Entry Submitted by Conscious One at 1:25 PM EDT on April 4, 2017
Over the last four years, I have been reading. listening and watching many posts, calls and videos that indicate HSBC will be orchestrating the Zim redemption. I am assuming they will do the exchange and set up an account(s) at HSBC for funds to be deposited into, thus having those depositors under their "banking control" ... hmmm, do they, or will they, have an on/off switch?
Personally I don't like the idea of "all my eggs in one basket". I understand I can transfer a certain amount from bank to bank ... but at this point only less than 500K ... anything more would be problematic. That makes it difficult to move the large amounts we may be working with at our exchange appointment for each currency.
Does anyone know what the process is, if I prefer to have everything setup in another bank of choice with separate accounts for each currency from the actual HSBC exchange appointment ... and if that is even possible ... and still retain the higher rates available
For instance, Zim at HSBC, Dinar at Wells Fargo, Dong at Chase, etc
What seems to be indicated is that I need to set up a separate appointment to exchange any currency other than the Zim at the bank I want to have the accounts set up in ... for instance, the bank I normally use and already have accts at.
I don't want to be transferring funds from HSBC on regular basis ... but rather simply transferring funds within my bank from account to account. Such as savings to checking, as an example.
trying on this topic, to stay the ...
Conscious One : )