HSBC Bank Australia
This article needs additional citations for verification. (August 2018)
|Martin Tricaud, CEO|
|Products||Financial services, consumer banking, investment banking, wealth management, mortgages, personal loans, credit cards|
|Parent||HSBC Holdings plc|
HSBC Bank Australia Limited (formerly the HongkongBank of Australia Limited) is the Australian subsidiary of HSBC. The bank offers a wide range of financial services in Australia through a network of 36 branches and offices. These services include retail and commercial banking, financial planning, trade finance, treasury and financial markets, payments and cash management and securities custody.
HSBC Bank Australia was granted a banking licence in 1986, although the bank had originally established an Australian presence as Hongkong Finance Ltd in 1964. It is a foreign bank in Australia, offering a wide range of banking products and services to the retail, commercial, corporate and institutional sectors.
HSBC was granted an Australian banking licence in 1986, after the Australian federal government changed the rules to allow foreign banks into the country. HSBC was not the first foreign bank to enter Australia, the first was Chase-AMP, but HSBC was one of the first foreign entrants into the business banking sector.
- 1986 — launched Commercial Financial Services
- 1991 — launched Personal Financial Services
- 1992 — began to be profitable after several years of losses
- 1995 — introduced discount home loans in Australia
- 1997 — introduced telephone banking and credit cards
- 1998 — established HSBC InvestDirect (Australia) Limited
- — introduced financial planning services in Australia
- 2001 — acquired NRMA Building Society Limited
- — launched internet banking for personal customers in Australia
- 2005 — sold Australian asset management business to Challenger Financial Services
- 2006 — sold broker originated mortgage book to Firstmac
- 2008 — established Global Investments business
Products and services
This section contains content that is written like an advertisement. (May 2021)
All of HSBC's transaction accounts include a linked Visa Debit card, fee-free access to over 3000 ATMs Australia-wide, which include those from HSBC and banks that offer access to fee-free ATMs, access to mobile and internet banking, and are rated 5 stars for outstanding value by Canstar.[when?]
HSBC Premier, which is available in Australia and in other markets within the HSBC Group, is a premium banking service that is available for its wealthy clients, and includes a personal financial planner service, an online share trading platform and SMSF assistance to advise upon all types of personal and business investments.
HSBC credit cards include low rate, low fee and rewards cards, with features including low interest rates and annual fees, balance transfer offers and an ability to earn HSBC Rewards points which can be redeemed for a range of products and services, or Qantas Points towards the Qantas Frequent Flyer program.
HSBC home loans feature flexible repayment plans, a Personal Relationship Manager and the ability to easily switch a home loan from another bank.
HSBC personal loans provide the ability to borrow money when needed for a range of situations. Applications can be completed online, with quick approval and transfer of funds, along with fixed repayments. HSBC's personal loans were rated an expert's choice by Mozo for Overall Value.[when?]
HSBC Insurance products include general home and contents or landlord insurance, car insurance, life insurance including critical illness cover and life cover, as well as travel insurance, issued by Allianz Australia Life Insurance Limited.
- Banking in Australia
- List of banks
- List of banks in Australia
- List of banks in Oceania
- Reserve Bank of Australia
- Australian Prudential Regulation Authority
- Australian Securities and Investments Commission
- About HSBC
- "HSBC BANK AUSTRALIA LIMITED ACN 006 434 162". Retrieved 10 March 2021.
- "HSBC FINANCE (AUSTRALIA) PTY LIMITED ACN 000 481 907". Retrieved 10 March 2021.
- "HSBC Bank Accounts | Transactional, Savings - HSBC AU".
- "HSBC Personal Loans | Loan Finance Online - HSBC AU".
- Barry Williams (December 2006). "Foreign Banks: What Do We Know". Economic Papers, Special Edition. Economic Society of Australia.
- Dr Diana Beal (2002), Overview of Financial Services Post-Deregulation