We have an HSBC Premier account in the USA. We set this account up because of the flexibility it offers to transfer funds internationally with no fees (we have rental property & family in Europe). We find this particular service very convenient and since everything has been setup (had to go through a bit of a rigmarole setting up the local account in Europe), would like to maintain it.
To avoid the monthly $50 account maintenance fee, you need to maintain $100k worth of assets with HSBC.
From what I have researched, all of their investment vehicles have huge fees associated with them. We parked the money in a 12 month cd at .95% (matures Jan 2019).
- Does anyone have any investments at HSBC that they can recommend (if yes, what are the fees)?
- Pending a "decent" investment option, I am now thinking to just pull the money when the cd matures and pay the $50 account fee (even if I move the $100k to another cd - rates will likely be much higher at other FI's).
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