HSBC USD Current Account

[Brooklands]

Does anyone have a HSBC USD current account. If so, can it be used to pay monthly dues?
I opened a CITIBANK USD account but I have discovered there is no Direct Debit facility.

 

[Elise79]

I think to be able to pay your annual dues by DD it will need to be a US based account as opposed to just a USD account.

When are next over there trying opening a SunTrust account, we have one and it was so easy to set up.

 

[rosiejo]

The DD can only be from a US bank account. We have a dollar account with Lloyds TSB and it comes with a Visa debit card that we are going to use to pay our dues next year.

 

[FloFlo71]

Even with a Sun Trust US account doesn't it cost to send money to it?

Can't fees just be paid with a UK debit or credit card? Or is there a reason they shouldn't?

Sorry I'm new to this.

 

[Elise79]

We have a SunTrust account so we can pay our dues on monthly basis by DD rather than in a lump sum on January.

For us it is far easier as we have to pay for Xmas in January and one of our cars road tax is due then as well (and is the one that has the expensive road tax too )

It does cost in that we get about 2.5 cents less than the bank rate on our exchanges but also we can pick and choose when we transfer money so more when is good to cover the bad times. I use XE.com as my fx transfer agent. There is no fee per transfer and the rates are fairly good.

I opened a halifax account as they only charge £9.50 for doing a online transfer to international accounts but their rates were really bad - even less than using paypal and that didn't take account to the fee which would be extra.

 

[ford family]

We have had HSBC USD Premier accounts, both checking and savings, for several years. The checking (current) account can be used to make regular payments either as direct debits or as a standing order. We have a holiday home in Florida so use the account to pay all the household bills.
The nearest HSBC branch to WDW is Coral Gables near Miami but as everything is dealt with online it doesn't really matter.

ford family

 

[pepples22]

We have a SunTrust account so we can pay our dues on monthly basis by DD rather than in a lump sum on January.

For us it is far easier as we have to pay for Xmas in January and one of our cars road tax is due then as well (and is the one that has the expensive road tax too )

It does cost in that we get about 2.5 cents less than the bank rate on our exchanges but also we can pick and choose when we transfer money so more when is good to cover the bad times. I use XE.com as my fx transfer agent. There is no fee per transfer and the rates are fairly good.

I opened a halifax account as they only charge £9.50 for doing a online transfer to international accounts but their rates were really bad - even less than using paypal and that didn't take account to the fee which would be extra.

Sorry to hijack the thread, but Elise79 can you tell me more. I have SunTrust account and didn't know you can pay this way. How did you go about setting this up??

Also how do you transfer into SunTrust? This is key for me as I have not found a good way yet. At the moment I am investigating FairFX.

Thanks so much!

 

[Elise79]

If you contact member accounting they can send you a form like our direct debit mandates that you will need to complete and you will need to send a voided cheque too.

I use xe.com to transfer money into our SunTrust account. Rate is usually areound 2.5 cents lower than the bank rate but I know exactly the rate when I book it. Its very easy to use.

 

[Hilary]

I wanted a pay-monthly system for our annual dues to make it easier on the family finances than a one-off payment in January.

Rather than jump through the hoops that seemed necessary to set up a dollar account somewhere, I opened a new UK savings account and set up a monthly DD into that.

When the annual dues bill arrives I pay it on our credit card (earning airmiles) and then pay off the credit card from our 'DVC dues' savings account. It works for me!