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HSBC Premier charges £599 for advice about Protection product


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Dear Members


After initial assessment, I was told that I meet the criteria for HSBC Premier (salary) but I was advised that I should buy a Protection product. The issue is that they are charging £599+VAT for arranging Protection product


Is this normal?


the Premier Relationships Manager sent me an email


"Please be advised that in order to arrange an Investment or Protection product with me you would be subject to an advice fee which is a minimum of £499 + VAT"


I replied that I would not need advice as I would just purchase the protection product. I am waiting for their response


The HSBC Premier account would be useful when being overseas and transferring money from different accounts without charge


Thanks in advance for your advice

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  • 1 month later...

I am sorry that nobody has responded to your query. I have only just read it. My wife was a premier account holder and we ended up very disappointed with HSBC's services and losing a lot of investment money.



My advice would be to steer clear of Premier Banking, their advice to her was extremely poor and relatively expensive and premier managers were constantly changing. In essence I formed the opinion that HSBC was only interested in HSBC.




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