HSBC Premier in UAE - worth it?

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HSBC Premier in UAE - worth it?


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Old 30th August 2019, 03:46 PM
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Default HSBC Premier in UAE - worth it?

Hello. I am a British guy due to relocate to UAE. I hold a HSBC Premier account in the UK.

I read many horror stories about HSBC in UAE, however I was wondering if it is worth it opening a HSBC Premier account in UAE over a standard account with a local bank.

My earnings somewhat below the eligibility criteria of other Premium account offerings (monthly AED 27K salary + 15K housing)

The main attractive option with HSBC Premier is the instant free funds transfer (remittance) from my UAE AED account to my UK account.

I was wondering, given the lack of international transaction fees and online convenience, how do exchange rates for HSBC Premier account holders compare to Exchange shop or other online exchange rates?

Also, I would appreciate it if you could tell me which service providers offer the best rates for AED transfers to a UK bank account (GBP)?

Thank you!

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Old 30th August 2019, 05:18 PM
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If you have a UK Premier account, you'll get one here automatically.

Local exchange carriers are cheaper, but if you want to spend your time getting cash out and standing in the queues, then its up to you.

There are horror stories about every bank in every country - personally, I'v never had a problem with HSBC.
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Old 31st August 2019, 08:19 AM
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I have HSBC premier and have never had an issue except for a short period of time years ago where a couple of international transferred were delayed but I do not have a US HSBC account.

I used to use their free airport lounge service in the GCC and it was good at the time but switched to an Emirates CITI card for most of my spending now. The Airmiles with HSBC seems to take a while to accumulate.
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Old 31st August 2019, 08:22 AM
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Forgot to mention you get a free version of the Entertainer App that has a lot of two for one deals, I use that quite a bit.
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Old 5th September 2019, 11:01 PM
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Again Iíve had no issues with HSBC Premier here, all round pretty good.
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Old 19th September 2019, 03:46 PM
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Thank you all for your answers. I will open a HSBC account before arriving in the UAE using their Premier international accounts option from UK. As I am already a Premier account holder, I would not be required to necessarily remit my income/salary. I can choose one of the local banks to keep another account in parallel if I have any issues later on. I appreciate your comments, HSBC.ae appears to be a good choice. Their Premier/Black/Cashback credit cards seem decent deals too.

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Old 19th September 2019, 05:32 PM
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Quote:
Originally Posted by ariskar View Post
Thank you all for your answers. I will open a HSBC account before arriving in the UAE using their Premier international accounts option from UK. As I am already a Premier account holder, I would not be required to necessarily remit my income/salary. I can choose one of the local banks to keep another account in parallel if I have any issues later on. I appreciate your comments, HSBC.ae appears to be a good choice. Their Premier/Black/Cashback credit cards seem decent deals too.
Whilst you only need to meet the salary criteria in one country, Iím pretty sure you will still need to go into HSBC in UAE with all the required documentation to open the account completely (I did), itís a fairly painless process once you have your ID, visa etc. Iím pretty sure that all you can open from the UK is a basic account with no cards but I could be wrong.

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Old 24th September 2019, 08:36 AM
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HSBC in the UAE sucks.
and that's all I have to say about that!
hope you find it helpful :-)
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Old 24th September 2019, 02:29 PM
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Quote:
Originally Posted by Kamran Armin View Post
HSBC in the UAE sucks.
and that's all I have to say about that!
hope you find it helpful :-)

Very informative.... thanks

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Old 24th September 2019, 03:34 PM
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Quote:
Originally Posted by UKMS View Post
Whilst you only need to meet the salary criteria in one country, Iím pretty sure you will still need to go into HSBC in UAE with all the required documentation to open the account completely (I did), itís a fairly painless process once you have your ID, visa etc. Iím pretty sure that all you can open from the UK is a basic account with no cards but I could be wrong.
Thanks UKMS. I already have Premier in the UK, hence won't be assessed for UAE by local criteria.

I applied for an account using the link above and they arranged a phone call followed by a branch visit to submit documents in my local branch in the UK before moving to UAE.

They said if I submit enough documents (offer letter + employment visa + passport) they will open a UAE current bank account with debit card and online/mobile payments ability. I will pick up the card upon arrival (Dubai airport meet and greet or Abu Dhabi in branch). After getting residence visa and Emirates ID, a check book and Credit card(s) can be also issued in branch.

This is particularly useful for the first month in UAE till all paperwork formalities are processed, as monies can be transferred with Global View (GV/GT) and the debit card used for local expenses.

I will update you with my progress on this, still pending those UK meeting/interviews.

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