Is HSBC Premier worth it?

PROLIANT

Special accounts? Does that mean because my HBOS account is held in the Bank of Scotland private account sorting code that I am rich? Naaa, I wish.

gt94sss2

skyjumper wrote: »

of course, the free Family travel insurance and the chance to open the 10% Regular saver with them -for PLUS customers it's 8%

Everyone who can get a Regular Saver with HSBC gets 10% - including Plus account holders.

The 8% rate is limited to the Current Account Advance accounts..

Question is, is it worth upgrading to Premier, just to get the extra 2% on the Regular Saver..!

Regards
Sunil

ShelfStacker_3

Mr_K wrote: »

As already said I've never heard from the relationship manager since I opened the account. This may be because I've opted out of marketing, but if thats all this manager does, I think you'll find they'll flog their products to you in each branch for free !

The RM isn't just a sales thing - the RM can approve lending for you, and deal with any queries you have about your accounts, how best to invest your money, what you could do with HSBC etc.

Premier customers have the advantage that they're relationship managed by a specific individual, who you can call at a random time of day should you so desire to speak with them directly, and conversely who can be called for guidance or support on what to do with a specific customers transactions, for instance honouring cheques - all other customers get managed centrally, i.e. approval for lending and everything else is done by centralised, near anonymous teams.

moneysavingallday

ShelfStacker wrote: »

The RM isn't just a sales thing - the RM can approve lending for you, and deal with any queries you have about your accounts, how best to invest your money, what you could do with HSBC etc.

Premier customers have the advantage that they're relationship managed by a specific individual, who you can call at a random time of day should you so desire to speak with them directly, and conversely who can be called for guidance or support on what to do with a specific customers transactions, for instance honouring cheques - all other customers get managed centrally, i.e. approval for lending and everything else is done by centralised, near anonymous teams.

That does sound pretty bleedin good

ShelfStacker_3

moneysavingallday wrote: »

That does sound pretty bleedin good

Yes. It's more a wealth management thing, for people who need to keep track of all their banking more personally as they're presumed to have more complex needs. If you just have £50k and you want to invest it in HSBC just to get the Premier service, you might not find it as useful.

EDIT: Also worth mentioning that unless you've been downgraded as a result of no longer meeting the criteria, the criteria for Premier are totally set. You definitely can't just pay to be upgraded.

moneysavingallday

ShelfStacker wrote: »

Yes. It's more a wealth management thing, for people who need to keep track of all their banking more personally as they're presumed to have more complex needs. If you just have £50k and you want to invest it in HSBC just to get the Premier service, you might not find it as useful.
.

If they can offer me a competitive return on my £50+k, I see no reason not to try investing it with them.

Mr_K

moneysavingallday wrote: »

If they can offer me a competitive return on my £50+k, I see no reason not to try investing it with them.

You're not going to make a fortune out of their pathetic interest rates at the moment, thats why my 50k been moved elsewhere
http://www.hsbc.co.uk/1/2/interest-rates/savings-investments;jsessionid=0000utfF7NVZZzk66qzta7xvjIA:12ntf1ep0

eg. HSBC Premier Savings* 1.65% gross for £50k (whoopee !)

(*only for privileged Premier customers mind you )

Mr_K

ShelfStacker wrote: »

Premier customers have the advantage that they're relationship managed by a specific individual, who you can call at a random time of day should you so desire to speak with them directly,

Think I'm going to try this out. I'm going to give my 'Relationship Manager' a ring at about 3:23am tomorrow morning as I'm worried about paying my paper bill...

PROLIANT

Mr_K wrote: »

Think I'm going to try this out. I'm going to give my 'Relationship Manager' a ring at about 3:23am tomorrow morning as I'm worried about paying my paper bill...

Lol, are you paking the tiss old boy? :money:

97trophy

ShelfStacker wrote: »

Premier customers have the advantage that they're relationship managed by a specific individual, who you can call at a random time of day should you so desire to speak with them directly,

My UK RM has refused to give out her direct phone number - claiming that is current HSBC policy. I can e-mail her direct and ask her to phone me at a specific time. Other then that I have been told to phone the general hsbc number.

I do have the number for my overseas RM.