HSBC Bank Bangladesh PowerVantage Account (PVA)

Introduction
This report is about PowerVantage Account (PVA) of HSBC. PowerVantage Account is a unique customer proposition that is designed to meet your financial needs with a range of exclusive service. HSBC PowerVantage brings you great lifestyle, shopping and dining privileges through partnerships with popular merchants in Bangladesh. Non but only HSBC is providing this PowerVantage Account (PVA) service in Bangladesh.

An overview of HSBC Bank

In Bangladesh, the HSBC Group's history dates back to 1996 when The Hong Kong and Shanghai Banking Corporation (HSBC) Ltd opened its first branch. Today, the HSBC Group offers a comprehensive range of financial services in Bangladesh including commercial banking, consumer banking, payments and cash management, trade services, treasury, and custody and clearing. HSBC Asia Pacific group represents HSBC in Bangladesh. HSBC opened its first branch in Dhaka on 17th December, 1996 to provide personal banking services, trade and corporate services, and custody services. The Bank was awarded ISO9002 accreditation for its personal and business banking services, which cover trade services, securities and safe custody, corporate banking, Hexagon and all personal banking. This ISO9002 designation is the first of its kind for a bank in Bangladesh. The Hong Kong and Shanghai Banking Corporation Bangladesh Ltd. primarily limited its operations to help garments industry and to commercial banking. Latter, it extended to pharmaceuticals, jute and consumer products. Other services include cash management, treasury, securities, and custodial service. Realizing the huge potential and growth in personal banking industry in Bangladesh, HSBC extended its operation to the personal banking sector in Bangladesh and within a very short span of time it was able to build up a huge client base. Extending its operation further, HSBC opened a branch at Chittagong, three branch offices at Dhaka (Gulshan, Motijheel and Dhanmondi) and an offshore banking unit on November 1998. HSBC Bangladesh is under strict supervision of HSBC Asia Pacific Group, Hong Kong. The Chief Executive Officer of HSBC Bangladesh manages the whole banking operation of HSBC in Bangladesh. Under the CEO there are heads of departments who manage specific banking functions e.g. Personal banking, corporate banking, etc. General Background: Opened first Bangladesh branch in December 1996.

Network of 13 offices, 39 ATMs, 9 Customer Service Centers, an offshore banking unit, and offices in 7 EPZs. 1051 employees as of December 2010.

Key business areas: Retail Banking and Wealth Management. Commercial Banking. Corporate and Institutional banking. Global Markets. Shariah Compliant Banking.

Mission: Having regard to ethical values; to meet its customers financial needs in the fastest and most appropriate way, to continue innovative works in order to achieve: human resource with superior qualities, technological infrastructure and service packages. Vision: As a member of HSBC family which has been serving its millions of customers worldwide since 1865, to take our place among Bangladeshs most powerful, most profitable, most admired leader banks.

About PowerVantage Account

PowerVantage Account (PVA) is a unique customer proposition that is designed to meet your financial needs with a range of exclusive services. PowerVantage Account is an all-inone Savings and Current account that offers self-service banking to give you easy access to your account via our 24/7 ATM, Internet banking and Tele-banking services. Have the freedom to manage your finances anytime, anywhere while enjoying: The double security of HSBC's Internet banking service. The convenience of banking from our self-service banking lobbies. Peace of mind with PowerVantage Shield Personal Accident Coverage (optional).

Here are a few of the transactions you can do with your PowerVantage E-Chequeing account via online@hsbc, with complete confidence: Transfer of available funds from Savings to Current account and vice versa, when required. Free MEPS Interbank GIRO transaction for transfer of funds, loan installments and bill payments to other bank's account*. *Must be a MEPS InterBank GIRO participating bank. Pay utility and credit card bills either electronically or by Standing Instructions. Receive comprehensive composite monthly statement. Make placements for FlexiTime Deposits. Perform Electronic Share Applications (ESA). Perform Telegraphic Transfer (TT) and enjoy up to 45% saving on fees and charges on each transaction.

Preferential Services: Enjoy customized services from a dedicated Relationship Officer who will assist you with your banking requirements through a dedicated service desk and a cash counter. HSBC PowerVantage brings you great lifestyle, shopping and dining privileges through partnerships with popular merchants in Bangladesh. Fast track service for credit applications. Dedicated desk at Call Centre. Free endorsement of foreign currency against yearly travel quota.

Deposit Services: Personalized cheque book. Specially designed ATM card with enhanced cash withdrawal limit. Real-time viewing and managing of accounts through Personal Internet Banking

Credit Facilities: Clean Overdraft Facility up to a maximum limit of BDT 50,000* (Fifty Thousand Taka only). Preferential interest rates and discounts for lending products. Home Equity Loan up to 70% of apartment/building value.

Insurance Coverage: As a PowerVantage customer, you will enjoy free personal accident insurance coverage. Funds Management: Issue free of charge standing instructions enabling you to better manage your funds between accounts. Standing Instructions: You can set up standing instructions of any fixed amount to be paid to selected parties' accounts maintained with HSBC, free of charge. Eligibility:

To enjoy the benefits of HSBC PowerVantage, you need to maintain an average relationship balance of BDT 1 Million (including deposit balance of BDT 500,000) or process a minimum monthly gross salary of BDT 100,000 through HSBC in Bangladesh. PVA Benefits: Leisure Benefits Ambrosia 10% discount 1053, SK Mujib Road Agrabad, Chittagong The Aristocrat Ltd 5% discount House 16, Road 15 Gulshan 1, Dhaka Baby Land 10% discount Mamun Tower (Ground Floor) Nayasharak, Sylhet O2 10% discount House 157, Road 12, Block E Banani, Dhaka Ecstasy 5% discount R & F Tower, Kumar Para Sylhe

Our Values: To exceed customer expectations in service quality. To be a pioneer in the implementation of technologies those create distinction for its customers, employees and shareholders. To keep its reliability at the utmost level with the contribution of its strong capital structure and liquid assets. To make a positive contribution to the community To respect meritocracy during hiring processes, improving knowledge and skills of its employees, creating the mostly preferred work environment.

Conclusion At HSBC, we believe that your finances should improve your quality of life. That is why we created PowerVantage Account service, to ensure that you have essential banking tools to manage your finances.