HSBC offers four chequing account options targeted towards high net worth individuals for different monthly fees depending on features like international access and number of transactions. To see if HSBC offerings best meet your needs, compare HSBC with chequing accounts from other providers. Comparing chequing accounts will ensure you find the account which costs the least based on your banking needs.
HSBC Premier Chequing Account
To be eligible for the HSBC Premier chequing account you must have $100,000 or more in personal assets with HSBC Bank Canada and its subsidiaries or pay the monthly fee of $28. A grace period of six months is given to new premier customers, in that time even if you don't meet the $100,000 “total relationship balance” you are not charged the $28 monthly fee. As an HSBC Premier account holder you will be provided with a relationship manager to help in your banking needs in addition to unlimited transactions and preferential rates on home mortgages, deposit products and credit solutions.
HSBC Advance Chequing Account
In order to be eligible for the HSBC Advance chequing account you must have $25,000 or more of eligible assets with HSBC Bank Canada or its subsidiaries, or a personal mortgage balance of $150,000 or more with HSBC Bank Canada. If you do not meet these requirements a monthly fee of $25 is charged. As an HSBC Advance account holder, you qualify for unlimited transactions and preferential rates on home mortgages, deposit products and credit solutions. The main difference between Premier and Advance is that in Premier you have access to a relationship manager while in Advance you do not.
HSBC Performance Chequing- Unlimited Account
The HSBC Performance Chequing-Unlimited provides unlimited day to day banking for a monthly fee. The monthly fee is reduced from $14.95 to $4.00 if you are a full-time secondary or post-secondary student. Overdraft protection, non-HSBC ATM use, and ATM use outside of Canada are not included in the monthly fee. Accounts can be held in either Canadian or U.S. Dollars.
HSBC Performance Chequing- Limited Account
The HSBC Performance Chequing-Limited provides 14 transactions per month for a monthly fee, which is waived for youths, students, seniors and Disability Savings Plan beneficiaries. Additionally, the account can be held in either Canadian or U.S. Dollars. Services not included in the monthly fee include overdraft protection, non-HSBC ATM use, and ATM use outside of Canada. Additional fees are charged for these services.