HSBC Private Bank vs Premier: which account is right for you?

If you’re looking for a premium banking solution, you’re likely to be checking out what’s on offer at some of the UK’s biggest banks.

One popular option is the global bank HSBC, which offers both a Premier and Private Banking Account. But which is the right choice for your needs?

In this guide, we’ll compare these premium and exclusive accounts on all the things that matter, including features, fees, perks and benefits.

Also, if you’re looking for a reliable and cost-effective way to manage large sums across 40+ currencies, consider checking out the Wise account from the money services provider Wise. It’s not a bank account but offers some similar features, and your money is safeguarded.

With low, transparent fees*, great mid-market exchange rates, and secure, trackable transfers, Wise makes international money transfers and currency conversions simple and stress-free. Plus, you’ll get dedicated support and volume discounts when sending large amounts.

Learn more about the Wise account

HSBC Private Bank vs Premier - a quick overview

Before we dive into the details of each account, here’s a quick side-by-side comparison of the main fees and features:¹

HSBC Private Banking Account

Best for: High-net-worth customers with £1.5m+ assets, needing bespoke wealth management, concierge/lifestyle luxury, and personalised financial services

The HSBC Private Banking Account is designed for high-net-worth customers looking for completely bespoke financial services and access to their own dedicated relationship manager.

The eligibility criteria is tough to meet, so you’ll need to have at least £1.5 million in assets saved or invested with HSBC.¹

But if you qualify for an account, you’ll get an impressive list of features and benefits for no monthly fee. This includes the following:¹

• Worldwide family travel insurance with Aviva, including winter sports cover
• Expert support and personalised financial solutions from a dedicated Relationship Manager and specialist team
• 24/7 access to an exclusive lifestyle concierge service, provided by the Ten Group
• Access to the Global Money Account, which offers fee-freeinternational transfers and a multi-currency debit card
• Exclusive offers with top brands as part of the home&Away discounts and rewards programme
• Preferential terms on mortgages, loans, credit cards and savings
• Access to the HSBC Financial Advice service
• Up to $10,000 USD in emergency cash when you travel
• View all international HSBC accounts together with Global View
• Access to 2 rewards credit cards
• Specialist financial advice for wealth planning, investing and bespoke financing
• Optional arranged overdraft (subject to status).

HSBC Premier Account

Best for: Customers with £100,000+ assets wanting premium travel, health and lifestyle perks.

If you can’t quite meet the eligibility requirements for the HSBC Private Banking Account but you still want a premium account with lots of perks - you might want to try the HSBC Premier Account.

It’s available to customers who have at least £100,000 in annual income or savings with HSBC, or who qualify for HSBC Premier in another country.¹

There’s no monthly fee, and the impressive list of benefits and features includes:¹

• HSBC Premier Worldwide Travel Insurance for the whole family
• 24/7 customer support
• Access to HSBC Life Online Health Services provided by Square Health, plus Cancer Bereavement Cover
• Access to the Global Money Account, which offers fee-free international transfers and a multi-currency debit card
• Exclusive offers with top brands as part of the home&Away discounts and rewards programme
• Access to the HSBC Financial Advice service
• Preferential terms on mortgages, loans, credit cards and savings
• Up to $10,000 USD in emergency cash when you travel
• View all international HSBC accounts together with Global View
• Access to 2 rewards credit cards
• Optional arranged overdraft (subject to status).

Which account is best for you?

The best account for you will largely depend on whether you meet the eligibility criteria. Not all customers will have £1.5 million in assets, so if you can’t meet this requirement then the HSBC Premier Account will be a better fit.

Both accounts have no monthly or annual fee, and offer similar features and benefits.

The Private Banking Account is more focused on wealth management (although it does also offer travel perks), while the Premier Account also has the added bonus of health benefits along with Cancer Bereavement Cover.

You can find full details of all accounts, terms and conditions and eligibility requirements over on the HSBC website.

Wise - An international alternative to a bank account

Of course, HSBC isn’t the only option out there if you’re looking for a new account.

You might want to see if a Wise account might be a better fit for your needs. You can open yours for free and start managing your money in 40+ currencies for low, transparent fees* and mid-market exchange rates. It's not a bank account but offers some similar features and your money is safeguarded.

✅ Sign up with Wise for free

**Investments in funds are never guaranteed and your capital can be at risk. In the UK, Interest and Stocks are provided by Wise Assets — this is the trading name of Wise Assets UK Ltd, a subsidiary of Wise. Wise Assets UK Ltd is authorised as an investment firm and regulated by the Financial Conduct Authority (FCA). Our FCA number is 839689. We do not give investment advice, and you may be subject to pay tax. If you're not sure, seek qualified advice. You can find more information about the funds on our website.

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Sources last checked: 14-Oct-2025