HSBC launches world’s local bank account

HSBC has created the first truly global personal banking service for the world’s 200 million mass affluent1 and internationally mobile consumers.
Rolled out simultaneously across 35 countries and territories2, HSBC Premier is the most comprehensive global banking and wealth management service ever devised. Breaking down international barriers, Premier offers seamless cross-border banking and the promise that customers can, for the first time, take their accounts, credit history and banking relationships with them wherever they choose to live and work, provided that the exchange control regulations in these countries have been met.

Premier customers have access to 250 international Premier Centres, cited in major cities around the world, and more than 6,000 branches with Premier service points. Each location will have access to all the information needed to serve customers and provide local advisory services.

Simon Williams, Head Personal Financial Services, HSBC said: “There are around 200 million mass affluent consumers in the world today and that number is growing rapidly, by as much as 20 per cent a year. These customers are highly mobile, sophisticated and knowledgeable. HSBC, with operations in 83 markets, is the only bank in the world that could provide them with the seamless international service they need.”

To support Premier customers, HSBC has embarked on one of the largest re-training exercises of its kind, providing over 4,000 HSBC Premier Relationship Managers around the world, plus another 2,500 support staff with the necessary training and accreditation so that they are fully ready to provide the new services from day one.

HSBC already has over two million customer signed up to its old, nation-specific, Premier services, but with an estimated 110 million mass affluent consumers globally and an annual growth rate of over 20 per cent, there are significant opportunities to capture further market share in this sector.

The new global Premier service brings with it a host of enhanced services, which include:

A single account view of all accounts held with HSBC globally via Internet, available from December 2007.

Free fund transfers between accounts, wherever they are based, from November 2007, provided that exchange control regulations have been met.

A credit card offering exclusive deals from 6,000 merchant in 40 countries
Access to banking services and lounge facilities across 35 countries and territories
Ability to pre-open overseas accounts in home country and transfer credit history when relocating overseas.
Equal status across the Premier network with local minimum requirements waived
Manage all accounts, whichever country they are in, through a single website from December 2007.

One worldwide number 1-908-PREMIER for emergency assistance
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