HSBC market themselves as ‘the world’s local bank’ because they are affiliated and connected to banks throughout the world, they have a global presence and as one of the world’s leading banking institutions they go out of their way to make their accounts and services accessible for all of their clients whether domestic or international.
One of the institution’s most success areas of development is in international banking and as a result the HSBC offshore bank account is one of their most exciting, dynamic and in demand products. We take a closer look at the offshore account types available from HSBC for the benefit of our international readers seeking independent information about the best offshore bank accounts available to them.
Before we begin it’s essential to note that whilst HSBC is a respected banking institution their accounts are not necessarily suitable for everyone and we do not seek to recommend or oppose their services to our readership, rather we seek to provide factual information about services provided by HSBC offshore banking together with analysis of and personal opinion about the account types available.
HSBC understand that an international or offshore bank account is applicable to those who reside overseas, who are planning to move or retire to live abroad, for those with business, real estate or personal commitments in more than one country or for those who reside in a nation which is politically or economically unstable. They therefore make sure their offshore personal accounts meet the needs of all the people who fall into these categories.
The main emphasis of the HSBC offshore bank account for individuals is therefore flexibility and accessibility. People in the above categories may require the ability to transact, withdraw and deposit funds in multiple currencies for example which is why there are sterling, US dollar and Euro accounts available as well as certain account structures specifically designed for those requiring exposure or access to currencies such as the Australian, Canadian, or Hong Kong dollars, Danish or Swedish Krone, the Japanese Yen, Swiss Francs etc., etc.
In terms of accessibility all HSBC offshore bank account holders are given full online access as well as telephone access to account information and transaction services; it is also possible to have a fax mandate attached to an account for those who prefer to do business accordingly.
For those who open basic sterling, US dollar or Euro accounts there are no establishment fees, and to avoid having to pay a monthly operating charge customers should try and keep a minimum of GBP 5,000 (or currency equivalent) in their accounts. In terms of fees for other services, basically the more complicated the structure the more fees will be charged but for those who regularly make international ATM withdrawals or who require cheque facilities etc., there are specialist accounts available that reduce or remove attributed fees.
One of the main benefits available to international HSBC customers is their ability to access the expertise of the bank’s wealth managers and financial advisers – naturally enough while the advice they give will be independent the products they recommend will have an HSBC emphasis so those requiring information about the entire financial market place may be best advised to combine the HSBC adviser’s findings with those of an international independent financial advisers to determine which products really do entirely suit their needs.
Please note…HSBC has made an important announcement to their offshore/international customers…you can read more here ‘HSBC Offshore - Important Announcement’
