[Official] HSBC Premier

[quekkb]

They cant post the debit card to you outside of china so be prepared to return to the branch after about 2 weeks to collect it. That was my experience about 2 years ago. Hopefully it has improved. Your CCB account was opened in mainland?

I just confirmed with HSBC China. They can post the debit card to corresponding address.

 

[quekkb]

anyone performed overseas cash withdrawals with premier ega debit card? what are the fees like?

i’m sure atm fee is zero if withdrawn at overseas hsbc atms and in any of the hard currencies. any fee if using non hsbc atm? any fx free if withdrawn in currency other than the 10 support currencies, eg myr or rupee? what the fx rates like? any markup?

I think it depends on which countries you want to withdraw cash.

 

[quekkb]

When changing HSBC "home" account from HSBC country "A" to "B" for premier status purpose, contact RM of the "A" or the RM of "B"? Thought the former might be weird.

Also not sure if residency status in "B" may be required for changing home country. I guess changing to Jersey will be OK since they are offshore place, but changing to MY, CN or US?

Contact RM of B.

 

[kitkat2]

I think it depends on which countries you want to withdraw cash.

so not world-wide?

 

[quekkb]

so not world-wide?

Usually use in oversea HSBC bank ATM should be free but there are some overseas HSBC account is not free. If you use in other overseas bank, I think there are charges but depends on your account status whether you are normal account, premier account or premier elite account.

 

[kitkat2]

Usually use in oversea HSBC bank ATM should be free but there are some overseas HSBC account is not free. If you use in other overseas bank, I think there are charges but depends on your account status whether you are normal account, premier account or premier elite account.

premier.

if not free, then can't find any good use for my new premier status. inadvertently got upgraded. will request downgrade.

 

[rest1ess]

premier.

if not free, then can't find any good use for my new premier status. inadvertently got upgraded. will request downgrade.

It thought that's the best scenario. They shouldn't enforce the minimum requirements if they are the one who grant you the premier status right?

 

[quekkb]

premier.

if not free, then can't find any good use for my new premier status. inadvertently got upgraded. will request downgrade.

They upgrade you because you meet the minimum requirement, am I right?

 

[quekkb]

There was period last year, they wanted to grow their Premier, so sent out invites to auto upgrade.

They give you the choice to opt out if you dun want to join. So if you dun opt out, you are in and must comply with their AUM

Why accept auto upgrade with no benefits? Ownself join got rewards right?

DBS is better, auto upgrade to Treasures with rewards, then can opt out if change mind, no fee!

ok. Didn't know that as I already meet X times of their AUM requirement.

 

[kitkat2]

It thought that's the best scenario. They shouldn't enforce the minimum requirements if they are the one who grant you the premier status right?

They upgrade you because you meet the minimum requirement, am I right?

was having issues opening securities account on my app. visited a branch hoping to get it sorted out quicker, only to realize they closed many branches and the remaining ones don't have counter service and operate VIP lounges.

was handled by a RM. he was more interested in getting me to premier. i don't really care abt min aum, because i know if i can't meet, i just leave the balance zero. as long as he can fix my problem, i don't mind helping him hit his kpi.

in the end, i still couldn't open securities account, and we no longer need the wealth component for bonus interests. thought the premier debit card would be useful to my travel needs, as i now prefer to withdraw cash overseas instead of going to the money exchanger before departing.

 

[quekkb]

was having issues opening securities account on my app. visited a branch hoping to get it sorted out quicker, only to realize they closed many branches and the remaining ones don't have counter service and operate VIP lounges.

was handled by a RM. he was more interested in getting me to premier. i don't really care abt min aum, because i know if i can't meet, i just leave the balance zero. as long as he can fix my problem, i don't mind helping him hit his kpi.

in the end, i still couldn't open securities account, and we no longer need the wealth component for bonus interests. thought the premier debit card would be useful to my travel needs, as i now prefer to withdraw cash overseas instead of going to the money exchanger before departing.

The benefit for premier customer is (1) you can withdraw cash from overseas if it is HSBC ATM overseas except HSBC USA. (2) You can open HSBC overseas bank account, (3) no annual fee for HSBC Premier credit card if you meet AUM.

Why you can't open a securities account? I think you need to open a investment account.

 

[kitkat2]

The benefit for premier customer is (1) you can withdraw cash from overseas if it is HSBC ATM overseas except HSBC USA. (2) You can open HSBC overseas bank account, (3) no annual fee for HSBC Premier credit card if you meet AUM.

then can only travel only those countries using the 10 hard currencies or pay fees. not eligible for cc

Why you can't open a securities account? I think you need to open a investment account.

keep getting some error codes. gave up already

 

[quekkb]

then can only travel only those countries using the 10 hard currencies or pay fees. not eligible for cc



keep getting some error codes. gave up already

What error code (ORMXXX) ? Is it particular stock counter? The reason I ask is I also got stock counter error code and my RM and I found out if the stock counter is a new listing, it needs to be setup by backend.

 

[kitkat2]

What error code (ORMXXX) ? Is it particular stock counter? The reason I ask is I also got stock counter error code and my RM and I found out if the stock counter is a new listing, it needs to be setup by backend.

nope. couldn't even open account. forgot the code already. so troublesome error here error there, need manual setup, etc.

the RM even asked me why open, since their product isn't every attractive. i told them i plan to transfer some stocks from etrade to hsbc so that i can earn that tiny extra interest. he said it's not possible to move from etrade although some of you here did just that.

 

[quekkb]

nope. couldn't even open account. forgot the code already. so troublesome error here error there, need manual setup, etc.

the RM even asked me why open, since their product isn't every attractive. i told them i plan to transfer some stocks from etrade to hsbc so that i can earn that tiny extra interest. he said it's not possible to move from etrade although some of you here did just that.

Yes. I transferred my etrade shares to HSBC SG.

 

[quekkb]

nope. couldn't even open account. forgot the code already. so troublesome error here error there, need manual setup, etc.

the RM even asked me why open, since their product isn't every attractive. i told them i plan to transfer some stocks from etrade to hsbc so that i can earn that tiny extra interest. he said it's not possible to move from etrade although some of you here did just that.

It depends on how much you transfer. You can show the statement to the RM and they will transfer for you. But it is a long process with Etrade. I suggest it is better to transfer from Etrade to HSBC. Etrade delays and keep on push back on the transfer and I have to log a complain to Etrade.

 

[kitkat2]

It depends on how much you transfer. You can show the statement to the RM and they will transfer for you. But it is a long process with Etrade. I suggest it is better to transfer from Etrade to HSBC. Etrade delays and keep on push back on the transfer and I have to log a complain to Etrade.

thanks for sharing. now no more wealth bonus int, so no need liao. better for me to keep in etrade. more familiar with etrade. thanks!

 

[quekkb]

thanks for sharing. now no more wealth bonus int, so no need liao. better for me to keep in etrade. more familiar with etrade. thanks!

The timing of getting the bonus is very difficult because it takes at least 1 month to complete the transfer from Etrade to HSBC Sg. I was lucky that after the transfer, there is a promotion and my RM enrolled me the program. I got about $5,000.

 

[yuppieboy]

Anyone here experienced the same issue as me? At the time of joining the premier program in March, they have this promo of either putting in fresh fund of $200k or $300k. Difference being the rewards for joining is either cash reward or 1360 Singapore dollars liquidity fund respectively.

I choose the latter option and decide to put in $300k. However, in September, the reward given was just $680. I call up to enquire about it but till now, no feedback on this issue was given. Felt like got cheated by their promo.

 

[kitkat2]

The timing of getting the bonus is very difficult because it takes at least 1 month to complete the transfer from Etrade to HSBC Sg. I was lucky that after the transfer, there is a promotion and my RM enrolled me the program. I got about $5,000.

i got zero. time to cancel premier 🫠