I would like to open a very normal and basic account with HSBC. It is for saving purpose. May I know can I get the account open just like others bank i.e, CIMB, Hong Leong, Ambank and etc? I have this question because most of my friends around me have an account with HSBC is because they either have their mortgages or credit card with HSBC. But I do not need all those, I just simply want to open up a saving account with HSBC. Thanks for all your help in advance.

Just walk into any HSBC Malaysia branches. There are 40 conventional branches offering both conventional accounts and Islamic accounts. There are also 4 Islamic branches named HSBC Amanah and they offer only Islamic accounts at these branches.

RM100 is all you need to open a savings account with HSBC. No introducer required.

There are 4 types of savings account currently offered by HSBC. See below :
- Basic Savings Account
- Toprate Statement Savings
- Basic Savings Account-i (Islamic)
- Amanah Statement Savings (Islamic)

To save some time, you can fill up the forms online, then print it out and just take it to any HSBC branch nearest to you for account opening. Click this link for the online forms > HSBC ONE STOP APPLICATION CENTRE


This post has been edited by MilesAndMore: Sep 23 2009, 06:17 PM

non muslim can open islamic accounts ?

basic saving account last time i opened with RM10 only

damm last time i open acc with hscbc back in 2000 need rm1k dammm now so cheap

Yes. Any non-muslim can open any Islamic accounts at any banks in Malaysia. I'm not a Muslim and was using HSBC Amanah Statement Savings-i until July 2009. Has since closed it and changed to a conventional checking account.

This post has been edited by MilesAndMore: Sep 23 2009, 09:24 PM

What about now ? Is it still remain as RM100 to open a new acc ?

There are 4 types of savings account currently offered by HSBC. See below :
- Basic Savings Account
- Toprate Statement Savings
- Basic Savings Account-i (Islamic)
- Amanah Statement Savings (Islamic)

What are the different between the 4 acc ?


Thanks

I think it is between RM20 - RM250 now. It is very easy to start a banking relationship with HSBC nowadays. In the 90s till early 2000s, they always asked a lot of questions and demanded for initial deposit of thousands of Ringgit.

Basic Saving Account
- offered by HSBC
- No ATM card annual fee
- 8 Free ATM withdrawals per month
- 6 Free over the counter transactions per month
- First two IBG in a month will be charged only RM0.50
- RM5 for each cash withdrawal at overseas HSBC Group ATM
- RM10 for each cash withdrawal via any VISA/PLUS supported ATM worldwide

Basic Savings Account-i
- offered by HSBC Amanah
- No ATM card annual fee
- 8 Free ATM withdrawals per month
- 6 Free over the counter transactions per month
- First two IBG in a month will be charged only RM0.50

Toprate Statement Savings
- offered by HSBC
- RM8/pa for ATM card
- Unlimited ATM withdrawals if account balance is more than RM5,000, else RM1 will be charged starting from the 5th withdrawal in a month
- Unlimited over the counter transactions
- RM5 for each cash withdrawal at overseas HSBC Group ATM
- RM10 for each cash withdrawal via any VISA/PLUS supported ATM worldwide

Amanah Statement Savings
- offered by HSBC Amanah
- RM8/pa for ATM card
- Unlimited ATM withdrawals if account balance is more than RM5,000, else RM1 will be charged starting from the 5th withdrawal in a month
- Unlimited over the counter transactions
- RM5 for each cash withdrawal at overseas HSBC Group ATM
- RM10 for each cash withdrawal via any VISA/PLUS supported ATM worldwide

This post has been edited by MilesAndMore: Jan 20 2010, 04:01 PM

Sorry to bring up the post but do anybody know what's the difference on HSBC Advance account? Thanks.

It is an all-in-one interest bearing current account. No account fee (RM5) will be charged until December 2010. The monthly account fee of RM5 will be automatically waived provided you keep at least RM20,000 inside HSBC at all time. The RM20,000 can either be held in Time Deposit or any other investments you've made through HSBC. Unlike all other current accounts on the market (except HSBC Premier), you can keep as little as RM1 inside your HSBC Advance current account and not be slapped with any account fee provided you meet their fee waiver criteria as mentioned just now.

By the way, you are allowed unlimited over the counter transactions and HSBC Malaysia ATM cash withdrawals. The annual fee for the HSBC Advance ATM card is RM8/pa. This account also comes with a complimentary credit card (see below). This credit card will be mailed to you within 2 weeks after you successfully opened the account. No income documents are needed to apply for this card.

just 1 quick question...

what are the advantages of having HSBC account compare to other banks???

just curious...

Thanks for your reply MilesandMore. Regarding the credit card, you mean as long as the account is successful open, there's no other document needed like applying other CC? So, is this credit card shared the same benefits/rewards as other CC as well? Point rewarding based?

This post has been edited by -Shinjiz-: Jul 21 2010, 09:05 PM

Being the most global bank in the world as well as its very sound financial standing compared to many major banks. The HSBC Premier is very useful if you travel a lot or have lots of money.



Correct.


Yes. This credit card will have the same privileges as all other HSBC range of credit cards. And yes, it is a point based credit card which RM1 will be rewarded with 1x HSBC Rewards Point.

I agree it is useful when you move between countries a lot, but I'm not clear about the second point. Can you provide some examples?

Oh ... you mean the part about HSBC Premier is useful if you have lots of money ? Well, many high net worth individuals normally will choose not to have all of their money inside the country. Instead, they prefer to park it in some offshore banks as it is much easier to move money around. Usually, offshore banks always come with pretty expensive account management fee and it is charged on a monthly basis. With HSBC Premier, HSBC offshore banking services are totally free if you already are a HSBC Premier client here in Malaysia. Besides, HSBC always give better rate to HSBC Premier Time Deposit. These are the reasons why i said HSBC Premier is very useful too if you're a wealthy individual.

By the way, just so you are interested. The HSBC Group offer offshore banking services mainly through four of its units namely HSBC International, HSBC Bermuda, HSBC Hong Kong and HSBC Singapore. HSBC International is the main offshore bank of the HSBC Group based in Jersey. Besides its main office in Jersey, HSBC International also has offices in Singapore, Hong Kong, Dubai and Miami. HSBC International, HSBC Bermuda Offshore, HSBC Hong Kong Offshore and HSBC Singapore Offshore are all different entities and not related to each other directly. Hence, each has its own set of terms and conditions, fees and charges and types of account on offered.

I know it is kind of confusing. Anyway, let say you go to Singapore and inquire about HSBC Offshore Banking services, they will let you to choose either to open the offshore banking account with HSBC International or HSBC Singapore. Please be reminded that both HSBC International and HSBC Singapore operate separately and each unit have their own bankers and the products offered are completely different.

Besides the four units mentioned above that offer offshore banking services, HSBC also offer offshore banking services in several different countries such as HSBC Panama, HSBC Cayman Island and HSBC Labuan but the HSBC Group focus on their offshore banking services mainly in the four units mentioned.

This post has been edited by MilesAndMore: Jul 21 2010, 11:11 PM

Yes, the offshore/overseas services are certainly useful to those who make use of it. Locally, the FD rates though are no different between Premier and other normal Time Deposits, currently. There is a very slightly better rate for the Premier savings account, and I believe there are also some (slightly?) better rates for foreign exchange and mortgage rates. The no fee Premier credit card is useful. The no queue RM services are useful too. But the advantages would appear to be mostly offshore.

so just one quick question here...i'm no expert for all this...but I got one account with HSBC UK...and if I open another HSBC account in Malaysia...is that both of this account will be connected?

The thing i'm concern here...is that i just can make money transfer from HSBC malaysia to HSBC UK just using HSBC intenet banking? and is that no fee for transfer process?

Yes. That is true.


Indeed. HSBC Premier customers will get preferential foreign exchange rates.



Yes. You can open another account at HSBC Malaysia. However, one of the accounts in either countries must be either an Advance or Premier account as the HSBC Global View feature is only available to HSBC Advance and HSBC Premier customers. Therefore, if your accounts are regular savings/current account, you will not be able to connect it under a single login page. You must go back to HSBC UK site to view your HSBC UK account.


No. There will still be fees for telegraphic transfer done through HSBC internet banking for both HSBC regular savings/current account and HSBC Advance account. You will need to refer to your bank regarding the applicable fees and charges.

For the HSBC Advance account, you can transfer the money to any of your overseas HSBC accounts via HSBC Global Transfer (will only become available to HSBC Malaysia Advance customers by the end of this year). HSBC Global Transfer is a service offered only to HSBC Advance and HSBC Premier customers. For HSBC Premier customers, this service is 100% free of charge. As for HSBC Advance customers, a minimal fee applies. The HSBC Global Transfer can only be used provided you have linked your local HSBC Advance/Premier account(s) to your overseas HSBC account(s).

So, what is the advantage of HSBC Global Transfer compared to regular Telegraphic Transfer ? HSBC Global Transfer is available only through HSBC internet banking and offers you real-time crediting of your money transferred to your designated overseas HSBC account (the overseas HSBC account must be your own account). However, please note that the instant crediting of your money can only be done if the overseas HSBC office is on the same time zone as Malaysia and during office hours only. For example, you make a Global Transfer from your local Advance/Premier account to HSBC USA account at 9am Malaysian time this morning, the money you transferred out won't be credited into your HSBC USA account until tonight at 9pm Malaysian time. Why ? Because the money will be on-hold and HSBC USA will only release the money when they start working at 9am Eastern Time (New York).

By the way, the HSBC Global Transfer daily limit for HSBC Advance customers is US$10,000 (or its currency equivalent). The daily limit for HSBC Premier customers is much higher at US$100,000 (or its currency equivalent).

This post has been edited by MilesAndMore: Jul 22 2010, 12:40 AM

You opened basic saving account without any takaful plans? Just deposit RM 10?

I just opened a saving account in HSBC but as per the stupid officer that I need to buy the takaful saving plan which requires me to put in RM 100 every month. If I don't, I can't open a saving account in HSBC.

I suspect the officer con me in order to hit his sales target.

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