[AliIsmailNZ]

Hello

Is HSBC bank well-known in your area ? I have an account in Jordan, I went yesterday to my officer looking to have a bank account in NZ. She stated she can open an account for me in the HSBC in NZ, but it seems that it has few branch among NZ.

Regards,

[IanR]

I use the Takapuna branch on The Shore - there's another in Auckland and also in Howick ... it's OK ... very useful if you want to keep money in NZ in different currency accounts.

Tends to be mainly used and staffed by NZ Asians - well at least the Takapuna one does... make sure your contact speaks good English, if that's the language you use yourself, is my advise. Otherwise confusion can occur - I speak from experience there :o(

If you keep a balance over NZ$100K you become a HSBC premier customer with various benefits. The $100K can be in any of the previously mentioned 'various' currencies and can be transferred instantly between internet accounts (limits apply, usually about £5,000 or equivalent unless your agent changes it).

I'm not quite clear whether those other currencies would be covered by the NZ bank guarantee though.. I probably should find out!

[IanW99]

...
I'm not quite clear whether those other currencies would be covered by the NZ bank guarantee though.. I probably should find out!

I wouldn't worry about the other currencies, it doesn't appear that the HSBC is approved at all, see Approved Institutions (http://www.treasury.govt.nz/economy/guarantee/retail/approved/) for details (unless I missed them?).

If you live in or around Auckland then HSBC may be Ok, but you won't find any branches around the rest of NZ, see HSBC branches (http://www.hsbc.co.nz/nz/tools/branches.htm) for details.

Ian

[AliIsmailNZ]

I wouldn't worry about the other currencies, it doesn't appear that the HSBC is approved at all, see Approved Institutions (http://www.treasury.govt.nz/economy/guarantee/retail/approved/) for details (unless I missed them?).

If you live in or around Auckland then HSBC may be Ok, but you won't find any branches around the rest of NZ, see HSBC branches (http://www.hsbc.co.nz/nz/tools/branches.htm) for details.

Ian

HSBC is approved (The Hongkong and Shanghai Banking Corporation Limited (New Zealand Branch), but as you said it has very few branches, moreover I noticed that they had a high monthly fee about (NZ$15/month). Am I correct ?

Ali Ismail

[Bozeman]

HSBC is famous for high fees. Other banks also offer multiple currency accounts - maybe all other banks...

[IanW99]

HSBC is approved (The Hongkong and Shanghai Banking Corporation Limited (New Zealand Branch), but as you said it has very few branches, moreover I noticed that they had a high monthly fee about (NZ$15/month). Am I correct ?

Ali Ismail

Thanks for the correction, I thought that they would be, but who knew that HSBC begins with a T? :exit

On the www.interest.co.nz (http://www.interest.co.nz/chequeaccount1.asp) website it says that it is NZ$10 per month. I suspect that they have more than one account that you could use.

Ian

[Flutterby]

i looked into this because we have HSBC in the UK, but its probably worth noting that although they carry the same label, there appears to be very little (if any) communication between the countries, in fact i was informed by the staff at the UK HSBC that the companies are "completely unrelated" (though its quite possible that the staff member was talking rubbish)

[IanR]

i looked into this because we have HSBC in the UK, but its probably worth noting that although they carry the same label, there appears to be very little (if any) communication between the countries, in fact i was informed by the staff at the UK HSBC that the companies are "completely unrelated" (though its quite possible that the staff member was talking rubbish)

I must admit to being disappointed by them not being more 'joined together' as I'd wrongly assumed they would be... however my latest NZ 'agent' did tell me that next time I wanted to move money he would give my manager at HSBC UK a ring and arrange it cheaper so they do have tenuous links at least.

[Georgebulldog]

I a UK HSBC account & they caused too much trouble when we moved here so just use the UK one for paying for thuings in the UK but wouldn't use them here, ditch them as soon as you can I say :exit

[IanR]

HSBC are now in the process of restructuring in NZ and are now only really interested high net worth premier customers.
However, if you do a lot of international travel or transactions and are able to maintain a balance of the equivalent of $NZ100,000 (which can be in the various currency accounts) you'll now receive a much more helpful service which is free of transaction fees.