HSBC Premier vs Citi Gold Card

HSBC Premier vs Citi Gold

HSBC is one of the world’s largest banking and financial services organizations. The bank serves more than 40 million customers through four global businesses: retail banking and wealth management, commercial banking, global banking and markets, and global private banking. Their network covers 65 countries and regions in Europe, Asia, the Middle East, and Africa, North America and Latin America.

Their goal is to be a place to grow, to provide opportunities for clients to thrive, to thrive in the economy, and ultimately to help people realize their hopes and achieve their ambitions.

HSBC Holdings plc shares are listed on the stock exchanges in London, Hong Kong, New York, Paris and Bermuda and are held by approximately 200,000 shareholders in 129 countries and territories.

HSBC’s business in the UAE dates back to 1946 when the former Iranian imperial bank of HSBC’s the Middle East opened its doors to businessmen and citizens in the UAE.

After withdrawing from Iran, the bank was renamed the British Bank of the Middle East (BME). In 1959, BBME was acquired by Hong Kong and Shanghai Banking Corporation Limited. The bank played a key role in establishing banking in the Middle East and North Africa.

Citibank

The United Arab Emirates Citibank National Association is a licensed subsidiary of Citigroup. This is a multinational financial services company headquartered in New York, USA. Citigroup UAE is connected through a network of 98 markets around the world. Citibank (USA)’s telephone support call center retail banking customers are located at Citibank in Bahrain.

HSBC premier Account vs Citi gold Account

  1. HSBC Premier

HSBC offers a premier account for its customers with premium privileges and benefits.  The account offers Dedicated Relationship Manager, a Current Account available in UAE Dirham, US Dollars, Euro and Pound Sterling, fee-free money transfer to India, Pakistan, Egypt and Philippines, preferential rates on term deposits, international debit card accepted at over 25 million retail outlets worldwide and over 1 million ATMs, free instant international fund transfers through online and mobile Banking via Global View and Global Transfers between your global HSBC accounts, overdrafts, auto pay and standing instructions, no monthly fee, AED 15,000 overdraft, Transfer your Personal Loan to HSBC and enjoy preferential rates, AED 2,500 cashback on new home loans, Enjoy live exchange rates that update every 60 seconds, free online banking, phone banking, and SMS alerts bank where and when it suits, free checkbooks and if your checkbook is lost or stolen, use ‘Stop Cheque’.

With this account, you can withdraw AED1 2,000 daily from HSBC UAE ATMs and Switch ATMs. You get exclusive deals on shopping, dining, leisure, and entertainment at 19,000 stores in 160 countries

The Live exchange rate is now available for online and branch remittances. The rate for the branch is refreshed every 60 seconds, the rate for personal online banking is refreshed every 90 seconds, and the global view and global transfer for international business days (Monday to Friday) are refreshed every 120 seconds. Real-time exchange rates are not available on international weekends (Saturday and Sunday) or when the money market is closed, and the exchange rate will remain unchanged until the next international business day.

HSBC offers a credit card which offers the following features;

  1. Air Miles rewards spend any time, anywhere with your HSBC Premier Credit Card & earn 1 Air Mile for every AED 1 spent.
  2. Competitive interest rates
  3. HSBC Entertainer Mobile App – Free download of our ‘Buy 1 Get 1 Free’ mobile app with over 8,000 offers across 15 countries
  4. No Annual Fee
  5. Valet Parking up to four free valet parking visits per month at selected Val trans locations around Dubai and Abu Dhabi
  6. Airport Lounges Access – unlimited complimentary access for you and your supplementary cardholders to a select number of airport lounges worldwide through Lounge Key.
  7. 10,000 air miles and 0% balance transfer for 12 months on new credit cards.

The account also offers Wealth management services, HSBC’s Wealth Management Service brings you global expertise to help plan your financial future. Moreover, with this account, you get an HSBC Premier MasterCard Credit Card with which you get a seamless banking experience with exclusive benefits, no annual fees, low-interest rates & more. HSBC extends loan like 

  • Home loans: avail of discounts on processing fees, highly specialized team of Mortgage Advisers & more
  • Vehicle and personal loans: avail of preferential rates, flexible tenure options on Auto Loans to help you finance the car of your dreams

With this account, you can quickly transfer within the UAE and around the world, with preferential tariffs and a lot more. HSBC offers a Premier Current and Savings account an account that travels with you. Available in multiple currencies, international debit cards & more. Moreover, you get an HSBC Premier Debit Card this card is accepted globally at over 25 million outlets & 1 million ATMs, equipped with fraud prevention chip.

Eligibility Criteria

Eligibility criteria do not apply to HSBC Premier international customers.

  • Maintaining a minimum monthly average balance of AED 350,000 in deposits and/or investments or,
  • Monthly net income transfer of AED 50,000 or above or,
  • Mortgage drawdown of AED 3,000,000 or above for the first 24 months
  • Current accounts are also available in currencies other than those mentioned above. If you have a total relationship balance of USD 1,000,000 or more, please contact your Premier relationship manager to get more details on the exclusive benefits that you can enjoy.
  • AED 350,000 has to be maintained in deposits and/or investments within 24 months or if the mortgage is fully paid off before 24 months to avoid charges and discontinued service. You must successfully meet the Premier by mortgage eligibility criteria to take advantage of discounted fees available to Premier customers. If you default on your home loan agreement, this may result in charges or discontinued service.

Opening an HSBC Premier Account is quick and simple – plus you get AED 1000 for every friend that transfers their salary into a new HSBC account.

2- Citi gold

Citibank offers Citi gold account in which it offers its customer’s wealth management solutions. The bank offers the dedicated Citi gold Relationship Manager whose responsibility is to put you and your needs at the heart of Gold Conversation. The account manager will have an in-depth conversation with you to understand your current financial situation, goals and needs to determine the right portfolio for you.

As a Citi gold customer, you will be assigned a Customer Relationship Manager who is your financial advisor to help you get the most out of your Citi gold customer relationship. All Citi gold customer relationship managers are selected for their financial advice and investment knowledge and dedication.

The bank provides its customers with market research and insights daily. The bank offers global privileges. Enjoy global banking with Citibank. Funds can be immediately transferred to other Citi personal accounts through Citibank Global Transfer. It is the global banking solution for today’s global citizens. Whether you are traveling for business or pleasure, our global network can help you meet all your banking needs and enjoy the same Citi gold privileges and exclusive services as you do at home.

Joining Citi Gold offers a cashback facility up to AED 12,000. Apart from this Citi gold offers complimentary golf and complimentary airport pick and drop off. The MasterCard comes with a lot of privileges like get AED 3,509 worth of shopping credit at Reebonz with the Citi platinum MasterCard. You can also shop at more than 100,000 retailers like Apple, Amazon and more with my us premium membership. The Citi gold bank also offers travel privileges like access to airport lounges, discounts on rides with Careem.

Choosing between HSBC premier and Citi gold is a personal choice and it completely depends on the needs of the individual. The benefits of both the banks are stated above and you may choose according to your needs and requirements.

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