[Official] HSBC Premier

[Byfrost]

I see. U like this kind of superficial wayang stuff to feel good

I don't see it as "superficial" or "Wayang". When you buy a cheap $20 Casio watch, the box is a simple paper box, fair enough. When you buy a $100K Patek Philippe and if it comes in plain plastic bag, how you would you feel? Would you go "who cares, I'm buying the watch, not some superficial fancy packaging".

Or when you go to a $600 per pax fine dining meal, and your food is served in a Styrofoam disposable plate with disposable cutlery with tap water as your drink.

And no, I don't have the need to feel good. I just notice the details. Not as if the Premier welcome letter or package is gonna give me free money into my bank account. If don't have, so be it. I also couldn't care less about the RM, PSM, Lounge, free coffee etc etc. I'm just asking, that's all. Even when I first opened my first HSBC account as a Personal banking customer many years ago, I received a simple "Thank you for choosing HSBC" letter informing me about my new bank account details.

 

[Byfrost]

Can chill one (last time)

Oh, I always thought it's meant for Premier clients waiting for their turn to be served at the branch, then can drink. Otherwise a bit weird to go to a bank just for the coffee.

Nonetheless, I know people who have higher banking status just for the free coffee and cake, especially retirees who have nothing better to do. I have friends working in a few banks encountering this first hand, every day go drink free coffee and eat free cake, read newspaper and chill.

Nothing wrong also, it's their privilege.

 

[peppermint7]

For a premium account, I would expect them to have some sort of formality or sorts to welcome you. Even a simple postcard would be nice. I understand most people don't really care, but it's such details that makes a difference. It's more of a presentation thing.

If that's what you need, that's what you'll get. That's all

Other than this "welcome pack", it's pretty quiet thereafter. I don't feel any special as compared to those having normal account with them. About the coffee, i only self made at machine and drank once while waiting to open my account on the 1st day when I'm being made to wait close to an hour until i have to approach the other staffs around to ask why i have to wait that long..

 

[jetblack]

Maybe RM saw u joined premier by only transferring 15k in/out so he don’t bother to send u any welcome pack because u actually don’t belong to this class.

Decided to start this thread because, just realized there is no dedicated HSBC Premier thread.

Just a heads up, there's a newer and more accessible requirement to enroll for HSBC Premier, that does not require you to maintain S$200,000 in TRB.

In the HSBC Premier latest enrollment form, there is a new criteria (Page 3, last enrollment criteria) that says:

"Salary crediting or recurring deposit of at least S$15,000 per month"

"arrange for a recurring deposit, of at least S$15,000 per month in a single transaction to a deposit account with the Bank to remain qualified for HSBC Premier."

https://cdn.hsbc.com.sg/content/dam/hsbc/sg/documents/premier/enrolment-form.pdf

Previously if I recall correctly, it was strictly S$15,000 GIRO Salary requirement, and the "recurring deposit of S$15,000" is not there. Also, the fee waiver for the GIRO Salary requirement is only for the first two years.

I went to upgrade from my current HSBC Advance to HSBC Premier last week. Can confirm with the Premier Services Manager that handled the paperwork, as long as I do a recurring transfer of S$15,000 monthly, there will be no $50 Premier monthly service fee.

Just like HSBC Advance, where you can either maintain S$30,000 TRB, or just FAST Transfer In / Out S$3,500 monthly to maintain Advance status and avoid the $10 Advance monthly service fee.

 

[Byfrost]

If that's what you need, that's what you'll get. That's all

Other than this "welcome pack", it's pretty quiet thereafter. I don't feel any special as compared to those having normal account with them. About the coffee, i only self made at machine and drank once while waiting to open my account on the 1st day when I'm being made to wait close to an hour until i have to approach the other staffs around to ask why i have to wait that long..

I understand, I don't expect to feel special as well. In my line of work dealing with the real high net worth clients (USD100m<), I have seen RMs flying down from Switzerland to Singapore and other countries just to meet the client and sign some documents and pass them documents personally. So I understand where my position is and do not expect any VVIP kind of treatment for such low amounts.

Only purpose of this thread is to discuss and enjoy promotions from HSBC.

 

[Byfrost]

Maybe RM saw u joined premier by only transferring 15k in/out so he don’t bother to send u any welcome pack because u actually don’t belong to this class.

Go ahead keep up with your snobbish tone. Likewise to you, if you really have class, you will be banking with the likes of Credit Suisse, Julius Baer, J Safra Sarasin, Pictet Group and not such lowly peasant HSBC Premier.

HSBC Premier is only reserved for cheapskate peasants like us who cares about promotions.

Also, blame on HSBC for lowering the bar and introducing HSBC Jade.

 

[maumu]

chill all. we're just trying to make our money work harder. don't need to talk about class level. it's ok to express our opinions and expectations without prejudice.

personally hoping the bank can win back customers with simple to understand terms and conditions. but looks like it is not doing well internally (share price, money laundering claims, etc.).

 

[Byfrost]

chill all. we're just trying to make our money work harder. don't need to talk about class level. it's ok to express our opinions and expectations without prejudice.

personally hoping the bank can win back customers with simple to understand terms and conditions. but looks like it is not doing well internally (share price, money laundering claims, etc.).

Thanks for understanding.

Yes, for the majority of us, we are just making our money work harder with promotions and privileges that we can enjoy.

Hence this thread is to discuss what promotions Premier clients can enjoy.

 

[jetblack]

Wow I’m just guessing a possibility why u didnt get welcome pack and it is highly probable cos the RM knows u only have 15k so he don’t bother to write and post u simple letter. (I wouldnt too lol)

No one needs to “get in to likes” of banks u mentioned. Im just amazed why u are so troubled by it

Go ahead keep up with your snobbish tone. Likewise to you, if you really have class, you will be banking with the likes of Credit Suisse, Julius Baer, J Safra Sarasin, Pictet Group and not such lowly peasant HSBC Premier.

HSBC Premier is only reserved for cheapskate peasants like us who cares about promotions.

Also, blame on HSBC for lowering the bar and introducing HSBC Jade.

 

[yiron]

It's a good to have I guess..

In my case, my Advance profile that I selected when signing up for Advance banking is "Salary crediting or recurring deposit of at least SGD3,500 per month and have applied for / hold a HSBC Credit card". So I do the FAST In / Out method monthly to maintain it.

As for Premier, now they have introduced the new criteria profile "arrange for a recurring deposit, of at least S$15,000 per month in a single transaction to a deposit account with the Bank to remain qualified for HSBC Premier"

Just do the same FAST In / Out, as usual. The only change for me is the FAST amount. No need to maintain S$200,000.

So to me is, why not?

Thanks for sharing. I'm already on Premier but good to know there's alternative ways to maintain the status without $200k TRB. For the recurring deposit requirement, need not be a standing GIRO arrangement? Can just manual FAST in and FAST out straightaway and need not maintain any balance?

 

[arctician]

should just merge the 2 threads together, anyway i am not bothered about their service quality, its the interest that counts.

Gone are the good days when you can let welcome offers, taka vouchers, high interest rates, cathay air tickets, mandarin hotel gift cards etc etc

The train has left 4-5years ago, even if you board now only left the frills.

 

[peppermint7]

Thanks for sharing. I'm already on Premier but good to know there's alternative ways to maintain the status without $200k TRB. For the recurring deposit requirement, need not be a standing GIRO arrangement? Can just manual FAST in and FAST out straightaway and need not maintain any balance?

Hi 5! I didn't know that too. Too late ive already downgraded to Advance. But there again, i don't see any thing attractive to be on Premier.. other than the welcome gift that make our hair splits which is no longer available

 

[Byfrost]

Thanks for sharing. I'm already on Premier but good to know there's alternative ways to maintain the status without $200k TRB. For the recurring deposit requirement, need not be a standing GIRO arrangement? Can just manual FAST in and FAST out straightaway and need not maintain any balance?

Yes, just do the FAST in and FAST out, like what most people are doing for Advance banking. The GIRO arrangement was something in the past 1 or 2 years, where it is a strict GIRO-SALARY requirement from corporate / business bank accounts, and the fee waiver for it is only valid for 2 years.

Oh, since you're already on Premier, please inform your RM, PSM to do a change of "banking profile" on their system to reflect the changes. I actually checked with them with an example, say if I am on the "recurring S$15,000 deposit" profile but suddenly choose to deposit in S$200,000 and leave it there, will I get hit the $50 service fee? They told me there is a chance I still will, as the enrollment profile registered with their system for me is the "S$15,000 recurring deposit" profile. If the systems detect there is no S$15,000 incoming for that month, even if you have S$200,000 TRB inside, you "may" get charged with the S$50 service fee. So to be on the safe side, just inform them you want to change to a new Premier client profile, and want the recurring S$15,000 deposit profile instead.

The updated criteria is all listed in the enrollment form below, which is changeable.

https://cdn.hsbc.com.sg/content/dam/hsbc/sg/documents/premier/enrolment-form.pdf

 

[peppermint7]

Wow I’m just guessing a possibility why u didnt get welcome pack and it is highly probable cos the RM knows u only have 15k so he don’t bother to write and post u simple letter. (I wouldnt too lol)

No one needs to “get in to likes” of banks u mentioned. Im just amazed why u are so troubled by it

Actually what jetblack pointed out has a point. On the day i opened my acc, RM did ask me if I'm very conservative in my investment or willing to take risk. I replied I want to treat it like FD. Thereafter i didn't hear anything anymore. Luckily i still get my welcome pack. If that's a consolation.

There's nothing special with Premier status. Mayb one thing good is what vsvs ever shared. During CNY no need to join long long queue to change new notes

 

[cscs3]

Actually what jetblack pointed out has a point. On the day i opened my acc, RM did ask me if I'm very conservative in my investment or willing to take risk. I replied I want to treat it like FD. Thereafter i didn't hear anything anymore. Luckily i still get my welcome pack. If that's a consolation.

There's nothing special with Premier status. Mayb one thing good is what vsvs ever shared. During CNY no need to join long long queue to change new notes

Then you are low risk customer (risk rating less then 3). Basically no product can be sold to you except insurance. Been a RM, no meat for him/her.

 

[peppermint7]

Then you are low risk customer (risk rating less then 3). Basically no product can be sold to you except insurance. Been a RM, no meat for him/her.

No wonder my life so peaceful
No wind no rain

 

[cscs3]

No wonder my life so peaceful
No wind no rain

That's best. When RM call you, it means they want to sell you some product. I prefer they don't call.

 

[jetblack]

Exactly RMs are commission driven individuals. I told my dbs rm that i join purely for trading stocks he jitao kick me to some team 5 or something and i totally understand

If u constantly be carrot and let rm chop then of cos u will get all the cards, gifts, mooncakes, wine etc. Those are for ****** pple and they love it

Then you are low risk customer (risk rating less then 3). Basically no product can be sold to you except insurance. Been a RM, no meat for him/her.

 

[newjungle]

No wind no rain is the best, enjoy inner calmness.

 

[peppermint7]

No wind no rain is the best, enjoy inner calmness.

Also means I'm not a carrot