Q : Why does the Bank have a minimum TRB requirement?
A: At HSBC, we aim to provide high quality service to all our customers. In order to maintain the exclusivity and standards of HSBC Premier, we require a minimum
TRB to be maintained by all HSBC Premier customers.
Q : How is the TRB calculated?
A: TRB is the total average balance, calculated every calendar month, of HSBC bank accounts and investments in New Zealand. The TRB for individual accounts will include related joint and non-personal account balances. To protect our customers’ privacy, we will not include balances from individual accounts when calculating the TRB for joint accounts but we will include
non-personal account balances.
Q : What happens if the TRB falls slightly below NZ $100,000 due to market fluctuations? Will the Below Balance Fee be charged?
A: To allow flexibility for changes in the value of the portfolio, the Below Balance Fee will only be applied on accounts that have a TRB of more than 10% below the minimum balance requirement of NZ$100,000 (i.e. NZ$ 90,000 and below).
Q : When is the Below Balance Fee debited?
A: The Below Balance Fee will be debited on the 10th
of every month. For example, if the TRB for the month of January is below the minimum balance requirement, a Below Balance Fee of NZ$ 50 will be debited on 10th February.
Q : Which account will the Below Balance Fee be debited from?
A: The monthly Below Balance Fee will be debited from a
New Zealand dollar denominated transactional account.
Q : How will the Below Balance Fee be reflected in my statement?
A: The charge will be reflected as HSBC Premier Below
Can I opt to have my individual accounts included in my joint account TRB?
A: No, it is not possible to opt to have your individual
accounts included in your joint TRB.
Q : How much is the Below Balance Fee?
A: A monthly Below Balance Fee of NZ$ 50 will be charged if the TRB for the preceding month is below NZ$100,000.
Q : If one has a qualifying HSBC Premier account outside
New Zealand, but the HSBC Premier account in New Zealand does not meet the minimum balance requirement, will the Below Balance Fee be charged?
A: Customers who currently maintain Premier qualifying balances outside of New Zealand will not be charged the Below Balance Fee.
Q : What happens if the account has an overdraft facility and the account is overdrawn? Will the fee still be
A: Yes, the fee will be charged, and the overdraft interest will apply for the outstanding amount. If you do not have an overdraft facility, HSBC will not place your account into overdraft through charging the Below Balance Fee.
Q : I have a Premier Explorer Account. Will I be charged the Below Balance Fee?
A: No, Premier Explorer Account customers are exempt
from the fee.
Q : I am a home loan customer with HSBC in New
Zealand. Will I be charged the fee?
A: No, home loan customers are exempt from the fee.
Q : Where can more information be found?
A: Please contact our 24 -hour HSBC Premier banking hotline on 0800 028 088 (in New Zealand ) or call collect to
+1- 908 - PREMIER (from overseas), or speak to a HSBC Premier Relationship Manager. Alternatively, log on to www.hsbc.co.nz/premier for more information.