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I have an HSBC Expat account. Has anyone applied for a IDC card via HSBC? Does it appear (and be managed by) HSBC? Or does it appear on the amex app and get all the offers etc.?
I’ve had one for over 10 years. HSBC doesn’t get involved other than your bill is automatically direct debited off your HSBC account and is fee free courtesy of your HSBC sponsorship so to speak.
Amex IDC runs off a separate login from your other Amex cards in the UK and as far as I can see there’s no offers available.
Thanks @Zana. So it automatically debits from your account? I didn’t realise I could set up direct debits on the Expat (USD) account!
Not sure whether you could set up any other direct debits off that HSBC Expat USD account but the Amex IDC is definitely paid automatically each month with funds in the Expat USD account.
I have to say that a decade ago, it was a very good combined product when I used to get partially paid in USD and the IDC enabled me to spend in USD. Now, there’s so many other potential products out there. One could get a Wise USD account to get paid easily by US folks or if the USD account needs to be based in the UK, then Revolut has one of those. There really isn’t any particular reason why I need the Amex IDC anymore. Unless of course you spend a substantial amount off that card as there’s Membership Rewards but I think you have to pay an annual fee to accumulate points.
@Zana you’re right of course. But the free HSBC product offers me free, unlimited, USD cash withdrawals, backed by a reliable bank. I can also walk in to a UK branch and pick up USD cash without any fees. I’ve heard too many horror stories about blocked accounts/cards for me to rely on revolut or wise. The IDC gives me Amex protection, travel inconvenience, and MR points for free (green card annual fee potentially subsidised by HSBC). I do retain revolut/wise in case I wish to turn USD back to GBP. But for same-currency transfers HSBC are currently offering free worldwide transfers, trumping revolut/wise fees, which are steadily increasing. Even internal currency conversions now have a lower 1.5% margin with HSBC, so are getting closer to revolut/wise 0.5%-ish fees.
- This reply was modified 55 years, 4 months ago by .
The last time I talk to a “relationship manager” with the Expat account they also asked for 50K saving/investment in USD/Euro if I want an Amex USD/Euro card. This is additional to any GBP investment you might have with them.
Is that the same you have been told as well?
“HSBC Expat will stop accepting new American Express ICC card applications on the 15th June 2022.”
“HSBC Expat will stop accepting new American Express ICC card applications on the 15th June 2022.”
Any idea why?
The last time I talk to a “relationship manager” with the Expat account they also asked for 50K saving/investment in USD/Euro if I want an Amex USD/Euro card. This is additional to any GBP investment you might have with them.
Is that the same you have been told as well?
No – clicking through online it says you need $50k, but then it says if you have it with another institution you need to provide proof you have it. I don’t have that much with HSBC so I’m expecting them to ask.
“HSBC Expat will stop accepting new American Express ICC card applications on the 15th June 2022.”
That’s why I decided to apply now…
The last time I talk to a “relationship manager” with the Expat account they also asked for 50K saving/investment in USD/Euro if I want an Amex USD/Euro card. This is additional to any GBP investment you might have with them.
Is that the same you have been told as well?
Are you a premier customer in any country?
“HSBC Expat will stop accepting new American Express ICC card applications on the 15th June 2022.”
Any idea why?
Nope. I guess they probably want to sell more of their own premier world elite MasterCard.
The last time I talk to a “relationship manager” with the Expat account they also asked for 50K saving/investment in USD/Euro if I want an Amex USD/Euro card. This is additional to any GBP investment you might have with them.
Is that the same you have been told as well?
Are you a premier customer in any country?
Yes. UK based on income.
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