Has the amount been consistent for the past 2 years? Is it in Fixed Deposits?

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Added on January 14, 2009, 10:00 pmHSBC is the only bank in Malaysia providing World Mastercard to their esteemed Premier banking customers.

To answer your 2nd question, there is no fee to close your Premier account. HSBC does not charge the RM 150 immediately when your balance drops, they normally give a grace period of 3 months to top up failing which they will begin to charge. Those who continuously have balance below 200k for 12 consecutive months will have their Premier status removed.

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Added on January 14, 2009, 10:01 pmYou can view your HSBC portfolio worldwide using their internet banking. If you're a Premier customer, there's an additional tab to view accounts maintained in foreign countries.

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Added on January 14, 2009, 10:03 pmThis is wrong. HSBC Premier customers in Malaysia are accorded the World Mastercard.

This post has been edited by mrcloud9: Jan 14 2009, 10:03 PM

Still not so sure ... May be yes, may be not. But isn't RM40k of credit line for a World Mastercard too low ? And the priviledges provided aren't any different to their Platinum Visa.

I seriously hope they would redesign their Premier Mastercard. It's like the most hideous designed exclusive credit card in the world.


Only if you close it within 3 months after opening, you'll then have to pay RM20.


I think it was tgeoklin and tinkerbell said the HSBC Malaysia issued Premier Mastercard isn't a "World Mastercard" in the last credit card thread ? Sorry if i quoted the wrong people.

Thank you for the answer.

Yes I agree that the CL of RM40k is low compare with RM200k that we need to deposit to open premiere account.

By the way, if I close the premiere account, I can open new premiere account later?

So long you meet the HSBC Premier account T & C. But i think if you open and close your Premier account very frequently they might just blacklist you and decline your next application as i believe they are looking for something long term. Besides, your RM won't be too happy if you open and close your Premier account frequently. So my advice is that if you have just RM200,000, you probably shouldn't open a Premier account first. Besides, who knows when they will revise the minimum deposit again for their Premier account. It could be very bothersome if they increase the minimum deposit then you'll have to change your account number this and that. I personally knows several people that have deposit inside HSBC that is much more than the minimum limit to qualify for Premier account but they still insist to stay on PowerVantage.

This post has been edited by MilesAndMore: Jan 15 2009, 10:23 AM

OK I understand. My main intention to open premiere account is to get their Premire Mastercard (World Mastercard). With this card I plan to apply other exclusive Credit Card.

You are right, we did said that and HSBC M'sia confirms as well. Maybe if given time, the Premier may be upgraded to WorldCard. For now the only Worldcard in M'sia are issued by CIMB and Mbf only per mastercard M'sia

Anyway, a recommendation, give UOB Midas Club a try if you truly want pampered services in M'sia but if its wordwide then, its definitely Premier though locally HSBC powervantage maybe an edge up for some

Looking at the types of Mastercard available in SEA here, if the Premier card is not a World card ...and it's definitely not gold or platinum... then is it a standard classic card?

Because I see the word "World" next to the Mastercard logo and based on the information available on the website, that's how you determine if you're indeed carrying a World Mastercard. Please correct me if I'm wrong.

Its a Plat card as HSBC does not have the franchise to issue Worldcard in M'sia yet but the design of their card was standardised worldwide, thus the misconception

This post has been edited by tgeoklin: Jan 16 2009, 07:24 AM

I just got called from public bank few days ago. They offer me red carpet banking.

For your Informations, I do not have much deposit in public bank.

but my car loan and also others facilities from there.

I just curious and ask, The lady from the phone tell me not necessary depositing money but loan/ investment also take count.

the end, I still reject.

reason, I normally just use either CDM,CQM, or ATM there.

Hardly go in there.

Did you ask them what are the benefits associated with PB "Red Carpet Banking" ?

they say similiar like norm other private banking such at special lane or can enjoy their facilities then

approval time are faster, and etc. at the end at conversation. She got ask me got any investment.

@Aggronax,
Public Bank's Red Carpet Banking is by far the easiest PB to obtain. If I ain't mistaken, U only need RM100k before U quality but the bank doesn't really do much to invite their customers. Mom's been banking with them for eons and it was only when i stumbled upon their website and this Red Carpet thingy that I told her and she went in asking for it.

Their Red Carpet centre's based only at Damansara Heights but what's good about having the card is that when u walk into any other PB branch, u do not need to queue. Just flash the card and u'll be next in queue

No other tangible benefits that I know of - don't even use it cause muahahah banking at PBB's done by mom!!

True , Actually beside no need queue and having a private room / place of transactions. There not much different upon, maybe I have not maximize the usage of the facilities.


drawback, time to time you will get annoying phone calls from them or sms or etc to ask to either invest/ buy insurance/ take loan or etc. Seem they never call up for check customer feedback upon their job / performance or etc.

You are right. It is the easiest.

I just received my mastercard platinum. In the booklet it mention something like the holder entitle for Red Carpet Banking Membership. Not sure whether they will give RCB card or not.

This post has been edited by GHz: Feb 16 2009, 10:37 AM

@Aggronax,
PBB has never called me with regards to any of those products U mentioned (investment, loans, etc) despite being a Red Carpet member with them over the last few years.

@GHz,
I'm not sure. I think PBB doesn't really take that much initiative to get customers to join their Red Carpet Banking Centre - more like it's there because it needs to be there. I qualified long ago but it was only when I went onto their website to get some information about something stumbled upon this 'benefit' thus asked to become a member!

@tinkerbel

if that the case, I will call them to ask about this. Do you RCB number to call or I just call my CC CS number? Look at PB website also could not find any information about this.

@GHz,
I told my mom about it (she does all my PBB banking for me) so muAHahAHhaHAh I left it to her.. I believe she spoke to the person at the counter and got a form to fill in.

do you get better housing loan rates if you are a private banking member?

None of the big commercial banks here in Malaysia offer private banking. Just the VIP banking such as HSBC Premier, Citibank Citigold and SCB Priority Banking. HSBC used to have a private bank here in Malaysia but pulled out a few years back.

erm.. that does not answer my question.