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Bermuda included in HSBC global banking roll-out

Global: Bank of Bermuda/HSBC's Front Street offices

Bermuda is included in the roll out of a new global personal banking system by HSBC for affluent customers with investable income of $100,000 or more.

The bank claims its new HSBC Premier is "the first truly global personal banking service for the world's 200 million mass affluent and internationally mobile consumers."

It is being rolled out simultaneously across 35 countries and territories, including Bermuda.

A recent survey conducted by MSI International for HSBC Premier showed that 51 percent of mass affluent Americans have considered living or taking an extended vacation abroad but view one the biggest challenges to living abroad as "setting up my finances."

Kevin Newman, senior executive vice president, Personal Financial Services, HSBC Bank USA, said: "The number of mass affluent consumers in the world today is growing rapidly and these customers are highly mobile, sophisticated and knowledgeable."

"With operations in 83 markets, HSBC is the only bank in the world that could provide them with the seamless international service they need."

HSBC Premier is said to offer seamless cross-border banking and providing customers the ability - for the first time - to take their accounts, credit history and banking relationships with them wherever they choose to live and work.

Premier customers have access to 250 international Premier Centres, cited in major cities around the world, and more than 6,000 branches with Premier service points. Each location will have access to all the information needed to serve customers and provide local advisory services.

To support Premier customers, HSBC has built a Global Training Academy, providing over 5,000 HSBC Premier relationship managers around the world, plus another 3,000 support staff with the necessary training and accreditation so that they are fully ready to provide the new services.

The new services include a globally accessible number 1-908-PREMIER for emergency assistance, the ability to pre-open overseas accounts in home country and transfer credit history, free fund transfers between accounts via online service made easier and pre-approved mortgages (up to 60 per cent loan-to-value) on up to three properties, home or abroad.