Is HSBC Premier worth it?

michaels

Mr_K wrote: »

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 )

Strange they have cut their savings rate so far when they have barely reduced their mortgage svr - then again it is hsbc so customer loyalty is not a strong point

Oblivion

Having had over £50k in savings with HSBC for many years, I automatically qualify for Premier.

I have to say that my Premier Relationship Manager (a delightful woman) has been of immense help to me on several occasions. She played a useful role for several years in helping me set up, manage, and pay out from some trust funds for my late sister's children when they came of age.

When I experienced an embarrassing refusal by the Indian call centre to authorise a cash payment for a car using my debit card, she quietly and efficiently sorted it all out for me in no time at all, and gave me a £100 compensation for the trouble I'd experienced with the call centre.

It's just really nice knowing that she's available if ever I need help, and a lovely English rose accent to deal with as well, rather than an unintelligible anonymous call centre wallah.

Dave.

moneysavingallday

Oblivion wrote: »

Having had over £50k in savings with HSBC for many years, I automatically qualify for Premier.

I have to say that my Premier Relationship Manager (a delightful woman) has been of immense help to me on several occasions. She played a useful role for several years in helping me set up, manage, and pay out from some trust funds for my late sister's children when they came of age.

When I experienced an embarrassing refusal by the Indian call centre to authorise a cash payment for a car using my debit card, she quietly and efficiently sorted it all out for me in no time at all, and gave me a £100 compensation for the trouble I'd experienced with the call centre.

It's just really nice knowing that she's available if ever I need help, and a lovely English rose accent to deal with as well, rather than an unintelligible anonymous call centre wallah.

Dave.

A tad racist

Oblivion

moneysavingallday wrote: »

A tad racist

Yes, that'll be me.

Dave.

moneysavingallday

How gross.

Oblivion

moneysavingallday wrote: »

How gross.

144 ????? I think you'll find the correct answer is 42.

Dave.

tinakori

Does anyone know if the HSBC premier criteria have been recently changed? I have been a Premier member for several years but just yesterday received a letter saying that I no longer qualify. I meet the earning criteria but they say it's now, 50k deposited OR mortgage over 250k with HSBC AND meet earning criteria. I've never had a mortgage with them nor that much savings with them but suddenly now this means I don't qualify.
The letter was carefully worded so as not to reveal that the criteria had changed but I am sure that they have reserved the right to change them in various documents. But just wondered if anyone out there has any thoughts or intell?!!

Thanks

Stang

HSBC told me by telephone I did not qualify when I moved a lot of savings from my personal account. So I told them fine and as my company banks with HSBC, my factoring company is HSBC my company Euro account is with HSBC, my company merchant services is with HSBC, my car is with HSBC Vehicle Finance, I have some life Insurance with HSBC my mortgage is with HSBC, my ISA is with HSBC and my wife banks with First Direct (bit of pattern developing here) I told the young chap that HSBC no longer qualifies for my custom and I will transfer all this to an alternative organisation as soon as I can. (He said that was my choice!! so I wrote to my RM with a copy to head office asking if they wanted to hear the voice recordings of their representative?) and guess what? I got two apologies, taken out to lunch by my RM and I am still a Premier Customer with all correspondence/calls in future to come only via my RM .
:T

Apparently their marketing department were just looking at the savings accounts which I transferred. I told them they could have them back as soon as their rates improved in the market.
:beer:

PremierFella_2

tinakori wrote: »

Does anyone know if the HSBC premier criteria have been recently changed? I have been a Premier member for several years but just yesterday received a letter saying that I no longer qualify. I meet the earning criteria but they say it's now, 50k deposited OR mortgage over 250k with HSBC AND meet earning criteria. I've never had a mortgage with them nor that much savings with them but suddenly now this means I don't qualify.
The letter was carefully worded so as not to reveal that the criteria had changed but I am sure that they have reserved the right to change them in various documents. But just wondered if anyone out there has any thoughts or intell?!!

Thanks

Criteria changed 1NOV07 (but they probably only check you are meeting the requirement once every year, hence why you are only now getting a letter).

(I know this does not apply to you but) the earning criteria only applies in conjunction with the over £250k mortgage requirement - if you have over £50k in savings you do not need to have a salary in excess of £75k (and given the savings rates the easiest way IMO to meet the £50k savings requirement is to hold a share or share ISA portfolio with HSBC).

moneysavingallday

Yeah it is annoying. I qualify on salary but don't have a mortgage with them and don't keep (or want to keep) substantial savings wtih them