HSBC becomes first international bank to enter Kuwait

HSBC becomes first international bank to enter Kuwait ... - AME Info

Posted: 11 Apr 2010 09:59 PM PDT

Speaking at the launch event in Kuwait, Simon Cooper, CEO of HSBC Middle East and North Africa said, "Our Premier proposition has really struck a chord with our Middle East customers. In 2009, we saw a 32% rise in Premier customers across the region.

"Today's launch is the next stage of growth for Premier, and underlines HSBC's long term commitment and investment in the Middle East."

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. 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.

Lloyd Maddock, CEO of HSBC Kuwait, said:

"Globalization changes both business and social habits. More and more people, including Middle East nationals and residents lead an international, mobile lifestyle. It has an impact both on their professional behaviour as well as on the way they spend their leisure time."

"Business people and citizens travelling abroad are looking for far more support and help from their bank in international financial services and wealth management."

He continued: "We are looking forward to offering the benefits of HSBC Premier's international connectivity, enhanced rewards program and wealth management services to our Kuwaiti customers."

To date, HSBC has opened over 290 international Premier Centres, situated in major cities around the world, and more than 8,500 branches with Premier service points.

With this launch HSBC Premier centres are now available in all GCC countires.

HSBC Premier at a glance:

• Eligibility - To become a HSBC Premier member, customers need to have at least $100,000/- in total relationship balance with HSBC

• Ability to pre-open overseas accounts in the home country and transfer credit history

• HSBC Premier Current account:

- Accounts in local and foreign currencies: EUR, USD; GBP.

- No monthly fee on any of the current accounts

- Access to cash worldwide at any Cirrus, Maestro or MasterCard ATM machines worldwide, free from any HSBC fees, when using the Premier International.

• HSBC Premier credit card (no annual fees included, gives access to emergency assistance). It also gives free membership to the HSBC Rewards Programme, whilst the Home&Away Programme encourages customers to visit almost 40 countries and to enjoy exclusive offers and privileges at over 3600 restaurants, hotels, stores and spas worldwide

• Transfer of funds between the HSBC Premier accounts free of charge.

• Emergency assistance- in case of the loss of cash or cards, the bank will provide an emergency replacement credit card within the next day. Also local currency to the equivalent of $2,000 in cash will be provided at the nearest HSBC branch

• Wealth Management services with regular market information for retail investors,

• One globally accessible number 1-908-PREMIER for emergency assistance

• Access to a relationship manager who provides dedicated 1-on-1 service

• A high interest rate saving account

• Term deposit with no monthly fees