If you are looking to use an HSBC ATM to withdraw pesos, and have a foreign bank account, note…read morethat HSBC charges hefty fees. The bank charges an ATM fee, as well as a foreign currency conversion fee. The ATM fee is clearly stated. The conversion fee is not. In fact, the ATM asks if you want to use HSBC's exchange rate. I was told never to select this option because of the poor conversion rate. Regardless, HSBC does charge a conversion fee of about 2%. That does not seem like a lot of money, but when the bank implies it doesn't charge a conversion fee it is annoying to find out it does.

It was pretty easy to open an account here. I contacted them prior and they emailed the application…read moreforms that I was able to return along with scanned copies of my passport, proof of residency, and a bill from a utility company with my residential address. A few days later I went to the bank, set up online access and password and received my ATM card