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Old 16-09-2013, 05:47 PM   #7
invisible999
Master Member
 
Join Date: Apr 2012
Posts: 3,425
HSBC Premier

Asset requirements: 100K USD total assets under management (current/savings/brokerage account), different limits in different countries.
Fall below fee charged: Yes, $50/mo
Downgrade if AUM not met: Yes, to different tiers

Pros:
- Global transfers between accounts on different countries. Access to HSBC ATM is many countries w/o ATM withdrawal fees.
- Airport lounge access in various airports (HKG, IST and some others)
- US account holders: Global World Mastercard coming with 40K bonus points which can be transferred either to AsiaMiles or KF, no annual fee for the card for primary and supp card holders. No foreign transaction fees. During certain period (March to September) card earns double miles for any eligible transaction.
- US account holders will get local World Premier MC in other countries too.

Cons:
- While Global Transfers are available, rate is not only unattractive, but quite unfavorable for account holder. One would be better to use wire transfer between accounts. To use the best rate min $50K USD funds are required to be allocated.
- Completely incompetent clerks and CSOs both in Singapore and US - you have to do your own due diligence all the time.
- Airport lounges are worse than most airline lounges. If one has elite status (Star Alliance Gold for example) you would be better to go in lounges offering better service and amenities.
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