HSBC ATM Conversion Bait

James Liu Active member

Member since 24 April 2023

James LiuActive member22 January 2024 23:04:45

Just a warning here about HSBC. I normally withdraw 10 million each time and with the demise of Citibank I regularly withdraw from HSBC ATMs. HSBC gives two conversion rates amount to choose from. They use their VND to USD own rate and it shows the exact amount that's taken out of your US bank account. DO NOT CHOOSE THIS OPTION. Choose the market rate conversion rate, which doesn't show the exact amount taken out but comes with a 200,000VND fee (which some US banks will refund back to you). I was able to compare the differences and there was almost a $20 difference in cost. It's the same scam in Europe. Chose a conversion rate "guaranteed" by the bank or choose one without. You always loose more with the "guaranteed" rate.

secedit Active member

Member since 04 February 2020

seceditActive member22 January 2024 23:26:07

@James Liu

You must be an American or Millennial. Hahaha

It is common-sense never to accept any offered rate in any country, and has always been the case. The market rate always prevails!

James Liu Active member

Member since 24 April 2023

James LiuActive member22 January 2024 23:58:55

@secedit I'm an American so I am used to being screwed by corporations. America is the land of cheap luxuries and expensive necessities. In Vietnam, I take comfort of being screwed on a daily basis with regard to race and nationality.