HSBC premier eligibility - why does it vary so much?

jinkster

Why does the criteria for hsbc premier vary so much worldwide? In the UK you need a salary of £100k, in France you only need to deposit €4500 and here in Qatar you need to keep around £70,000 equivalent in the account.

If you qualify in one country, you qualify worldwide so why does it vary so much.

10pence

Correct eligibility criteria for UK;

1) Have savings or investments of at least £50,000 with HSBC in the UK; or
2) have an individual annual income of at least £100,000 and one of the following products with HSBC in the UK:
- a mortgage;
- an investment, life insurance or protection product;
Or, qualify for HSBC Premier in another country.

When I use to work for HSBC we used to see loads of ppl that had Turkey based premier account as they only needed the equivalent of £30k in savings. Because of the this they got UK based Premier. This costs the bank a small fortune due to the services, features and running costs (for bank) the account offers.

They do an expat service where you only need £60k or equivalent to get the Premier service.

jinkster

The salary, is £100k pre tax or after tax?

chazzee

Pre-tax earnings

jinkster

So if you don't pay tax (due to working abroad) and fund the account with £7000/month you don't qualify. Sorry HSBC.....you didn't get my business!.

TheEffect

Will they keep the eligibility criteria from others countries (i.e. if you're a Premier customer in Turkey, you can have a UK premier account) once they have been renamed/rebranded as HSBC UK?

zerog

TheEffect wrote: »

Will they keep the eligibility criteria from others countries (i.e. if you're a Premier customer in Turkey, you can have a UK premier account) once they have been renamed/rebranded as HSBC UK?

I suspect anybody who actually knows is not allowed to reveal this information.

I don't think anything will change just because their headquarters leaves the UK. They can change the criteria for new accounts at any time for commercial reasons.

redmalc

HSBC premier criteria is a joke,we have withdrawn all of our savings in the past three years and now just my salary gets paid in 80K
A letter came this morning advising they are halving the value of the Premier rewards point programme in January 2016 which will cost us £300 per year because we spend a fortune on the credit card each month,but we always pay it when due

darkidoe

redmalc wrote: »

HSBC premier criteria is a joke,we have withdrawn all of our savings in the past three years and now just my salary gets paid in 80K
A letter came this morning advising they are halving the value of the Premier rewards point programme in January 2016 which will cost us £300 per year because we spend a fortune on the credit card each month,but we always pay it when due

Does that apply to all premier credit card customers? I always wanted the HSBC Premier CC for their rewards programme for airline miles but the high threshold and low returns for savings are too much of a hurdle for me to take. Now if they are trimming the benefits of the card, doesn't seem like a deal at all anymore.

redmalc

I think it applys for all Premier Account customers from what i can see,i have been to Santander to sort out a new account but the problem is the 20 K per month limit on the credit card i get

darkidoe

redmalc wrote: »

I think it applys for all Premier Account customers from what i can see,i have been to Santander to sort out a new account but the problem is the 20 K per month limit on the credit card i get

Why is the £20k credit limit a problem? That's one of the largest credit limit I have ever heard of.