HSBC Premier Cash Management Account

HSBC Premier Cash Management Account

Maximum Variable Rate

0.45

Standard Variable Rate

0.45

Take advantage of all the prestige perks of a Visa platinum debit card with the HSBC Premier Cash management account.

  • Exclusive benefits from HSBC
  • Linked Visa debit card with complimentary insurance
  • Strict eligibility criteria apply

Product details

The HSBC Premier cards are part of the HSBC wealth management service. Your Premier debit card gives you access to global banking services, as well as being able to take advantage of personalised service and worldwide assistance. As a Premier debit cardholder, you can also access perks and benefits usually reserved for Platinum cardholders.

You also get a dedicated relationship manager for you and your family.

Product Name
HSBC Premier Cash Management Account
Maximum Variable Rate
0.45% p.a.
Standard Variable Rate
0.45% p.a.
Bonus Variable Rate
0.00% p.a.
Monthly Fee
$35
Minimum Opening Deposit
$1
Internet Banking
Yes
Internet Transaction Fee
$0
Phone Banking
Yes
Phone Transaction Fee
$0
Minimum Age Requirement
18
Maximum Age Requirement
No Maximum Age
Covered by Government Guarantee?
Yes (Up to $250,000 per person, per institution)

What are the features of the HSBC Premier cash management account?

  • Two HSBC accounts. You can select to have your primary savings account linked to the 'Savings' or 'Credit' button for ATM access and your secondary account linked to the 'Cheque' button. This way you'll know which account is being drawn from when you pay for items.
  • Use your own money. You won't be racking up credit bills or incurring huge interest charges on the amounts you spend using these options. Instead, your purchases are paid for from your own money.
  • Convenience of Visa. You're also able to use your debit card in the same way as a Visa card to pay for purchases online or over the phone. You can select the 'Credit' option at merchant outlets.
  • Access HSBC premier centres. HSBC offers you access to their globally-based Premier centres right around the world. You're able to discuss your needs with HSBC Premier staff, including getting them to help you find your way around new cities or towns. They'll happily assist you in finding the best places to eat, help you explore your destination to greatest advantage and much more. All HSBC Premier Centres also offer foreign exchange facilities. This lets you exchange cash in a broad range of currencies at very competitive rates.
  • Premier preferential pricing. This includes discounted interest rates off home loans, including investment loans and multi-currency rate market-linked home loans. Personal loans are also available at discounted rates. You're also able to benefit from discounted account fees on cash management accounts and term deposit accounts. You also won't pay any commission charges when you buy American Express traveller's cheques through HSBC Premier Centres.
  • International banking. HSBC Premier Debit cardholders are encouraged to take advantage of a broad range of international banking services. This includes opening accounts in different currencies, as well as taking advantage of preferential exchange rates on foreign currencies. Premier customers are allocated a Relationship Manager, who will walk you through practical solutions for your banking needs and financial requirements.
  • Personal concierge services. Being a HSBC Premier Debit cardholder gives you access to your own personal concierge. You can call your concierge at any time of the day or night to help you with anything you need. Ask your concierge to book concert tickets or sporting events, a table at a local restaurant no matter where you are in the world and even arrange for a cab to get you there. Your concierge is also available to help you with travel assistance, such as booking flights or hotel accommodation.
  • Zero liability. The Visa Zero Liability program ensures that you are covered against any unauthorised or fraudulent transactions on your account. As long as you can verify that you had no knowledge of the transaction and weren't involved in any way, you are at no risk of any loss.
  • Daily spending limits. Your Premier Debit card does have daily spending limit restrictions set on it. You are limited to a maximum spending amount of $10,000 if you use your card to pay for a Visa Debit purchase. If you're withdrawing cash from an ATM or as part of an EFTPOS transaction, you're limited to a maximum of $2,000 per day.
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Does complimentary insurances come with the HSBC Premier debit card?

When you are approved for a HSBC Premier Debit card, you're eligible for a range of complimentary insurance policies attached to your account. Some of the policies include:

  • Extended Warranty

    Use your debit card to pay for purchases and you could receive up to 12 months in additional warranty on top of the Australian manufacturer's original warranty.

  • Guaranteed Pricing

    You never need to worry about paying too much for any item again with Guaranteed Pricing insurance. If you use your HSBC Premier Debit card to pay for a purchase and you find the same item advertised at a cheaper price elsewhere, you could be refunded the difference. Keep in mind that the item in question needs to be available at a store within 25kms of the place at which you purchased the original item in Australia.

  • Purchase Protection Coverage

    Any personal items you purchase using your HSBC Premier Debit card may be covered against accidental damage, theft or loss for up to a maximum of 90 days.

  • International Travel Insurance

    Pay for your travel expenses using your Premier Debit card and you could be covered by a range of international travel insurance policies. These include coverage on your medical expenses incurred while travelling overseas, as well as coverage on damage or loss to your personal items. You may also be covered for travel delays or even travel cancellation. If you do become involved in an accident in a rental car when you're travelling overseas, the excess costs may also be covered under this policy. There is also a policy covering you for legal liability during your international travels.

Pros

  • Dedicated support and exclusive service from HSBC
  • Preferential interest rates and terms on products
  • Emergency assistance worldwide

Cons

  • Strict eligibility criteria apply

How do I apply for the HSBC Premier debit card?

You can apply for your Premier Debit card quickly and easily using the HSBC secure online enquiry form. Simply enter your details into the secure page provided and a Relationship Manager will call you at a time that is convenient for you to discuss your eligibility to become a Premier customer.

Eligibility for the HSBC Premier debit cards

In order to qualify for a HSBC Premier debit card, you will need to meet a range of criteria.

You will need to have a total aggregate borrowing amount of more than $500,000 (Australian dollar equivalent) in loans with HSBC. Alternatively, you can choose to verify that you have at least $200,000 in savings or investments instead.

However, if you have a combination of HSBC loans and savings or investments that add up to at least $500,000 in total, this will still be considered enough to qualify to become a Premier customer.

All HSBC Premier customers are expected to maintain a HSBC Premier Cash Management account.

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