Gabgoeshome

Well the title says it all lol !

Would that work ?

We still have our UK bank account ,but we were a little dissatisfied and would like to start over


Thank you .

workhouse

My recent experience (in Canada) is no. You'll get a local account, if its Premier or Advance, you can have US$ & GBP sub-accounts and HSBC will assist in the setup of the same type of account in the UK (we didn't have one). Then using their Global view feature, can link the lot together and xfer between accounts yourself, but they'll remain distinctly separate accounts. You'll find there is a lot of paperwork that needs signing here mailing back-and-forth, delays, misunderstanding and unnecessary BS though that might have something to do with the clueless local relationship manager and div of equality over there with whom I got lumbered

Mummy in the foothills

I've had that same question.
I didn't want one of their fancy international accounts that cost money, just the plain old account, then open a UK one once back and transfer the money over to that account. I have HSBC Credit card in the US.
I've read and re read online but can't seem to find the answers to all my questions really.

Edited after reading workhouse's experience maybe I'll just stick to sending all the money by xe.com after all.

Nyz

I was able to open a USD account here and a GBP account in the UK through HSBC. I was able to transfer my dollars online to the the UK account without any problems. It didn't take too long to do and I get monthly statements mailed to me here from the UK.

airways

If you bank with the premier side of the bank rather than the standard side then they will handle everything for you including sorting out both credit and debit cards and linking everything together so you can deal with it in a consolidated manner.

john5655

HSBC will set up the new account free of charge too

If you are Premier in USA, for example, you can set up the new account in UK as a Premier account without having to meet the UK Premier account minimum deposits

and another really good advantage of this is that you are then are able to make transfers between accounts using global view with just a click of the mouse and with no bank charges at either end

Gabgoeshome

I just checked that premier account ,it appears one needs to keep $$$$$$ in there for those benefits ?

I might have been half -asleep when I looked lol can anybody give anymore details please ?

airways

I am not sure what the US requirements are but yes, it does require quite a wedge of change to be kept with them to get the premier service. However I can tell you the service is excellent.

Bevm

I believe you can buy premier status with a monthly fee. It might be a bit steep, but you could check the rules about concelling. It might me worth paying for it for 6 months or so to avoid a lot of hassle.

This is just wild speculation, though!

Bev

johnh009

Rather than using a bank to transfer your money, it is better to use a currency transfer company as you will get a much better exchange rate. I used HiFX (they have an advertising banner on this site) and found them very efficient:

http://www.hifx.co.uk/personal.aspx?...lientagentid=0

johnh009

You must keep a balance of 50,000 GBP minimum in investments, or have 100,000 GBP income paid into your account, or a mortgage of at least 300,000 GBP (with the HSBC) to qualify for free HSBC Premier banking in the UK.

http://www.hsbc.co.uk/1/2/personal/c...er/eligibility

Schbang

In my experience quite a lot was saved by tranferring foreign currency with a specialist company such as http://www.sgm-fx.com/, who have served me very well, instead of the rates and fees offered by HSBC and the like.

SomersetGirl

I am in the process of doing this from Canada. I have a GBP account and a Cdn $ account with HSBC in Canada and if I keep a minimum balance of $25,000 in total, my Manager here in Canada can open an account in the UK for me for a $100 one time charge. There are no service charges on the UK account and I can transfer money online between the accounts for approx $7-$9 per transfer. If your balance drops below $25,000 there is a monthly fee charged of I think $20 or $25. There is a grace period of 3 months to building up your balance to $25,000. As I am just starting the process, I can't definitely tell you whether it will work well, but I'm gonna give it a shot. Hope this helps.

SomersetGirl

Is there a fee for using this service?

johnh009

If you have UK and Canadian HSBC accounts, you can log onto your account, switch to "Global View" and then transer the money online yourself between accounts, free of charge. Also, HSBC exchange rates are not the best. As mentioned previously, it is better to use a currency exchange company.