Reply to: HSBC Premier Account... any good??

[Peoplesoft bloke]

Been Premier Customer for >8 years - very happy. It's always been free for me (big mortgage) - the free travel insurance is a good deal but by far the best @ present is my tiny mortgage rate - the rate is pinned just above BOE base rate :-)

If they wanted to charge me, it'd still be well worth paying (don't tell them).

They have better savings rates for some products too.

My CRM phones me once a year and I've had the same one for >5 years - even though I've never met her she's been very helpful.

Overall a good deal and enough to stop me being bothered to move banks.

[Bexter]

Yep I've got this account too and it is well worth it! As others have said, just having the dedicated relationship manager is fantastic. Whenever I call up I can get through to someone immediately who understands what I'm saying and the generally do bend over backwards to help.

The travel insurance is very good too.

[SimonMac]

I was with Lloyds and went through the Gold, Platinum, Premier etc etc "value added accounts" and to behonest I found the sum of all the benefits probably are worth paying the extra, however I never used all the benefits so could get the parts I wanted cheaper shopping around.

[GB2408]

It depends how far away you are from qualifying. If it's a considerable amount then they won't do.

If you fall a bit under but they think you have the potential in coming years to exceed the qualifying criteria then they will use their own discretion.

[Mr.Whippy]

I want it but don't strictly qualify.
I have both personal and business with HSBC so will they give it to me free anyway if I threaten to leave ?

I reckon so, especially with personal and business accounts... The relationship managers can do quite a bit at their discretion.

[oversteer]

I want it but don't strictly qualify.
I have both personal and business with HSBC so will they give it to me free anyway if I threaten to leave ?

[GB2408]

I have a HSBC Premier Account - It works perfectly for me because they have a huge branch 5 minutes from where I live that is open 7 days a week.

Aside from all the standard benefits, the Premier Credit card, and the preferential rates on mortgages, savings etc, the dedicated relationship manager (DRM) is the biggest benefit by far.

My DRM is available whenever I need him via email, text, phone, or at very short notice in person. He takes care of any query I have, any product I want to explore, etc.

Aside from that I have a dedicated Business Advisor (effectively an IFA) that gives great advice on tax efficient savings and investments (not necessarily HSBC ones either).

It's a one stop shop for everything and I also business bank with them. Great for people like me that don't have enough time to juggle accounts around and ring 10 different numbers for different areas.

And as long as you are eligible (earn over £100K AND have a HSBC mortage of over £300K or savings with HSBC of over £50,000 or use their dedicated IFA service) it doesn't cost £25 a month, it's free.

For some, the prestige is another bonus

[Mr.Whippy]

Yes, I have HSBC Premier accounts and my experience is that it's well worth having.

Your relationship manager cant necessarily answer everything immediately, but they do all the chasing and get the answer or problem sorted for you. So you fire off an email or quick call with your problem/query and they come back to you. So it saves you the hassle of being stuck in queues in HSBC's Indian call centre.

They also have a bit more clout. I stupidly forgot to transfer some money so went over my overdraft limit for 2 days and was hit with a £50 charge, so I sent an email saying I didn't think it was acceptable and 10 mins later I got a reply saying the charge had been cancelled.

As also pointed out, no queuing in the bank and private rooms for premier customers to discuss matters and they even make you coffee

The service is great compared to non-Premier. Thats the thing I signed up for, wasn't particularly interested in the preferential rates or insurances.

[Joeman]

I find it astounding that you have opened this account and completely missed one of the key features of premier and that's the dedicated relationship manager, who's contact details are handed to you which include direct line number & mobile plus email address. And yes, they do speak English.

Do you have one of these accounts? how's you experience been with them??

I was aware of the dedicated relationship manager, but are they any good?? Are they able to answer questions or are they a waste of time?? (glorified call centre staff maybe) That's the kind of info I was hoping for - reviews from people who actually have had the account for a while and have some stories to tell (good or bad)

The only reason I got the account was because I was in the branch at the weekend doing some other business, and they offered it to me for free, so I accepted. I figured i'd give it a try and see what its like, but if people don't rate the services/benefits etc, then i wasnt going to bother..

Maybe the accounting/legal forum isn't the correct place to ask about personal bank accounts... who knows!!??

[Mr.Whippy]

Benefits i can read about, but was thinking more about the level of service, like do they answer the phones promptly?? do they speak English?? All the kind of stuff you only find out about AFTER you start using the account...
What aspects of the account are bad?? is the internet banking interface rubbish?? etc etc, all the stuff people bitch about their banks..

I find it astounding that you have opened this account and completely missed one of the key features of premier and that's the dedicated relationship manager, who's contact details are handed to you which include direct line number & mobile plus email address. And yes, they do speak English.

[Greg@CapitalCity]

Our clients deal a fair bit with HSBC. The Premier account feedback I get is that it is great. More personalised service with your own relationship manager, avoid queuing in the bank by using an area dedicated to Premier customers, you can get £1,000 in cash out a day (in case you are caught short at the horse racing), and access to an interest free overdraft facility up to £500. Sounds like a good service to me!

[Joeman]

That all depends on whether or not the benefits the accounts come with are good and worthwhile to your needs?... Are you after a new mortgage, or extra insurance(s) or anything else that the account provides?

As NLUK said, bit daft to be asking now...... either the benefits are of use to you or they're not.

Benefits i can read about, but was thinking more about the level of service, like do they answer the phones promptly?? do they speak English?? All the kind of stuff you only find out about AFTER you start using the account...
What aspects of the account are bad?? is the internet banking interface rubbish?? etc etc, all the stuff people bitch about their banks..

[Mr.Whippy]

if its good and worthwhile having

That all depends on whether or not the benefits the accounts come with are good and worthwhile to your needs?... Are you after a new mortgage, or extra insurance(s) or anything else that the account provides?

As NLUK said, bit daft to be asking now...... either the benefits are of use to you or they're not.

[Joeman]

I don't wanna point it out as you will get upset but a bit late asking if it is ok now you have it. Another non starter thread?

Not too late at all - its a brand new account with no money in that cost me nothing to setup - wondered if anyone else had one and could provide any feedback. if its good and worthwhile having, i'll use it, if its not, I'll cancel it.. no biggie

[northernladuk]

I don't wanna point it out as you will get upset but a bit late asking if it is ok now you have it. Another non starter thread?