Since they require a minimum TRB in cash or investments, can I place there some stocks with a transfer from IBKR?
HSBC Premier Lifehack
- Thread starter Overtrade
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Btw, HSBC Expat is only︂ available for residents in certain countries.
"Unfortunately, based on your country of residence, we are︃ unable to offer you an account with HSBC Expat."
"Unfortunately, based on your country of residence, we are︃ unable to offer you an account with HSBC Expat."
You can check on their website which countries are allowed.
Here:
https://expatexplorer.hsbc.com/apply/
Here:
https://expatexplorer.hsbc.com/apply/
I took another look and found in the Turkish version of the FAQs:
In English:
It would be good to clarify whether the deposit is excluded from insurance if the credit institution is set up for︀ offshore banking or if the account is set up for offshore banking (as we are︁ discussing here).
By the way, the insurance amount has increased to TRY 950,000 since 01/2025.︂ (This information is only found on the Turkish version of the webpage)
Does anyone know︃ whether a stock portfolio in Turkey counts as special assets in the event of a︄ bank bankruptcy? In some parts of the world this is the case, but I couldn't︅ find anything about Turkey.
In English:
It would be good to clarify whether the deposit is excluded from insurance if the credit institution is set up for︀ offshore banking or if the account is set up for offshore banking (as we are︁ discussing here).
By the way, the insurance amount has increased to TRY 950,000 since 01/2025.︂ (This information is only found on the Turkish version of the webpage)
Does anyone know︃ whether a stock portfolio in Turkey counts as special assets in the event of a︄ bank bankruptcy? In some parts of the world this is the case, but I couldn't︅ find anything about Turkey.
Yes. But upon account opening, I was honest with them and told them that I need the account for local payments due to my presence in Türkiye and my economic activities there.
Most often they belong to the owner and not to the bank or broker and thus︀ are not part of the bankruptcy.
Most often they belong to the owner and not to the bank or broker and thus︀ are not part of the bankruptcy.
This question had been asked 2 times in this thread, but not yet answered (and I also don't know).
It would really be nice to know, what can I do with the money deposit? In my case, I want to invest in the stock market or transfer my existing portfolio to them. This question is also still open for the Barclays IOM (see other thread). The websites really don't give much information about this. I sent an email to︀ both (HSBC Jersey and Barclays IOM) and await feedback. Will let you know also here︁ once any news arrive.
It would really be nice to know, what can I do with the money deposit? In my case, I want to invest in the stock market or transfer my existing portfolio to them. This question is also still open for the Barclays IOM (see other thread). The websites really don't give much information about this. I sent an email to︀ both (HSBC Jersey and Barclays IOM) and await feedback. Will let you know also here︁ once any news arrive.
I think︀ either, we do not understand the question or I do not understand the answer. But︁ from HSBC US
https://www.us.hsbc.com/investments/products/self-directed-brokerage/
https://www.us.hsbc.com/investments/products/self-directed-brokerage/faq/
I guess the︈ rules are similar anywhere and you can move your assets in and out (probably with︉ some fees).
https://www.us.hsbc.com/investments/products/self-directed-brokerage/
https://www.us.hsbc.com/investments/products/self-directed-brokerage/faq/
I guess the︈ rules are similar anywhere and you can move your assets in and out (probably with︉ some fees).
That's not what I (we?) mean. The question is: does the investment in HSBC Securities count as deposit requirement to qualify permanently for Premier/Expat status?
Or another way to ask: the 100 k GBP deposit requirement for HSBC Expat, what I can do with that without loosing the Premier/Expat Status? Can I transfer that to HSBC Securities and invest in stocks?
Or another way to ask: the 100 k GBP deposit requirement for HSBC Expat, what I can do with that without loosing the Premier/Expat Status? Can I transfer that to HSBC Securities and invest in stocks?
You should ask HSBC, but as far as I know, yes. But then again, their fees are high. If I remember correctly, the charge a fee based on AUM, and then their fees for trading are high as well.
Does that product count for HSBC Gold? I just recall seeing a larger table with all kinds of fees. Maybe they have different fees for different markets? Interestingly, if you are an HSBC UAE client, it seems like they will give you an account with IBKR UK...? Would that count then...?
I think it counts for HSBC Premier with HSBC Expat. There are different accounts in different markets. The Sharedealing also exists in UK but with a quarterly fee of £10.95 or something. US seems to be also quite cheap:
https://www.expat.hsbc.com/content/...king-and-private-banking-terms-conditions.pdf
https://www.expat.hsbc.com/content/...king-and-private-banking-terms-conditions.pdf
I talked︀ to HSBC. The minimum deposit requirement is only fulfilled as long as you hold the︁ money within the Expat/Premier account. That account offers also investments, but own stock trading is︂ not possible. Automatically, position transfer is not available. It is simply not a broker account.︃ You can only choose by a range of investment products HSBC offers. Further information and︄ details can't be given by the hotline, because they simply don't know (I believe them).︅ Once the account is opened and the Relationship Manager had been assigned, more information might︆ be available, but not in advanced.
I hope this helps someone. I am still not︇ sure yet if I want to go that way. The offered investment products within the︈ Expat Account are probably quiet expensive and inflexible. I prefer to be my own investment︉ manager and choose stocks / ETF by myself. But maybe it's worth it for the︊ advantages I get to let HSBC manage 75 k of my wealth.
By the way:︋ I also talked to Barclays, and for them I received more or less the same︌ answer.
I hope this helps someone. I am still not︇ sure yet if I want to go that way. The offered investment products within the︈ Expat Account are probably quiet expensive and inflexible. I prefer to be my own investment︉ manager and choose stocks / ETF by myself. But maybe it's worth it for the︊ advantages I get to let HSBC manage 75 k of my wealth.
By the way:︋ I also talked to Barclays, and for them I received more or less the same︌ answer.
T
thomasparra
Guest
HSBC Expat: The relationship balance does not take into account the Sharedealing investments. I know this from personal experience and talking with many different people at the bank. Only current/savings and HSBC managed investments count towards it (they all take 1-2% in fees + also entry fees I believe). Your call to decide if giving them GBP 75k is worth it to you. The only benefit for me is to bank in 3 countries under the same roof, which makes collecting local payments (rent etc) and paying credit card bills rather easy. I don't see many advantages besides this.
However they are winding down from many countries and in Europe and they only have a retail presence in UK, Malta and Switzerland now. They are all three part of SEPA.
However they are winding down from many countries and in Europe and they only have a retail presence in UK, Malta and Switzerland now. They are all three part of SEPA.
HSBC Expat: The relationship balance does not take into account the Sharedealing investments. I know this from personal experience and talking with many different people at the bank. Only current/savings and HSBC managed investments count towards it (they all take 1-2% in fees + also entry fees I believe). Your call to decide if giving them GBP 75k is worth it to you. The only benefit for me is to bank in 3 countries under the same roof, which makes collecting local payments (rent etc) and paying credit card bills rather easy. I don't see many advantages besides this.
However they are winding down from︀ many countries and in Europe and they only have a retail presence in UK, Malta︁ and Switzerland now. They are all three part of SEPA.
However they are winding down from︀ many countries and in Europe and they only have a retail presence in UK, Malta︁ and Switzerland now. They are all three part of SEPA.
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