Thread: Using HSBC Premier to open a bank account

Had a bank account opened in less than 20 hours while going through HSBC Premier. Something for everyone to look into if they want a bank account down here.

This is an issue of TOO BIG TO FAIL. A bank like HSBC can do whatever the F they want since noone can take them down.

You should keep in mind that the bank is still going after 5 million dollars from Peter Gordon for Yahoo newsgroup posts. The main guy at HSBC who sued him and froze the assets of his non-freezable Foundation accounts is now with Uni Bank.

I see Ed that you are still negative on HSBC. I used the premier process as well for the last 2 years and I have had good results using HSBC. They may not be the best but so far I would recommend them. Be sure to have a personal relationship with the premier manager at the bank.

It has gone great for me. The bank has a lot of a t m s. That is important when choosing a bank.

Hardly, let's say you do 2 ATM withdrawals per month that's $1.40 and you indicate that you will always drive to an HSBC ATM. In that case you would lose the $1.40 in time and additional gas compared to just using closest one. High interest and low fees is nice otherwise.

HSBC is very good if you are looking for peace of mind in relation to your non-interest bearing deposits.

Originally Posted by adamruns

It has gone great for me. The bank has a lot of a t m s. That is important when choosing a bank.

I walk everywhere. I have never been far from an HSBC ATM. Except in Santa Fe. The difference between 2.5% I think HSBC has advertised and 4% is minimal on less than 10k. Id rather invest my money more foolishly.

Well, obviously if you decide to call it Exercise every time you need to find an ATM of course you win then....

If you don't care to get the best interest for 10k you will never have 100k to care about anyway. In 5 years the difference is 852 dollars, in 20 years 5,525 dollars.

Originally Posted by adamruns

I walk everywhere. I have never been far from an HSBC ATM. Except in Santa Fe. The difference between 2.5% I think HSBC has advertised and 4% is minimal on less than 10k. Id rather invest my money more foolishly.

If you have an account in a bank in the States, like CITI BANK, will your account transfer to a CITI BANK in Panama?

As a US citizen you should assume that you cannot get ANY bank account in Panama until you have your residency card.

Originally Posted by mrimaggie1

If you have an account in a bank in the States, like CITI BANK, will your account transfer to a CITI BANK in Panama?

My attorney guided me to Unibank. I had already applied for a resident card. I was in and out with a new account in 1 hour. You will need a passport, letter of referral from your bank in USA and another form of ID like a drivers license from wherever.

Hi,

So even though I bank with HSBC in Dubai, UAE, I cannot open a bank account in David until I become a resident? HSBC here said it will not transfer anything to Panama because the HSBC bank does things very differently, so even though it is still HSBC Bank, it does its own thing. I am originally from Florida and have a Wells Fargo account there where my ss, pension, and other income is automatically deposited every month.

So I am destined to use ATM's to get any money out for living?

I wish it wasn't so. Please let me know if I am understanding this correctly.

Thanks so much,

Kathy