HSBC Bermuda hiking fees

  • HSBC Bermuda has announced a range of fee increases for services, effective from July 1 (File photograph)

    HSBC Bermuda has announced a range of fee increases for services, effective from July 1 (File photograph)


A 200 per cent increase in the monthly maintenance fee for statement savings accounts, is among a range of fee increases announced by HSBC Bank Bermuda Ltd.

The new fees are effective from July 1, and affect savings accounts, local and overseas payments, cheque cashing for non-HSBC customers, credit card annual fees and late payments, and annual rental fees for safe deposit boxes.

The increases, announced in an e-mail to customers, are:

• monthly maintenance fee for statement savings accounts rise from $1 to $3;

• cashier’s cheques for local payments ordered manually from $75 to $100, a 33 per cent increase;

• drafts for overseas payments ordered manually from $100 to $125, a 25 per cent rise;

• outgoing wires for overseas payments ordered manually on bank stationery from $100 to $125;

• cheque cashing fee for non-HSBC customers from $30 to $35;

• BermudaCard with MasterCard annual fee from $35 to $60, a 71 per cent increase;

• HSBC Advance MasterCard annual fee from $50 to $75, a 50 per cent increase;

• Visa Classic annual fee from $60 to $85, a 41 per cent rise;

• Visa Gold annual fee from $75 to $100, a 33 per cent increase;

• Credit card late payment from $40 to $50;

Safe deposit box annual rental fees have also increased as follows: box type 1, $41.25 to $53.50; type 2, $62 to $80.50; types 3 and 4, $103 to $134; type 5, $196 to $255; types 6 and 7, $216.50 to $281.50; type 8, $350.75 to $456; type 9, $412.50 to $536.25; type 10, $464 to $603.

The statement savings account monthly maintenance fee does not apply to Premier customers or seniors, provided the senior account holder maintains a $100 average minimum balance, the bank said.

The charges for cashier’s cheques ordered manually and drafts ordered manually do not apply to seniors.

You must be registered or signed-in to post comment or to vote.

Published May 14, 2019 at 5:45 pm (Updated May 14, 2019 at 5:45 pm)

HSBC Bermuda hiking fees

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon

  • Take Our Poll

    • "Who are your favourites to win the Cricket World Cup?"
    • Australia
    • 11%
    • Bangladesh
    • 3%
    • England
    • 28%
    • India
    • 17%
    • New Zealand
    • 5%
    • Pakistan
    • 4%
    • South Africa
    • 4%
    • West Indies
    • 27%
    • Total Votes: 3942
    • Poll Archive

    Today's Obituaries

    eMoo Posts