HSBC Vietnam boosts choices

December 07, 2011 | 15:01

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HSBC has launched a new Platinum Visa credit card and introduced the reduced varied administration fees for foreign currency transactions made with the bank’s credit and debit cards.

Sumit Dutta, HSBC Vietnam’s CEO, said both new customers and existing customers who chose to upgrade from their Gold Visa card to platinum would continue to enjoy the convenience, top-grade security and global recognition they expect from all HSBC credit cards.

Key features of the Platinum Visa include a generous credit limit of up to VND1 billion ($50,000) and global travel insurance worth VND10 billion ($500,000).

Also, card holders will have access to the 24/7 Visa Concierge Service which can organise emergency card replacement and encashment as well as help with travel plans and fine dining and event reservations.

The new Platinum Visa card is available to all employed Vietnamese people aged 18 years or over and with a minimum salary of VND40 million ($2,000) per month.

Self-employed workers will need to demonstrate monthly earnings of VND80 million ($4,000) and foreigners wishing to apply for the card must have a monthly salary of VND100 million ($5,000).

In another first for Vietnam, HSBC is also introducing a sliding scale of administration fees for overseas purchases made with the bank’s credit and debit cards – a move that will benefit all local customers.

Under the new scheme, Premier MasterCard credit card holders will now pay only 1.75 per cent while the new charges for Platinum Visa, Gold Visa and Classic Visa credit card transactions are all reduced to 2.25 per cent, 2.50 per cent and 3 per cent, respectively.