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How HSBC can help your child when they study abroad

Attending an overseas university can be an exciting, life-changing experience that will help broaden a student's horizons. If you're thinking about sending your child to study abroad, you probably have quite a few questions and concerns. But it doesn't have to be a complicated procedure. Let's go through the process and see how HSBC Premier can help simplify things.

Step 1: School selection

The first step in your child's journey is deciding where they want to study. It’s a big world, and there are top universities in the US, UK, Australia, Canada and elsewhere. Each of these places will bring unique challenges and experiences, but which one is right for your child?

Once you've picked the country, choosing the university (and subjects) is even more difficult. If you're just beginning this process then one of the first things you'll notice is that there are a lot of universities out there. Tonnes. And it's easy to get confused by all the different offerings and requirements of so many different universities.

Fortunately, as an HSBC Premier customer, you'll get preferential discounts on expert advice from the international education services company, PrepWorks. They know the requirements and application processes for the world's top boarding schools and universities, especially in the UK and US. Their expertise covers everything from entrance exams and application forms to different documentation requirements you may not be aware of.

A man and woman are looking at papers; image used for HSBC Malaysia Premier Education Help Your Children Study Abroad article

Step 2: Getting ready for the big move

Congratulations! Your child received the offer letter from their preferred university and their journey abroad finally begins. An international move is exciting, but it can also be nerve wracking. For the first time in their lives your child will be responsible for setting up their own home, feeding themselves and running their own schedules. With such adult responsibilities to cover, will your child have easy access to their finances?

Once again, HSBC Premier has you covered. Premier customers can extend their status to family members1. So when your child gets to their new city, we'll have a bank account waiting for them2. The best part is you can set it up in advance; it'll be ready to go even before they arrive in their new country so they can hit the ground running. They won't need to carry a tonne of cash or wait for an international wire transfer to come through before they can buy textbooks, furnish their new home or generally get settled.

A father is helping his daughter move into her dormitory; image used for HSBC Malaysia Premier Education Help Your Children Study Abroad article

Step 3: The school year begins

When classes start for the semester, your child will have their days filled with challenging classes and interesting social interactions. But where will they go at the end of the day? Whether they're living in a dorm on campus, getting their own place, or sharing a place with flatmates, the price of being a student can add up. They will have daily expenses as well as the costs of room and board.

It can be stressful for both you and your child not knowing if they will have enough cash to make their next payments. But HSBC Premier takes that worry away with our Global View Global Transfer3 service. It lets you access all your accounts worldwide with a single log on, and send money instantly between your globally-linked HSBC accounts with no transfer fees.

Sending your child to study abroad is a huge step, but we're here to support you. Apply for HSBC Premier today and let us take this journey with you.

A girl is using her laptop; image used for HSBC Malaysia Premier Education Help Your Child Study Abroad article

1Premier Family extension to one legal spouse and two children (max) until their 28th birthday with Primary Premier customer in Malaysia meeting the Premier criteria via: (i)Total Relationship Balances of at least RM200,000 at all times; (ii)Premier Mortgage & (iii)Premier by Perks@Work.

2Subject to host country's approval.

3Subject to destination country’s local regulatory and HSBC internal policy requirements.

Information provided above is for reference only.

This document is issued by HSBC Bank Malaysia Berhad (Company No. 127776-V) (“we”, “us” or “our”). The contents of this document are confidential and are intended for use by the customer whom this document is prepared for and addressed to the customer (“you” or “your") exclusively and may not be divulged without our prior and express consent. This document is provided to you solely for the purposes of enabling you and us to review how we and other members of the HSBC Group (collectively "HSBC") currently provide products and services to you and to discuss how HSBC can enhance and improve on the same. Any other use is prohibited unless you first request and obtain our written permission.

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