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30-Day Service Pledge

Terms and Conditions

General

  1. The ‘30-Day Service Pledge’ programme covers the following list of products:
    • Securities Margin Trading Service Account
    • Stocks Monthly Investment Plan
    • Unit Trusts includes Lump-sum Open-end Funds and Unit Trust Monthly Investment Plan
    • Life Insurance
    • Personal Instalment Loan
    • HighAdvance Mortgage
  2. For the purpose of the ‘30-Day Service Pledge’ programme, ‘30 days’ shall refer to 30 calendar days.
  3. Customers who have reached the age of 65 and above on the date of product purchase or service application (‘senior customers’) are eligible for an additional 30-day period, which means a total of 60 days, for submitting the refund / waiver request under this programme ‘60-day programme’. ‘60 days’ shall refer to 60 calendar days. The ‘30-Day Service Pledge’ and 60 day programme are applicable subject to customer’s eligibility to apply for the products listed in clause 1 above. ‘30-Day Service Pledge’ and 60 day programme are collectively referred to as (‘the Programme’).
  4. To be eligible for a refund / waiver, the refund / waiver request must be submitted within 30 days of successful purchase of eligible products by customers aged below 65 (‘general customers’) (or within 60 days by senior customers) or such later date as expressly allowed under these terms and conditions. The refund / waiver of specified fees or premium will be made within 30 days from receipt of the refund / waiver request by HSBC or collection of the relevant fees or premium, whichever is later.
  5. Only products or services listed in clause 1 above and purchased from The Hongkong and Shanghai Banking Corporation Limited, Hong Kong (and its successors and assigns) (‘HSBC’) or HSBC Life (International) Limited and those covered in the ‘30-Day Service Pledge’ webpages are eligible for the Programme (‘eligible products / services’).
  6. All life insurance plans are underwritten by HSBC Life (International) Limited. HSBC Life (International) Limited is authorised and regulated by the Commissioner of Insurance of the Hong Kong Special Administrative Region. HSBC is an appointed insurance agent authorised by HSBC Life (International) Limited.
  7. In case a customer has received any promotional offers for the purchase of an eligible product / service and subsequently requests to cancel the purchase and apply for refund / waiver under the Programme, the customer is required to return the promotional offers to HSBC unused and in good condition. Failing to do so will result in the customers incurring a charge by HSBC for the full market value of the promotional offers.
  8. Offers under this programme are applicable to personal customers of HSBC only and who have successfully applied for any of the products listed in clause 1 in their own name.
  9. HSBC reserves the right to alter these terms and conditions from time to time and notify the customer of such alterations in any manner as it thinks fit (including display at the Bank’s branches).
  10. The tables and footnotes to these terms and conditions set out in the ‘30-Day Service Pledge’ webpages shall for all purposes form part of these terms and conditions.
  11. No person other than the customer and HSBC will have any right under the Contracts (Rights of Third Parties) Ordinance to enforce or enjoy the benefit of any of the provisions of these terms and conditions. In the event of any dispute arising from the Programme, the decision of HSBC shall be final and conclusive.
  12. If HSBC, at its sole discretion, determines that a claim does not fall within the scope of the Programme, is not legitimate or amounts to an abuse of the Programme, HSBC reserves the right to reject the application, refuse to make the refund / waiver or otherwise debit the customer’s account(s) for the returned banking service fees made without further notice, as shall be applicable and HSBC’s decision in this regard shall be final and conclusive.
  13. These terms and conditions are subject to prevailing regulatory requirement.
  14. In the event of any discrepancy or inconsistency between the English and Chinese versions of these terms and conditions, the English version shall prevail.
  15. All the terms and conditions listed herein are governed by and construed in accordance with the laws of Hong Kong Special Administrative Region.
A. Investment
Eligible product / service
Terms Second ColumnRefund / waiving of the corresponding...

Securities Margin Trading Service Account

Close the Securities Margin Trading Service Account within 30 days from the account set up date for general customers, or within 60 days for senior customers

Safe custody fee

Stocks Monthly Investment Plan

Terminate the Stocks Monthly Investment Plan and sell the shares subscribed through the Plan within 30 days from the 1st amount debit date for general customers, or within 60 days for senior customers

Brokerage fee of the purchase and sale transaction

Unit Trust - Lump-sum Open-end Funds

Sell the funds within 30 days for general customers or within 60 days for senior customers from the debit date

Initial subscription fee

Unit Trust Monthly Investment Plan

Terminate the Unit Trust Monthly Investment Plan and sell the related funds within 30 days for general customers or within 60 days for senior customers from the 1st amount debit date

Initial subscription fee (if applicable) and termination administration fee of HKD80 per plan

16. To be eligible for a refund / waiver in relation to unit trusts, the subscription of Unit Trust - Lump-sum Open-end Funds should be effected through HSBC Investment Services Account or Unit Trusts Account except FundMax Account.

17. To apply for a refund / waiver of the specified fees for eligible investment products or services, customers must submit the prescribed fee refund / waiver request form together with the redemption, termination and / or sale instruction.

18. To be eligible for a refund / waiver of the specified fees, the sale of products (if required) must be made in the same quantity as the initial purchase / subscription order, which for Stocks Monthly Investment Plan shall refer to the number of shares and for Unit Trusts / Unit Trust Monthly Investment Plan shall refer to the number of units.

19. The refund / waiver of the specified fees for eligible investment products or services will be made within 30 days from receipt of the request by HSBC or collection of the relevant fees, whichever is later. The specified fee will only be refunded / waived if it has been incurred and paid by the customer and relates strictly to the purchased eligible product / service. Any fee (or any part thereof) that is payable other than in relation to the purchased eligible product / service, will remain payable and will not be eligible for a refund / waiver.

20. For refund / waiver in relation to unit trusts, if the currency of the initial subscription fee or the administration fee is not the same as the denomination of the settlement account for receiving the refund / waiver, the initial subscription fee or the administration fee refund / waiver will be converted into the denomination currency of the settlement account at the prevailing exchange rate as determined by HSBC.

21. Investment involves risk. For the avoidance of doubt, the Programme does not apply to any loss suffered as a result of any purchase and sale of investment products, including without limitation any difference in the buy and sell spread. Customers shall bear any losses and be entitled to any gains as a result of any purchase and sale of investment products and HSBC shall not be responsible for any losses incurred.

22. The information in this document does not constitute an offer for the purchase of any investment in any products or services referred to herein.

B. Insurance
Eligible product 
Terms Refund / waiving of...

Life insurance

Cancel the policy within 30 days for general

customers (i.e. life insured with actual age below

65 on application signed date) or 60 days for senior customers (i.e. life insured with actual age at 65 and above on application signed date) from the policy delivery date or the delivery of a notice informing the customer about the availability of the policy and the expiry date of the Cooling-off Period (‘Service Pledge Cooling-off Period’)

Premium paid (market value adjustment will be made for investment linked plan and single payment life policies)

 

23. The offers are applicable to all life insurance policies applied and approved.

24. Offers under this programme are not applicable to policies applied under a company name.

25. To apply for refund / waiver of life insurance premiums, customers can get the ‘Request for Life Policy Surrender / Cancellation’ from any HSBC branch and submit the completed form to HSBC Life (International) Limited within the Service Pledge Cooling-off Period.

26. No refund / waiver will be made if a claim has already been paid.

27. For investment-linked insurance plan and single payment policies, refund / waiver of premiums paid will be subject to any adjustment as a result of any reduction in the market value of the investment before policy charges. Accordingly, customers may suffer from an investment loss and receive back less than the premium paid. Please refer to the principal brochure for details of the market value adjustment.

C. Personal Loans
Eligible product 
Terms Waiving of...

Personal Instalment Loan

Fully repay the loan within 30 days from initial loan drawdown  

Early repayment fee of 2% of outstanding principal amount 

28. The offer is only applicable to customers applying for HSBC’s Personal Instalment Loan and it is not applicable to loan redrawn.

29. Early repayment fee of 2% of outstanding principal amount will be waived subject to repayment of the outstanding principal amount of the loan and the daily interest, calculated on a pro rata basis, incurred between the date of drawdown and the date the Early Repayment Application Form is received by HSBC. The calculation of interest payable shall be in accordance with the method applied by HSBC from time to time in apportioning repayments between interest and principal.

D. Mortgages
Eligible product 
Terms Waiving of...

HighAdvance Mortgage

Fully repay the mortgage loan within 30 days forgeneral customers or 60 days for senior customers from loan drawn date 

Full prepayment administration fee

30. The offer is only applicable to customers (i.e. borrowers) who have successfully applied for HighAdvance Mortgage.

31. Notwithstanding the above, eligible customers shall repay to HSBC the following as stated in the terms and conditions of the related facility letter:

a. interest accrued for the period from the date of drawdown to full prepayment;

b. partial prepayment administration fee (if applicable);

c. full amount of the cash incentive or subsidy (if applicable); and

d. other prepayment fee (if applicable)

32. Other fees and charges that are for account of the customers (including but without limitation to Mortgage Insurance Premium collected by HSBC and paid to The Hong Kong Mortgage Corporation Insurance Limited#, or all reasonable costs and expenses, such as legal fees) will not be refunded or waived by HSBC.

33. To apply for waiver of the full prepayment administration fee, customers can visit any HSBC branch to complete the ‘Mortgage Loan Account Instruction Form’ and will be required to fully repay the mortgage loan within 30 days from the loan drawdown date for general customers. For senior customers, full repayment of the mortgage loan can be made within 60 days from the loan drawdown date.

34. HighAdvance Mortgage loan application is subject to approval by HSBC and final approval by The Hong Kong Mortgage Corporation Insurance Limited#.

35. Each mortgage loan is offered subject to the terms and conditions as stated in the related facility letter, which shall prevail in the event of any inconsistency within the terms and conditions stated herein.

# Effective from 1 May 2018, HighAdvance Mortgage Loan application will be under Hong Kong Mortgage Corporation Insurance Limited.

The information in this document does not constitute an offer for the purchase of any investment in any products referred to herein. This document has not been reviewed by the Securities and Futures Commission of Hong Kong.