If you would like to exchange large amounts of foreign currency, please perform remittance and declaration at HSBC (Taiwan) branches. Topofmaincontent BankingService Frequentlyaskedquestions(FAQ). HSBCTaiwan Bankaccounts FAQ Chooseasection Foreignexchangetransactions Deposits Foreignexchangetransactions Q01.WhichforeigncurrenciesareofferedbyHSBC(Taiwan)’sforeignexchangetransactionservice? HSBC(Taiwan)offersforeignexchangetransactionservicesforfundtransfersbetweenNewTaiwanDollardemandaccountsandforeigncurrencyaccounts,fundtransfersbetweenforeigncurrencyaccounts,andcashtransactions.OurforeigncurrencyomnibusdepositaccountsofferdepositsinUSDollar,JapaneseYen,CanadianDollar,AustralianDollar,SwissFranc,BritishPound,NewZealandDollar,SwedishKrona,HongKongDollar,Euro,SingaporeanDollar,Renminbi,andSouthAfricanRand.OurbankoffersforeigncurrencycashinUSDollar,HongKongDollar,BritishPound,JapaneseYen,Renminbi,andEuros.Theavailabilityofcashforeigncurrenciesdependsontheinventoryheldatthebranchatthetimeofexchange. Q02.WhichtypesofforeigncurrencycashareofferedbyHSBC(Taiwan)? Ourbank(exceptTungmenBranch)offersforeigncurrencycashinUSDollars,HongKongDollars,BritishPounds,JapaneseYen,RenminbiandEuros.TungmenBranchdoesn’tnotofferacashcounterIfyouhaveanyquestions,pleasekindlycallour24-hourContactCenterhotlineon+886266166000. Q03.Arethererestrictionsonforeigncurrencytransactionservicesbasedonthestatusoftheclient?Whatarethebusinesshoursforsuchtransactions? Clientsofourbankcanapplyforforeigncurrencytransactionservicesthroughinternetbanking,theCustomerContactCentre,orinpersonatabranchduringbranchbusinesshours.Afterbusinesshours,clientscanperformforeignexchangetransactionswithamountUSD20,000equivalentorabove(excl.NewTaiwanDollar)until 5:30PMthroughtheCustomerContactCentre.Wewouldliketoremindyouthat,ifthetransactionrequiresdisclosureofforeigncurrencytransactionstotheCentralBank,theclientisrequiredtoreportsuchtransactionstruthfullyaccordingtorelevantlawsandfilloutforeignexchangeremittanceortransactionreports. Q04.Arethererestrictionsonthedollaramountofforeigncurrencytransactionservices? IfyouperformexchangetransactionsbetweenNewTaiwanDollarsandforeigncurrenciesoverourbanksCustomerContactCentre,thecumulativeexchangeceilingperpersonperday(includingtransactionsatthebranchandallchannelsofourbank)mustbelowerthantheequivalentofNT$500,000(theceilingisNT$499,999).Ifyouwouldliketoexchangelargeamountsofforeign currency,pleaseperformremittanceanddeclarationatHSBC(Taiwan)branches.AsfortransactionsinRenminbi,eachnaturalpersoncannotexchangemorethanRenminbi20,000throughaccountsatallbanksinTaiwaneachdayaccordingtothecurrent“RegulationsGoverningForeignExchangeBusinessofBankingEnterprises.”Wewouldliketoremindyouthat,ifthetransactionrequiresdisclosureofforeigncurrencytransactionstotheCentralBank,theclientisrequiredtoreportsuchtransactionstruthfullyaccordingtorelevantlawsandfilloutforeignexchangeremittanceortransactionreports. Q05.Whataretherestrictionsonminorswhenpurchasingandsellingdepositsdenominatedinforeigncurrencies? Naturalpersonsunder20yearsofagemayexchangeforeigncurrenciesafterthebankreviewstheidentitydocumentsofthepersonperformingtheforeignexchangetransactionandwheneachforeignexchangetransactionislessthanNT$500,000ortheequivalentinforeigncurrencies.IftheamountofthecurrentexchangetransactionismorethanNT$500,000,thepersonwiththeobligationtoreportthetransactionshouldprovideafilledoutapplicationformandrelevantsupportingdocuments.AfterthebankappliesforandreceivesapprovalfromtheCentralBank,thatindividualcanperformforeigncurrencytransactionsinNewTaiwanDollars. Q06.HowcansomeonewirefundsinforeigncurrencytomyHSBC(Taiwan)accountfromforeigncurrencyaccountsatotherbanksoverseas? Whenyouwirefundsinforeigncurrenciesintoyouraccount,youmustfilloutthefollowinginboundremittanceinformation:BeneficiaryBank:HSBCBank(Taiwan)LimitedSwiftCode:HSBCTWTPBankAddress:13Fand14F.,No.333,Sec.1,KeelungRd.,XinyiDistrict,TaipeiCity110BeneficiaryName:PleasefilloutyourEnglishnameyouregisteredatHSBCBeneficiaryA/CNo.:Pleasefillinyour12-digitforeigncurrencyaccountnumber Q07.ArethereadditionalfeesforforeigncurrencytransactionserviceatHSBC(Taiwan)? Noadditionaltransactionfeeisappliedonforeignexchangespottransactionserviceswithinindividual’sforeigncurrencyaccountsatHSBC(Taiwan).However,ifyouwouldliketodepositorwithdrawcashinforeigncurrencies,thefeeschargedcanbefoundonthe“BankingServiceTariffandProductFeeInformation”onthebank’swebsite. Q08.Aremanagementfeesappliedondepositsinforeigncurrencywhensuchdepositsarebelowtheminimumbalance? HSBC(Taiwan)doesnotapplyminimumbalancetoindividualforeigncurrencyaccount.HSBC(Taiwan)setsmonthlyminimumaveragebalanceandaccountmanagementfeesbasedondifferentwealthmanagementaccounts.Thebasisforcalculatingthisminimumbalanceincludesaclientdepositinforeigncurrencies.SeeHSBC(Taiwan)generalagreementforrelevantregulations. Q09.Doestheforeignexchangeserviceusespotexchangerate? TheexchangerateusedbyHSBC(Taiwan)exchangerateserviceusespotexchangerate.Exchangeratebasedonthereal-timesituationintheforeignexchangemarketeachday. Q10.WherecanIfindtheforeignexchangeratesatHSBC(Taiwan)? OurclientscanfindtheexchangeratesforNewTaiwanDollarsandforeigncurrenciesonexchangerateboardsatallbranchesofHSBC(Taiwan),theCustomerContactCentre,HSBC(Taiwan)webpage,orinternetbanking.TheHSBC(Taiwan)websiteis:http://www.hsbc.com.tw Q11.WhataretherisksthatIhavetobeawareofondepositsdenominatedinforeigncurrencies? Foreignexchangetransactionsandforeigncurrencydepositsmayincurgainsorlosses.Theclientbyhimselforherselfassumesallriskssuchasthoserelatedtorestrictionsontheexchangeofforeigncurrenciesandlosses(includingbutnotlimitedtoprice,exchangerate,politicsand country/territoryrisks),andexchangelossesthatmayarisewhentheclientexchangestheforeigncurrenciesheorsheinvestsinintoNewTaiwanDollarsorotherforeigncurrencies.Themaximumpossiblelossisthelossofallprincipalandinterest.HSBC(Taiwan)doesnotsharelossesorguaranteeanyrevenue.Furthermore,foreignexchangetransactionsandrelatedproductsareregulatedbyrelevantlaws,andtheCentralDepositInsuranceCorporationalsosetsceilingsondepositinsurance.However,investorsstillhavetoassumethecreditrisksofHSBC(Taiwan).Theexchangeratelevelatanytimedoesnotguaranteeafavorablereturnoninvestment.Therefore,werecommendclientsassesstheirownneedsforforeigncurrenciesbeforeengagingintransactionsinforeignexchangeanddepositfundsinforeigncurrencies,andevaluateestimatedlossesonthecombinedeffectofactualinterestincomeandthereversemovementofforeigncurrenciesatthetimeofthetransaction. Q12.Whatarethechannelstomakecomplaintsregardingdisputesoverforeignexchangetransactions? IfaclienthasanyopinionorisunhappywiththeservicesprovidedbyHSBC(Taiwan),thatclientcancontacthisorherrelationshipmanagerorcomment/complainthroughthefollowingchannels:(1)Customercontactcentre(02-6616-6000);(2)allbranchesinTaiwan;or(3)complaintphoneline(0800-050-018).Fordetailedinformation,pleasesee“Legallyrequireddisclosures–procedureformanagingcomments/complaintsbyclientsatHSBC(Taiwan).”https://www.hsbc.com.tw/help/announcements/ Q13.Willtherebecorrespondentbankfeechargedforforeigncurrencyoutwardremittance? CorrespondentbankfeechargeforForeignCurrencyoutwardRemittance: TherearetwowaystoremitUSDtootherdomesticbankaccountsfromHSBC: 【DomesticUSDpaymenttobeclearedthroughHBUS】ThetransactioncanbemadeinanyoftheHSBCbranchesorbyinternetbanking.Itwilltakeatleast2to3workingdaysforsettlement,andtherewillbeprocessingfeechargedbyforeigncorrespondentbank.Theprocessingfeewouldvaryandit’stypicallyaroundUSD$15toUSD$50,subjecttotherequirementbycorrespondentbanks.Pleaseberemindedthattheremaybemorethan1correspondentbankineachtransaction. 【DomesticUSDpaymenttobeclearedthroughFISC】(ThebeneficiarybankshouldbetheparticipantsofFISCsettlementPlatform,andhasRMA(RelationshipManagementApplication)withHSBCbank) ThetransactioncanbemadeinanyoftheHSBCbranchesorbyphonebanking(notappliedtointernetbanking).Theremittancecanbesettledonthesamedayorthenextworkingdayifit’sbeenmadebefore14:30ontheday,andthere’snoprocessingfeechargedbycorrespondentbank. PleaseberemindedthattheBankhastoreviewthetransactioncontents.Ifanyinformationortransactiondetailsneedtobesupplemented,orifanyspecialconditionoccurredfromsystemchecking,theremittancewouldnotbesettledintime,andtheBankwillonlyexecutethetransactionagain2workingdaysafteranynecessaryremediation. Deposits Q01.WhattypesofdepositsareofferedbyHSBCTaiwan? HSBC(Taiwan)currentlyoffersdemanddeposits,foreigncurrencydemanddeposits,NewTaiwanDollartimedepositsandforeigncurrencytimedeposits.Weofferawiderangeofdepositdurationsandcurrenciessothatclientscanmanagetheirforeigncurrencydepositswitheaseandflexibility. Q02.DoesHSBCofferpapercertificatesfortimedeposits? No.HSBC(Taiwan)currentlyonlyofferstimedepositswithoutpapercertificates. Q03.HowcanIgetatimedeposit?Arethereadditionalfeesforthisservice? Clientsofourbankcangettimedepositswithourbank’spersonalinternetbankingandCustomerContactCentreorinpersonalongwithidentificationdocumentsatbranchesthroughoutTaiwan.(ClientsofHSBCDirectarenoteligibleforin-personservicesatbranches.)Therearenoadditionalfeesfortimedepositservice. Q04.Arethereadditionalfeesforearlywithdrawaloftimedeposits? HSBC(Taiwan)doesnotapplyadditionalfeesonearlywithdrawaloftimedepositsonearlywithdrawaloftimedeposits.However,HSBC(Taiwan)willcalculateinterestaccordingtolawsandourbank’sregulations.TimedepositinNewTaiwanDollarsearns80%ofthepubliclydisclosedinterestboardrateoftheequivalentfulldurationfromthedayinterestbeginstoaccruetothewithdrawalday.Timedepositsinforeigncurrenciesearn80%oftheinterestoftheoriginalinterestrateagreeduponsincethedayinterestbeginstoaccrue.However,whentheearlywithdrawalhappenswhendepositislessthanamonth,nointerestispaid. Q05.Arethereriskswithdepositsinforeigncurrencies? Wewouldliketoremindclientsthatexchangeratesfordepositsdenominatedinforeigncurrenciesmayfluctuateduetomarket,political,andeconomicfactors.Lossesmayalsoarisewhenconvertingdepositsbacktotheoriginalcurrency.Theexchangeratelevelatanytimedoesnotguaranteeafavorablereturnoninvestments.Therefore,werecommendthatclientsassesstheirownneedforforeigncurrenciesbeforeundertakingtransactionsinforeignexchangeanddepositfundsinforeigncurrenciesandevaluatetheestimatedlossesonthecombinedeffectofactualinterestincomeandthereversemovementofforeigncurrenciesatthetimeofthetransaction. Q06.Whatarethechannelsforcomplaintsontimedepositsrelatedissues? Ifaclienthasanyopinionordissatisfactionswithourbank’sservice,thatclientcancontacthisorherownwealthmanagementspecialistorcomment/appealthroughthefollowingchannels:(1)CustomerContactCentre(02-6616-6000);(2)allbranchesthroughoutTaiwan;or(3)Complaintphoneline(0800-050-018).Ifthedisputecannotberesolvedbysaidappealsprocedure,theclientmayrequestarbitrationormediationfromFinancialOmbudsmanInstitution,orappealtotheFinancialSupervisoryCommission. Backtotop Connectwithus Listeningtowhatyouhavetosayaboutservicesmatterstous.It'seasytoshareyourideas,stayinformedandjointheconversation. HSBCFacebookThislinkwillopeninanewwindow