HSBC Premier first global retail bank to open in Kuwait
Posted on 12 April 2010 with no comments from readers
HSBC Premier has opened in Kuwait City, the first international bank to enter the formerly closed retail banking market in Kuwait. With this launch HSBC Premier banking centres are open in all six countries of the Gulf Cooperation Council.
The HSBC Premier service has become particularly popular with globally mobile expatriates as well as nationals looking for a convenient service that will follow them around the world on their travels. The bank is fully integrated with the global online systems of HSBC which also makes it a highly efficient Internet bank useful for switching amounts between HSBC accounts held in different countries.
Personal service
That said nothing beats the personal touch, and with 290 international HSBC Premier centres spread around the cities of the world, and more than 8,500 branches with Premier service points, there is almost always expert local assistance to hand wherever you happen to be visiting. This is especially useful when trying to sort out payment issues in the GCC while on vacation in Europe, for example.
HSBC Premier offers seamless cross-border banking with the promise that customers can, for the first time, take their accounts, credit history and banking relationships with them wherever they choose to live and work.
Many advantages
Premier accounts can be opened in local as well as foreign currencies with customers having access to global emergency cash assistance. Customers can also benefit from access to overdraft facilities without arrangement fees as well as a range of wealth management services.
To open an HSBC Premier account customers must have a total of $100,000 invested or deposited with HSBC, and balances held in the GCC also avoid certain account charges in other parts of the HSBC banking network. Global transfers within the HSBC network are free, as are ATM transactions anywhere in the world. There is no fee on any current account in any currency.
Only Citibank really comes close to matching the HSBC Premier offering but its geographic spread is strongest in North America and weakest in Europe, while HSBC Premier is the other way around. Opening in Kuwait City this week completes the HSBC Premier network in the Gulf States.
