HSBC Premier CC Criteria

[yoloof]

Does everyone who holds an HSBC premier bank account qualify for the premier CC? Or there's a hidden salary/income criteria?

I can get HSBC premier bank account via the demat criteria but don't meet the salary requirement for the bank account. Will that also disqualify me for the CC as well?

 

[telescope]

You can keep your shares with them for maintaining TRV but cannot buy and sell rom hsbc account. You'll need another demat account for buying and selling once you decide to do so.

That means to sell, need to transfer from hsbc demat to other demat offline by filling forms? If yes, it's pain in the (you know what)

Which HNI in their sane mind will keep such high value holdings without the ability to buy/sell?

 

[yoloof]

You can keep your shares with them for maintaining TRV but cannot buy and sell rom hsbc account. You'll need another demat account for buying and selling once you decide to do so.

Premier CC is not that great for this much work. I'd like to keep one demat account for ease of access and it has to have online access.

 

[Ravimali]

It's TRB criteria of Rs 40 lakhs which means only FD and account balance is considered for Premier Account criteria.
Demat holding is not considered.Just today HSBC agent confirmed

 

[Kabir_1112]

Premier CC is not that great for this much work. I'd like to keep one demat account for ease of access and it has to have online access.

Easier to have Fd, mutual fund and sum of balance in savings account totaling 40 lakhs. This is what I've understood.

 

[Kabir_1112]

That means to sell, need to transfer from hsbc demat to other demat offline by filling forms? If yes, it's pain in the (you know what)

Which HNI in their sane mind will keep such high value holdings without the ability to buy/sell?

Totally, but then they are a bank they have many ways to Complete their targets with different product offering 😉😉and they know their ways around.

 

[telescope]

It's TRB criteria of Rs 40 lakhs which means only FD and account balance is considered for Premier Account criteria.
Demat holding is not considered.Just today HSBC agent confirmed

Tell agent, "no ullu banaoing"

 

[Anuranan]

That means to sell, need to transfer from hsbc demat to other demat offline by filling forms? If yes, it's pain in the (you know what)

Which HNI in their sane mind will keep such high value holdings without the ability to buy/sell?

The other demat is needed but probably the transfer should be possible online via NSDL SPEED-E facility. Offline branch visit should not be necessary for transferring.
https://www.hsbc.co.in/content/dam/...ious-investor-centric-initiatives-by-nsdl.pdf



https://www.hsbc.co.in/content/dam/hsbc/in/documents/demat/demat-account-opening-process.pdf

 

[telescope]

The other demat is needed but probably the transfer should be possible online via NSDL SPEED-E facility. Offline branch visit should not be necessary for transferring.
https://www.hsbc.co.in/content/dam/...ious-investor-centric-initiatives-by-nsdl.pdf

View attachment 109276

https://www.hsbc.co.in/content/dam/hsbc/in/documents/demat/demat-account-opening-process.pdf

View attachment 109277

Yes but depository participant (hsbc) should allow speed-e, otherwise not possible.

 

[Wealth is my birth right!]

Yes but depository participant (hsbc) should allow speed-e, otherwise not possible.

HSBC can’t participate since they are not having trading license in India
Years back in 2009 I had a trading account with HSBC Investdirect Securities and I gave a lot of trading business to them and after a couple of years they went out of business and they transferred my demat holdings to ILFS Investment leasing and financial services saying that hsbc sold out the securities business to ilfs then I moved out of ilfs and went kotak
Those are the days when zerodha kind of things not exist
So from there hsbc can’t offer trading solutions

 

[Anuranan]

Yes but depository participant (hsbc) should allow speed-e, otherwise not possible.

Oh , their websites could be out of date ?
Like for using their demat as vault-only basis.
Nsdl does list them as speed-e enabled DP.
https://nsdl.co.in/speed-e.php

 

[aayusharyan]

Oh , their websites could be out of date ?
Like for using their demat as vault-only basis.
Nsdl does list them as speed-e enabled DP.
https://nsdl.co.in/speed-e.php
View attachment 109279

Someone needs to go to branch and clear things up for all of us here.

 

[quino]

Nsdl does list them as speed-e enabled DP.

i don't think nsdl continues to do such a blunder after years.