How a premium bank account can do more for your money

hanks to inflation, earning six figures isn’t what it once was, but it remains a key societal benchmark. At a little over three times the national average salary, £100,000 is still a reasonable – and conveniently round – measure of relative wealth. But research by HSBC UK reveals a paradox: nine out of ten people taking home this much or more do not consider themselves wealthy. Many of these individuals allocate more spend towards wellness and experiences over material acquisition, and view lifestyle as “the new luxury”. Catering to this crowd is the HSBC Premier bank account, which offers a range of wealth, health, international and travel benefits. It is available to those who earn £100,000 or more, and pay it into the account; those with £100,000 or more of savings or investments with HSBC UK or those who hold Premier status abroad.

Put your cash in the right place and enjoy exclusive financial tools, travel perks and health benefits – with no monthly fee

Premier perks Customers can enjoy travel insurance for the family†

“Premier customers rightly expect a heightened level of service – the name sets an expectation”

Find out more about HSBC Premier

How a premium bank account can do more for your money

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While HSBC UK’s research shows that 18 to 24-year-olds are becoming more comfortable discussing finances – nearly half say they enjoy talking about money, compared to just 3 per cent of over-55s – they are the most exposed to the guidance available from influencers or social media, which is not regulated and should be considered carefully. “It makes sense to have a holistic review of your finances with somebody who is regulated,” observes Fichaux, adding, “trust is one of today’s top societal trends and HSBC has been around for 160 years, so we’ve been building trust for a while.” The banking industry’s growing emphasis on pairing traditional values of trust, reliability and security with seamless, cutting-edge technology is partly driven by the rise of digital-only challenger banks. Fichaux believes they have had a broadly positive impact, saying, “Fintechs have made us think harder and be more demanding of ourselves in terms of the products and experiences we offer customers. “Premier customers rightly expect a heightened level of service because they have more money with us. The name itself sets an expectation – if you’re a Premier customer, you want to feel premier.”

The experience begins with the onboarding process. Customers can sign up in a branch, online or via the improved HSBC UK Mobile Banking app. All new UK-based Premier customers who are also new to HSBC will receive a welcome call to ensure they’ve onboarded smoothly and to check if they need any assistance, such as activating travel insurance or using their card. Premier account holders benefit from seamless, 24/7 customer service. They can access support online, via the app, on video calls and over the phone. When it comes to travel, Premier offers worldwide travel insurance that covers you and your family† – the account holder, their partner, children, even grandchildren. Customers may also opt for the HSBC Premier World Elite Mastercard – Representative 100.2% APR (variable) – which carries an annual fee.†† Travel perks include fast-track airport security, unlimited access to over 1,700 airport lounges (for the cardholder and any additional cardholders) and a reward points programme spanning a number of airlines, major hotels, leading retailers and more.

*HSBC Life Online Health Services are provided by Square Health. Certain limits and exclusions apply, appointments are subject to availability **Some limits and exclusions apply. Subject to availability ***Cancer Bereavement Cover is provided by HSBC Life (UK) Limited †Premier Worldwide Travel Insurance is provided by Aviva. Available for you, your partner and your dependent children and grandchildren. You must be aged under 70 and dependent children/grandchildren under 23. Other conditions, limits and exclusions apply ††Credit subject to status. Eligibility criteria apply. Available to HSBC UK Premier customers

Reflecting the growing focus on health, the Premier account provides access for the account holder, their partner and their dependent children under 23 to a range of health services.* This includes a remote GP, mental health counselling, an annual medical check-up via a home blood test, remote physiotherapy and the option to receive two second opinions per year.** For added peace of mind, customers who have held the policy for at least 12 months also receive cancer bereavement cover.*** HSBC Premier customers benefit from preferential rates and terms on savings and lending products, and access to Premier’s Global Investment Centre and Future Planner platform. This allows them to build a financial profile, set wealth aspirations and receive practical help to achieve their goals. One-to-one financial advice is also available – as an additional service – to HSBC UK customers with at least £100,000 to invest. This can help people assess their finances and explore potential routes to achieving their goals. There is no additional charge for initial consultations and no obligation, but advisers can prepare a detailed report with tailored product and service recommendations. This is restricted advice on a wide range of recommended products, hand-picked from selected providers including HSBC UK; fees may apply. And for those who prefer to go it alone, HSBC UK current account customers with online or mobile banking can explore a range of ready-made investment funds in their Mobile Banking app too (a minimum investment is required and the value of investments can go down as well as up; eligibility criteria and fees apply). In a world of increasing complexity, Premier’s blend of technology and human savvy offers “old-fashioned banking with modern tools, while meeting the specific needs of the affluent,” says Sabine Fichaux, head of experience design and delivery at HSBC UK Retail Banking and Wealth.

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people earning over £100,000 don’t see themselves as wealthy

SABINE FICHAUX HEAD OF EXPERIENCE DESIGN AND DELIVERY at HSBC UK retail Banking and wealth

Whether you’ve recently relocated to the UK, are working internationally, or have property or financial commitments overseas, HSBC Premier is designed to make managing money across borders as seamless as possible. Think fee-free instant transfers between international HSBC accounts to simplify relocation, and access to specialist support when purchasing overseas property (fees may apply). Regardless of whether they consider themselves wealthy, meeting the account’s eligibility criteria is the one thing all HSBC Premier customers have in common. The needs of someone with a young family differ from those of a recent retiree, yet both could benefit from a dedicated Relationship Manager. “Our message to every Premier customer is: wherever you are on your journey, we’re listening and we’re here to support you along the way,” says Fichaux. “We’re also trying to ease the burden. Beyond the level of service and financial benefits, what really sets Premier apart from the competition is that there’s no monthly fee. You’re getting rewards, healthcare, travel insurance and much more. Ultimately, Premier is designed to make you feel like you belong.”

“What really sets Premier apart from the competition is that there’s no monthly fee”

hanks to inflation, earning six figures isn’t what it once was, but it remains a key societal benchmark. At a little over three times the national average salary, £100,000 is still a reasonable – and conveniently round – measure of relative wealth. But research by HSBC UK reveals a paradox: nine out of ten people taking home this much or more do not consider themselves wealthy. Many of these individuals allocate more spend towards wellness and experiences over material acquisition, and view lifestyle as “the new luxury”. Catering to this crowd is the HSBC Premier bank account, which offers a range of wealth, health and travel benefits at no extra cost, plus it makes it easier to manage your money across borders. It is available to those who earn £100,000 or more, and pay it into the account; those with £100,000 or more of savings or investments with HSBC UK or those who hold Premier status abroad.

While HSBC’s research shows that 18 to 24-year-olds are becoming more comfortable discussing finances – nearly half say they enjoy talking about money, compared to just 3 per cent of over-55s – they are also the most exposed to unregulated social media influencers. “It makes sense to have a holistic review of your finances with somebody who is regulated,” observes Fichaux, adding, “trust is one of today’s top societal trends and HSBC has been around for 160 years, so we’ve been building trust for a while.” The banking industry’s growing emphasis on pairing traditional values of trust, reliability and security with seamless, cutting-edge technology is partly driven by the rise of digital-only challenger banks. Fichaux believes they have had a broadly positive impact, saying, “Fintechs have made us think harder and be more demanding of ourselves in terms of the products and experiences we offer customers. “Premier customers rightly expect a heightened level of service because they have more money with us. The name itself sets an expectation – if you’re a Premier customer, you want to feel premier.”

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