Anyone have any advice on finding a reliable online bank for foreign bank accounts. I want something I can hold money in other currencies and get a decent interest rate. I've heard Hong Kong has a bunch of good options. HSBC is one. Any others? Thanks in advance.

You can go to a HSBC bank and open an account in HK. (at least you could about 2 years ago when I did it.) You can get the forms online, and open up the account in person at a HSBC in the US. You could not do it online. It had to be done at a brick and mortar HSBC. Once you get it set up though, it is all online. You can also choose what currency that you wanted your $$ invested into. I chose Singapore.

(01-14-2012 12:31 PM)Jugnaut Wrote:  Anyone have any advice on finding a reliable online bank for foreign bank accounts. I want something I can hold money in other currencies and get a decent interest rate. I've heard Hong Kong has a bunch of good options. HSBC is one. Any others? Thanks in advance.

If you would like a decent return why don't you look at something like Lending club?

HSBC was recently sued by the IRS and forced to turn over client info, and I've also heard that opening an account in HK through them is taking several months now to complete, so I'm not sure how comfortable I'd be with them anymore. Still, it's better than nothing.

I believe UOB (Singapore) allows you to open accounts remotely. Singapore or Hong Kong are definitely the best places to bank nowadays.

Scotiabank (Canada) and Loyal Bank (St. Vincent) are some other options. Scotiabank has locations in numerous countries and I believe operates similarly to HSBC. I can't vouch for Loyal or tell you much about them, I've just been told they are an option.

Here is a Mongolian bank where you can open a savings account. You can get around a 13.5% rate on a 1 year deposit (tugrik only). http://www.egolomt.mn/pageHome.aspx

Jug, I can also PM you the contact info for someone who could help you open an Australian account if you're interested.