Qualifying for HSBC Premier

HSBC reserves the right to charge a Premier Service Fee (formerly known as a Below Balance Fee) as set out in the Retail Banking and Wealth Management Fees and Charges brochure (PDF, 639KB)1. The following explains how we determine the application of the Premier Service Fee. We assess this by reference to the Total Relationship Balance (TRB).

To qualify for HSBC Premier you will need:

  • A minimum value of NZD500,000 in home loans with HSBC in New Zealand (facility limit not outstanding balance); and /or
  • A minimum value of NZD100,000 in savings and investments with HSBC in New Zealand; and /or
  • If you’re an overseas HSBC Premier customer, you’ll automatically qualify for Premier customer status in New Zealand

1Note, all Premier Explorer customers and customers with an HSBC New Zealand home loan will be exempt from the monthly fee.

Premier service fee

The Premier Service Fee of NZD15 is charged monthly, to Premier customers who do not meet the HSBC Premier eligibility criteria in relation to their TRB.

The Premier Service Fee is not charged to non-personal accounts, Premier Explorer customers and Premier customers with an HSBC New Zealand home loan.

Calculating TRB and its relevance

  • TRB is made up of average monthly balances, taking into account transaction and savings accounts and term deposits held with The Hongkong and Shanghai Banking Corporation Limited in New Zealand.
  • The TRB of your individual account will include the balances from your related joint account. To protect your privacy, we will not include individual account balances when calculating the TRB for joint accounts. This means that joint accounts will need to maintain separately the minimum TRB.
  • The balances of qualifying non-personal accounts will be included in the TRB of the Premier relationships to which they are associated.
  • For the purposes of calculating your TRB, balances held in non-personal accounts will be treated in the same way as balances held in joint accounts. Customers can contact their relationship manager to confirm which accounts are associated together.

Calculating TRB

TRB includes:

  • Credit balances for transaction and savings accounts and term deposits.
  • TRB calculations do not include home loans or other loans.
  • If your TRB falls below NZD100,000, and if no other HSBC Premier qualifying criteria has been met in New Zealand, or if you do not meet qualifying criteria in any another Group office, a monthly Premier Service Fee of NZD15 will be charged.
  • If your TRB falls below NZD100,000 continuously for more than 12 months, HSBC Premier benefits may be withdrawn.

Examples to illustrate TRB

Example 1: Calculating TRB for customers who hold individual, joint and non-personal accounts
Customer Name Account Type Average Account Balance for the Month TRB for the month
Premier Service Fee
Mr A & Mrs B Joint $60,000 NZ$85,000 (joint + non-personal) $15
Mr A Individual $50,000 NZ$135,000 (individual + joint + non-personal)
Waived – Qualified
Mrs B Individual $100,000 NZ$185,000 (individual + joint + non-personal)
Waived – Qualified
A&B Trust Non-personal $25,000 NZ$25,000 (non-personal only) Fee not applicable to non-personal accounts
Example 1: Calculating TRB for customers who hold individual, joint and non-personal accounts
Customer Name Mr A & Mrs B
Account Type Joint
Average Account Balance for the Month $60,000
TRB for the month
NZ$85,000 (joint + non-personal)
Premier Service Fee $15
Customer Name Mr A
Account Type Individual
Average Account Balance for the Month $50,000
TRB for the month
NZ$135,000 (individual + joint + non-personal)
Premier Service Fee Waived – Qualified
Customer Name Mrs B
Account Type Individual
Average Account Balance for the Month $100,000
TRB for the month
NZ$185,000 (individual + joint + non-personal)
Premier Service Fee Waived – Qualified
Customer Name A&B Trust
Account Type Non-personal
Average Account Balance for the Month $25,000
TRB for the month
NZ$25,000 (non-personal only)
Premier Service Fee Fee not applicable to non-personal accounts
Example 2: Calculating TRB for customers who hold Individual and non-personal accounts
Customer Name Account Type Average Account Balance for the Month TRB for the month Premier Service Fee
Mr A Individual $60,000 NZ$85,000 (individual + non-personal) $15
Mrs B Individual $100,000 NZ$125,000 (individual + non-personal) Waived – Qualified
A& Trust
Non-personal2 $25,000 NZ$25,000 (non-personal only) Fee not applicable to non-personal accounts
Example 2: Calculating TRB for customers who hold Individual and non-personal accounts
Customer Name Mr A
Account Type Individual
Average Account Balance for the Month $60,000
TRB for the month NZ$85,000 (individual + non-personal)
Premier Service Fee $15
Customer Name Mrs B
Account Type Individual
Average Account Balance for the Month $100,000
TRB for the month NZ$125,000 (individual + non-personal)
Premier Service Fee Waived – Qualified
Customer Name A& Trust
Account Type Non-personal2
Average Account Balance for the Month $25,000
TRB for the month NZ$25,000 (non-personal only)
Premier Service Fee Fee not applicable to non-personal accounts

2Non-personal account associated to Mrs B only

Frequently Asked Questions

Why does the Bank have a minimum TRB requirement?

At HSBC, we aim to provide high quality service to all our customers. In order to maintain the exclusivity and standards of HSBC Premier, we require a minimum TRB to be maintained by all HSBC Premier customers.

How is the TRB calculated?

TRB is the total average balance, calculated each calendar month, on HSBC transaction and savings accounts and term deposits in New Zealand. The TRB for individual accounts will include related joint and non-personal account balances. To protect our customers’ privacy, we will not include balances from individual accounts when calculating the TRB for joint accounts but we will include non-personal account balances.

What happens if the TRB falls slightly below NZ$100,000 due to market fluctuations? Will the Premier Service Fee be charged?

To allow flexibility for changes in the value of the portfolio, the Premier Service Fee will only be applied on accounts that have a TRB of more than 10% below the minimum balance requirement of NZ$100,000 (i.e. NZ$90,000 and below).

When is the Premier Service Fee debited?

The Premier Service Fee will be debited on the 10th of every month. For example, if the TRB for the month of January is below the minimum balance requirement, a Premier Service Fee of NZ$15 will be debited on 10th February.

Which account will the Premier Service Fee be debited from?

The monthly Premier Service Fee will be debited from a New Zealand dollar denominated transactional account.

How will the Premier Service Fee be reflected in my statement?

The charge will be reflected as HSBC Premier Service Fee.

Can I opt to have my individual accounts included in my joint account TRB?

No, it is not possible to opt to have your individual accounts included in your joint TRB.

How much is the Premier Service Fee?

A monthly Premier Service Fee of NZ$15 will be charged if the TRB for the preceding month is below NZ$100,000.

I have a qualifying HSBC Premier account outside New Zealand, but the HSBC account in New Zealand does not meet the minimum balance requirement, will the Premier Service Fee be charged?

Customers who currently maintain Premier qualifying balances outside of New Zealand will not be charged the Premier Service Fee.

What happens if the account has an overdraft facility and the account is overdrawn? Will the fee still be deducted?

Yes, the fee will be charged, and the overdraft interest will apply for the outstanding amount. If you do not have an overdraft facility, HSBC will not place your account into overdraft through charging the Premier Service Fee.

I have a Premier Explorer Account. Will I be charged the Premier Service Fee?

No, Premier Explorer Account customers are exempt from the fee.

I am a home loan customer with HSBC in New Zealand. Will I be charged the fee?

No, home loan customers are exempt from the fee.

I have a trust account / non-personal account with HSBC in New Zealand. Will I be charged the fee?

No, non-personal accounts are exempt from the fee.

Where can more information be found?

Please contact our 24-hour HSBC Premier banking hotline on 0800 02 80 88 (within New Zealand) or +64 9 368 8557 from overseas (international toll charges apply). Alternatively, log on to www.hsbc.co.nz/premier for more information.

Important note

HSBC Premier, Retail Banking and Wealth Management Terms and Conditions (PDF, 639KB) and Fees and Charges (PDF, 76.3KB) apply.

The calculation of TRB is applicable only to HSBC Premier customers in New Zealand.

This information is correct at the time of publication.