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.

!^%&%#@$&#

I think you have indeed been conned. Do not let him get away with it. File a formal complaint to HSBC HQ.

It's definitely a con.

One advise, if you want to open an account, it's better for you to bring any supporting documents, like offer letter (for salary purposes) or anything that makes sense. Opening a bank account nowadays is not as easy as walk in and open. The officer will ask a lot of questions. If you bring enough documents, that will convince them.

Same case when I opened my account in HSBC, brought my offer letter and the officer didn't even ask extra questions.

Some corrections to my earlier post. The monthly account maintenance fee for HSBC Advance is RM10 and not RM5 as posted earlier.

Yep, and the newly introduced account, HSBC Amanah Advance also will enforce RM10 monthly maintenance fee if TRB is below RM20,000.

This post has been edited by blahbleh: Jul 22 2010, 10:42 PM

Great info. I wonder if Amanah takaful structure-linked investment is considered under TRB section as it didn't stated about it.

However, this account maintenance fee won't be enforced until January next year. So basically, it means that you do not actually need to come up with RM20,000 now to open this account.

And one more thing, i am not sure what will happen to your account if the TRB falls below RM20,000 for several consecutive months. Because for the Premier account, they will actually close your account and downgrade it to a regular savings or current account if you fail to meet the minimum TRB as required by HSBC 3 months later.


Yes. This will be taken in account when they calculate your TRB. I am 100% sure on this

Thanks again. I have tried to perform the application, together with the Platinum CC but it seem the card application is denied while the account application is accepted. Hmm..weird as it didn't explain with any reason.

Huh ? Perhaps you should pay them a visit and provide us an update ?

Sure. I will check out with them these few days and give you guys an update.

Miles, i currently have a homesmart account with the atm card and hsbc amanah ccard-i, i just know that i can use the ccard as my atm card to withdraw money from homesmart account, i want to ask is there any charges if im using ccard to withdraw money from my homesmart account and is there is a limit for the withdrawal? If there is no charges and limit im thinking to give them back the atm card just use the ccard

Sorry. Not sure about that

hi MilesAndMore, i just check out with HSBC branch near my staying area. I was being told that, the Visa Platinum Credit card does required payslip and other normal documents (same as other bank's CC application) with the condition of minimum annual income RM60,000.

What ? This wasn't mentioned anywhere in their website at all. They only stated that all you need is to be an Advance account holder and be at least 21 years old

Yea. I was arguing with the lady about this and no info stated in the website bute she said it's normal procedure for cc application. I was like stunned a while.

Well, you should have told her that the Premier account holders do not have to provide any proof of income at all to get the Premier MasterCard. So, if they really need us to provide proof of income to apply for the HSBC Advance VISA Platinum, they should at least make it clear in their brochure and website.

Have a look here

http://www.hsbc.com.my/1/2/personal-bankin...ard-eligibility

If you go through the link you posted again, you'll notice that they did not mention anything about the HSBC Advance VISA Platinum at all. As for the Premier MasterCard, you do not have to submit any documents at all besides the application form and a photocopy of your IC and you are eligible for the card as long as your maintain your Premier status.

Ah sorry, didn't see the Advance bit there.

With HSBC Premier it is really easy, if you have a qualifying balance in another country they don't ask for anything. I just applied for a card and it arrived in the post a week later - no hassle I don't even have any employment or so here

That's weird too. I don't see why Advance required document for its Visa card but Premier isn't. Perhaps, we can get more input from others who have approach them for this issue.

I have the same problem as liangko
I went to a HSBC Amanah branch 5 months ago to consult them about opening a basic savings account. However the female officer insisted that I must sign up for a takaful plan or else I cannot open the saving account.

Today I went to the branch to close the account and to my horror another customer officer told me it was not neccessary to open the takaful plan at all
Now I cannot get back the full value of my contributions according to their cash back value...
I have thought of making a complaint but the problem is that if I am to complaint, there is no evidence to show that she said it was compulsory to buy the takaful account in order to open the basic savings account..
I am only afraid that their complaints department will side their staff as there is no proof to show what she said

I really do not know how to proceed.
I am furious and feeling cheated of my money.
Can anyone suggest what to do??

As you said, you may not be able to make any claim at all due to lack of evidence. However, you should still file a formal complaint. If you still remember the name of the bank officer that told you to buy the Takaful plan five months ago, make sure you include that in your letter. Do update us here when you get a reply from them.

Anyone?

This post has been edited by tgrrr: Apr 12 2012, 10:44 AM

what is the different between hsbc and hsbc amanah ?

if i would like to open a current account ?

I suppose technically one is an Amanah account whereas the other is normal account? In daily use I think not much difference as you can access all the services at normal or amanah branches regardless.

I think it is just a way round for HSBC to open more branches in Malaysia by using Amanah. Same like what all the other foreign banks are doing - Standard Chartered, etc.

which account in hsbc is the most profitable?

Hi all,

I just opened new basic saving @HSBC today. I opened it because my father in law want to send me the money from CHINA. Is it possible for him to transfer to money into my basic saving account? I assume he using the premier or advance account.

why in the first place support this bank?
i had their savings account before that cost money to open, maintain, close account.
supposingly it is suppose to automatically allow me to open another hsbc account in uk for my studies money. kena cheated.

i had their credit card before. lousy service, poor points rewards, no waiver on annual fee

and now, they found out that lynas is using hsbc. more reasons to terminate relationship with hsbc!

my wife was denied to open savings account in HSBC USJ Taipan, they asked her to go to East coast since her mailing address is there.

is hsbc provide debit card? just like maybank. 2 in 1 card.

Actually I was conned by the officer too by signing up a takaful plan when opening a saving account. What will I get in the end of the contact? Can I get full amount back? Or is it better for me to surrender now which I definitely can't get the same amount back
Please enlighten me ..

Can.. But disadvantage is less hsbc bank msia..

Don think too much... Just walk in HSBC

Hello, So sorry for bumping old thread.
I'm foreigner and working in malaysia with permit. Currently i dont have HSBC account yet in any country.

Can i open any saving account in HSBC ? i prefer to open an account without any introducer and letter from company, as it's quite difficult to get signature from boss.

if cannot, is there any other bank recommendation for foreigner like me?

many thanks in advance

This post has been edited by altnive: May 7 2013, 11:36 PM

some question here, i opened a hsbc basic saving account at malaysia. im going to uk for a 3 month study, is it a good idea to open the foreign country saving account?
today i just saw that foreign country saving account, and i have apply for it through on9. any idea how to link the atm card to that account too? or i should go to the hsbc bank to finish the application? im a bit confusing here hehe.

Hi, did you manage to open a UK HSBC bank account?

Nowadays, is it still difficult to open a basic saving account with HSBC?

Basic account is not profitable to the banks. Therefore they might try to deny you or persuade you to get other types of account. Your options:

1) Insist on getting a basic account. You better come up with a good reason beforehand.

2) If rejected, try applying at a different branch. Even at the same branch, the outcome could be different, depending on the staff serving you. Some staff are more easygoing while others make it more difficult.

Hi a quick question. Is there any branch in selangor area open on saturday for me to open a basic saving account? Is hsbc amanah enable me to open a basic sabing account?

Hi all
Quick question there.
Anyone hv any idea or experience that if i could HSBC UK account through the HSBC malaysia?

Only if you are already a Premier Banking customer with HSBC MY.

From HSBC UK website:

Hi thank for the replying.
Any idea that if only want a UK account but no premier?
I was thinking, in the future if i closed the premier account in Malaysia then i still need to have fund to maintain the UK premier account, but for normal basic account i dont need to worry about that.

In general, UK banks do not open normal account for non-EU residents.
Some banks, through their international division, would open account if you are wiling to deposit a large amount with them.
For example:

1) HSBC Expat requires £50,000
2) Citibank UK requires £150,000
3) Lloyds Bank requires £25,000
4) Barclays Bank requires £25,000


As an alternative, the TransferWise Borderless Account is the closest option to a UK bank account for non-EU residents.
With this e-money account, you can receive/transfer GBP from/to any banks in the UK, at a reasonable fee (£0.65).
You can search this forum for other discussions on TransferWise (TW).