Strategy to obtain US Amex

[levelnine]

For FX transfers just about anywhere - I found OzForex the best starting back in the early 2000s. Changed its name a few years back to OFX now.

I've found Wise to generally be the best for transfers, but always worth shopping around on the day of transfer to get the best rate.

I like Revolut, but am wary of sending large amounts with them given a lot of user reviews saying they shut down their account and lost their funds for no reason.

 

[Tiki]

I like Wise, I use my debit card and it shows up in my B of A account usually around 18-19:00ish if i send it in the morning.

 

[blacksultan]

Received a retention offer on my green card . Spend $2000 usd in 3 months to receive a $100 statement credit .

 

[levelnine]

Received a retention offer on my green card . Spend $2000 usd in 3 months to receive a $100 statement credit .

If you haven't already accepted it, you should be able to hold out for a full AF SC of $125. Seems to be commonly offered.

 

[blacksultan]

If you haven't already accepted it, you should be able to hold out for a full AF SC of $125. Seems to be commonly offered.

I accepted . Isn’t full af $150 ? I did repeatedly ask if they can do better . Is that without a min spend ?

 

[Finale]

Reading FT, It looks like Amex has been stingy these days with retention bonus. I'm going to try it on my Plat soon. I got it last year but it will be over 13 months when I ask again. If not, I will cancel.

 

[levelnine]

Isn’t full af $150 ? I did repeatedly ask if they can do better . Is that without a min spend ?

Sorry, you're correct. $125 wouldn't cover full AF, but get you closer. With same $2K spend. Generally you need to call back on successive days to get a better offer. Generally reaches its highest just before the deadline to cancel without incurring the AF.

 

[Finale]

So far this year, I got $95 from Citi premier (annual fee). Didn't get anything from Brilliant. Not sure about asking for Aspire as I hardly put any spend and got 10k last year. Going to try Plat soon but won't expect much as I got 30K last year and paid just $550 fee. Will make sure it's over 13 months.

Forgot to ask for basic bonvoy this year. Anybody has an experience asking for a retention bonus with Amex bonvoy business, Amex gold business, Chase IHG, Chase CSP, Cap1 Venture X and Citi Prestige?

 

[mrsquare]

For those who use HSBC premier to get a US premier account. How long does it take from account setup to get premier status? Is it 6 months? Any ways around it?

 

[albyd]

From memory, when I did mine, some time ago now, it didn't take long at all - I had to wait for the international banking senter to call me to do the application for the US account which would have Premier status over the phone. I hear now it is possible to go direct over the website.

I don't have experience in this but can confirm it didn't take very long when I did it. Hope this helps.

 

[mrsquare]

From memory, when I did mine, some time ago now, it didn't take long at all - I had to wait for the international banking senter to call me to do the application for the US account which would have Premier status over the phone. I hear now it is possible to go direct over the website.

I don't have experience in this but can confirm it didn't take very long when I did it. Hope this helps.

Thanks for the response mate, and highly informative. Sorry I should have been a bit clearer. I was actually referring to attaining HSBC AU premier status.

 

[albyd]

Thanks for clarifying.I can’t recall exactly how long it took but was pretty quick. I’d had a HSBC account for ages so the account was already set up. It definitely was closer to days than months IME.

 

[mrsquare]

Thanks for clarifying.I can’t recall exactly how long it took but was pretty quick. I’d had a HSBC account for ages so the account was already set up. It definitely was closer to days than months IME.

No worries, was my bad for not being clearer. Thanks for the DP. Hopefully someone else has experience too and can add to this.

 

[Supersonic Swinger]

No worries, was my bad for not being clearer. Thanks for the DP. Hopefully someone else has experience too and can add to this.

I think it is quite quick from memory if not instantaneous. Once you link the HSBC accounts from the country where you initially qualified (through the "Global View" "Add or Remove A Country" links in Online Banking), you can see them all on your login.

 

[_TheTraveller_]

I'm headed to the US in 2 weeks, would it be easier if I applied for a BoA checking account? Or perhaps it's easier to just apply for a US HSBC Premier account and have the account open long enough for a statement and close it (50p/m)?

HSBC Transaction Account seems to a bit of a PITA as I previously had a home loan which is now closed and now I need to jump through hoops to get verified.

Also I would like the second the question regarding premier status on an AU account. It does say the following on the brochure:

If you are not a Premier customer but meet the Premier qualifying criteria for 6 consecutive months then you may be upgraded to Premier status. This comes at no cost and you will have access to the Premier benefits outlined in this Premier Service Guide.

However, it does seem like you can immediately apply for a HSBC Premier Account from the start?

Premier | Premium Banking Services & Support - HSBC AU

Unlock premium banking solutions with HSBC Premier. Enjoy a discounted home loan package and stay connected globally with competitive exchange rates

www.hsbc.com.au

Thoughts?

 

[desafinado74]

No nothing of that sort required for US or other countries . What is crucial is your purpose for opening account - intention to purchase property works for US , UK and canada but not for Singapore or Malaysia !

Post automatically merged: Nov 12, 2020

Have you considered free text now account ?

Hi Blacksultan,

I actually intend to open a HSBC Premier bank account in both Singapore and Malaysia (I was born in Malaysia and have family and friends in both countries ) after i qualify for premier status.

Do you know what type of valid reasons will work for opening bank accounts in these countries ?
And is there a limit on how many premier accounts you can open ?

 

[levelnine]

I'm headed to the US in 2 weeks, would it be easier if I applied for a BoA checking account?

If you're going to be physically in the US, I would absolutely make the most of that opportunity to open a checking account.

 

[_TheTraveller_]

If you're going to be physically in the US, I would absolutely make the most of that opportunity to open a checking account.

Is there anything I need to provide and do you have any recommendations as to which bank would be the most non-resident friendly?

Re HSBC, it seems like for those who have never banked with HSBC, you can immediately apply for premier status. However, if you have a profile or have banked with HSBC, it might make things a little bit more difficult. I'm waiting to hear back from the premier connect team regarding the matter.

 

[levelnine]

Is there anything I need to provide and do you have any recommendations as to which bank would be the most non-resident friendly?

Have a search of this thread (and the Internet). Searching 'branch' in this thread came up with a number of posts of people walking into branches and opening an account while visiting the US.

 

[blacksultan]

Hi Blacksultan,

I actually intend to open a HSBC Premier bank account in both Singapore and Malaysia (I was born in Malaysia and have family and friends in both countries ) after i qualify for premier status.

Do you know what type of valid reasons will work for opening bank accounts in these countries ?
And is there a limit on how many premier accounts you can open ?

No limit . Usually has to be reasons like moving there Investment etc. it’s country specific with each country influencing the criteria .