The Bank of Bermuda's controversial sale to multinational banking giant HSBC Plc. more than a year ago made it part of a vast global network that spans 79 countries.

But what does that mean for bank customers here?

On top of upgrades underway at all of the bank's Island branches, bank management say Bank of Bermuda clients, through HSBC, have access to many services which it wasn't possible for the bank to offer when it was a much smaller, albeit global outfit. And in the next year or so, the day will come when bank customers can be universally recognised throughout the multitude of countries HSBC operates in.

That means bank customers will be able to get cash and account details from ATMs around the world - at 16,658 HSBC cash points, to be exact.

The bank says its integration into the HSBC network is well ahead of schedule - and once the Bank of Bermuda completes its multi-million dollar migration on to HSBC's technological (HUB) system, it will be possible for bank clients to be recognised across the HSBC network.

The system is also designed to be more intuitive about customers' buying habits. For example, there are certain dollar amount limits on how much money you can, say, spend or withdraw with a Bank of Bermuda credit card.

This will all snap into place with the HSBC HUB system, which is designed to take into consideration a client's individual buying habits. With that information, the bank has the capacity to automatically authorise increases on credit card limits reflective of spending patterns and overall financial stability.

But for some of the bank's preferred customers, there is already greater access to the HSBC network through a service designed to give “individual attention to you and your money”.

The service isn't something you can sign up for, but it's yours if you have $250,000 and up on deposit or invested with the bank.

The service - HSBC Premier - was officially launched from a plush and dedicated fifth floor space at the bank's Front Street headquarters on Monday. But the Bank of Bermuda already knows customers like the service, having been operating in a “soft” mode for several months.

The bank has already signed up about 500 clients locally for the Premier service - a service offered in 33 global locations in which HSBC operates.

David Lunn, head of Premier in Bermuda, said: “We are a portal into the whole of the HSBC network,” with clients being given personalised access to HSBC products and services, as well as Premier facilities wherever they are available around the world.

Richard Brown, head of Bank of Bermuda's Personal Financial Services, said taking part in Premier has been attractive to “top tier” customers in Bermuda for numerous reasons.

“Firstly it is the one-to-one service and the ability to have someone by name that you can talk to, and who will get back to you, instead of dealing with a different person every time. And there is a question of the branch environment: If you do have the need to come into the bank, it is a nice environment to come into.”

Why set up the Premier service in Bermuda? Mr. Brown said: “Every country has its fair share of affluent customers and Bermuda has more than the average country....”

Although offering very personalised service: piping hot coffee is waiting for you in the Premier Lounge, there are newspapers, an Internet terminal, business news on the television, more private access to an ATM from the Premier facility - you don't actually have to leave home to enjoy some of the Premier membership services.

Access to specialist help from a dedicated relationship manager is at your fingertips through easy telephone access, or in person at the Premier branch or by personal visit at your home, if that is more convenient.

Premier is apart from the private client services the bank offers to its elite group of high net-worth clients, but the former would ideally handle some of the banking needs for private clients as well.

As a private client, the bank offers discretionary management of your affairs, including access to trust services, Mr. Brown said.

“We are very much integrated.

“A key issue is identifying the customer need, and that takes place in a conversation between the customer and the relationship manager.

“If in the course of that discussion we discover, the best opportunity is to have discretionary management, our job is to refer them up to the private client group,” Mr. Lunn said.

“The approach is very much to have direct conversations with customers. It is very important that the service that we offer matches the needs of the clients. The Premier banking service is very much personalised and there are some customers who are very happy to do things for themselves, and may determine this is not right for them.”

Although the benefits of Premier may not be of interest to all, Mr. Lunn said 99 percent of the bank's conversations with those eligible for membership had been greeted with keen interest.

It is not hard to see why, with it appearing that access to Premier services frees up its clients from many of life's more mundane tasks.

The job of a Premier relationship manager is to help clients get the most out of what the Bank of Bermuda and HSBC has to offer, and can ‘fast track' members to specialist services within the vast HSBC network, a glossy 30-page brochure tells prospective clients.

The Bermuda managers of Premier refer to it as “one stop” banking but stress that the personalised services extend beyond the obvious ones like access to financial planning, investment accounts, loans, multiple ways to access your money, and branded Premier banking accounts, debit cards and credit cards.

Really, Premier is a bit like your personal assistant: the service can source emergency cash for you (up to $1,000 in many locations around the world, and around the clock), help you replace lost travel documents, arrange car hire and hotel stays, even have gifts delivered to that special someone when you are on the road.

For the business traveller, Premier representatives can help you make arrangements at your destination for use of a conference room, a cell phone or pager, laptop computer, temporary staff services and interpretative services.

The perks don't end there: A call from a Premier representative to a popular restaurant may get you a hard-to-get dinner reservation on the spot, they'll chase down lost luggage for you, arrange medical transport if a serious health problem can't be dealt with where you are, and God forbid you die away from home - Premier can assist in the return of your mortal remains.