HSBC Powervantage Costs

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  1. #21

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    i tot their pitch is 'the world's local bank'... how premium is that ? 8-P


  2. #22

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    >> i think there is also a social responsibility of the system

    The whole concept of Noblese oblige .. is sort of lost in some circles in Hong Kong (not really when you think of the corporate and individual donations to charity....)


  3. #23

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    Their brand message ..

    http://citizenbay.typepad.com/citize...hrows_dow.html

    Interesting reading ..

    Does their ATM Machine know what their head of brand strategy is talking about? (Think about this...)


  4. #24

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    If you wish to have a government that uses your taxes to subsidise banking for poor people then by all means vote for it. Social responsibility is the remit of governments and taxes, not something for commercial organisations to provide by cross-subsidy.


  5. #25

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    but it can always be attached as a requirement for obtaining a license to make money that infrastructure has to be provided for the less priviledged.

    i think a 'thinking' government would probably seggregate banking licenses into various license. someone that wants to have access to retail deposit and have retail branches has the obligation to provide infrastructure for the mass.

    anyway, the fact is that power vantage account is not the basic account for hsbc. u can have the basic account that needs not minimum sum.

    Last edited by freeier; 13-04-2007 at 10:55 AM.

  6. #26

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    Government duties and social responsibility of corporate entities are two different things.

    One is essential .. the other is a clever little marketing tool.

    Up to you to figure which is which.

    Needless to say .. isnt this a conversation for a long lunch?


  7. #27

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    it depends on how you classify it.

    if one classify banking as an infrastructure, then in addition to making money the government can have a role in making the service available to all.
    just like transportation. shld it be run as a private service or should one put it as a necessary infrastructure and subsidize it from the govy coffer!

    its arguable.
    if you ask me, for a well run government, i wldn't mind having transportation and banking/utilities all under the govn coffer.


    lunch is good. but not today though. sometimes next week before my transit life in hk gets hectic ?

    Last edited by freeier; 13-04-2007 at 10:58 AM.

  8. #28

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    The new charges seem a bit ridiculous to me.

    Basically, according to the letter which I think Sleuth is referring to (which I'm now having a closer look at), HK$120 will be charged each month from 1 January 2008 if the average TRB over the last three months falls short of HK$200,000.

    I don't understand why they need to do this. I was a HSBC banking customer back home in Australia, and was extremely happy with their services. I switched from a big Australian bank which had started charging me a monthly fee to them. The Australian HSBC account I have charged NO monthly fee, NO minumum balance, free ATM withdrawals, an online sharebroking and managed funds investment account AND 5.00% interest on savings (where more than HK$30,000)! http://www.hsbc.com.au/personal/accounts/osa.html

    I understand that Hong Kong is not Australia but there seems to be a big discrepency here.


  9. #29

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    the cost to employ a person, rent a place in hk, etc.etc. is obviously not too similar to aussie.

    i'd think that's one reason why people from aussie wld want to come hk to work ... for the higher pay while paying the higher rents! 8-P


    that aside, on a serious note, there are different banks with different demand in cash, in deposits, in loans.
    a bank with a large capital based and very well deposited would have low demand of deposit and likely they will balance it at a level to optimise their asset liability book.
    a bank with unstable book wld want as much deposit as possible to make their book looks better.

    also one thing that nobody seems to want to recognize, is that a bank in hk and a bank elsewhere in the world, even if they are of the same name, are registered separately. relationship can count and probably you can get a referral if you are very good with a hsbc/citibank in the states/uk, but don't expect them to behave the same.
    there is a legal seggregation between one antity with another.. this is normally required by the local financial authority to protect the local depositors/clients!

    Last edited by freeier; 13-04-2007 at 11:28 AM.

  10. #30

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    OK some pay packets here are pretty big and the rent is somewhat astronomical :/ But by the same token, my understanding is that a lot of the salaries for middle to lower level roles (taking up the majority of a company's positions) in HK are a lot lower than those in Australia. I have no training in finance or economics but I still don't know how there can be such a big discrepancy with the prevalence of online banking etc.

    I realise that they have different businesses in different parts of the world. If HSBC Australia was a listed entity I would have bought shares in them a few years ago, but of course they are wholly owned by the head HSBC entity - perhaps I should have just invested in the latter.

    Last edited by muse07; 13-04-2007 at 11:35 AM.

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