As an existing Expat customer, can you tell me more about the changes you're making to your Wealth Private Banking service and how they will benefit me?
We're always working on improving the way we serve our customers. Currently, we're gradually transitioning towards a more streamlined and simplified Wealth Private Banking service, which focuses on three core groups of customers and clients - Personal Banking, Premier, and Global Private Banking. This will enable us to continue providing you with world-class everyday banking services and exclusive tailored products, thus empowering you to better meet your financial goals.
There are no changes to your service currently, and you'll continue to receive the same great benefits. We'll contact you if we feel you would benefit from the services offered in a different client group than the one you are currently in.
As an existing Global Private banking client, can you tell me more about the changes you're making to your Wealth Private Banking service and how they will benefit me?
We're in the process of streamlining and simplifying our Wealth Private Banking service, in order to best cater to all our customers and clients. As an existing Global Private Banking client, you'll see improvements to our service offering over the coming year, including access to even more resources and expertise across all of your investment and legacy planning needs in key financial centres around the world.
There are no changes to your service currently, and you'll continue to receive the same great benefits. If we do need to get in touch with you, your Relationship Manager will contact you directly.
As an existing HSBC Personal Banking customer, are you making any changes to this service and do I need to take any action?
We're always working towards improving the way we serve our customers. Currently, we're gradually transitioning towards a more streamlined and simplified Wealth Private Banking service, which focuses on three core groups of customers and clients - Personal Banking, Premier, and Global Private Banking. This will enable us to continue providing you with world-class everyday banking services and exclusive products, thus empowering you to better meet your financial goals.
There are no changes to your Personal Banking service currently, and you'll continue to receive the same great benefits. If we do need to get in touch with you, we'll contact you directly.
Why is HSBC making this change?
We're looking to streamline the full range of world class wealth services we offer, with the objective of becoming a fully aligned and integrated Wealth Private Banking business. By both expanding and simplifying our Global Private Banking and Premier services, we aim to better serve the specific wealth and personal banking needs of all our individual customers, no matter where they sit on the wealth spectrum. We aim to achieve this by adopting and moving towards a more streamlined and simplified model for Wealth Private Banking, focusing on three core groups of clients and customers - Personal Banking, Premier, and Global Private Banking.
I'm an existing Expat customer, what does this change mean for me?
Any changes to your service will depend on how much wealth you hold with HSBC.
If you hold less than £1.5m GBP with us as an existing Expat customer, you'll continue to receive the same great benefits as you do currently. If you'd like to invest further with us or are interested in finding out more about our Global Private Banking service, please contact your Relationship Manager who'll be happy to assist.
If you hold more than £1.5m GBP with us - we'll be introducing a new range of products and services to you under our Global Private Banking service offering. This includes access to the investment and advisory services already offered to our existing Global Private Banking customers.
Will my Relationship Manager change?
If you're already a Global Private Banking client, we have no plans to change the team or Relationship Manager who work directly with you, nor will we be altering the services they provide.
If you're among those being invited to our Global Private Banking offering - in order to best provide you with the exclusive tailored range of world-class products and services that Global Private Banking offers, your Relationship Manager may change. If so - you'll be introduced to your new Relationship Manager when you're invited to join Global Private Banking.
What can I expect in the future? Are my products and services changing?
Our aim is to provide you with greater and more relevant digital, wealth and personal banking capabilities to support all our clients' needs seamlessly. To achieve this, we are continuing to invest in our Wealth and Private Banking business - moving towards a more streamlined and simplified model that best supports the needs of all our clients, no matter where they sit on the wealth spectrum.
Any future changes will affect you differently, depending on whether you are a Personal Banking or Premier customer, or a Global Private Banking client. As we improve our products and services over time, we'll contact you to discuss how you might benefit from enhancements to your wealth products and services.
Your current Debit card will stay the same for the moment for all of our Wealth Private Banking services, working as normal and with the same PIN and withdrawal limits. We are committed to our long-term sustainability goals and so will not send out new cards unnecessarily. However, we are preparing a new Global Private Banking debit card, which will be issued to Global Private Banking clients on expiry of your old card.
Can I opt out of joining Global Private Banking if I qualify for this service?
Yes - if you are an Expat customer being invited to Global Private Banking and do not wish to join, you can request to opt-out and remain with your current service.
How will this affect the processing of my personal data?
Your personal data will continue to have the same safeguards and protections, regardless of whether you're a Personal Banking or Expat customer or transition to Global Private Banking. Your privacy and security will continue be prioritised.
For those customers moving to Global Private Banking, you will be issued a new privacy notice once the transition is complete, reflecting the range of extra products and services offered by Global Private Banking. The new privacy notice is available here should you wish to read it in the meantime - Private Banking Privacy Notice.
If you decide not to transition to Global Private Banking or continue to hold Personal Banking or Premier products following your transition to Global Private Banking, this will be covered under the existing Expat Privacy Notice.
I'm joining Global Private Banking. What do I need to provide?
The provision of our Global Private Banking products and services are required to meet local Regulator standards. We will work with you to upgrade your account to meet these standards. Your dedicated Relationship Manager will contact you to explain the process.
Our products and services are subject to satisfactory on-boarding to Global Private Banking and acceptance of terms and conditions.
Will the terms and conditions of my account(s) change?
We're currently making changes to our banking terms and conditions. Once those changes happen, all Personal Banking, Expat and Global Private Banking bank accounts will move onto the same new terms, so you won't notice any change if you join Global Private Banking after the effective date. If you're joining Global Private Banking before the effective date, the current Global Private Banking terms will apply to any new Private Banking accounts you open during the interim period. For more information, visit: Expat T&Cs, Global Private Banking T&Cs or Personal Banking T&Cs.