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Hi all, and thank you for any advice.

I currently have over 100k in a citigold account, several investment accounts at ETrade and ameritrade. I know I can definitely use advice from a financial adviser and decided to meet with a HSBC Premier consultant. I am also next week meeting with someone from Citibank to compare with. I reside in NYC so banks are plenty and there are definitely a lot to choose from.

Basically I am not an expert in financials at all. I am looking to find a good adviser and the best product that offers the most. I know all I really gain from citigold so far is being treated better and faster then other customers. I need advice on which bank has a better product or service as far as a complete financial assistance in all aspects. And that does not necessarily mean only HSBC or Citibank it can be a different bank entirely.

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Well, each bank is going to steer you toward their products. What will make you happy, and what are you looking for? At this point, do you want growth, preservation, faster service, low fees?


As GreyRabbit indicated, they will steer you towards their products and brokerage and perhaps recommend some load funds.

GreyRabbit said:   Well, each bank is going to steer you toward their products. What will make you happy, and what are you looking for? At this point, do you want growth, preservation, faster service, low fees?I am looking for growth, comfort, feeling that they are knowledgeable. Of course while trying to keep the expense down. I know that they have similar products which they will sell to me well. The better question is what other people like best after trying them.

mespin said:   You may want to look at this recent thread:
Who has best perks for $100k+ deposits? (like CitiGold and HSBC Premier)


Thank you, I am reading the thread now.

I had HSBC Premier. I asked for a car-loan and they said they did not do them. They gave me a credit card with a $6.5K limit. Even with 3 years of history they would not budge. I closed the account.

I am now with Wells Fargo PMA & a couple of credit unions. I have access to a great range of products and the service is excellent.

The best thing about HSBC premier is their worldwide network. If you frequently travel and stay for a good period in many countries, they can set you up with banking/credit products quickly and easily. You can also transfer funds between countries fee free and have it show up in minutes.

Zaos said:   The best thing about HSBC premier is their worldwide network. If you frequently travel and stay for a good period in many countries, they can set you up with banking/credit products quickly and easily. You can also transfer funds between countries fee free and have it show up in minutes.

With Citi Global transfer I can have the transfer show up in the target account in a couple of secs (just hitting refresh on the browser). It is low-cost or free depending source/target countries, and it doesn't even require Citigold status. So I'd say it is not something impressive for HSBC premier...

Ecuadorgr said:   Zaos said:   The best thing about HSBC premier is their worldwide network. If you frequently travel and stay for a good period in many countries, they can set you up with banking/credit products quickly and easily. You can also transfer funds between countries fee free and have it show up in minutes.

With Citi Global transfer I can have the transfer show up in the target account in a couple of secs (just hitting refresh on the browser). It is low-cost or free depending source/target countries, and it doesn't even require Citigold status. So I'd say it is not something impressive for HSBC premier...


Thanks for pointing that out. When I looked at it before, it was for citigold only. What's the spread like? HSBC has spreads within 700 ? pips of what I was seeing on oanda. I may have to look into the citibank thing.

Fee structute & limits: https://online.citibank.com/US/JRS/pands/detail.do?ID=InterCiti
Rather low limits, I think for HSBC the limit is around 1 MM.

Does anyone know of anyone bank that has setups like these?

Zaos said:   Thanks for pointing that out. When I looked at it before, it was for citigold only. What's the spread like? HSBC has spreads within 700 ? pips of what I was seeing on oanda. I may have to look into the citibank thing.

Fee structute & limits: https://online.citibank.com/US/JRS/pands/detail.do?ID=InterCiti
Rather low limits, I think for HSBC the limit is around 1 MM.

Does anyone know of anyone bank that has setups like these?


I think you are compare apple to orange. IIRC, hsbc only allows you to transfer to your own account anywhere in the world. citi allows u to do global transfer to ANY citi accounts.

there are only 2 truly global banks, citi and hsbc. I really don't think you can find a 3rd bank that can rival these two. I have been to many counrties and I always see citi or hsbc. of course, I have accounts to both banks.

Thanks for chiming in. For my use, I typically send funds from a fee-attracting origin, so it kinds of kills it for me. Any idea what the spread like sending from US to a major currency?

Ecuadorgr said:   Zaos said:   The best thing about HSBC premier is their worldwide network. If you frequently travel and stay for a good period in many countries, they can set you up with banking/credit products quickly and easily. You can also transfer funds between countries fee free and have it show up in minutes.

With Citi Global transfer I can have the transfer show up in the target account in a couple of secs (just hitting refresh on the browser). It is low-cost or free depending source/target countries, and it doesn't even require Citigold status. So I'd say it is not something impressive for HSBC premier...


I have hsbc premier and citigold. Hsbc global self-to-self transfer is instant, not minutes as mentioned by poster above. For hsbc premier clients, using the global transfer feature is free and the spreads are decent.

Hsbc is a far more global bank than citi in the sense that foreign hsbcs are willing to check your home country hsbc history/credit when opening loc's overseas. You don't start your relationship with them from scratch. All bank accs that you open with them will also be titled Premier with no balance requirements so long as you maintain your premier relationship in your home country. I've easily opened hsbc accs with credit cards in four countries, CAN/US/HK/TW. They were also happy to give me a mortgage if needed.

Citi Taiwan on the other hand would not recognize my US citi history, firmly stating that while they are the same bank, I would have to start my relationship from scratch. If I still chose to open an account, I would need to maintain the citigold required balance in Taiwan as well.

So if you're really looking for a true Global Bank where you can take your history with you, go with Hsbc.
Hsbc Premier is also really generous when it comes to credit limits, unlike it's subsidiary "household". (My HSBC Premier CC Limits roughly in USD) US-55k, CAN-25k, TW-10k, HK-15k.
They use the same hsbc premier cc design, so I have the exact same card, but four of them (each a different country).

To the poster who said he got a 6.5k limit with premier.. ???.. FW heavy hitters have reported getting 100k limits with premier.

westphal63 said:   I had HSBC Premier. I asked for a car-loan and they said they did not do them. They gave me a credit card with a $6.5K limit. Even with 3 years of history they would not budge. I closed the account.

I am now with Wells Fargo PMA & a couple of credit unions. I have access to a great range of products and the service is excellent.


To use hsbc premier you need to maintain 100k with them. If you actually had that amount with them, they would have trusted you with a higher limit. They probably were charging you $50 a month for not maintaining that balance too, so it was a good idea for you to proactively close the account.

I've heard of Wells Fargo PMA providing decent service, but 25k for entry is too low since that practically puts everyone at that status. In which case, nothing special.

For internationals who live in more than 1 country, having just WF PMA / credit unions in the states is just not enough.

elleve said:   Ecuadorgr said:   Zaos said:   The best thing about HSBC premier is their worldwide network. If you frequently travel and stay for a good period in many countries, they can set you up with banking/credit products quickly and easily. You can also transfer funds between countries fee free and have it show up in minutes.

With Citi Global transfer I can have the transfer show up in the target account in a couple of secs (just hitting refresh on the browser). It is low-cost or free depending source/target countries, and it doesn't even require Citigold status. So I'd say it is not something impressive for HSBC premier...


I have hsbc premier and citigold. Hsbc global self-to-self transfer is instant, not minutes as mentioned by poster above. For hsbc premier clients, using the global transfer feature is free and the spreads are decent.


I said minutes as it sometimes takes a few clicks on View Accounts for it to show up. The spread is pretty good now, but I think they increased it significantly earlier this year. It's still very competitive though.

The service levels do vary by region though. Australia refuses to send me my ib pass for some reason, and they require apps to be faxed in.

Anyway, how's your experience with their rewards program. I've only ever cashed out checks, but it looks like I may have been missing out on some airline redemption that may be of better value.

I mainly use my US/CA for checks. Taiwan/HK has a different point system that I use for airline miles. It depends on the individual though. No forex fee is quite handy on these cards.

Has anyone used the mortgage with HSBC premier? I got a promotional email from them claiming that they have better rate for premier members....



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