HSBC Advice

Assassin_012 · 22 Jun 2013 at 12:43

so, i plan on going to Hong Kong, some time next year.

was thinking of opening up a account in HSBC, for convinience of withdrawing money from another country.

however, they say I can only have one bank account if i joined them. so, il have to move everything from my current bank to HSBC.

any other way i could do this?

ive tried searching the web for answers to this, but no luck

swillsy · 22 Jun 2013 at 13:00

The numbers on the cash machines are upside down. Nearly had a panic attack when I tried to get some bunse out

Kol · 22 Jun 2013 at 13:02

Why do HSBC say you cannot have another account? The only time I've seen this was when it comes to student accounts and you're required to have your loan paid in.

I'm with HSBC but also have a Natwest account.

Ironic Namesake · 22 Jun 2013 at 13:19

If planning to open a HSBC UK account shouldn't be an issue - I have one along with Natwest too , should be no reason to close any other accounts !

Assassin_012 · 22 Jun 2013 at 13:21

Kol said:
Why do HSBC say you cannot have another account? The only time I've seen this was when it comes to student accounts and you're required to have your loan paid in.

I'm with HSBC but also have a Natwest account.

im not sure, she basically said it was a rule within HSBC

Assassin_012 · 22 Jun 2013 at 13:22

Ironic Namesake said:
If planning to open a HSBC UK account shouldn't be an issue - I have one along with Natwest too , should be no reason to close any other accounts !

then my best bet is to ask again.

i should probably go to a different branch.

Ironic Namesake · 22 Jun 2013 at 13:22

Assassin_012 said:
im not sure, she basically said it was a rule within HSBC

Sounds like BS to me, when I opened my HSBC account they didn't even ask or mention other accounts - did it all online / over the phone (can't remember exactly!)

stumpy187 · 22 Jun 2013 at 13:43

They charge around £100 for an international account if you don't have a UK account. I tried that before going out to Canada

Ironic Namesake · 22 Jun 2013 at 13:43

stumpy187 said:
They charge around £100 for an international account if you don't have a UK account. I tried that before going out to Canada

I think OP wants to open a UK account, not HK?

Assassin_012 · 22 Jun 2013 at 14:11

yes, sorry for the lack of info.

i want to open a UK account, in HSBC, im a student in University (not sure if it affects the situation)

this is so, that i could use cash more conveniently when going to HK for holiday.

but some reason, HSBC didnt let me, as they say i could only be restricted to 1 bank. hence il have to move all the cash to HSBC.

Ironic Namesake · 22 Jun 2013 at 14:15

Assassin_012 said:
yes, sorry for the lack of info.

i want to open a UK account, in HSBC, im a student in University (not sure if it affects the situation)

this is so, that i could use cash more conveniently when going to HK for holiday.

but some reason, HSBC didnt let me, as they say i could only be restricted to 1 bank. hence il have to move all the cash to HSBC.

Could try and call them, open it over the phone

Although maybe something like a Halifax Clarity card would work out cheaper for cash abroad? Don't have one myself but seems to be recommended on here all the time ..

dowie · 22 Jun 2013 at 14:15

What is the benefit of opening a UK HSBC account?

I mean you seem to want to open a bank account in HK... which might make sense if you're going to require large sums of cash over there... but is there any actual benefit to having a HSBC UK account over some other one - if so what?

Most banks offer multi currency accounts and there are plenty of FX places which will deal with small companies and individuals as far as exchanging your foreign currency - does HSBC offer better rates when transferring between a UK HSBC account and a HK one?

grahamjenks · 22 Jun 2013 at 14:16

They won't give you a student account if you have one somewhere else. They might give you basic account - but you'd have to deposit £500 a month

Ironic Namesake · 22 Jun 2013 at 14:20

dowie said:
What is the benefit of opening a UK HSBC account?

I mean you seem to want to open a bank account in HK... which might make sense if you're going to require large sums of cash over there... but is there any actual benefit to having a HSBC UK account over some other one - if so what?

Most banks offer multi currency accounts and there are plenty of FX places which will deal with small companies and individuals as far as exchanging your foreign currency - does HSBC offer better rates when transferring between a UK HSBC account and a HK one?

I read it as he's going to HK on holiday rather than moving there?

Maybe because HSBC has large presence of ATMs throughout HK ...

dowie · 22 Jun 2013 at 14:21

Ironic Namesake said:
I read it as he's going to HK on holiday rather than moving there?

Maybe because HSBC has large presence of ATMs throughout HK ...

That makes no sense though... an ATM is an ATM... you don't require a HSBC account to use one of their ATMs surely?

Disco Boy · 22 Jun 2013 at 14:23

I have two current accounts. One of them is with HSBC. Just don't tell them.

Ironic Namesake · 22 Jun 2013 at 14:31

dowie said:
That makes no sense though... an ATM is an ATM... you don't require a HSBC account to use one of their ATMs surely?

Maybe cheaper rates for HSBC cards to use foreign ATMs?

I know HSBC Premier has preferential rates for using their foreign ATMs, can't remember how much of a difference it makes though

MrMoonX · 22 Jun 2013 at 14:35

HSBC are awful I wouldn't bother

Ironic Namesake · 22 Jun 2013 at 14:39

MrMoonX said:
HSBC are awful I wouldn't bother

I've only had good experiences with HSBC myself so far, better than Lloyds / Natwest at least, I guess it depends on luck

dowie · 22 Jun 2013 at 14:46

Ironic Namesake said:
Maybe cheaper rates for HSBC cards to use foreign ATMs?

I know HSBC Premier has preferential rates for using their foreign ATMs, can't remember how much of a difference it makes though

Clarity Card would likely be cheaper still... tbh you're just guessing as to what benefit the OP thinks he will get as I don't think his (potential)HSBC Student account will carry the same benefits as HSBC Premier.

would be interesting if the OP has actually got a specific benefit he can outline from having a UK HSBC account - I'm just wondering if he's simply assuming there would be a benefit or perhaps isn't aware of other options