The main reason I signed up for a checking account with HSBC is because they are the world’s local bank (so I thought). When I was setting up my account with my HSBC representative, I asked him if I could withdraw money while in Taiwan for free (no fees). He reassured me that this was the case. I went ahead and deposited my money and went on my merry way. Fastforward two years. In four days, I’ll be on a plane for my long-awaited vacation in Taiwan. Today, I decided to be proactive and call HSBC to let them know that I’ll be using my card overseas. I checked with my customer relationship specialist about if there are any fees and to my surprise, he told me that there is a 3% conversion fee. I got really annoyed because why would they charge me a fee if I’m using an HSBC bank in Taiwan? Isn’t it the same bank? He told me that HSBC USA is different than HSBC Taiwan. He said something (I was having trouble understanding his accent). Then after a few minutes of being on hold, he told me he’d be transferring me to someone in the International Banking department.

I told this new person that I just don’t understand why HSBC would mislead customers that they can use their HSBC debit card at any HSBC ATM world wide. How are they the “world’s local bank” if they are really separate entities? He said that the banks are separate, but fall under one bank. He then said that if I withdraw money in Taiwan, it costs THEM money to convert the money to NT. Anyway, I told him that he needs to tell his colleagues not to lie to clients. He said he’d escalate this to his managers to let them know. I know that he probably won’t be doing a damn thing, but whatever. I understand that banks just want to make money. If I decide to take money out of an HSBC ATM in Taiwan, I won’t be charge an ATM fee. I guess that’s good right?

I can’t wait for Taiwan.