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HSBC opens NRI office to facilitate cross-border transaction
Monday, October 29, 2007

HSBC with a formidable global reach and network has added a new feather to its cap. It has opened a Non-Resident Indian (NRI>) representative office of the Hong Kong and Shanghai Banking Corporation Limited in India (HSBC India) in Fremont, California, the idea behind which is to make banking transactions more convenient for the NRI community based in California.

The various functions of the NRI office will include facilitating personal financial services including NRI remittances between India and USA, servicing HSBC India's NRI customers and serving as a conduit between NRIs and HSBC India to facilitate banking requirements.

“We believe in providing an appropriate and market-leading level of service to all our customers in the US and this new offering will ensure a seamless banking experience for the NRI community," asserts Brian Gregson, HSBC Senior Vice President with the bank, California Region.

HSBC Bank USA has announced a new banking solution for NRIs, which allows the NRI community in the U.S. to conduct cross-border banking transactions and avail of different tailored deposit, mortgage and investment products.

The following features entail added advantage to the NRI customer:
  • It provides assistance with account opening with HSBC India while in the US, as well as in account opening with HSBC USA, while in India.
  • FastCheque - It allows free remittances to HSBC India from the US, at competitive exchange rates, by USD checks.
  • FastClick - It makes free remittances from the US to India possible through internet banking, whereby customers banking with both HSBC USA and HSBC India can remit monies to their NRI Accounts held with HSBC India, in a speedy and convenient manner.
  • It also helps NRIs in identifying a wide array of HSBC USA personal and commercial products.

 

The HSBC Limited in India offers a full range of banking and financial services to over 2.5 million customers through its 47 branches and 170 ATMs across 26 cities. Between the US and India, HSBC currently serves more than 160,000 NRI customers who demand global banking expertise and standards of service. The new solution with HSBC USA is a step towards making the process more seamless.

Related Readings

»HSBC Realty Fund in the Offing
»HSBC MF, Kotak MF launch new fund schemes
»HSBC offers Innovative Solutions to NRIs in US

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