How much cost you an ATM Card at HSBC?

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  1. #1

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    How much cost you an ATM Card at HSBC?

    1) I recently openned an account at HSBC Hong Kong from France with my premier account.

    I just received my ATM card and they said that they will charge me 380HKD per month if i don't have 1,000,000 HKD on my account.

    That's crazy fees. Is this common in HK?

    2) They also openned me two account:

    One related to my ATM card and one related to my chequebook. That means that i need to have money on this two account if i want to use both ATM card and chequebook?

    3) Can we make purchase in shops with an ATM card?


  2. #2

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    ATM cards you can make purchase in shops if you see the EPS logo, they will swipe your card and you punch in your pin number and the amount get deducted from you account. You must have money in it to use EPS.

    Cheque book account, u must have money in it to cover any cheques that you write out, the person/company receiving it will cash it into the bank and when the bank process it, it will come from your cheque account, if there is no money there then the cheque will bounce.

    Never bothered with premier account with all their stupid charges, i just stick to my super ease account with HSBC.


  3. #3

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    I was going to get charged £100 by HSBC to open an account in HK from the UK. I thought it would be easier to transfer my money into it from the UK and just arrive with my ATM card but the cost of doing this was radiculus.

    I think you have opened the wrong account. I have spoken to HSBC and they advised a powervantage account or something named like that which is opened with $2,000HK.


  4. #4

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    They also said that it will cost me 140€ to open an HK account from France if i wasn't Premier.

    So I open a Premier account which should be free. But they never tell about the 380 HKD fee if i don't leave 1,000,000 HKD on the account


  5. #5

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    So why are you opening a Premier account if you don't plan to leave 1million HKD on the account?


  6. #6

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    I didn't know that


  7. #7

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    Hang on - some misinformation here.

    For HSBC Premier you only have to meet the criteria in one country in the world, not all of them. If you meet the HSBC Premier free banking criteria in France then you won't be charged anything for a Premier account anywhere in the world, even if you only have 1 dollar in it. That's the whole point of Premier. Moreover you will be able to transfer money instantaneously free of charge between your Premier accounts around the world. I don't understand wtbhotia's comment about all the "stupid charges" for a Premier account - if you meet the criteria for one (anywhere in the world) then there are far fewer (or lower) charges than any other type of HSBC account.

    2) You can withdraw cash from either your savings account or your current (chequing) account using your ATM card. In the rare event you write cheques then the money must be in your current (chequing) account. Since the interest on the Savings Account is negligible currently it doesn't really matter if you move all your money into your chequing account if you really intend to write cheques.

    3) Yes - you can use your ATM card to make purchases in most places - the facility is called EPS. The retailer swipes your card and hands you a terminal to select which of your accounts to debit and for you to enter your PIN.


  8. #8

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    Quote Originally Posted by PDLM:

    2) You can withdraw cash from either your savings account or your current (chequing) account using your ATM card. In the rare event you write cheques then the money must be in your current (chequing) account. Since the interest on the Savings Account is negligible currently it doesn't really matter if you move all your money into your chequing account if you really intend to write cheques.
    Rare event you have to write cheques??

    Heh, you must be joking. I've never written as many cheques in my life as I have had to in HK!!

  9. #9

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    I think I've written about 10 in 10 years (certainly only one in the last two years).

    Why so many for you? (Business are different I guess, but I mean at a personal level)

    Last edited by PDLM; 30-09-2009 at 11:11 AM.

  10. #10

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    Quote Originally Posted by PDLM:
    Hang on - some misinformation here.

    For HSBC Premier you only have to meet the criteria in one country in the world, not all of them. If you meet the HSBC Premier free banking criteria in France then you won't be charged anything for a Premier account anywhere in the world, even if you only have 1 dollar in it. That's the whole point of Premier. Moreover you will be able to transfer money instantaneously free of charge between your Premier accounts around the world. I don't understand wtbhotia's comment about all the "stupid charges" for a Premier account - if you meet the criteria for one (anywhere in the world) then there are far fewer (or lower) charges than any other type of HSBC account.
    It depends on where you open your first account. In HK and UK it works like this, but for other countries, they might have other policies. I have heard of people opening HSBC Premier in Canada and then want to open HSBC Premier in HK, and HSBC Canada insisted you will need the minimum balance in BOTH countries. Perhaps it is the same for France?

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