[Official] HSBC Premier

[CaptainWu]

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?

No custody fees so far for me, but transfer-in you need to pay for CDP charges even no change of beneficial, I remember its $5 per counter excluding GST. Some RMs are not familiar the charges so created lots of confusion when I transferred-in. Please also note HSBC transfer-out charge is high (I think 0.5%), effectively you should aim for sell rather than transfer out in the future.

 

[Garlic & Butter]

just for quick comparison, SCB does not offer personal accounts in SCB US. The RM mention can open in HK, Jersey, HK, UAE and some other countries i dont recall. so those who want to transfer USD out from SCB SG to another SG bank can consider using cheque (USD 3 clearing fee + 1 day loss of interest)

 

[elvintay07]

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.

The most power account if you don’t want to trade stocks is OCBC premier. It comes with global Mastercard elite and premier voyage (unlimited lounge visits and points that never expire). SC priority visa infinite has 12 visits (not sure whether has changed). She used to sign everyone into the lounge but I am told cannot be done.

HSBC is not bad if you trade stocks. Auto AUM

 

[quekkb]

The most power account if you don’t want to trade stocks is OCBC premier. It comes with global Mastercard elite and premier voyage (unlimited lounge visits and points that never expire). SC priority visa infinite has 12 visits (not sure whether has changed). She used to sign everyone into the lounge but I am told cannot be done.

HSBC is not bad if you trade stocks. Auto AUM

OCBC trading cost is high and just placing deposit with current interest rate will not beat the inflation.

 

[quekkb]

just for quick comparison, SCB does not offer personal accounts in SCB US. The RM mention can open in HK, Jersey, HK, UAE and some other countries i dont recall. so those who want to transfer USD out from SCB SG to another SG bank can consider using cheque (USD 3 clearing fee + 1 day loss of interest)

Do you mean SCB also can open SCB overseas account? Do they offer global link/view and global transfer?

 

[quekkb]

I have been comparing premier across the banks and I find HSBC premier is considered the best.

 

[s5narl]

No custody fees so far for me, but transfer-in you need to pay for CDP charges even no change of beneficial, I remember its $5 per counter excluding GST. Some RMs are not familiar the charges so created lots of confusion when I transferred-in. Please also note HSBC transfer-out charge is high (I think 0.5%), effectively you should aim for sell rather than transfer out in the future.

Do you mind sharing which counters you transferred in or the types of counters?

Do you (or anyone really) if a distinction is made for different counters on SGX, since I am invest in ETFs like ES3, i.e. if ETFs have charges (or certain categories) but other categories of counters do not have charges?

RM said that these were 3rd party charges but that seemed odd to me.

Also, does anyone know where there would be another source to check this?

 

[quekkb]

Do you mind sharing which counters you transferred in or the types of counters?

Do you (or anyone really) if a distinction is made for different counters on SGX, since I am invest in ETFs like ES3, i.e. if ETFs have charges (or certain categories) but other categories of counters do not have charges?

RM said that these were 3rd party charges but that seemed odd to me.

Also, does anyone know where there would be another source to check this?

I did a transfer from US Etrade to HSBC and SGX CDP to HSBC Oct 2025.

For US Etrade brokerage, the transfer in is free as Etrade does not charge me anything. HSBC is free (HSBC uses SAXO as custody for US shares which keep at Citibank US).

For SGX CDP transfer in, CDP charges HSBC via 3rd party brokerage (HSBC uses SAXO) and HSBC will deduct the $10 per counter fee. I did the second batch in Dec 2025 and it is the same cost.

There is no custody fee for HSBC to hold your SGX and US stock with them.

 

[Garlic & Butter]

Do you mean SCB also can open SCB overseas account? Do they offer global link/view and global transfer?

Since SCB said they dont offer US accounts, i did not proceed further. Their website don’t mention much on this too. Maybe MAS will come out with some EDP product for USD clearing this year? . Now I realised HSBC premier has quite a competitive product vs SCB priority/ priority private. Still checking on their lounge/ limousine benefits etc

 

[quekkb]

Since SCB said they dont offer US accounts, i did not proceed further. Their website don’t mention much on this too. Maybe MAS will come out with some EDP product for USD clearing this year? . Now I realised HSBC premier has quite a competitive product vs SCB priority/ priority private. Still checking on their lounge/ limousine benefits etc

Yes. I compare both SCB and HSBC, HSBC premier has more competitive product. Their premier credit card has unlimited access to airport lounge for Primary and Supplementary cardholder. I also managed to open UK, Jersey, UAE, HK, US account with global link and view. I use Jersey to TT fund to non-HSBC account around the world as they don't charge fee. Example, I can use Jersey to transfer USD to Singapore brokerage account (received USD) without paying fee.

 

[CaptainWu]

Do you mind sharing which counters you transferred in or the types of counters?

Do you (or anyone really) if a distinction is made for different counters on SGX, since I am invest in ETFs like ES3, i.e. if ETFs have charges (or certain categories) but other categories of counters do not have charges?

RM said that these were 3rd party charges but that seemed odd to me.

Also, does anyone know where there would be another source to check this?

ETF I only transfer MBH, the rest are Stock counters. Ask you RM to show where the statement about the 3rd parties charges, or the 3 party RM may refer to transferring out broker? There is a "HSBC Bank (Singapore) Limited Request for Transfer of Securities/Unit Trust Form" May be you can ask the RM to send you a copy to review, details should all be there.

 

[Garlic & Butter]

hmm was comparing HSBC vs SCB for some lifestyle offers:
overseas ATM cash withdrawal: SCB no fees via Cirrus; HSBC $8, except house brand-ATMs
Online SGX trading: SCB 0.18% vs HSBC 0.15%
Inward TT: same $10
SGD MEPS @ branch: SCB $20 vs HSBC $1?
Limousine: SCB PB: none, SCB PP: 8 worldwide; HSBC: 8 in Singapore only
Birthday cake: SCB PP only
Lounge: SCB PB: 12, SCB PP: 24, HSBC: unlimited
APEC travel card: SCB: free, HSBC ?

Also, to maintain Premier Status, hw do they calculate the minimum total relationship balance?

Can I also open HSBC Malaysia and just deposit/ maintain MYR 300K eqv but leave the SG accounts empty for example?

https://www.hsbc.com.my/premier/

 

[quekkb]

hmm was comparing HSBC vs SCB for some lifestyle offers:
overseas ATM cash withdrawal: SCB no fees via Cirrus; HSBC $8, except house brand-ATMs
Online SGX trading: SCB 0.18% vs HSBC 0.15%
Inward TT: same $10
SGD MEPS @ branch: SCB $20 vs HSBC $1?
Limousine: SCB PB: none, SCB PP: 8 worldwide; HSBC: 8 in Singapore only
Birthday cake: SCB PP only
Lounge: SCB PB: 12, SCB PP: 24, HSBC: unlimited
APEC travel card: SCB: free, HSBC ?

Also, to maintain Premier Status, hw do they calculate the minimum total relationship balance?

Can I also open HSBC Malaysia and just deposit/ maintain MYR 300K eqv but leave the SG accounts empty for example?

https://www.hsbc.com.my/premier/

Yes, you can maintain MYR 300K to maintain HSBC Malaysia premier and empty HSBC SG account (although SG account remain as premier). However, your HSBC Premier credit card will be charging annual fee.

 

[HOT123]

hmm was comparing HSBC vs SCB for some lifestyle offers:
overseas ATM cash withdrawal: SCB no fees via Cirrus; HSBC $8, except house brand-ATMs
Online SGX trading: SCB 0.18% vs HSBC 0.15%
Inward TT: same $10
SGD MEPS @ branch: SCB $20 vs HSBC $1?
Limousine: SCB PB: none, SCB PP: 8 worldwide; HSBC: 8 in Singapore only
Birthday cake: SCB PP only
Lounge: SCB PB: 12, SCB PP: 24, HSBC: unlimited
APEC travel card: SCB: free, HSBC ?

Also, to maintain Premier Status, hw do they calculate the minimum total relationship balance?

Can I also open HSBC Malaysia and just deposit/ maintain MYR 300K eqv but leave the SG accounts empty for example?

https://www.hsbc.com.my/premier/

I have premier elite with hsbc, I thought their limo entitlement require spending to earn that?

 

[quekkb]

I have premier elite with hsbc, I thought their limo entitlement require spending to earn that?

Is it useful to have HSBC Premier Elite?

 

[HOT123]

Is it useful to have HSBC Premier Elite?

I have uk account, hence hsbc. Most of times I use ocbc and scb

 

[quekkb]

I have uk account, hence hsbc. Most of times I use ocbc and scb

HSBC Premier can also open UK account. I have UK, US, UAE, HK, Jersey account.

 

[Garlic & Butter]

I have premier elite with hsbc, I thought their limo entitlement require spending to earn that?

SCB PB: 0
SCB PP: 8, no minimum spending
HSBC Premier - SGD12,000 of eligible purchases during the previous calendar quarter
HSBC ELITE PREMIER - no minimum spend when you keep a total relationship balance of >SGD1.2 million or its equivalent in foreign currency with HSBC Singapore

 

[Garlic & Butter]

Yes, you can maintain MYR 300K to maintain HSBC Malaysia premier and empty HSBC SG account (although SG account remain as premier). However, your HSBC Premier credit card will be charging annual fee.

hi quekkb,

If I intent to just keep MYR 300k eqv in HSBC Malaysia, do I initiate the first account opening with them? Or the system clever enough to identify that 300k balance in MY branch is sufficient to waive all fall below fees, or do i need to indicate Malaysia as my "home" account? And if nxt month I empty out the MY account and keep S$200k in HSBC SG, the status still remains as Premier?

are there fall-below fees for the other zero-balance accounts/ markets?
does HSBC enforce this strictly?
Also, what's attractive about the HSBC Premier credit card apart from the 1.4mpd?, limou will be difficult to qualify and

 

[HOT123]

SCB PB: 0
SCB PP: 8, no minimum spending
HSBC Premier - SGD12,000 of eligible purchases during the previous calendar quarter
HSBC ELITE PREMIER - no minimum spend when you keep a total relationship balance of >SGD1.2 million or its equivalent in foreign currency with HSBC Singapore

Orh.... I didn't explore, can't even use up the other limo entitlement, good to know though