HSBC widens support for families divided across borders

The enhancement comes at a time when families are living in different countries and need extra support due to the restrictions in international travel.

HSBC is the first bank in Singapore to extend privileges to Premier customers’ children between the ages of 12 and 30¹. The benefits can support customers’ children including those living apart while studying overseas, or to assist adult offspring kick-start their financial planning journey as they grow their career.

The heightened benefits include:

Pre-Arrival

• Tap on HSBC’s global network for international banking support in Singapore
• Set up a HSBC Everyday Global account with debit card provided to access ten foreign currencies (CAD, CHF, NZD, GBP, EUR, HKD, USD, SEK, RMB² and ZAR)
• View and manage HSBC accounts across geographies through a single login³ with fee-free and instant transfers between any global HSBC accounts in more than 20 countries and territories including Europe, Hong Kong, Mainland China, and the United States, through a single HSBC Everyday Global Account
• Send money overseas like a local via the HSBC Singapore app to over 20 countries and territories including Mainland China’s UnionPay cardholders⁴ and to over 200 countries and territories via SWIFT
• Access to a suite of foreign exchange services via HSBC QuickFX App
• Access to International Mortgage for investment residential properties located in and around Sydney, Melbourne, Brisbane, Perth and Adelaide in Australia.

Post Arrival

• Gain access to relationship manager support in destination country via the globally-recognised HSBC Premier status
• Obtain Worldwide emergency cash and support
• Tap on Premier Mastercard with local and international benefits
• Easy access to cash at HSBC ATMs and many other touchpoints throughout Singapore as well as over a million ATMs on both the HSBC and PLUS networks worldwide

Additional partner privileges and benefits

Ms Alice Fok, Head of Customer, International and Marketing, HSBC Bank (Singapore) said: “The past 18 months has been incredibly tough for all of us. This has been particularly so for people who are separated from their family due to the inability and restrictions to travel. As a global bank, many of our Premier customers have international needs – be that for property, investments or family abroad. The widening of our Premier coverage to include our customers’ families removes some of these added pressures. This is particularly helpful for customers who have kids studying overseas – it provides peace of mind that they will have extra on-the-ground financial and personal support when they can’t be with them.” 

Currently, almost half of HSBC Singapore’s Premier and Jade customers have international needs, be it for investments including overseas property or their children’s education.

Singaporeans more likely to study abroad and buy properties overseas

• A 2007 study found that 11% of Singaporeans study abroad compared to 2% global average⁵.
• HSBC research found that a third of surveyed mass affluent Singaporeans currently have overseas property investments, while 70% plan to buy investment properties abroad.⁶

HSBC Premier serves customers with minimum SGD200,000 in total relationship balance. Besides having access to exclusive benefits and privileges, HSBC Premier customers are accorded the same recognition in other HSBC locations where Premier banking is offered. They are also able to have a consolidated view and manage their HSBC accounts in different locations via HSBC Online Banking or the HSBC Singapore app.

Media enquiries to:

Betty Fong, HSBC Singapore | +65 6658 4103 | betty.c.y.fong@hsbc.com.sg