Job Discussion Forums

[North Pole]

If one does not want to open a HK bank account,are there other options that you can ask the school to pay you? Thank you.

[Serious_Fun]

[North Pole]

You think the worse of people... I perfer my money in my hand,and,then do with it what I may wish...with the world economy going down the tube,sorry,but I am starting to think the worse of the banking system...Maybe,it's premature,but I'm starting to think that way...

[Marcoregano]

[Serious_Fun]

North Pole, I do not think poorly of you, or anyone else, for asking a question about payment options at a school. It is none of my business what you do with your earnings!

I was trying to make a point: the school bookkeeper and principal, and maybe the supervisor(s), etc. will wonder what you are doing. It will cast you in a bad light.

marcoregano, you probably have more money than me! I bank with Hang Seng and use their integrated account. I can move my money around different currencies depending on the movement of exchange rates. (I made almost 15% tax free by moving my HK dollars to Euro last year, and then back to HK dollars a few months ago- and done online with a few mouseclicks ) The interest rates also vary according to the currency.

[kowlooner]

Sorry North Pole, but I'd have to agree with Fun and Marco. Not having a local bank account would look a bit as if you planned on exiting quickly, though having a local bank account wouldn't necessarily be a hindrance to that in any case. Local banks do have deposit protection, and the government has more than enough in reserves to back that up. Besides that, payment of various bills is made much more convenient through the banking system here. I'm not sure if it's the most advanced in the world, but I'd be interested to hear of any banking system elsewhere that can beat this one in terms of efficiency, speed, and convenience (not to mention, accuracy)!

Unless you're a total Luddite, it does sound a bit odd. Besides, if you're really that worried about it, why not just open a bank account and then simply withdraw all your money each month (except for the minimum account balance, generally around HK$5,000) to keep it on physical hand?

Well done, S_Fun! You ought to be in the currency trade! Certainly doing better than certain publicly listed companies with their currency bets! Even without playing around too much, don't time deposits generally return somewhere between 3 and 5%?

[Marcoregano]

[dandan]

I ask my boss to bury my salary in the woods and then draw me a map.

[North Pole]

Just asking about other options...nothing more, nothing less... Some of you are reading everything in the world into a simple requset...i.e. the under the bed system of stashing money comment etc. etc. ...Well, some people today in South America sleep quite comfortably that way...These same people who lost their life savings shiver at the word "CORRALITO"...
Of course, HK is such a power house of money you people lead me to believe,and, that's great ...but,wake up,look at the window,who would have taught 1 month ago,the WORLD economy would be facing what it is facing now... and even the mighty US still falling...

[Serious_Fun]

[Jason Goren]

North Pole, most if not all reputable employers in HK can/will only pay via bank transfer, which is instantaneous for HSBC account holders (everything here seems to be geared around HSBC). You may perhaps be able to request payment via cheque, and you may get one from some, but you'd still require a bank account into which to pay it, unless you want to pay 5%-10% at a 'cheque-for-cash' shop.

Kowlooner, the minimum account balance at BoC (HK) is only $1.

[kowlooner]

Thanks for the correction, JG. I believe that with BOC, and others, if your average balance falls to below $5,000 then you're charged a monthly fee of $50.

[Serious_Fun]

[malik naseem abbas]

Hi Friends,
I am new comer in this discussion forum. I am Ph.D. scholar of Linguistics and looking forward for a teaching job abroad. Please help me in this regard.
thanks