HSBC Premier Lifehack

[Marie Manila]

HSBC Expat: The relationship balance does not take into account the Sharedealing investments. I know this from personal experience and talking with many different people at the bank.

I asked them, too.
They clarified that InvestDirect is counted towards the relationship balance.
Very strange.

 

[daniels27]

However, according to their website https://www.us.hsbc.com/investments/products/self-directed-brokerage/

unless there's another investment account available for non-US residents where you can buy ETFs and stocks?

I know many users here which are "only resident" in at least 5 countries simultaneously.

 

[thomasparra]

I asked them, too.
They clarified that InvestDirect is counted towards the relationship balance.
Very strange.

Some associates (due to poor training and/or high turnover) still convey that but the system will still charge you. I know this from experience

I got a full year waived for underfunding fees after showing them the proof I got told the above. InvestDirect does not count towards the balance.

 

[Nicholas Van Orton]

HSBC Turkey entry level just got cheaper...ERDOCOIN (TRY) just got nuked after another of his political maneuvres went wrong. Or maybe Erdogan wants to attract mroe Premier customers into Turkey? LOL

 

[Overtrade]

So if I have interest income or dividends in my HSBC Turkey account, do I have to fill a tax return in Turkey?
I think it's a bad idea to simply hold 30 k$ in a Turkish current account without interest to meet the minimum account balance.

No. In Türkiye, they automatically collect a 15% tax on interest. It used to be 10% until last year, but the S&P 500 is growing, NASDAQ is growing, Hang Seng is growing, crypto is growing, and taxes around the world are growing too

 

[JustAnotherNomad]

If HSBC Turkey approves you, do you get the debit card right away (in the branch)? Or do you have to wait for it to arrive in the mail? Do they want proof of a Turkish address?
Can they ship the card to a foreign address?
I'm considering doing this, but I'm very limited on time.

 

[daniels27]

If HSBC Turkey approves you, do you get the debit card right away (in the branch)? Or do you have to wait for it to arrive in the mail? Do they want proof of a Turkish address?
Can they ship the card to a foreign address?
I'm considering doing this, but I'm very limited on time.

The card can only be mailed. They can send it to your foreign address with DHL Express. They need a proof of address anywhere in the world.

 

[JustAnotherNomad]

So in theory, you can walk into the bank, open the account and leave? No need to wait?
Can you send them the documents in advance, so they can make sure nothing is missing?

 

[daniels27]

So in theory, you can walk into the bank, open the account and leave? No need to wait?
Can you send them the documents in advance, so they can make sure nothing is missing?

They normally take your documents, check and then you hand to go back to sign the papers.

You could try to ask then to check all. Then go to Istanbul, go to the tax office for the tax id, then HSBC. Not sure it's that works but you could give it a try.