The "Total Relationship Balance" refers to the combined monthly average balance of all the accounts under the same customer number, which includes: (1) Renminbi / Foreign Currency Deposits; (2) investment capital amount(s) of Dual Currency Investment(s) and Structured Investment(s) (Capital Protected at Maturity / Partially Capital Protected at Maturity); (3) market value of other investment product(s) (including Overseas Investment Plan); (4) point of time cash value of traditional life insurance product(s) (including annuity insurance, whole life insurance, endowment insurance, critical illness insurance and universal life insurance) as at day end of the third to last working day of the current month; (5) point of time market value of investment account(s) under investment linked insurance product(s) as at day end of the third to last working day of the current month.
Remarks and notes:
A monthly service fee of RMB 300 (or its equivalent in any other currency) will be charged if the Total Relationship Balance of all the accounts under the same customer number falls below RMB 500,000 / equivalent foreign currency in the previous month. Please refer to the Tariff of Accounts and Services for Personal Customers or Premier Service Guide for detailed information.
If you have HSBC Premier account(s) in other country(ies)/territory(ies), you can (1) contact related overseas HSBC to set HSBC China as your host bank; or (2) authorise HSBC China with a designated form to transmit such instruction to the related overseas HSBC which you wish to set as home bank.
After setting HSBC China as your host bank for your HSBC Premier account(s), you can enjoy the monthly service fee waiver from HSBC China. Please be reminded though that the home bank set by you will charge the monthly service fee according to its requirement on minimum Total Relationship Balance (HSBC banks in different countries/territories may use different terms when referring to monthly service fee and may have different rules for minimum Total Relationship Balance, it is your responsibility to understand the detailed requirements). This means a monthly service fee will still be charged every month if the Total Relationship Balance of your account(s) falls below the minimum Total Relationship Balance requirement applied by the home bank.
These FAQs are intended to provide an overview of the information on issues related to financial products or services, or regulatory requirements faced when undertaking financial activity in mainland China. Due to the diversity and complexity of financial products/services and local regulatory environment, these FAQs can only provide an outline of the issues. The information is provided for your reference only, and shall not be construed as legal, financial or any other professional advice. HSBC makes no guarantee, representation or warranty and accepts no responsibility for the accuracy updatedness and/or completeness of the information.
Latest update in Nov. 2016