HSBC has created the first truly global personal banking service for the world’s 200 million mass affluent1 and internationally mobile consumers. Rolled out simultaneously across 35 countries and territories2, HSBC Premier is the most comprehensive global banking and wealth management service ever devised.
As globalization transforms business, it is also transforming consumers as evidenced in a recent survey conducted by MSI International for HSBC Premier. According to the survey, 51 percent of mass affluent Americans have considered living or taking an extended vacation abroad. When those surveyed were asked what they see as the biggest challenges to living abroad, 45 percent said “setting up my finances.”
“The number of mass affluent consumers in the world today is growing rapidly and these customers are highly mobile, sophisticated and knowledgeable,” said Kevin Newman, Senior Executive Vice President, Personal Financial Services, HSBC Bank USA, N.A. “With operations in 83 markets, HSBC is the only bank in the world that could provide them with the seamless international service they need.”
In breaking down international barriers, HSBC Premier addresses consumer challenges by offering seamless cross-border banking and providing customers the ability - for the first time - to take their accounts, credit history and banking relationships with them wherever they choose to live and work.
Premier customers have access to 250 international Premier Centers, cited in major cities around the world, and more than 6,000 branches with Premier service points. Each location will have access to all the information needed to serve customers and provide local advisory services.
In the MSI survey, when affluent Americans were asked about the financial challenges they would expect to face when living abroad:
- 67 percent chose “encountering language barriers”
- 54 percent believed they’d be “paying large fees when transferring money from one country to another”
- 45 percent listed “access to an emergency phone number 24/7 to speak with a live representative” as the service they think is the most important when dealing with a financial problem in a foreign country
“The survey findings indicate that while Americans are open and excited about traveling or living abroad, some are still apprehensive about managing their finances when doing so,” said Nancy Armand, Premier Segment Head, HSBC Premier. “Premier is the only global banking service that breaks down banking barriers allowing individuals to bank wherever they are.”
To support Premier customers, HSBC has built a Global Training Academy, providing over 5,000 HSBC Premier Relationship Managers around the world, plus another 3,000 support staff with the necessary training and accreditation so that they are fully ready to provide the new services from day one.
The new global Premier service brings with it a host of enhanced services, which include:
- One globally accessible number 1-908-PREMIER for emergency assistance
- Access to a relationship manager who provides dedicated 1-on-1 service
- Ability to pre-open overseas accounts in home country and transfer credit history
- A single view of all accounts held with HSBC globally via the Internet that provides the ability to manage all accounts, whichever country they are in, through a single website
- Free fund transfers between accounts via online service made easier, wherever they are based, starting in November
- A credit card offering exclusive deals from 6,000 merchant in 40 countries with no foreign transaction fees on purchases made in a foreign currency
- Access to banking services and lounge facilities across 35 countries and territories
- Pre-approved mortgages (up to 60 per cent Loan-To-Value) on up to three properties, home or abroad
- Wealth Management services with consistent market information for retail investors, access to choice of HSBC /Multi-managed funds, local expertise and markets and a quarterly Best House Premier Fund
- Equal status across the Premier network with local minimum requirements waived
MSI International conducted a survey from August 23, 2007 to August 27, 2007 among an online panel of consumers with $100,000 or more in investable assets. Results are presented on total respondents within a sample size of 1,006 individuals. The data is not weighted.
Note to editors:
(1) HSBC defines mass affluent as those consumers with liquid assets of between US$100,000 and US$2million
(2) Countries included in the roll-out of HSBC Premier are: UK, USA, Canada, Mexico, Brazil, Hong Kong, UAE, Argentina, Australia, Bahrain, Bermuda, Brunei, China, Egypt, India, Indonesia, Jersey, Jordan, Lebanon, Malaysia, Malta, Oman, Panama, Philippines, Qatar, Saudi Arabia, Singapore, Sri Lanka, Taiwan and Thailand
HSBC Holdings plc
HSBC Holdings plc serves over 125 million customers worldwide through around 10,000 offices in 83 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of some US$2,150 billion at 30 June 2007, HSBC is one of the world’s largest banking and financial services organisations. HSBC is marketed worldwide as ‘the world’s local bank.’
HSBC Premier is the world’s most comprehensive financial management service offering a range of banking, investment and financing solutions to clients whose investable income exceeds $100K. HSBC Premier provides international recognition and support, international services, credit card rewards and protection around the world, and financial planning and wealth management through a single Premier Relationship Manager. With Premier Centers in 35 countries and territories, HSBC Premier gives open-minded, future-focused clients a banking experience free of geographical and bureaucratic limitations.
Within the United States, HSBC Premier Centers can be found in Los Angeles, Miami, New York City, San Francisco, Washington D.C., Westport, Conn., and White Plains, NY. Additionally, there are 250 Premier Centers worldwide. For more information visit www.HSBCPREMIERUSA.com
Francine Minadeo, 212-525-8737
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