HSBC Mastercard WE – annual fee refund as Jade benefit

[rakesh]

I am aware that HSBC is closing Jade accounts this year.
one of the benefits was the waiving of the £195 credit card fee.

understand the options are moving to private or automatically transitioning to a normal premier account.
Does anybody know if either option will retain the card fee refund?

Moved from HSBCprivate to Jade when they closed the local branch, never really saw any benefits, but happy to move to that division if anybody is aware of any advantages.

[Froggee]

I think Jade is closed. You, and I, are now catchily named HSBC Premier (Jade benefits retained) customers.

Or words to that effect.

They sent a letter dated 20th January saying that we are retaining Jade benefits. They list what is being kept and it includes the fee rebate on the World Elite card and we also continue to get slightly better travel insurance.

I’m not aware of any notable advantages from HSBC private bank, particularly if you don’t have a branch nearby where they can make you cups of coffee. I’ve had two interactions with HSBC Private and was singularly unimpressed. So I use HSBC for day to day banking but have a much more responsive private bank to take care of the retirement pot.

I expect at some point the retained Jade benefits will be removed. But this is HSBC so they might just stay unchanged for a decade as nobody will know how to remove them!

If they charge for the card I’d be downgrading to the free one as the points earning isn’t that exciting other than for Singapore Airlines for me and I don’t use the lounge access.

[Rob]

As above. My card is still free it seems.

[Lawro]

As with @Rob my card remains free and they even managed to automatically refund the fee this year without the usual three months of back and forth that has been required for the last six years at least.

Then again, all value from HSBC Jade was really lost for me when they swapped Quintessentially for Ten Concierge which has been a shocking downgrade.

[Rob]

I did a free ticket for Salon Prive off them this year to be fair! I also just got two £37.50 tickets for the food festival at Royal Hospital Chelsea next month (still available via the app).

[Lawro]

@Rob – yes, the dishing out of free tickets to various events seems to have certainly increased in the last 12 months, perhaps to cover up their general ineptitude when handling requests that might require the slightest bit of creative thinking/persistence on their part.