HSBC HK / HSBC Jersey

[Yrybak08]

It seems they’re now allowing account openings remotely for most Europeans as well as US citizens. Process is very simple. You apply on the app, they contact you within a business day and ask to upload your ID and proof of address and that’s about it. Question is, since HSBC has branches in the US; would your name pop up in a systemwide search in the US systems? Fear here is not the government since money is clean but rather creditors in the event of a lawsuit in the future etc anyone knows?

 

[Sols]

Generally, no. Banking secrecy and data protection laws would prevent information distribution like that without the account holder's consent.

 

[daniels27]

HSBC US is only for premier.

They all follow FACTS reporting and CRS. If you owe your government money, they will do all to collect it globally.

HSBC US has access to your account and can see it.

 

[churumbelo]

It seems they’re now allowing account openings remotely for most Europeans as well as US citizens. Process is very simple. You apply on the app, they contact you within a business day and ask to upload your ID and proof of address and that’s about it. Question is, since HSBC has branches in the US; would your name pop up in a systemwide search in the US systems? Fear here is not the government since money is clean but rather creditors in the event of a lawsuit in the future etc anyone knows?

You have to deposit at least £50k, right?

 

[Yrybak08]

You have to deposit at least £50k, right?

That’s for the premier account. HK gives the option to have a free current account and so does HSBC UK. Jersey will charge you a monthly fee of you don’t maintain 50k. A way to avoid the fee and the 50k min balance req. is to show documentation proofing 100k+ salary

 

[churumbelo]

That’s for the premier account. HK gives the option to have a free current account and so does HSBC UK. Jersey will charge you a monthly fee of you don’t maintain 50k. A way to avoid the fee and the 50k min balance req. is to show documentation proofing 100k+ salary

I checked HSBC Expat Jersey and HK (not premier) and those were the conditions. Maybe I'm not looking into the right product.

 

[daniels27]

Yes but IMO premier is worth it. You get free coffee and global transfer between you accounts.

Yes but I think you need to pay the salary into your account:

HSBC Premier | Exclusive Services - HSBC Channel Islands & Isle of Man

HSBC Premier is an exclusive banking solution to fit your lifestyle from everyday banking to global products and services. See our Premier account solutions.

ciiom.hsbc.com

You can get HSBC Premier - including a dedicated Relationship Manager - if both of the following apply to you:

• You pay your annual income into your HSBC Premier account
• You have savings or investments of at least £50,000 with HSBC in Jersey, Guernsey or Isle of Man

You can get HSBC Premier – not including a dedicated Relationship Manager – if you have both of the following:

• An individual annual income of at least £75,000, paid into your HSBC Premier account
• A mortgage, investment, life insurance or protection product with HSBC in Jersey, Guernsey or Isle of Man

 

[churumbelo]

Yes but IMO premier is worth it. You get free coffee and global transfer between you accounts.

Yes but I think you need to pay the salary into your account:

HSBC Premier | Exclusive Services - HSBC Channel Islands & Isle of Man

HSBC Premier is an exclusive banking solution to fit your lifestyle from everyday banking to global products and services. See our Premier account solutions.

ciiom.hsbc.com

I have no salary... I will check it out later. Thanks.

 

[daniels27]

Ok they go the second option and invest £100 with them.

New To Investing | Start Investing - HSBC UK

Investing is an alternative way to save for your future, and you can start investing with as little as £50. Capital at risk.

www.hsbc.co.uk

 

[churumbelo]

Ok they go the second option and invest £100 with them.

New To Investing | Start Investing - HSBC UK

Investing is an alternative way to save for your future, and you can start investing with as little as £50. Capital at risk.

www.hsbc.co.uk

Thanks.

But that's UK. Do they open accounts for citizens abroad? Usually UK banks are very strick when it comes to opening accounts for non-residents.

In any case, I don't want to put my money in the UK. I would prefer HK or other jurisdiction. And of course, not in the UE. I will check out the HK alternative, but I'm not parking over 50k in cash in their bank without any reasonable interest. If that's the case, I'm not interested.

 

[daniels27]

HSBC expat then

Offshore Bank Accounts | Expat Account - HSBC Expat

Open an offshore HSBC Expat Current Account, available in GBP, USD and EUR. Also open a savings account in 19 different currencies. Find out how today.

www.expat.hsbc.com

I think you can just claim you income and then invest £100. Seems it works

Review: Is the HSBC Premier Mastercard worth getting? (2024)

Earn Avios or 11 other airline and hotel points

www.headforpoints.com

Alternatively, if you earn over £75,000, you qualify if you just have a HSBC mortgage or any investment or insurance product. The minimum investment in an ‘investment product’ is just £100. You can see the range of HSBC investment funds here.

Expat requires£100k vs. £75k in UK.