[Official] HSBC Premier

[quekkb]

By the way, you can open HSBC Hong Kong account as well online.

https://www.hsbc.com.hk/international/banking-in-hong-kong/

Once you open HSBC overseas account, you just global link between HSBC SG to HSBC HK/US etc. When you login HSBC SG App, you can see all your accounts.

 

[maumu]

By the way, you can open HSBC Hong Kong account as well online.

https://www.hsbc.com.hk/international/banking-in-hong-kong/

Once you open HSBC overseas account, you just global link between HSBC SG to HSBC HK/US etc. When you login HSBC SG App, you can see all your accounts.

thanks.

I don't trade shares... not even in SG. can I say I'm interested to put USD in their FDs since their rates are more favourable?

 

[ericcsn]

Below is some of the remit I have tested from DBS to HSBC account globally or other account:

DBS - HSBC Hong Kong (HKD) : Free (Immediately)
DBS - HSBC USA (USD): Free (3 to 4 hours)
DBS - HSBC Jersey (EUR): Free (within hour to a day)
DBS - HSBC Jersey (Pound): Free (Immediately) (Note: I have HSBC UK account but inward Remit charge $5 pound but free for HSBC Jersey)
DBS - CIMB Malaysia (MYR): Free (within few hours)

Country I have not tested:

DBS - HSBC UAE (AED): Free
DBS - HSBC Australia / Macquarie Bank (AUD): Free (Inward Remit of AUD$10 by HSBC Australia but free for Macquarie Bank)

Are funds in each HSBC country account covered by SDIC like arrangements?

 

[quekkb]

thanks.

I don't trade shares... not even in SG. can I say I'm interested to put USD in their FDs since their rates are more favourable?

You can try and they will probably ask you how much are you going to bring in. .

It is also handy to have HSBC US account. All HSBC account has debit card so you are using like a local.

My experience with HSBC HK is when I landed in HK, I just use HSBC HK debit card to withdraw enough to take a cab to hotel. Before I left Hong Kong, I just deposit all the money back to the account.

 

[quekkb]

Are funds in each HSBC country account covered by SDIC like arrangements?

Each country has their own covered by their government. Only open HSBC account in sound financial system country.

 

[ericcsn]

Each country has their own covered by their government. Only open HSBC account in sound financial system country.

That’s far better than if I leave USD in DBS. Foreign currencies with DBS are not covered by SDIC

 

[turtle2018]

There is a 6 months promo? Only saw the invite that it'll end by December 2025, did they extend it for you?

I meant the invite which was sent near end-Sep 2025, which comprised:
(a) 6-mth (Oct 2025 to Mar 2026) Treasures membership with no min. AUM
(b) 3-mth (Oct to Dec 2025) Multiplier with up to 4.5% p.a. & cap at $200k

I was referring to (a) only.

 

[turtle2018]

The welcome rewards were great but am struggling to see why anyone should continue to be in hsbc premier banking after the 6 months passage when a personal hsbc account can do.

There is nothing really here that has monetary benefits staying as a premier banking customer beyond it.

Conversely and relative to other banks it has unattractive (punitive) clauses eg. a high fall below fee charge for account and with premier credit card for not meeting the min AUM. (The min AUM being a chicken and egg issue - not attractive enough to stay continuously monthly after month given the nature of its deposit account EGA - incremental balance vs reference month and so you move your funds elsewhere in which case u went below the min AUM).

Would do just as well with a hsbc personal banking account.

I also thought about this a few months ago, & reached a similar conclusion as yours, i.e. for EGA & Everyday+ fresh fund promo, no difference whether premier or personal status.

But I still decided to keep the HSBC Premier status because

(1) currently I hold enough unit trust with HSBC, so do not have to worry about AUM yet. In those months when I need to play musical chair of funds, I can empty the bal. to zero if I wish.

(2) HSBC Premier MasterCard provides unlimited lounge visits, which may be useful if I need to travel more extensively in coming years. I'm waiting for a good timing to apply so as to benefit from sign-up bonus (miles)

 

[quekkb]

I also thought about this a few months ago, & reached a similar conclusion as yours, i.e. for EGA & Everyday+ fresh fund promo, no difference whether premier or personal status.

But I still decided to keep the HSBC Premier status because

(1) currently I hold enough unit trust with HSBC, so do not have to worry about AUM yet. In those months when I need to play musical chair of funds, I can empty the bal. to zero if I wish.

(2) HSBC Premier MasterCard provides unlimited lounge visits, which may be useful if I need to travel more extensively in coming years. I'm waiting for a good timing to apply so as to benefit from sign-up bonus (miles)

As I have HSBC overseas account and it is global link, I need to maintain my premier or I will loss the ability for instant transfer.

 

[ericcsn]

I also thought about this a few months ago, & reached a similar conclusion as yours, i.e. for EGA & Everyday+ fresh fund promo, no difference whether premier or personal status.

But I still decided to keep the HSBC Premier status because

(1) currently I hold enough unit trust with HSBC, so do not have to worry about AUM yet. In those months when I need to play musical chair of funds, I can empty the bal. to zero if I wish.

(2) HSBC Premier MasterCard provides unlimited lounge visits, which may be useful if I need to travel more extensively in coming years. I'm waiting for a good timing to apply so as to benefit from sign-up bonus (miles)

1. I had one big problem if I downgrade.

2. My Significant Other - the boss - she has the HSBC sub card for lounge visits. Moving away from premier meant I have to get her another one from another bank (and I dont think priority Stanchart has similar; just main card for 12 visits where you can bring a guest but then how to include another family member.)

3. But now I have reassessed.

4. Excellent to have this foreign banking facility.

5. I am moving large amount of money regularly with recent big windfalls and it is super advantageous (given features you can take advantage of).

6. I am going for Premium elite rewards and have to stay in for another 6 months to qualify.

 

[maumu]

...

(1) currently I hold enough unit trust with HSBC, so do not have to worry about AUM yet. In those months when I need to play musical chair of funds, I can empty the bal. to zero if I wish.

...

my RM says still need to maintain min. $2k in EGA account even for Premier customers, else will kena $5 fall-below fee.

so cannot empty the balance to zero...

have you tried emptying to zero before? and not been charged with the $5?

 

[maumu]

You can try and they will probably ask you how much are you going to bring in. .

It is also handy to have HSBC US account. All HSBC account has debit card so you are using like a local.

My experience with HSBC HK is when I landed in HK, I just use HSBC HK debit card to withdraw enough to take a cab to hotel. Before I left Hong Kong, I just deposit all the money back to the account.

which US account did you open actually? I went to the US HSBC website and saw there's the Global Money Account (sounds like equivalent to our EGA) - is that the one?

any min. balance and fall-below fees?

 

[quekkb]

my RM says still need to maintain min. $2k in EGA account even for Premier customers, else will kena $5 fall-below fee.

so cannot empty the balance to zero...

have you tried emptying to zero before? and not been charged with the $5?

I only have $150 in my EGA and never got $5.

 

[quekkb]

which US account did you open actually? I went to the US HSBC website and saw there's the Global Money Account (sounds like equivalent to our EGA) - is that the one?

any min. balance and fall-below fees?

No. Only Premier Checking allow foreigner for premier customer to open and does not need to meet the TRB.

https://www.us.hsbc.com/checking-accounts/products/premier/

Global Money account needs US address.

 

[turtle2018]

my RM says still need to maintain min. $2k in EGA account even for Premier customers, else will kena $5 fall-below fee.

so cannot empty the balance to zero...

have you tried emptying to zero before? and not been charged with the $5?

The answer can be found in the Fees & Charges doc (you can download a copy from website for future reference)

Page 6 & 7: It states that a min. ac bal. fee of $5 applies when the average daily balance (ADB) falls below S$2,000
Your RM probably only read this & advised you accordingly. But if he/ she reads further

Page 22 & 23 (HSBC Premier Privileges):
Deposit AC/ Min. AC Bal Fee: Waived

My ADB for Jul 2025 was $34, & for Oct 2025 was $68. Didn't get any $5 charges.

 

[maumu]

The answer can be found in the Fees & Charges doc (you can download a copy from website for future reference)

Page 6 & 7: It states that a min. ac bal. fee of $5 applies when the average daily balance (ADB) falls below S$2,000
Your RM probably only read this & advised you accordingly. But if he/ she reads further

Page 22 & 23 (HSBC Premier Privileges):
Deposit AC/ Min. AC Bal Fee: Waived

My ADB for Jul 2025 was $34, & for Oct 2025 was $68. Didn't get any $5 charges.

thanks... sigh, another poor advice from RM.

 

[ericcsn]

thanks... sigh, another poor advice from RM.

and you bought a hybrid life annuity / endowment stuff from her.

 

[quekkb]

thanks... sigh, another poor advice from RM.

Sometimes RM may not know as much as we do.

 

[quekkb]

That’s far better than if I leave USD in DBS. Foreign currencies with DBS are not covered by SDIC

https://www.fdic.gov/resources/deposit-insurance/understanding-deposit-insurance

Deposit of USD in HSBC US is covered $250K.

https://www.dps.org.hk/en/coverage.html

Deposit of HKD in HSBC HK is covered HK$800K

https://www.fscs.org.uk/what-we-cover/

Deposit of Pound in HSBC UK is covered $120K

 

[s5narl]

Saw a Dec 7 post that mentioned no custody fees. I just spoke to my RM about transferring in Singapore ETFs. He said there was a custody fee of 0.5%, a third party fee, so doesn't appear in the fees and charges. Can anyone verify who has Singapore ETFs in their account?