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BankONE mauritius vs OCBC Singapore

#22
Davis123 said:
Every offshore service provider told me Singapore and Hong Kong bank it's now impossible to do remotely. It's some kind of law in those countries.
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If OCBC does not answer, try opening a DBS vickers cash account. Basically a brokerage account which you can still open by mail as a non res without residence permit or employment pass. DBS Vickers account comes with a personal DBS bank account to ease international settlements which is your vanilla bank account. The same should work with iOCBC which is an equivalent brokerage account product.

Maybe these lawyers were talking about adhere circumstances which apply to corporate accounts. There's no ban on opening financial accounts without a face2face meeting in HK nor SG.
 
#23
xzars said:
If OCBC does not answer, try opening a DBS vickers cash account. Basically a brokerage account which you can still open by mail as a non res without residence permit or employment pass. DBS Vickers account comes with a personal DBS bank account to ease international settlements which is your vanilla bank account. The same should work with iOCBC which is an equivalent brokerage account product.

Maybe these lawyers were talking about adhere circumstances which apply to corporate accounts. There's no ban on opening financial accounts without a face2face meeting in HK nor SG.
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But if you happen to be an American then most of banks shun you like I was shunned by OCBC HK years ago and I was there in person.
 
#24
xzars said:
If OCBC does not answer, try opening a DBS vickers cash account. Basically a brokerage account which you can still open by mail as a non res without residence permit or employment pass. DBS Vickers account comes with a personal DBS bank account to ease international settlements which is your vanilla bank account. The same should work with iOCBC which is an equivalent brokerage account product.

Maybe these lawyers were talking about adhere circumstances which apply to corporate accounts. There's no ban on opening financial accounts without a face2face meeting in HK nor SG.
Click to expand...
I believe I saw it from sept 2011 when they stopped remote ac opening.
 
#25
xzars said:
If OCBC does not answer, try opening a DBS vickers cash account. Basically a brokerage account which you can still open by mail as a non res without residence permit or employment pass. DBS Vickers account comes with a personal DBS bank account to ease international settlements which is your vanilla bank account. The same should work with iOCBC which is an equivalent brokerage account product.

Maybe these lawyers were talking about adhere circumstances which apply to corporate accounts. There's no ban on opening financial accounts without a face2face meeting in HK nor SG.
Click to expand...
Davis123 said:
But if you happen to be an American then most of banks shun you like I was shunned by OCBC HK years ago and I was there in person.
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At the time they didn't have these FATCA so they were scared of new laws.
 
#26
Americans are in a different compliance category due to FATCA. DBS did not accept any U.S persons at one point; don't know if it still applies.

Others can still apply but this requires a signature verification. This can be done for example in your local SG embassy, in a SG embassy in a country nearby.
 
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#28
BankOne have been very good to me and my clients, they have good correspondence relationships and very efficient in problem solving. You can't compare with OCBC, DBS and alike those guys are gigantic.

BankOne will charge you for everything except incoming transfers. Card transactions are done in Rupees so a conversion can be a slap in the face. 2K a day out of the cash point 2.5% plus conversion on cash advance.

Otherwise a very good bank and they dont ask you stupid questions about why did John send you 100.
They understand the UBO structure very well and will accept everyone except Americans unless they have a business on the Islands.

There is a running joke that if an American wants an account he has to buy a fishing boat, bar or a hotel. One guy did buy a fishing boat to "rent out", got his account and gave it to the fisherman.
 
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#29
CaptK said:
BankOne have been very good to me and my clients, they have good correspondence relationships and very efficient in problem solving. You can't compare with OCBC, DBS and alike those guys are gigantic.

BankOne will charge you for everything except incoming transfers. Card transactions are done in Rupees so a conversion can be a slap in the face. 2K a day out of the cash point 2.5% plus conversion on cash advance.

Otherwise a very good bank and they dont ask you stupid questions about why did John send you 100.
They understand the UBO structure very well and will accept everyone except Americans unless they have a business on the Islands.

There is a running joke that if an American wants an account he has to buy a fishing boat, bar or a hotel. One guy did buy a fishing boat to "rent out", got his account and gave it to the fisherman.
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Thanks a lot! Thats useful..Any idea how much would be the charge for electronic outgoing transfer? If there is a limit? Plus how much is the monthly fee if you dont maintain minimum balance?
 
#31
waqarkhan86 said:
I also checked that EUROBANK has minimum balance requirement of only USD 100 compared to BANKONE of USD 10,000. Is there any catch on this?
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Opening balance should be about 10K but minimum balance I think is $1000 or equivalent.

Its about $12 charge per month for going under minimum balance.

Everything is Swift so your paying about $20
 
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