Revolut apply 2% commission , if possible I would like to find someone⁤ like paysera if exist

 

[SCHLOSSFINANZ]

try

https://www.solo.ge
they have the highest limits for cash on ATMS

 

[daniels27]

HSBC Hong Kong
https://www.hsbc.com.hk/debit-cards/products/mastercard-debit-card/Free from⁣ any HSBC ATM in Europe. You can withdraw EUR directly from the card if you⁢ hand EUR in Hong Kong.

 

[Clank]

HSBC no longer has any atm in Europe except for the UK and Malta.⁠

 

[daniels27]

Then, you can upgrade to HSBC premier and enjoy free widthdrawals‍ at any ATM.

 

[Clank]

I’m a Jade customer and I don’t have free withdrawals at‍ any ATM outside the country of my bank account.

 

[daniels27]

Are you Jade / Premier‍ Elite in Hong Kong? If yes, you can apply for the card here:
https://www.hsbc.com.hk/debit-cards/products/mastercard-debit-card/You get 0.4% cash back (with a debit card) and free withdrawals anywhere with Premier (except⁠ in Hong Kong) or Jade. You can check the fees here:
https://www.hsbc.com.hk/content/dam...ards/mastercard-debit-card/tariff-pricing.pdfYou can basically⁤ put your other debit card in the drawer once you have this one.

 

[Clank]

My bad, by free i understood they⁣ reimburse atm fees like some US banks do.

 

[markdk]

Thank you a lot for all info⁣ .
Is there any requirement to be a jade or premier account ?
The Chinese⁢ resident can open the account remotely ?
Considering eur account , do you know daily︀ /monthly cash out limit ?

You are very kind

 

[daniels27]

You need to set the limit first:
https://www.hsbc.com.hk/help/travel/atm-withdrawal/I think the maximum is 40k HKD per day.

For HSBC Hong Kong, she should be⁠ able to open the account online or she can check with a branch in China.⁤ Premier requires a minimum balance of 1,000,000 HKD in Hong Kong, otherwise it is 380⁣ HKD per month (depending on the situation, you may be better off paying 40 HKD⁢ per widthdrawal).

 

[SCHLOSSFINANZ]

needless to say that HSBC will close the account if a mainland chinese private client‌ withdraws 10-20k EUR / monthly on overseas ATM...

 

[daniels27]

But what‍ you actually want to do? Get money out of China or is it in Hong⁠ Kong already?

 

[markdk]

Get money out of China..

 

[daniels27]

Ok, but once you have it in Hong Kong, you can easily transfer it elsewhere‌ or withdraw it there. Why cash it out in papers, and then in EU?