Did you know that you can transfer foreign currencies held in other domestic institutions into your HSBC Premier Account without converting them into Yen? HSBC Premier will present you with a gift of 4,000 Yen for each eligible domestic foreign currency remittance. Transfer your foreign currency assets into your HSBC Premier Account and receive the gift. * A remittance fee stipulated by the relevant financial institution will be charged.
Only customers who remit funds into their HSBC Premier Multi Currency Savings Account (foreign currency) after 1 August 2009 are eligible for this offer.
Please be aware that remittances in Yen or remittances from another domestic financial institution by converting foreign currency into Yen will not be eligible for this offer.
For the remitted foreign currency to be deposited as is, when entering your account number in the documentation required by each financial institution, add g-777h at the end of your HSBC Premier Customer Number (three-digit branch code and six-digit account number).
The gift will be credited to your HSBC Premier Yen Savings Account within a week after the eligible transaction has been confirmed.
This offer is intended for individual customers holding an HSBC Premier Account in Japan.
Risks and Fees of Foreign Currency Deposits
Foreign Currency Deposit carries foreign exchange fluctuation risk. Due to foreign exchange fluctuation, the actual Yen equivalent amount in foreign currency could be smaller than the original amount in Yen at the time of foreign currency deposit contract (i.e. there is a risk of loss of principal on a Yen basis).
When you convert Yen into a foreign currency (at the time of deposit), or a foreign currency into Yen (at the time of withdrawal), a one-way foreign currency exchange fee is levied (for example, 1.00 Yen per 1 U.S. Dollar, 7.50 Yen per 1 Turkish Lira, 1.5 Yen per 1 South African Rand, etc.).
Therefore, even if there is no foreign exchange fluctuation, there is a risk that the actual Yen equivalent amount in foreign currency could be smaller than the original amount in Yen at the time of foreign currency deposit contract (i.e. there is a risk of loss of principal on a Yen basis) due to our two-way (selling and buying) foreign currency exchange fee (for example, 2.00 Yen per 1 U.S. Dollar, 15.00 Yen per 1 Turkish Lira, 3.00 Yen per 1 South African Rand etc.).
In general, emerging markets currencies have a lower supply and are less traded in the market compared with the currencies of more established markets. Therefore, they involve the risk of substantial fluctuation in the exchange rates, or even the impossibility of transacting foreign exchange due to the economic or market conditions or political situation in the relevant country, among other factors.
<Foreign Currency Cash Handling Fees>
Foreign currency cash handling (4 currencies) fees will be charged for the cash handled over the counter. The fee varies depending on the currency. For example, the fee for Pound Sterling deposit or withdrawal is 4 Yen per Pound Sterling in the case of an over-the counter transaction.
Deposits in HSBC are not covered by Japan's Deposit Insurance scheme.
Notes
Only customers who remit funds into their HSBC Premier Multi Currency Savings Account (foreign currency) after 1 August 2009 are eligible for this offer.