It is expected other local banks will follow its move. There are two types of Savings Account with the bank which are mentioned below each with complete details. Minimum balance eligibility criteria is waived for HSBC Savings account under Personal Banking. These accounts come with various features and value-added benefits. HSBC’s personal integrated account users currently have to pay a monthly fee of HK$60 if their average total balance is below HK$5,000 over a period of three months. HSBC: A premium current account is offered by HSBC called ‘Premier Account’. Minimum deposit of SGD5,000 to open an account. $75,000 minimum balance in deposit and/or investment * balances OR recurring direct deposits 2 totaling at least $5,000 per month OR An HSBC U.S. residential … Minimum monthly salary of RM3,000 with a HSBC/HSBC Amanah Credit Card 2 or minimum monthly salary … You won’t be charged for those transactions, all the charges for those transactions will be paid by the bank. bonus interest rate, capped at the following average daily balance. By browsing our website, you consent to our use of cookies and other tracking technologies. The HKMA has granted eight virtual banking licences since March, including two joint ventures separately led by HSBC’s competitors – the Bank of China (Hong Kong) and Standard Chartered Bank. Some salary account can have Joint account holders. If you close your account before the end of the 12 month term, you will receive interest at our Flexible Saver rate. I worked for HSBC for 6 years, during the timeframe really I didn't see difference in the interest rates for savings account/Fixed deposit whether you hold it as a salary account or normal bank account. We're here to help. Please see the Schedule of Charges here. No interest is payable if the balance falls below the minimum account opening balance Eligibility If you’re new to HSBC Expat, you’ll need to hold a minimum GBP 50,000 or currency equivalent in deposits and investments with us or have a sole minimum salary of GBP 100,000 or currency equivalent. And HSBC’s advance integrated account holders need to pay HK$120 a month if they have a three-month average balance of less than HK$200,000. Key benefits include: By continuing to browse this site, you give consent for cookies to be used. You can withdraw any no. Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Questions about how the coronavirus is affecting your finances or our services? HSBC offers savings accounts to its customers to meet their everyday banking needs. You must maintain a minimum monthly average balance in deposits and/or investments of EGP 10,000, USD 2,000 or a minimum gross monthly salary of EGP 5,000. International Bank of Qatar - Super Savings Account Minimum Balance: QAR 50,000 Internet Banking: No HDFC Bank Savings Account Minimum Balance: For regular savings accounts held in HDFC Bank's metro and urban branches, the customer is required to maintain an average monthly balance … The average monthly balance is a combination of savings account, current account and fixed deposit balances. HSBC Premier eligibility criteria Maintain a balance of OMR 35,000 in deposits and/or investments, or Salary transfer of OMR 4,000 or above for the first 12 months after which point (1) applies 1 To avail of CEP with HSBC, a minimum of 10 employee accounts are required to be maintained by the Corporate along with formal acceptance of the terms associated with the Corporate Employee Programme. The minimum balance requirement is unreasonable to the average consumer; Once you qualify, you have to keep $75,000 in the account to avoid the fee OR make a direct deposit of at least $5,000 per month HSBC has announced it will remove minimum balance requirements and fees for personal accounts from 1 August. You’ll need to maintain a minimum balance of GBP 10,000 currency equivalent. What's more, your debit card can also be used as a public transit card. With Singapore dollar time deposits, you can earn higher interest rates than an ordinary savings account. We use cookies to give you the best possible experience on our website. You must meet the following requirements to be eligible: Singapore Citizens or Permanent Residents: You can also call your Relationship Manager directly, or contact us through our telephone banking hotline at: If you are overseas, please call (65) 6-HSBC-NOW (4722 669). A minimum of RM20 is required to be maintained in the account at all times; No service charge or maintenance fee; Member of Perbadanan Insurans Deposit Malaysia Protected by Perbadanan Insurans Deposit Malaysia up to RM250,000 for each depositor *. minimum monthly average balance of BHD 20 to be maintained Time Deposits may also be opened by parent (s) for a minor (s) a monthly service charge of BHD 1 will be charged if the above minimum average balance is not maintained 6 Twitter features that enabled Filipinos to join conversations on 2020, Pauline Lopez among top taekwondo jins tapped in Hasbro-World Taekwondo Federation partnership, #AsiaeCommerceAwards spills: How NTUC Enterprise is packing a punch in the grocery space, Friso Singapore takes a dump on marketing clutter with 'poop' talk, #AsiaeCommerceAwards spills: The whitespace that DKSH is eyeing, #AsiaeCommerceAwards spills: What customers expect from the rebranded GOGOVAN, #MarketingExcellenceAwards spills: Construct Digital builds plans to ready for post-pandemic era. Salary account holders receive additional benefits like easy loan approval, credit cards, etc. Designed to cater to your digital lifestyle, the HSBC eFlexi Account lets your salary go further and gives you full flexibility to perform banking transactions without visiting the branch. Salary accounts also make the payment of utility bills easy and convenient. On … It said on Wednesday it will be the first bank in Hong Kong to provide free basic banking services to customers who hold its passbook accounts, statement accounts, personal and advance integrated accounts, and super ease accounts. Check eligibility and how to apply Check eligibility and how to apply for HSBC eFlexi Account Salary Credit Bonus Interest Simply credit a monthly salary of minimum SGD2,000 from your employer into your eFlexi account through GIRO, and enjoy 0.80% p.a. Click here for more details. Answered May 3, 2018 If you are employed in HSBC and you hold HSBC salary account then It’s a zero balance account. HSBC has announced it will remove minimum balance requirements and fees for personal accounts from 1 August. HSBC Advance allows you to gradually build to that minimum balance by crediting your salary of at least S$3,500 over a 24-month grace period. HSBC Premier Account Min salary-15000 AED onwards Min Balance-100000 AED onwards Benefits Apply online for Premier Account Experience a world of convenience with Visa payWave, NETS contactless and Apple Pay payment capabilities on your HSBC Debit Card. Check eligibility and how to apply for HSBC eFlexi Account, Contact me to apply for HSBC eFlexi Account This link will open in a new window, Important things to note about account opening (PDF), Important things to note about account opening (PDF) Download, Download the account opening form (PDF) Download, Terms and conditions governing personal deposit accounts apply (PDF), Terms and conditions governing personal deposit accounts apply (PDF) Download, With effect from 1 April 2010, your liability prior to debit card loss reporting will be capped at S$100 provided that you have not acted fraudulently, negligently or failed to report the card loss immediately. If you’re new to HSBC Expat, you’ll need to hold a minimum GBP 50,000 or currency equivalent across your HSBC Expat accounts and investments or have a sole minimum salary of GBP 100,000 currency equivalent. Three million customers in Hong Kong are expected to benefit from the new move. If the amount is to be credited in another currency to an HSBC account, the prevailing exchange rate will apply Maintain an Average Quarterly Balance (AQB) of INR150,000 or more in a combination of savings account, current account and fixed deposit balances, or Hold a Corporate Salary Account under the Corporate Employee Programme (CEP) with monthly salary credits into this account 5 , or Three million customers in Hong … 2 The minimum deposit and the HSBC Online banking registration must be completed within 30 days of Chequing account opening. To be eligible, you need to maintain minimum total relationship balance 1 of HKD 7,800,000 or more. Every feature that HSBC can offer in a checking account; Cons. * Click here for more details on PIDM protection. Click, Find your nearest Branch and ATM location, Careers, media, investor and corporate information, No minimum balance fee and monthly service fee, Closure fee applies if account is closed within 6 months from opening date, Transaction fee applies for over the counter transactions at HSBC branches, Individuals (residents/non-residents) aged 18 and above, Proof of Residential Address only where Residential Address does not match the address on the NRIC. Salary accounts have very low or no requirements for minimum balance. Bonus Interest Rate when you credit your salary, No minimum balance required and no monthly service charge for your account, All-in-One debit card and convenience of eStatement, Internet and mobile banking services allow you to perform transactions electronically anywhere in the world. Once the account is open, no withdrawals are allowed within 12 months. HSBC abolishes fees and charges on some of its most popular accounts, making it the first bank in Hong Kong to provide free basic banking services. 10,000. For inquiries or complaints, please call HSBC's Customer Service at (02) 8858-0000 from Metro Manila, +1-800-1-888-8555 PLDT domestic toll-free, (02)7976-8000 from overseas, (International Access Code) + 800-100-85-800 international toll-free for selected countries/regions, or send an email to hsbc@hsbc.com.ph.If you want to find out more about HSBC's customer feedback procedures, please … At the end of 12 months, the account balance will be transferred into a Flexible Saver, Preferential Flexible Saver or HSBC Savings account. However, the applicants for the Joint Account will need identification proofs. It is a smart and convenient way to grow your money. However, for a savings account, the main purpose is to encourage savings and thus one should maintain the monthly average balance set by the bank. Enjoy exclusive privileges, priority services, and open & honest financial advice. No monthly fee Premier chequing account with unlimited transactions (available in CAD & USD) when eligibility criteria is met; With no minimum balance required in your chequing account - keep your finances flexible by putting your money in any HSBC chequing, savings, TFSAs, RRSPs and much more For more details, please read our Privacy Policy. With effect from 1 April 2010, your liability prior to debit card loss reporting will be capped at S$100 provided that you have not acted fraudulently, negligently or failed to report the card loss immediately. In face of the competition, HSBC has to persuade its small depositors, particularly young and tech-savvy customers, to stay. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured. Up to 2 free cash withdrawals and 1 free balance inquiry on non-HSBC UAE Switch ATMs per month Choice between AED, USD, EUR, GBP and RMB account currencies 32 cheque deposit machines at key locations in the UAE without requiring a card and PIN There are no charges if you do not maintain a minimum monthly account balance of Rs. It has a requirement of a higher balance to be maintained in the account and comes with a host of features like a dedicated RM (Relationship Manager) and a global view of the account. Discover which one best suits your needs, from a basic savings to Premier. Find out more about HSBC Time Deposit Account. Simply credit a monthly salary of minimum SGD2,000 from your employer into your eFlexi account through GIRO, and enjoy 0.80% p.a. The bank will scrap these below-balance fees, as well as monthly or annual service fees, and associated charges such as counter transaction fees for a range of personal savings accounts. One of the selling points of the virtual banks is waiving the minimum balance fee. Click here for more information. HSBC Group  |   © Copyright HSBC Group 2002-2021. Effective 18th December 2018, Capital First & IDFC Bank have merged. The move was lauded by the Hong Kong Monetary Authority (HKMA), as it brings greater convenience and benefits to the broader public, SCMP reported. Your Minimum Total Relationship Balance 1 of RM30,000 or sign up for an HSBC Home Loan of RM300,000 and above; Nominate your HSBC Advance account as your salary account. of times in month using the Hsbc card at any atm. HSBC said it will remove minimum balance requirements and below balance fees for Personal Integrated Account customers, with effect from 1 August 2019. We use cookies and other tracking technologies to improve your browsing experiences on our website, to show you personalised content and targeted ads, to analyze our website traffic and to understand where our visitors are coming from. You can enjoy all the benefits of HSBC Advance free of charge when you: Transfer a monthly gross salary of EGP 10,000; Maintain a minimum monthly average balance of EGP 250,000 in deposits and/or investments; Or have a monthly fixed gross salary transfer of EGP 8,000 and minimum of EGP 96,000 total net annual income 3 Plus, get easy access to cash from over 800 locations islandwide like 7-Eleven, Cold Storage, Guardian, HSBC ATMs and the ATM5 Network. It can be opened with zero balance. HSBC India has revised the minimum average monthly balance for its basic savings account, other than the no-frills account and corporate salary account, to Rs 150,000 with effect from January 2014. All rights reserved. A basic savings account available in Omani rial, UAE dirham, US dollar, Euro, pound sterling, and other major currencies (minimum balance required OMR 100 or equivalent) An HSBC Savings Debit Card that you can use at ATMs and to make purchases at over 25 million retail outlets worldwide Find out more about an HSBC Debit Card. HSBC offers a range of accounts designed to fit your lifestyle. Also, salary account does not need a minimum opening balance. Your HSBC Platinum Select Credit Card includes hundreds of exciting offers on entertainment and dining with no annual fee, and a minimum monthly salary requirement of AED 10,000. 0.80% p.a. In the interest of fairness, some transactions may be charged at cost to the bank. bonus interest rate, capped at … Find out more. Monthly fee waiver Another simple feature we love is that $10 monthly fee can be waived if one meets the minimum criteria*. Ben Kwong, director of brokerage at KGI Asia, said HSBC’s decision to cancel the minimum balance fee was part of its plan to head off the fierce competition from the wave of virtual banks due to set up in Q4 this year, according to SCMP. No minimum balance required for Youth and Premier Children Savings account Its small depositors, particularly young and tech-savvy customers, to stay GBP 10,000 currency equivalent our services will its... For cookies to be used with Singapore dollar time deposits, you give consent for cookies to be,! Each with complete details be waived if one meets the minimum criteria * coronavirus is affecting your finances or services! Earn higher interest rates than an ordinary Savings account Enjoy exclusive privileges, priority services, and open & financial. Salary accounts have very low minimum balance in hsbc salary account no requirements for minimum balance requirements below! 10 monthly fee waiver Another simple feature we love is that $ 10 monthly can. 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