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HSBC Premier / Expat / InvestDirect - UK Shares

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  1. #151

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    My read on this - no point making any decision on retail++ status... it is irrelevant for stocks. Advance and Premier customers pay the same commissions and see the same charges on stock holdings.

    For the record - am perfectly happy with HSBC HK + DBS HK for access to HK/US/UK/SG markets.

    In my experiments with HSBC / DBS / SAXO / IB - I found my current solution described above as the most painless and effective for dividend income.

    HSBC Expat seems to have marginally better FX rates - I had originally looked at this for buying UK ETFs via InvestDirect, but did not proceed as DBS worked for me, continues to work. They also have better GBP fixed deposit rates (for new funds only) - may be for HKD/USD too... have not checked. It could serve as a good vehicle to keep your cash if you are concerned about capital controls specific to HK.

    The higher transaction cost is not that big an issue, as the round trip cost is factored into the purchase price... and becomes irrelevant when you look at your total return.

    (And randomly - specific to stocks - other than transfers, we've not had any human or individual contact with any of these banks in say the last six months.)

    AliT likes this.

  2. #152

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    Quote Originally Posted by AliT:
    HSBC will continue to strategically change, just don’t let the media be your judge, jury and executioner.
    Also, over years I've realised .... they say one thing, do another and then there is a management change in six months and someone says a third thing and executes a fourth thing. Much like most banks that do not have strong management - few do. Pointless and random noise both from HSBC and from media.
    TheRoadAhead and AliT like this.

  3. #153

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    Apr 2019
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    221
    Quote Originally Posted by pin:
    HSBC pulling out of Jersey and pulling out of Investdirect is NOT the same as HSBC pulling out of the US and other markets. Jersey and Investdirect are both part of HSBC's core statergy.

    But as others have said, it is really up to you to decide at the end of the day. After all, its your money.
    They won’t pull out of Jersey I agree but I don’t really see the benefits of Expat or Premier (at least in my situation)

  4. #154

    Join Date
    May 2019
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    Quote Originally Posted by TheRoadAhead:
    They won’t pull out of Jersey I agree but I don’t really see the benefits of Expat or Premier (at least in my situation)
    That's fair enough. I think the appeal to some has been very well established in this and multiple other threads in the past couple of weeks. Some people prefer to keep their shares in a bank instead of a broker as they perceive the credit risk as being lower, some of those same people want access to UK ETFs for the tax withholding and estate tax benefits - that narrows it down to three choices for those working in Hong Kong: HSBC Expat, DBS and BEA*. For those who are concerned about capital potentially being locked up in HK due to further erosion of rights, then HSBC Expat is the only choice that fits all three criteria as your shares are UK domiciled. Whether any or all of those three things are actually likely/worth worrying about is likely not worth discussing again as everyone has a different opinion and it's been covered quite extensively already.

    *BEA probably isn't very useful/realistic. Fees are like 500hkd per purchase of stock, and the minimum purchase is 500,000 (figures from memory).
    shri, pin, Flapster and 2 others like this.

  5. #155

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    Quote Originally Posted by Kowloon72:
    That's fair enough. I think the appeal to some has been very well established in this and multiple other threads in the past couple of weeks. Some people prefer to keep their shares in a bank instead of a broker as they perceive the credit risk as being lower, some of those same people want access to UK ETFs for the tax withholding and estate tax benefits - that narrows it down to three choices for those working in Hong Kong: HSBC Expat, DBS and BEA*. For those who are concerned about capital potentially being locked up in HK due to further erosion of rights, then HSBC Expat is the only choice that fits all three criteria as your shares are UK domiciled. Whether any or all of those three things are actually likely/worth worrying about is likely not worth discussing again as everyone has a different opinion and it's been covered quite extensively already.

    *BEA probably isn't very useful/realistic. Fees are like 500hkd per purchase of stock, and the minimum purchase is 500,000 (figures from memory).
    Very nicely summed up. Thanks for that.
    Kowloon72 and TheRoadAhead like this.

  6. #156

    Join Date
    Jul 2015
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    In a similar vein, has anyone bought managed funds through HSBC Expat?

    For example:
    https://www.expat.hsbc.com/wealth/in...estment-funds/
    https://www.expat.hsbc.com/wealth/in...t-class-funds/

    The World Selection Portfolios have a 1% upfront cost + ongoing 1.5%pa, the other funds are similar but have a 5% upfront cost (which seems super high to me). Anyone tried to get discounted fees with Expat (like you'd do here with local banks through your RM)?

    Seems buying these funds avoids the hassle of getting share dealing set up through Expat and also the invested funds will (I assume) count towards the required minimum balance.


  7. #157

    Join Date
    Oct 2018
    Posts
    263

    I can't open page 17 of this thread. I think it has been discussed before, but here I go again: You can open an offshore citibank account in Jersey (among others) from HK. You need to open a citigold (?) account and deposit HKD 1.5 M in HK, and then you can open the offshore account (you need to deposit another USD 200,000 to open it) and then you can close the account in HK account.

    This is neeter than with SC. With SC you can open an account in Singapore after opening one in HK, but once you open the Singapore one you are not allowed to close the one in HK.

    With Citibank you can trade stocks in 25 countries online, but the charges are high: USD 75 per trade.

    https://www.citi.com/ipb/europe/weal..._brokerage.htm


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