- 1. What is Direct Banking?
- 2. What are the products offered by HSBC Direct?
- 3. Is HSBC Direct a different company from HSBC?
- 4. Is the HSBC Direct Savings Account insured by KDIC?
- 5. How is HSBC Direct Savings Account different from CMA?
- 6. How do I open a HSBC Direct Savings Account?
- 7. How do I deposit and withdraw money from my HSBC Direct Savings Account?
- 8. What is a Digital Certificate?
- 9. How do I get a Digital Certificate issued?
- 10. Is it true that HSBC Direct services are available around the clock?
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 What is Direct Banking?- Direct banking is HSBC's new approach to banking. Banking services are provided primarily by the internet and call center. By simplifying operations and service channels, cost savings are transferred to you in the form of better rates and other tangible and intangible benefits.
- What are the products offered by HSBC Direct?
- At present we have the HSBC Direct Savings Account, HSBC Direct Term Deposit and HSBC Direct Unit Trust. More products tailored to meet your needs will be provided soon.
- Is HSBC Direct a different company from HSBC?
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HSBC Direct is a brand name for the new direct banking service offered by HSBC.
* Why does HSBC Direct have a different website address from HSBC?
HSBC Direct is a new banking service from HSBC. We have set up a dedicated website so that we can provide you with simple and easy to use products and services for your banking needs.
- Is the HSBC Direct Savings Account insured by KDIC?
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Yes, the Korea Deposit Insurance Corporation (KDIC) provides insurance on deposits in HSBC Direct Savings Account up to KRW 50 million per depositor.
* Is there a minimum balance requirement to open an HSBC Direct Savings Account or to obtain the per annum interest rate?
No minimum balance is required to open an HSBC Direct Savings Account.
- How is HSBC Direct Savings Account different from CMA?
- A Cash Management Account (CMA) is a financial product provided by merchant banking companies or securities companies. You can deposit and withdraw funds at your CMA account just as you freely as you can with your HSBC Direct Savings Account. Not all CMA products are the same and each company offers different features and benefits. CMA accounts offered by securities companies are not insured by KDIC and are usually linked to another MMF or RP product.
In comparison, HSBC Direct is a savings account that allows you more transaction freedom than a CMA account. Enjoy competitive interest rates with no transfer fees.
- How do I open a HSBC Direct Savings Account?
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There are three major steps involved in opening a HSBC Direct Savings Account.
First, visit the HSBC Direct website (www.hsbcdirect.co.kr) and click on the “Apply Now” button.
Fill in the online registration form and set your Internet Banking user ID, Internet Banking Password and Phone Banking Password for future use.
Second, once your online registration is successfully processed, one of our HSBC Direct Banking Specialists will contact you before the end of the next working day to arrange an appointment for a Personal Identity Verification. After you complete the Personal Identity Verification with our HSBC Direct Banking Specialist, you will receive a Security Device.
To complete the account opening process, log in to the HSBC Direct website to register your Security Device and Digital Certificate by following the instructions. (The HSBC Direct Banking Specialist will let you know when you can log on to our website)
Once your HSBC Direct Savings Account is successfully opened, you can use other banks' ATMs and Internet Banking or Phone Banking services, or counter services to transfer money to your HSBC Direct Savings account.
- How do I deposit and withdraw money from my HSBC Direct Savings Account?
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<How to make deposits to your HSBC Direct Savings Account>
You can use Internet banking, phone banking, ATM or counter services to transfer money to your HSBC Direct Savings Accounts.
<How to make withdrawals from your HSBC Direct Savings Account>
You can make a withdrawal by transferring from your HSBC Savings Account to any of your other bank accounts via Internet or phone banking at no charge. Otherwise, you can transfer/withdraw money from your HSBC Direct Savings Account at ATM.
- What is a Digital Certificate?
- A Digital Certificate is a certificate of one´s seal impression issued by a Certification Authority for electronic transaction purposes. A Digital Certificate is used to confim your identity, prevent forgery and falsification of documents and as proof of transaction authenticity. Your Digital Certificate stores many types of information such as type of version, serial number, expiration date, name of certification authority, digital signature algorithm, user’s name and personal information. A digital signature is used as a seal impression on electronic documents and enables us to identify the person who prepared the document as well as its authenticity.
- How do I get a Digital Certificate issued?
- Visit HSBC Direct website and select ‘Digital Certificate Center’ menu, then select ‘issue/reissue'. If you already have a Digital Certificate from other financial institutions, you can register and use your previous Digital Certificate without additional issuance. (Note: You may only use Digital Certificate for Banking/Insurance instead of the Universal Digital Certificate)
- Is it true that HSBC Direct services are available around the clock?
- Yes. Automated Phone banking service (ARS) is available 24/365.
Please note that fund transfer may be restricted between 11:30 pm to 12:10 am due to regular inter-bank network maintenance. HSBC Direct Banking Specialists, however, will be available from 9:00 am to 5:30 pm Monday to Friday.
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