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HSBC creates “premier” branch in Canford Cliffs

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by Elaine Frei
HSBC creates "premier" branch in Canford Cliffs

The Canford Cliffs branch of HSBC (LSE: HSBA: NYSE: HBC; Euronext: HSBC; SEHK: 005) is about to become one of the most exclusive bank branches in the UK. Beginning in June, it will only accommodate “face-to-face” banking for what it calls its “premier” customers.

The new arrangement means that customers, in order to be able to talk to a teller or other bank employee, the customer must meet one of several requirements: they must have at least £50,000 in savings deposited with the bank; they must have a mortgage worth £200,000 with the bank; they must have a £100,000 mortgage with the bank and a £75,000 salary; or they must pay a fee of £19.95 per month for a “premier” account.

Other customers will still be able to use the branch’s cash machines to withdraw or deposit money, but if they want to talk to a human being, they will have to go to branches in Poole or Westbourne. A spokesman for the bank said that Canford Cliffs is “a unique location” in that it is a “very wealthy area” and a large percentage of the customers meet the requirements as a premier customer.

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News posted: April 12, 2007

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