HSBC’s passport service wins the race for opportunity

HSBC’s unique Passport account, the first and only banking service for migrants of all nationalities in the UK, was named winner of the Business Impact category at the Race for Opportunity’s (RfO) annual Chairman’s Awards ceremony last night.

Race for Opportunity is a growing network of private and public sector organisations working across the UK to promote race and diversity. Race for Opportunity challenges organisations to underpin diversity strategies with concrete actions.

HSBC’s Passport service won the Business Impact category of the Race for Opportunity awards, which recognises how organisations seek to engage with and understand the needs of customers, and the solutions they develop to meet these needs.

Skye MacFarlane, manager of international services at HSBC, said: “As the world’s local bank, diversity is central to HSBC’s way of operating and Passport is an example of the bank’s brand in action. We’re delighted that we have been recognised by Race for Opportunity for the work we are doing to make banking services accessible to people of all nationalities coming to live in the UK.”

HSBC was the first bank in the UK to offer a banking service specifically for new arrivals to the UK when it launched Passport in June 2006, and it remains the only bank to offer a banking service to migrants of all nationalities - not just new arrivals from Eastern Europe.

The service features a current account, preferential rate savings account and discounted overseas money transfers, as well as relocation advice online and over the phone in six languages - Polish, Spanish, French, Slovak, Czech and English . Since launch, more than 75,000 accounts have been opened by people from more than 200 countries, far exceeding the bank’s expectations.

Sandra Kerr, director of the Race for Opportunity campaign, said: “The Race for Opportunity campaign has been working with private and public sector organisations for more than ten years helping them to recognise the business case for race equality from both an internal and external perspective. As such, we were delighted to learn of HSBC’s Passport initiative, which addresses a key barrier many migrants face when settling into a new life - setting up a bank account.”

HSBC’s Passport service includes:

24-hour relocation advice and local knowledge online and over the phone in six languages (Polish, Spanish, French, Slovak, Czech and English) in partnership with red24;

a fully-functional current account, enabling customers to set up standing orders and direct debits, and to transact online, over the phone or in-branch;

a guaranteed international debit card which can be used in retail outlets and at 59,000 Link ATMs in the UK and 900,000 Cirrus / Maestro ATMs worldwide;

discounted international money transfers through the bank’s Priority Payment system and access to WorldPay for lower-value international transfers;

10 per cent on savings with the bank’s preferential Regular Saver - the highest paying savings account on the market, or instant access to savings with HSBC’s Flexible Saver; and

a SIM card, £10 free credit and discounted international and local mobile phone calls through Carphone Warehouse’s MobileWorld for those who want to stay in touch with family and friends at home.

Customers can apply for Passport at hsbc.co.uk and access relocation information online at red24.info/relocate before leaving their home country (full access to the site is provided once the customer signs-up). Alternatively, migrants can apply for Passport in any one of the HSBC’s 1,500 branches on arrival to the UK.