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FAQs: HSBC Advance

Frequently asked questions relating to HSBC China’s Advance account products and services.

Am I eligible for HSBC Advance?

Starting from 13 July 2020, HSBC Advance Account will only be available to following types of customers: HSBC employees, HML(Home Mortgage Loan) customers, EBS (Employee Banking Solution) customers, HSBC Credit Card cardholders, HSBC Premier downgrade customers, qualified key controllers of small businesses, CNY settlement account Type II/III customers who open Type I account, personal loan customers, business loan customers.

How is Total Relationship Balance under the same customer number calculated?

The Total Relationship Balance refers to the combined monthly average balance of all the accounts under the same customer number, which includes: (1) Renminbi / Foreign Currency Deposits; (2) investment capital amount(s) of Dual Currency Investment(s) and Structured Investment(s) (Capital Protected at Maturity / Partially Capital Protected at Maturity); (3) market value of other investment product(s) (including Overseas Investment Plan); (4) point of time cash value of traditional life insurance product(s) (including annuity insurance, whole life insurance, endowment insurance, critical illness insurance and universal life insurance) according to the end of the third to last working day of the current month; (5) point of time market value of investment account(s) under investment linked insurance product(s) according to the end of the third to last working day of the current month.

Remarks and notes: 

  1. The insurance product(s) as mentioned above will be included in the Total Relationship Balance calculation of the current month if the relevant policy effective day is on or before the third to last working day of the current month, and will start to be included in the Total Relationship Balance calculation from the next month if the relevant policy effective day is on or after the second to last working day of the current month.
  2. The Total Relationship Balance calculation doesn't include protection insurance product(s) (protection insurance product(s) refer to term life insurance, credit enhancement insurance and general insurance such as travel insurance, accidental insurance and health insurance).
  3. ’Working day’ refers to a working day in Mainland China as determined by announcements or provisions issued by the relevant governmental organization in Mainland China.
  4. The above mentioned cash value or market value of insurance product(s) will be provided to the Bank by the relevant insurance company(ies), and the Bank takes no liability for the information and data provided by the relevant insurance company(ies).

What is the monthly service fee for HSBC Advance?

A monthly service fee of RMB100 (or its equivalent in any other currency) will be charged if the Total Relationship Balance of all the accounts under the same customer number falls below RMB100,000 (or its equivalent foreign currency) in the previous month. Please refer to the Tariff of Accounts and Services for Personal Customers for more detailed information.

For more information, please refer to the Frequently asked questions page.

Disclaimer

These FAQs are intended to provide an overview of the information on issues related to financial products or services, or regulatory requirements faced when undertaking financial activity in mainland China. Due to the diversity and  complexity of financial products/services and local regulatory environment, these FAQs can only provide an outline of the issues. The information is provided for your reference only, and shall not be construed as legal, financial or any other professional advice. HSBC makes no guarantee, representation or warranty and accepts no responsibility for the accuracy updatedness and/or completeness of the information.

Latest update in Nov. 2016