HSBC Taiwan launches promotional offers for 12 foreign currencies, TWD
By Kathryn Chiu, The China Post
May 22, 2014, 12:03 am TWN
TAIPEI, Taiwan -- HSBC Taiwan recently heralded a second wave of promotional offers for eligible clients who enjoy trading discounts between 12 foreign currencies and New Taiwan dollars as well as prime rates for four foreign currency time deposits.
HSBC Taiwan offers a trading discount on every New Taiwan dollar they use to buy or sell 12 foreign currencies as of July 15.
The follow-up favorable plan, which offers foreign exchange trading discounts for HSBC Premier and HSBC Advance customers, comes as a part of HSBC Taiwan's 30th anniversary celebration. HSBC Taiwan also announced a 30-day extension of its previous prime rates plans for credit cards, credit loans and mortgages.
HSBC Taiwan said that the 12 target foreign currencies incorporated in the forex trading discount offers are the U.S dollar, Australian dollar, New Zealand dollar, Canadian dollar, euro, British pound, Swiss franc, Singaporean dollar, Hong Kong dollar, Chinese yuan, Swedish krona as well as Japanese yen.
Senior Vice President of Wealth Management at HSBC Taiwan Steve Chuang (莊懷德) advised that interested forex investors build a high-yield forex position in the currency portfolio, indicating that customers can allocate 30 percent of their portfolio to New Taiwan dollars, 30 percent to U.S. dollars, 20 percent to New Zealand or Australian dollars and 20 to Chinese yuan.
Favorable time deposit plans based on U.S. dollars, Australian dollars, New Zealand dollars and Chinese yuan are also available for HSBC Taiwan's Premier and Advance guests as of late June, and HSBC Direct customers can also apply for the deposit plans by transferring their savings into the four foreign currencies and put them into Premier or Advance accounts, according to HSBC Taiwan.
Foreign currencies listed above saved in HSBC Taiwan accounts from March 1 are qualified for the time deposit plans. The annual prime rate for U.S. dollar deposits worth more than NT$500,000 will be 1.5 percent, while those for Australian dollars and New Zealand dollars are 4 percent and 4.5 percent respectively. The three-month prime rate for Chinese yuan deposits worth the minimum amount of 20,000 renminbi is 3.3 percent.