Frequently Asked Questions

HSBC Advance is a global offering that allows you to enjoy the benefits of a PowerVantage account plus more, wherever you are in the world. It provides you with the tools to plan your next financial life stage and get you where you want to be. With customized day-to-day banking solutions, lifestyle protection through insurance options, wealth-building tools and international services, opening an Advance account is a step towards tomorrow.

You can start enjoying the full benefits and services of an HSBC Advance account for free when you comply with any of the following requirements:

• Maintain a Total Relationship Balance of PHP100,000 or more in deposits and investments, or
• Take out a mortgage loan of at least PHP2,000,000

For NEW TO HSBC:

Opening an HSBC Advance account is simple. We welcome you to visit any of our 24 HSBC and HSBC Savings Bank Branches nearest you, or you may leave your contact information here and a Personal Banking Officer will contact you for account opening assistance.

Account Opening Requirements:

• Complete Account Opening Forms
• Terms of Business Letter
• Documentary Requirements are:

For residents: at least ONE (1) valid identification document (ID) bearing individual's photo issued by an official authority; and unless the residential address is indicated in the ID, proof of residence (eg utility bill)

For non-residents: Central Bank of the Philippines foreign exchange regulations provide that deposits to peso non-resident accounts (either personal or company) should be funded only by inward remittances of foreign or convertible foreign currencies.

For EXISTING CUSTOMERS:

For Powervantage and Powervantage Plus customers, your account will automatically be upgraded to an HSBC Advance account. For Classic customers, please visit your branch of account and your Personal Banking Officer can upgrade your account immediately at no cost to you.

Your upgrade to HSBC Advance will not affect your existing record with HSBC or HSBC Savings Bank. You will maintain the same account numbers.

ATM and Debit Card Replacement

• Should you wish to replace your existing ATM Card, Debit Card, and Checkbook to HSBC Advance branded cards and Checkbook, you may visit your branch of account or by calling our 24/7 Customer Service hotline at (02) 85-800. Your existing ATM and Debit card should be surrendered to the Bank as soon as new cards have been issued.
• The balances of your existing ATM or Debit Card are automatically transferred to your HSBC Advance card as soon as it is activated.
• In the event that you do not wish to replace your existing ATM or Debit Card, this will automatically be replaced by the Bank as soon as they expire.

Credit Card* Replacement

• If you hold a Classic or a Gold Credit Card and wish to replace it with an HSBC Advance Credit Card, you may request for a credit card conversion by calling our 24/7 Customer Service hotline at (02) 85-800. Credit card conversion is subject to the approval policy of HSBC.
• Your existing Classic or Gold Credit Card will automatically lose its functionality as soon as you've activated your HSBC Advance Credit Card.
• The transactions, outstanding balances, and unexpired bonus points of your existing Classic or Gold Credit Card are automatically transferred to your HSBC Advance Credit Card as soon as it is activated.
• As soon as you've activated your HSBC Advance Credit Card, you must re-enroll all automatic debit arrangements which you previously enrolled directly with the merchant, such as gym membership, phone bills, etc.
• If your Classic or Gold Credit Card is enrolled to online banking, your account, e-statements, and AutoCharge enrollments will automatically be suppressed upon activation of your HSBC Advance Credit Card. Please enroll your new HSBC Advance Credit Card in online banking to view your new account, subscribe to e-statements and our AutoCharge facility.
• If your Classic or Gold Credit Card is enrolled to an Automatic Debit Arrangement for your monthly dues, please visit your branch of account to apply for a new arrangement using your new HSBC Advance Credit Card.
• If you need records of your previous credit card transactions, you may visit your branch of account or call our 24/7 Customer Service hotline at (02) 85-800 to request for printed statement of accounts. Requests for printed statements are charged Php100 per monthly statement.

* HSBC Credit Cards are issued by HSBC Philippines. Applications of Advance customers from HSBC Savings Bank (Philippines) Inc for an HSBC Credit Card will be processed by HSBC Philippines.

No monthly account management fee of PHP1,250 will be deducted from your account as long as you meet the HSBC Advance eligibility criteria.

Total relationship balance (TRB) is the total amount of all your deposits and investments held with the Bank at any given time. TRB is calculated based on the average daily total balances in your deposit/investment accounts with the Bank in any one calendar month.

For example, you can place a portion of your funds in a savings account, another in a current account and another in an investment where the total balance in all these accounts should sum up to PHP100,000 or more.

As a valued HSBC Advance customer, you will have priority access to all bank products and services at all our branches. In addition to this, you will also enjoy the following benefits.

Account Tools:

• Free HSBC Advance Debit Card

Deposits:

• 24/7 online and PhoneBanking access
• Bank Alert
• Online Money Management Tools
• HSBC Advance Debit Card
• Philippine Peso and US Dollar Checking Account
• Preferential Online Time Deposit Rates
• Savings Account in Philippine peso and 11 foreign currencies
• Periodic savings plan in Philippine peso and US dollar

Investments:

• Access to fixed income instruments and growth-centric investments
• Trust Services
• Free Financial Review

International Services:

• International Recognition and Emergency Support
• International Account Opening
• Discount on Account Opening Fees
• Global View and Global Transfer

Loans:

• Preferential rates for loan products
• Revolving credit line linked to your Deposits or Investments
• Customized loan packages

Cards:

• Exclusive Home and Away Benefits
• Exclusive Offers to Advance
• Bonus Points validity : three (3) years

Convenient Channels:

• Access to Day and Night Banking Centre
• Free unlimited local bank ATM withdrawals

What is Global View?

Global View is a service in Personal Internet Banking (PIB) that provides HSBC Advance customers with:

• Single sign-on access to accounts held in multiple countries and territories whilst banking online in another
• Real time, single view of account balances of accounts held at HSBC across different countries and territories

What is Global Transfers?

Global Transfers is a functionality of Global View that allows customers to transfer money between their accounts held in the different HSBC entities that they have linked through Global View.

Who can have access to the Global View / Global Transfer services?

The Global View/Global Transfer functionality is available to HSBC Advance customers with active internet banking profiles and who hold accounts with different HSBC branches worldwide.

How does it work?

There is an option available within Global View called "Global Transfers". Upon selecting the Global Transfers option;

Step 1 - Use drop-down lists to select the country of the account you wish to debit and credit (only countries that are part of Global Transfers will appear in the lists and you can not select the same country for debit and credit)

Step 2 - Select the actual accounts to debit and credit and specify the amount of the transfer

Step 3 - We confirm the information to you including a rate if foreign exchange is involved

Step 4 - Once you confirm the details the transfer request is accepted and completed

What type of transfers can be done?

The following types of transfers can be effected:

1. Immediate Transfers
2. Recurring Transfers
3. Future-Dated Transfers

What currencies are available?

Most currencies that are already available via internet banking are available for selection using this service. The majority of currencies will also allow for 24x7 real-time transfers. However, there are a small number of currencies that can only be traded on-shore due to local regulatory restrictions, and although these currencies will still be available for selection, there may be a short delay in processing these transactions. For the Philippines, transfers from a Philippine Peso account to a foreign currency account will be restricted.

Can I use Global Transfers to send money to other accounts?

So long as the account is linked to the same Global View profile and has been identified by the account owning country as being able to send or receive transfers, you will be able to use the account within Global Transfers. You cannot send money from or to an account that is either not linked through Global View or belonging to an entity that has not launched the Global Transfers service. Only accounts that belong to the same person can be linked together through Global View.

Are there any transfer fees associated with this service?

Yes. A per transaction fee equivalent to USD7 applies to each transfer. This fee depends on the currency that you will transact in. Please refer to the Global Transfer Fee schedule when you log on Internet Banking.