HSBC Customer Encashment Service (I). Premier/ Premier Plus Account The Customer and his/her parents, spouse or children (collectively “Immediate Family Members”) who are authorized by the Customer will be entitled to overseas emergency encashment service, provided that Immediate Family Members should have opened bank accounts in the Bank or other HSBC banks in foreign countries. Such encashment shall not exceed USD 10,000 (or equivalent) per transaction. Other transactions and foreign exchange restrictions are subject to the Bank's internal policy and related regulatory requirements. The Customer shall designate one of the accounts with the Bank to be debited when applying for this service and further authorizes the Bank to debit funds from any other accounts with the Bank in the event of insufficient funds in the designated account. In the event that a foreign exchange transaction is involved, the Customer agrees that the debited amount shall be calculated at the Bank's board rate of the denominated foreign currency for the encashment at the debit date. The nature of foreign exchange transaction for declaration purpose is defaulted as travel expense. In case of emergency and in the event of insufficient funds in the Customer's saving/checking/current accounts with the Bank, the Bank may provide a single temporary line of up to USD 2,000 (or equivalent) corresponding to the Customer's encashment application, provided that the Bank reserves the right to grant such a line. Such a line shall be used in the full amount for a single drawdown. The customer agrees to repay the encashment amount in accordance with the related agreement and the Bank's Procedures.
