Questiona bout HSBC Preferred Customer

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  1. #11

    Join Date
    Jan 2007
    Location
    Toronto, Canada
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    127

    Thanks everyone

    Thanks for everyone's comments. I agree with you KnowItAll. Since we will be living in Hong Kong, we want our main account there. And it seems that right now (it could change though) the requirements to be a Premier customer is lower in HK than Canada. But we thought it would easier to open here first in Canada because before we move, we will move all our RSP's to HSBC and then when we sell the house, deposit the cheque there. We will need to keep this account open to have our gov't pension cheques deposited there. Plus the Relationship Manager here will do all the work for us in HK.

    We will then move money to HK as required. We will only want cheques, bank/credit cards for the HK account. I wonder which account they base the monthly fee on. The Canadian one or combined?

    But I think without the RSPs or the house money, we will not qualify. Unless we depoist in our current bank (RBC) and then transfer it to the HK HSBC. And then (??) open a HSBC in Canada and move all the money from RBC to HSBC. Too complicated. May be easier the other way. What's $150K versus $135K anyway for the convenience. My hubby believes there is RBC branches in Hong Kong. Anyone know if this is true?


  2. #12

    Join Date
    Jun 2005
    Location
    Hong Kong
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    23,205

    I've never seen RBC branches in HK - certainly there aren't significant numbers of them.

    The qualification for Premier (i.e. whether you pay a monthly fee and if so how much) is based on your "home" account. Once you have Premier status in your "home" country then there are no qualification requirements or monthly fees for Premier accounts in other countries.


  3. #13

    Join Date
    Jul 2007
    Location
    TST and Macau
    Posts
    1,487
    Quote Originally Posted by Inattendu:
    Not sure which bank you are refering to in Macau but HSBC, BNU and BOC all have premier account with similare benefits.

    As a matter of fact, even if there is still a large number of HSBC ATM machine, there is only 3 branches left and they are all Premier branch, with the largest one being located at the corner of the Landmark.
    I was all referring to HSBC being an international Premier customer. Being an international premier customer is no use for for Macau to open an account there and all the premier centres in Macau are for international premier customers with accounts overseas. They told me they do not do premier accounts in Macau. That is why if you Wire out of a Macau account there is a charge.
    Quote Originally Posted by PDLM:
    The qualification for Premier (i.e. whether you pay a monthly fee and if so how much) is based on your "home" account. Once you have Premier status in your "home" country then there are no qualification requirements or monthly fees for Premier accounts in other countries.
    "Home" does not necessarily mean your home country (of residency). You can chose any country's branch (Like I chose China because it has the lowes requirements to qualify) as your qualifying bank.

  4. #14

    Join Date
    Jun 2007
    Posts
    8
    Quote Originally Posted by PDLM:
    The qualification for Premier (i.e. whether you pay a monthly fee and if so how much) is based on your "home" account. Once you have Premier status in your "home" country then there are no qualification requirements or monthly fees for Premier accounts in other countries.
    Following up on this - could one, theoretically, designate an offshore account (say with HSBC Bank Int'l in Jersey), as the home account?

  5. #15

    Join Date
    Jun 2005
    Location
    Hong Kong
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    23,205

    Yes you could. But you'd have to meet whatever Jersey's requirements are for Premier status (I think that might be GBP100,000).


  6. #16

    Join Date
    Jun 2007
    Posts
    8
    Quote Originally Posted by PDLM:
    Yes you could. But you'd have to meet whatever Jersey's requirements are for Premier status (I think that might be GBP100,000).

    Thanks - I believe its GBP60,000.

    Cheers!

  7. #17

    Join Date
    Jun 2005
    Location
    Hong Kong
    Posts
    23,205

    Indeed it is. My memory's getting dodgy in my old age.

    For mainland UK it's only GBP50K.