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HSBC Premier - Real benefits?

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  1. #11

    Join Date
    Oct 2004
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    Midlevels / USA (MD) / London
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    Free global transfers is big if you have accounts around the world. HSBC's relationship manager in the US for our account there has been stellar, helping us move some money around now and then beyond that which is easily done online. They also helped us open an account in the UK despite being a non-resident, which is difficult to do on your own.

    Did someone mention the chewy candies they have in the Premier waiting lounge? Not sure the regular account holders get those.

    dossier and huja like this.

  2. #12

    Join Date
    Jan 2010
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    6,452
    Quote Originally Posted by penguinsix:
    .

    Did someone mention the chewy candies they have in the Premier waiting lounge? Not sure the regular account holders get those.
    I always make a point of eating as many as possible, to offset all the fees HSBC charges me.

  3. #13

    Join Date
    Dec 2010
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    Wrong side of the door to hell
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    If you are dealing with lots of foreign transfers it is worth it. But cut through all the stupid by making sure they never call you - they will still do it, but not as often. We use SC for day to day banking here, only use HSBC because our overseas accounts are with them. I try to avoid having anything to do with them on an actual face to face level. There is only so much stupid you can handle at once.

    jgl and hktraveller like this.

  4. #14

    Join Date
    Feb 2006
    Posts
    829

    The other benefit was I got a US premier credit card which has no additional charges for overseas spending other than the exchange rate. That makes a big difference if I need to use credit cards outside HK. (Helps to have a fixed HKD/USD exchange rate). Weirdly, I can't get them to give me a UK based credit card.

    I have the opposite problem with them from other posters - they don't call me even at times when it would be helpful. (e.g. closing down an account without prior warning) Relationship managers totally useless, barring one outstanding manager who did add value in the 3 years she was on my account. She was a good RM, as RMs go, and as RMs go she left.


  5. #15

    Join Date
    Jul 2007
    Location
    TST and Macau
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    1,487
    Quote Originally Posted by z754103:
    ...Weirdly, I can't get them to give me a UK based credit card.
    If you open an account at HSBC London you will automatically get a Sterling based debit card.

  6. #16

    Join Date
    Dec 2013
    Location
    Hong Kong
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    12,323
    Quote Originally Posted by pin:
    I presume they are there to try and sell you one of their products? I do have the same issue with SCB, but luckily its not so frequent.
    It's 100% about selling crap to you. I tried to use my relationship manager to do some useful stuff a few years back and they basically said they couldn't help. Waste of time.

    As to your original question - if you move money around the globe a lot, global transfers are awesome. Pretty much the only reason I stay. The rest is crap. But you do get free coffee and sweets and wifi and a SEAT while waiting, which does make hanging around branches for the inevitable branch queries less painful.

  7. #17

    Join Date
    Dec 2013
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    Hong Kong
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    Quote Originally Posted by mrgoodkat:
    I always make a point of eating as many as possible, to offset all the fees HSBC charges me.
    They don't charge me fees but I still eat as many as possible. Good sweets!

  8. #18

    Join Date
    Jan 2009
    Location
    Near Earth orbit
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    1,221
    Quote Originally Posted by lingc:
    Just wait until you get downgraded. They will screw up the credit card (mc for premier and visa for advanced) as that too will be cancelled so your auto pay is screwed and they give you a retarded limit of.... $20k even if you had a $200k limit on the mc. And you will see just how great HSBC is. I would turn them down unless you can guarantee being a premier customer beyond the promo period.
    You can upgrade your account while getting them to leave you credit card alone - just ask when they do the upgrade.

  9. #19

    Join Date
    Aug 2010
    Location
    North Point, HK
    Posts
    1,093

    I didn't even bother. The relationship manager couldn't even manage herself out of a paper bag. She messed it up so badly that I had no credit card for over 2 months which is hard when you have to travel for work and not many places take Amex. And the other reason why it got fixed was when I complained to a one of other snr managers working on the floor. She got it fixed in 5 minutes and I still never heard back from the original girl. I do bare basic banking and ask for nothing else that requires anything beyond robotic thinking. Sadly that's how little faith I have of the world's local bank. I won't even get into my Atm card debacle.


  10. #20

    Join Date
    Apr 2009
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    Hong Kong
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    6,076
    Quote Originally Posted by lingc:
    I had no credit card for over 2 months which is hard when you have to travel for work and not many places take Amex.
    Another one for the "first world problems" compendium

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