HSBC Premier Account downgrade query

[pgarg24]

Hi everyone,
So I am planning to open a HSBC Premier account for the sake of getting LTF premier cc which offers 3% rp on everything.(I already have sbi cashback, atlas etc but checking out hsbc too)

Now premier account requires to maintain a trv of 40L which is something I wont be fulfilling. The plan is to open the account with IP of maybe 10L, get premier cc as LTF and move funds back to my indusind account.

Can someone who is part of premier banking shed some light if they downgrade the account and if they send downgrade notices like icici, hdfc? If they downgrade will the premier cc also take renewal fees during aniversary year or since its LTF it wont matter. As per TnC premier cc remains LTF with premier banking so wanted to check if any real life experience regarding downgrades for hsbc bank account

 

[percolate]

Hi, did they charge any NMC for premier account downgrade? I'm planning to open a premier account just for the sake of premier DC and their premier cc. Will not maintain it later. I had a doubt if the premier DC will be chargeable if the account is downgraded or will they cancel the premier DC too?

Thanks

what benefit do you get with Premier DC?
I don't think they will cancel the debit card.

 

[Saad]

Following for updates.
Lmk of you were able to open the premier account with 10 lakh IP. I am planning to get the premier card too, but won't maintain funds.
Afaik, they will charge you the annual fee from 2nd year on non maintenance of premier status. But won't downgrade or cancel your cc.

 

[nixflix]

Hi, did they charge any NMC for premier account downgrade? I'm planning to open a premier account just for the sake of premier DC and their premier cc. Will not maintain it later. I had a doubt if the premier DC will be chargeable if the account is downgraded or will they cancel the premier DC too?

Thanks

I didn't let it downgrade or so, I just closed my HSBC/Premier savings a/c altogether. Just downgraded the Premier credit card to LTF Plat.