Need options: Offshore bank with CAD currency

I have been living overseas for quite awhile. I’m a Canadian citizen but a resident of China as a teacher. I’m looking for the best offshore accounts that offer CND as part of the package. I’d also like to be able to have a credit card of some sort. I’ve been looking on and off for some time. The main issues preventing me so far have been, deposit size, I’m not a high level admin that make millions. It seems most options {Lloyd’s, Barclay’s, HSBC] all have issues. First two don’t offer CND. HSBC has terrible service [and currently with China influencing HK, I’m not sure of the security].
Any guidance would be particularly helpful.

What is CND?
HSBC in what country?

CND = Canadian dollars

Ok, you might want to use CAD instead, as that’s the official term.
Any reason you can’t use a bank in Canada?
Getting a credit card will be very difficult.
HSBC HK should be ok, if they will accept you, else banks in Singapore is an option.

You should mention how much you will deposit, as that will determine your options.
For smaller amounts keeping CAD in transferwise could work.

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I have a Canadian bank account but cannot have a credit card if I’m not a resident. I would have about low 6 digits to deposit. I tried to open an HSBC in HK a few years ago but their residency laws changed and it wasn’t possible. I’m looking for some type of offshore account that I can get a credit card with.
I keep hearing bad word of mouth about the service of HSBC. Their premier service seems to be outside my affluence.

So your main objective is to get a credit card. Your best bet would be in China, as getting a credit card from a country where you don’t live is going to be very very difficult.
It is possible some places like the US, if you start build relationship with having a checking account first, then apply for a secured credit card after a few years, and finally getting an unsecured card. It might be possible sooner with Citi international account in USA (requires 50K last I checked).

Getting a credit card in HK as non HK resident is also almost impossible.

Stick with you Canadian CAD account and try to get a debit card somewhere that doesn’t add foreign transactions fees.

Take a look at Republic Bank in St. Kitts

How sketchy is it?

I’m sorry I don’t follow, you feel the bank is sketchy or you are looking for a sketchy bank?

I guess I’m not communicating properly.

I mean how legitimate is this bank?
How is it’s reputation?
How much capitalization does it have in case of global economic difficulties?
Are savings insured? By who?

These are the types of questions I have.

And I’m not expecting you to know all the answers or reply.
I can call them but fact is they could tell me anything. I can t ensure the I formation they provide is particularly honest.


They don’t appear to offer credit cards, which was OP 's main objective. And every transaction is $1.5.
I don’t see how this would be preferable to a Canadian bank or even a Chinese CAD account.

I don’t remember him asking for a Canadian bank or a Chinese CAD account. All I did was focus on what he asked for, bank charges and requirements are different all over the world. It’s cool when you find an account with little or no charges and we all have our different needs and acceptance levels for banking.

Your statement assumes that everyone thinks or should think like you. Note that I asked he check it out meaning that he should see if it meets his needs and comfort level (not mine or any other person for that matter)

Cool, I didn’t see the credit cards at first glance, which was what he asked for.
So yes there’s the answer for offshore bank in CAD that can offer a credit card (seems not in CAD though).

Really? Please what currency did you see?

Hi Akan,
Appreciate your candid nature - and especially the tip on Republic. Had not heard of them.

Lots of experienced folk visiting these boards from all over. I’m in much the same situation as the gentleman in China, only we’re in Japan. But I’m determined to discover a solution. It might be to register companies in various spots, or look into Albania or Georgia.

No great rush. But have a funny feeling a few currencies are going to be torpedoed before
this chaotic upheaval is over. Am looking at stock market investment platforms that offer cards.
Swissquote is one.

So much can be done. A person can go all creative like Howard Marks.


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Hi Duncan,

I understand what you are going through as I too am looking at off shore locations and other alternatives to cash. I had high hopes for Armenia and Georgia but will most likely wait until I get to Tblisi.

The situation will be more stressful for those who are employed compared to those who are running their companies or self employed.

I am grateful that at least we have options like Transferwise and N26 we can use as we look for what suits us best.

All the best


It didn’t mention any currencies only that all charges are in XCD. I assume the card is in USD or XCD.

Hi James,
A contact of ours who had been inSichuan 10+ years just left this spring as stuff in China changed.
Not a teacher. Savvy.
There are options in nearby SEAsia, but you’ll have to dig and dig and check diligently.
Have also had visitors from Laos. People are banking there, doing it. Again, check thoroughly.
There are also German and French credit unions and development banks doing things.
American Samoa has a bank for sale. That comes from a director of the local chamber of commerce, and he
sent me the documents. Keep an eye on that backdoor opportunity.

And some people are buying, holding gold, silver coins. Canadian Maple Leaf is best.

Off the cuff, I bet some business families in Shenzhen or Shanghai have found ways of reaching your goals.
They were bring boatloads of black market cash here, buying up ski resorts and buildings.

Hi Akan,

Thank you. Interested to hear how your research and adventures pan out in the months to come.

A year ago, I sweet-talked my way into the embassies of Armenia and Georgia in Tokyo, on a whim.
Learned that the Georgian prime minister was due in the next week for a secret visit. That meant development aid money in my head. And checking with the WorldBank top guy here, and what is he doing but having
blitzkrieg strategy to start construction throughout the Caucasus and further east and west. So, that area, and all its economies and banks are going on the upswing the next few years.

ProCredit Bank is in that area.

I heard from a gentleman member of this community who visited Kiev, and spoke with retired bankers, that ProCredit was the safest choice - for Ukraine.

I’m going to go back and read Howard Marks.

Take care,

Hi Duncan,

Will share how it goes with the group so more people can either gain useful information or a lesson from my experience.