Premier/Premium bank accounts Any advantages?

Erictheviking

Does anyone use the premium accounts from Lloyds Barclays HSBC ? Are they any better for service ? Is Handlesbanken any good?

Zellah

Surely that depends on whether you find the add-ons useful and are worth the extra fee, N'est-ce pas?

London7766551

I tried to open an account with Handkesbanken (London) once, very stuck up. Avoid if you sound common it is not worth trying to jump through the hoops the snobs have set up.

whitesmith

sounds like a visit from !!!!!! the Great would be in order ...

Publius

London7766551 said:

I tried to open an account with Handkesbanken (London) once, very stuck up. Avoid if you sound common it is not worth trying to jump through the hoops the snobs have set up.

I've had accounts with HSBC Premier. Only real perk is that their call centre is british, low wait times even during covid and the staff answering the phone generally go out of their way to be helpful. However it's still very much a computer-says-no affair so only goes so far.

I've since moved to Handelsbanken. They get a pretty bad rap online with comments like this. They aren't for everyone - They will ask you how much you earn and depending on the branch they may or may not want you as a customer - this doesn't bother me. Their staff are empowered to look at the greater picture and deal with the customer as an individual which really appeals to me (I work in software and it depresses me how systems are considered infallible with no appeal).

Personally I like the arrangement - I pay bank fees (£180/yr) and I have a named bank manager which isn't a gimmick - I really can and do call them in the first instance instead of a call centre. They don't do credit cards only charge cards so I have credit card elsewhere (suits me as I prefer Amex). They are a very safe bank - one of the strongest rated in all of Europe. They are proudly "old school" so you wont get fancy computer systems or apps (definitely no google/apple Pay) but then I don't need that (Amex).

Barclays Premier was a total waste of time - I tried signing up and they wouldn't let me move from HSBC Premier as I had a dormant barclays account. They are totally useless and I would never trust them with my money.

London7766551

Publius said:

London7766551 said:

I tried to open an account with Handkesbanken (London) once, very stuck up. Avoid if you sound common it is not worth trying to jump through the hoops the snobs have set up.

I've had accounts with HSBC Premier. Only real perk is that their call centre is british, low wait times even during covid and the staff answering the phone generally go out of their way to be helpful. However it's still very much a computer-says-no affair so only goes so far.

I've since moved to Handelsbanken. They get a pretty bad rap online with comments like this. They aren't for everyone - They will ask you how much you earn and depending on the branch they may or may not want you as a customer - this doesn't bother me. Their staff are empowered to look at the greater picture and deal with the customer as an individual which really appeals to me (I work in software and it depresses me how systems are considered infallible with no appeal).

Personally I like the arrangement - I pay bank fees (£180/yr) and I have a named bank manager which isn't a gimmick - I really can and do call them in the first instance instead of a call centre. They don't do credit cards only charge cards so I have credit card elsewhere (suits me as I prefer Amex). They are a very safe bank - one of the strongest rated in all of Europe. They are proudly "old school" so you wont get fancy computer systems or apps (definitely no google/apple Pay) but then I don't need that (Amex).

Barclays Premier was a total waste of time - I tried signing up and they wouldn't let me move from HSBC Premier as I had a dormant barclays account. They are totally useless and I would never trust them with my money.

I can only speak of my personal experience with Handelsbanken. They showed a lack of respect. I call several times about getting an account, they were obsessed with telling me the change per month for the account (I think it was about £25). Then they asked where I worked and commented that they had never heard of the place. Wrong attitude in my book. And when this did not deter me they just sent me in circles. Telling me someone would ring, and that they would send confirmation of an appointment. It never happened. If they didn't want me as a customer they should have just said we are unable to provide you with services, they didn't need to be snobs. In addition I hear the branches outside London are far more friendly. Perhaps one day I will try again. It's a shame because I did hear good things about them, and now earn far more than I did at the time of application, but they didn't want to bother. 

blue.peter

Publius said:

I've had accounts with HSBC Premier. Only real perk is that their call centre is british, low wait times even during covid and the staff answering the phone generally go out of their way to be helpful. However it's still very much a computer-says-no affair so only goes so far.

No need for HSBC Premier for that. Anyone can get that much from First Direct.

Speedbird676

I was looking for a replacement for my American Express Platinum card when they increased the annual fee from £450 to £575. The two main perks of the Amex I used were travel insurance and airport lounges, so the HSBC Premier product worked for me as the Premier current account (no fee) offers travel insurance and the Premier World Elite credit card (£195 annual fee) offers airport lounges.

Both have proven to be completely irrelevant this year.

As somebody has already said it depends what value you will get from the perks of each account. HSBC Premier works for me, but may not for somebody else.

The_Urbanite

If you're into collecting air miles then the HSBC Premier account is good to have.

trient

Here's what I see -

• HSBC: £500 interest free overdraft, 0.33% cashback as supermarket vouchers (or miles), free travel insurance and Boingo wifi with the free credit card + additional benefits with paid CC
• Barclays: free English Heritage, 5.5 income mortgages, premier rewards, £500 overdraft, black debit card
• NatWest/RBS: £5/month back vs a regular reward account

Not considering features you can get with regular accounts (like Barclays Rewards, or the 0.25%/1% cashback for NatWest/RBS CC etc.) or some other less important benefits like ATM limits.
Barclays and NatWest/RBS also give you a personal relationship manager, though the value is questionable (they will try to upsell you other products but won't necessarily be of real help when you actually have a problem - speaking from experience with both).  I'm also struggling to see the value in Barclays Premier these days, after they shut down most of their benefits.
IMHO based on the above HSBC comes on top, but again YMMV.

ratechaser

Speedbird676 said:

I was looking for a replacement for my American Express Platinum card when they increased the annual fee from £450 to £575. The two main perks of the Amex I used were travel insurance and airport lounges, so the HSBC Premier product worked for me as the Premier current account (no fee) offers travel insurance and the Premier World Elite credit card (£195 annual fee) offers airport lounges.

Both have proven to be completely irrelevant this year.

As somebody has already said it depends what value you will get from the perks of each account. HSBC Premier works for me, but may not for somebody else.

Leaving aside the paucity of travel this year, one benefit of Amex platinum was that it basically gave 4 people unlimited lounge access. So for frequent family holiday travellers, especially those without any elite airline status, it could pay for itself just with that benefit alone.

There was a lot of disgruntlement when the fee went up from £450 - and to be fair it was a chunky hike - but I think that point about airline status could increase its popularity in the mid term. A lot of business travellers that are losing their status and lounge privileges right now through lack of travel (myself included, as of next October...) may find it useful to have, even if only for a year or two until some level of normality resumes...

Yes, some of those contract lounges are a bit basic, but let's call it like it is, still better than being out there with the masses in the main departure lounge