any views on hsbc premier account

[Gkcards]

can people share there experience on hsbc premier bank account

 

[Subhankar]

@jay tagged the one who is having HSBC Premier account

 

[rj_arora]

@jay tagged the one who is having HSBC Premier account

@jay Sir?

 

[gauravraj]

can people share there experience on hsbc premier bank account

HSBC is not very active in terms of banking in India.

 

[rj_arora]

HSBC is not very active in terms of banking in India.

HSBC is not very active in terms of banking in India.

My uncle's current account is ICICI salary wealth management account. His plan is to open HSBC premier salary account, get premier CC and move his salary from HSBC to ICICI after it is credited. If he does so, will it have any effect on his ICICI salary wealth management account? Currently it's LTF 0 balance account

 

[gauravraj]

My uncle's current account is ICICI salary wealth management account. His plan is to open HSBC premier salary account, get premier CC and move his salary from HSBC to ICICI after it is credited. If he does so, will it have any effect on his ICICI salary wealth management account? Currently it's LTF 0 balance account

It had no effect, if salary gets credited.

 

[rj_arora]

It had no effect, if salary gets credited.

No no, let me rephrase -
My uncle's current account is ICICI salary wealth management account. His plan is to open HSBC premier salary account, get premier CC and get his credited to HSBC. Then, manually transfer salary from HSBC to ICICI after it is credited to HSBC. If he does so, will it have any effect on his ICICI salary wealth management account? Currently it's LTF 0 balance account

 

[caabhi]

can people share there experience on hsbc premier bank account

Depends on what you intend to do with it. They have reduced number of branches thus if you need to visit branch it is a hassle. Good news is most of the stuff can be done online.
Their customer support is not great, refined but not up to the mark. You get HSBC Premier CC LTF, but does not have attractive rewards, so kind of a miss there.
It all depends on what you want to do with them, but all in all I would not recommend.

PS:- I hold Premier account since last 7 years or so

 

[gauravraj]

No no, let me rephrase -
My uncle's current account is ICICI salary wealth management account. His plan is to open HSBC premier salary account, get premier CC and get his credited to HSBC. Then, manually transfer salary from HSBC to ICICI after it is credited to HSBC. If he does so, will it have any effect on his ICICI salary wealth management account? Currently it's LTF 0 balance account

Salary accounts are generally zero MAB but if yours uncle's hold a LTF 0 Bal. it has no effect.

But if it normal zero MAB salary account , it converted to saving account with MAB if salary not credited for a period of time.

 

[ashishsinghi]

Depends on what you intend to do with it. They have reduced number of branches thus if you need to visit branch it is a hassle. Good news is most of the stuff can be done online.
Their customer support is not great, refined but not up to the mark. You get HSBC Premier CC LTF, but does not have attractive rewards, so kind of a miss there.
It all depends on what you want to do with them, but all in all I would not recommend.

PS:- I hold Premier account since last 7 years or so

do we get HSBC premier credit card HDFC with HSBC saving account?? will hsbc premier credit card be active even if we close our saving account?

 

[caabhi]

do we get HSBC premier credit card HDFC with HSBC saving account?? will hsbc premier credit card be active even if we close our saving account?

You can get Premier cc as ltf only uptill you are meeting premier criteria of hsbc.

 

[ashishsinghi]

You can get Premier cc as ltf only uptill you are meeting premier criteria of hsbc.

So it will get close if i close my saving account?

 

[caabhi]

So it will get close if i close my saving account?

Yes, I believe so.I haven't tried it. But terms suggest it is LTF for premier. So once you stop being a premier customer it will not be continued. Not sure how it is tracked though. But i assume they would be checking status at each renewal.

 

[ashishsinghi]

Yes, I believe so.I haven't tried it. But terms suggest it is LTF for premier. So once you stop being a premier customer it will not be continued. Not sure how it is tracked though. But i assume they would be checking status at each renewal.

So will they run any kind of cibil check or deman any kind of slary slip or they will just issue ltf priemer cc?

 

[caabhi]

So will they run any kind of cibil check or deman any kind of slary slip or they will just issue ltf priemer cc?

Check that you meet at least one of the following criteria for Premier:

Maintain a quarterly Total Relationship Balance1 (TRB) of INR4,000,000 (Rupees forty lakh only); or
Have a mortgage2 relationship with disbursal of INR11,500,000 (Rupees one crore fifteen lakh only) or more, with HSBC India; or
Hold a corporate salary account under the HSBC Corporate Employee Programme (CEP)3 in India with a net monthly salary credit of INR300,000 (Rupees three lakh only) or more into the account.


If you meet any of above, you will qualify for premier banking and will get premier cc. They do ask for salary slips though

 

[rj_arora]

Salary accounts are generally zero MAB but if yours uncle's hold a LTF 0 Bal. it has no effect.

But if it normal zero MAB salary account , it converted to saving account with MAB if salary not credited for a period of time.

He has salary account, it is zero balance due to that

 

[rj_arora]

Check that you meet at least one of the following criteria for Premier:

Maintain a quarterly Total Relationship Balance1 (TRB) of INR4,000,000 (Rupees forty lakh only); or
Have a mortgage2 relationship with disbursal of INR11,500,000 (Rupees one crore fifteen lakh only) or more, with HSBC India; or
Hold a corporate salary account under the HSBC Corporate Employee Programme (CEP)3 in India with a net monthly salary credit of INR300,000 (Rupees three lakh only) or more into the account.


If you meet any of above, you will qualify for premier banking and will get premier cc. They do ask for salary slips though

He asked what if he closed his account after getting cc

 

[gauravraj]

He asked what if he closed his account after getting cc

Nothing will happen 👍

 

[rj_arora]

Nothing will happen 👍

So HSBC premier CC will not be closed and will remain LTF, even if premier account is closed?

 

[gauravraj]

So HSBC premier CC will not be closed and will remain LTF, even if premier account is closed?

Yes