HSBC Premier Singapore Bank Account Review (2025)

Unlock a world of privileges, personalised service, and global access with HSBC Premier – but is it truly worth the commitment?

For those with substantial financial portfolios or globally mobile lifestyles, premium banking is more than a status symbol – it’s a practical solution. HSBC Premier stands out as one of the most globally integrated banking services in Singapore, offering access to exclusive wealth services, personalised support, and seamless international transactions. In this guide, we break down the key benefits, eligibility criteria, and extras you can expect as a Premier customer, so you can decide if it’s the right fit for your financial journey.

Product details

• Enjoy attractive interest rates up to 3.30%* p.a. without multiple conditions

• No fall-below fee, monthly service fees or multiple conditions

• Hassle-free Online Account Opening process

• Earn 3.30%* p.a. with no cap for balances above S$250,000

• Insured up to S$100,000 by SDIC. Additional T&Cs apply.

• Minimum initial deposit of S$1,000

SingSaver’s take

HSBC Premier Banking is best suited for high-net-worth individuals, frequent travellers, and globally mobile families who can meet the S$200,000 Total Relationship Balance or home loan requirements. Its biggest strengths lie in global account access, wealth management support, and family privileges — though it may be excessive for those with simpler banking needs.

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HSBC Premier is designed for individuals who want more from their banking – more convenience, more personalised support, and more global access. From wealth management tools to family benefits, the suite of services goes well beyond basic banking.

Here’s a look at the main features that define the HSBC Premier experience, starting with priority access, global capabilities, and exclusive support.

Priority servicing

Premier customers enjoy significantly faster service across all HSBC touchpoints. Whether you’re at a branch, calling customer support, or requesting assistance through digital channels, your needs are prioritised.

This means shorter wait times, a dedicated hotline for phone banking, and a generally smoother banking experience – especially helpful for time-strapped professionals and high-net-worth individuals who expect efficiency.

Global banking in multiple currencies

One of the strongest selling points of HSBC Premier is its seamless global access. Premier status is recognised in all HSBC markets, giving you the same level of priority service abroad as you’d enjoy in Singapore.

With Global View and Global Transfers, you can manage and move funds between your eligible HSBC accounts across countries in real-time. This is especially valuable for those with international commitments – whether it’s a mortgage in London, tuition fees in Australia, or savings in Hong Kong. HSBC’s Everyday Global Account (EGA) further allows you to hold up to 11 currencies, and enjoy no foreign exchange fees on purchases and withdrawals made in 10 selected currencies.

>> MORE: What is a multi-currency account, and how does it work?

Product details

• Invest your fresh funds to receive $750 cash for every $50,000 in Unit Trust (capped at $15,000 cash) whilst qualifying for 5.75% 2-month Time Deposits rate (capped at your investment amount). SMS INVEST50 SS Full Name to 74722. A HSBC Personal Wealth Manager will be in touch to assist you. T&Cs apply. Find out how.

• Bonus cashback and interest granted by spending on HSBC debit/credit cards, making GIRO bill payments, and increasing account balance

• Sign up using SingPass MyInfo to enjoy a quicker application process

• Global Transfers lets you transfer funds to your other HSBC accounts instantly

• Get real-time exchange rates with HSBC's Online GetRate feature

• S$0 withdrawal fees at HSBC ATMs worldwide except for Argentina, Brazil, France, Greece, and several other nations

• Insured up to S$75,000 by SDIC. Additional T&Cs apply.

• Standing instruction fee of S$10 per item

• Fall-below fee of S$5 if average daily balance falls below S$2,000

SingSaver’s take

The HSBC Everyday Global Account is a strong multi-currency account for digital-first users, especially those who transact overseas or shop online in foreign currencies. With no FX fees on selected currencies and support for up to 11 currencies, it’s one of the more flexible travel-and-spend accounts on the market.

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Dedicated relationship manager

Premier customers are assigned a personal relationship manager (RM) who provides ongoing guidance for banking, wealth, and insurance needs.

This RM acts as a single point of contact for all your queries – whether you're rebalancing your investment portfolio, exploring mortgage options, or looking into legacy planning. The personalised attention can save you time and offer peace of mind, especially when dealing with more complex financial decisions.

>> MORE: 6 things your priority banking relationship manager can do for you

Wealth management services

Through HSBC Premier, you gain access to a wide range of wealth solutions, from unit trusts to structured products and insurance.

But it’s not just about access to products – it’s about advice. HSBC Premier offers financial planning services tailored to your goals, helping you manage, grow, and protect your wealth. Whether you’re planning for retirement, your child’s education, or a new investment, your RM can help create a roadmap that suits your risk profile and timeline.

Family and banking benefits

HSBC Premier doesn’t just benefit you – your loved ones are included too. You can extend Premier status to your spouse and up to three children aged 18 to 30, without them having to meet the Total Relationship Balance (TRB) requirement individually.

Your family also gains access to preferential rates, exclusive services, and priority assistance. This can be particularly useful if you have children studying overseas or a spouse managing joint financial goals. It’s a comprehensive family banking package that simplifies things across generations.

>> MORE: Priority banking comparison: Citigold VS HSBC Premier

HSBC Premier is ideal for those who expect more from their banking relationship – not just in Singapore, but globally.

• Frequent travellers will find the global recognition and fee-free foreign currency withdrawals incredibly useful. You can manage your finances from virtually anywhere and access your funds across borders without incurring extra fees.

• Families benefit from the ability to extend privileges, along with support for life events such as children’s overseas education. HSBC’s international reach and education financing options can make this journey smoother.

• High-net-worth individuals will value the dedicated RM, customised wealth solutions, and global account management. If your banking needs go beyond just saving and spending – say, you’re managing multiple investments or planning estate transfers – HSBC Premier offers the tools and guidance to support your ambitions.

To qualify for HSBC Premier, you’ll need to meet one or more of the following:

• Maintain a Total Relationship Balance (TRB) of at least S$200,000 (across deposits, investments, and insurance)

• Take up an HSBC mortgage of SGD1 million or more for a Singapore property.

Do note that while these criteria are common among premier banking services, the minimum TRB of S$200,000 is consistent with other premium offerings from local and international banks in Singapore.

The welcome rewards for HSBC Premier are tiered based on actions such as amount in TRB, signing up as an AI and making purchases.

Below is a breakdown of the rewards:

 

 

 

Source: HSBC 

Opening an HSBC Premier account can be done in a few easy steps:

1. Visit SingSaver’s HSBC Premier page

2. Fill out the online application form.

3. Submit the required documents, such as your NRIC/passport, proof of income, and address.

4. Fund your account or indicate your eligibility via salary crediting or home loan.

Once approved, you’ll be contacted by your relationship manager to help you get started on your Premier journey.

Pros

One of the standout advantages of HSBC Premier is its comprehensive global access. Customers can enjoy seamless banking across borders thanks to features like Global View and Global Transfers, which allow real-time transfers between your HSBC accounts in different countries. This is especially useful for frequent travellers, expatriates, or those managing finances across multiple jurisdictions. Additionally, Premier status is recognised globally, which means you'll receive the same high level of service whether you're banking in Singapore, the UK, or Hong Kong.

Another key benefit is dedicated wealth planning support. Premier customers are assigned a personal RM who serves as a central point of contact for all your financial needs — including investments, insurance, and long-term planning. This personalised approach helps streamline decision-making and gives customers access to tailored advice and exclusive financial products, making it ideal for those looking to build and manage their wealth more strategically.

HSBC Premier also shines when it comes to family-friendly banking. Account privileges can be extended to your spouse and up to three children aged 18 to 30 without them needing to meet separate Total Relationship Balance requirements. This is ideal for families planning for overseas education or managing intergenerational finances. On top of that, Premier customers can enjoy exclusive lifestyle and travel perks, such as discounted hotel bookings, travel insurance, and global ATM fee waivers — making it not just a banking relationship but a lifestyle upgrade.

Cons

Despite its many benefits, one of the biggest drawbacks of HSBC Premier is its high entry requirement. Customers must maintain a TRB of at least S$200,000, credit a monthly salary of at least S$15,000, or hold a mortgage of at least S$800,000 with HSBC. This effectively places it out of reach for most individuals unless they have substantial savings or high incomes.

Another consideration is that the account may not be fully utilised by casual users. If you primarily bank within Singapore, have no plans to invest or travel frequently, or don’t need a dedicated relationship manager, many of the benefits — such as global transfers, wealth advisory, and lifestyle perks — may go unused. In such cases, other savings or multi-currency accounts could offer better value without the high maintenance requirements.

Lastly, while the benefits are attractive, the account’s value proposition depends heavily on engagement. Those who actively use its travel perks, financial planning services, and global banking tools will find Premier worthwhile. But for passive users, the costs and eligibility thresholds may outweigh the actual day-to-day utility.

HSBC Premier is more than a status upgrade — it’s a holistic banking service for individuals and families who value convenience, access, and support. On top of its core benefits, Premier banking includes value-added services that enhance your travel, lifestyle, and property planning needs.

#1 Enhanced travel experiences

HSBC Premier offers a suite of travel privileges designed to make your journeys more comfortable and rewarding. From exclusive discounts on hotel bookings to complimentary airport services, Premier customers can enjoy a range of benefits that enhance every aspect of travel.

Elevate your travel with these offers:

• Agoda: Up to 14% off worldwide hotel bookings and 25% off designated hotels during flash sales.

• Rentalcars.com: 10% off worldwide car rentals.

• Sherpa: Up to 10% off worldwide eVisa applications.

• Wheely: Enjoy £/€25 credit to spend on Wheely rides.

• Winerist: Up to 20% off wine tours and wine travel experiences.

• Shangri-La Circle Membership: Upgrade to Jade membership status, unlocking additional benefits at Shangri-La hotels.

*These offers are available to HSBC Premier Mastercard Credit Cardholders and are subject to terms and conditions.

In addition to these offers, HSBC Premier Mastercard Credit Cardholders enjoy other travel-related benefits, such as complimentary travel insurance coverage and access to airport lounges, ensuring a seamless and comfortable travel experience.

#2 Lifestyle privileges and savings

HSBC Premier offers a suite of lifestyle privileges designed to enhance your everyday experiences, from dining and shopping to wellness and entertainment. As a Premier customer, you gain access to exclusive deals and discounts curated to complement your lifestyle.

Highlights include:

• Apple: Enjoy up to 5% instant cashback on selected Apple devices.

• Shangri-La: Upgrade to Shangri-La Circle Membership, unlocking additional benefits at Shangri-La hotels.

#3 Property financing solutions

Buying property? HSBC Premier offers access to competitive mortgage rates that could save you thousands over the loan’s lifespan. With their SmartMortgage product, you can offset your home loan interest using your savings, reducing the effective rate.

This means you can potentially shorten your mortgage tenure or lower your monthly repayments – an especially attractive feature for property investors or homeowners looking to optimise their finances.

Read reviews of the various savings accounts in Singapore and what each account has to offer to find the best product for your needs: 

• Read the Citigold Review

• Read the Standard Chartered Priority Banking Review

• Read the CIMB Preferred Banking Review

• Read the OCBC Premier Banking Review

• Read the UOB Privilege Banking Review

• Read the banking comparison of Citigold vs HSBC Premier