When you travel, it’s obviously important to be able to pay for whatever it is you need whenever you need it. Sometimes, that’s going to be with the right credit card. Other times, especially in certain countries, you’ll find yourself in a cash-only situation.
It’s important to have not only a good card that doesn’t charge foreign transaction fees but also a bank that can handle your day-to-day financial needs from anywhere in the world since financial needs go beyond just credit cards — even on vacation.
HSBC is a bank that spans the globe with 21 locations in the U.S. and even more in countries around the world. When you open an HSBC Premier checking account, you can access your money from anywhere in the world.
If you’re in the market for a bank that can meet your needs both at home and when you’re thousands of miles away, here’s what you need to know about the HSBC Premier checking account and how you can open one today if you decide it’s a good fit.
Related: How to save on ATM fees when traveling overseas
HSBC Premier checking — a next-level experience
Having an HSBC Premier checking account means having an HSBC Premier relationship.
To start, that means, depending on your total deposits with the bank, you could get access to wealth products from an HSBC Wealth Relationship Manager, have the ability to move money domestically and globally, and receive recognition of your HSBC Premier status around the world.
With an HSBC Wealth Relationship Manager, you could get concierge-like banking services with no fees and appointments to help you with your long-term banking needs.
As an HSBC Premier account holder, you’ll also receive other perks, such as preferential home loans and mortgage rates.
Why an HSBC Premier checking account is an appealing option for travelers
Having an HSBC Premier checking account can make sense for the frequent traveler, especially one who keeps a large amount of money in their checking account.
Since each HSBC Premier checking account comes with the ability to order an HSBC Premier Debit Mastercard that does not incur foreign transaction fees, you can make payments overseas in currencies other than U.S. dollars without worrying about paying more to use your card. While we typically recommend paying with a credit card when you travel, HSBC’s debit card is a solid alternative for some situations.
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If you need cash while traveling internationally, you can also use your debit card for surcharge-free withdrawals at HSBC ATMs worldwide. You won’t find these in every country, but there are thousands globally, including over 500 in the United Kingdom, 40 in Australia and almost 200 in China, so chances are you can locate one near you. If there’s no HSBC bank around and you’re in the U.S., you can use one of the five fee waivers per month you’re eligible for at non-HSBC ATMs.
HSBC Premier members also get fee-free transfers of up to $200,000 per day to linked international HSBC accounts.
Related: Things to know about foreign transaction fees
Save more and get rewarded more
HSBC Premier checking account holders can get a higher annual percentage yield by linking their account to an HSBC Premier Relationship Savings account.
To qualify for this savings account, you must meet one of the following criteria each month:
Spend $500 or more in either purchases or payments, not including ATM withdrawals, on your HSBC debit card that’s linked to your account
Receive $5,000 or more in qualifying direct deposits into your linked HSBC Premier checking account
Have an HSBC U.S. residential mortgage loan with an original loan amount of at least $500,000
Hold Premier Elite status
How to apply for an HSBC Premier checking account
To qualify for an HSBC Premier checking account, you need to have at least one of the following:
At least $75,000 in total deposits and/or investments
At least $5,000 in total direct deposits per month
A U.S. residential mortgage loan with an original loan amount of at least $500,000
You must be 18 years old with a Social Security number, a U.S. mobile number and (for at least the past year) a U.S. residential address.
Bottom line
The HSBC Premier checking account can be a good option for frequent travelers who have large deposit accounts and want to move their money around easily while in the U.S. and abroad.
If you think an HSBC Premier checking account might be a good match for your needs, you can apply and begin your relationship with a worldwide financial institution today.