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21 Business Opportunities in the UAE 2024

• Key emerging business sectors in the...
• Popular business ideas in the UAE/Du...
• The United Arab Emirates (UAE) strategic location, rapid economic growth, and free zones like the Dubai Multi Commodities Center (DMCC), offer an encouraging landscape to explore new business ideas.
• With world-class infrastructure and a pro-expats environment, the country is a prime destination for startups, entrepreneurs and others to explore business opportunities in rising sectors such as real estate, e-commerce, and more.

The UAE offers numerous opportunities for startups and SMEs due to its advantageous location, welcoming business environment, increasing foreign investors, and government encouragement of entrepreneurship.

The country's dedication to innovation and investment in key industries like real estate, consulting services, technology, renewable energy, and healthcare enhances its attractiveness for businesses looking to establish a presence in the region .

Key emerging business sectors in the UAE/Dubai

Here are the business sectors in Dubai that can offer you significant opportunities:

• International trade:  Dubai's reputation as an international trading hub, coupled with the growth of e-commerce, makes it a suitable expansion site for logistics and supply chain management businesses. This is further assisted by the growth of imports due to a large local expat market and reduced or eliminated tariffs through trade deals like the India-UAE Comprehensive Economic Partnership Agreement (CEPA). The non-petroleum imports include gold, diamonds, textiles, and broadcasting equipment.  
• Real estate : Thanks to Dubai's steady growth in sustainable living and smart cities, businesses can invest in residential and commercial properties, participate in infrastructure development projects, and provide property management and agency services.
• E-commerce : The country has the world's highest internet connectivity, making it an attractive market for e-commerce businesses. The government has also implemented policies to support the increasing demand for e-commerce.
• Tourism and hospitality : With the country's booming hotel sector and high demand for entertainment complexes, businesses can consider opening hotels, inns, and restaurants. This includes support services like tour operators, excursion services, and events management offerings.
• Manufacturing : UAE's location and advanced infrastructure make it a key player in the global manufacturing market. Thanks to the government's focus on developing a knowledge-based economy, businesses can consider expanding into high-tech manufacturing.

Popular business ideas in the UAE/Dubai 2024

Known for its tax-friendly policies, top-quality infrastructure, and favourable location bridging Europe, Africa, Asia, and the Middle East, Dubai offers a dynamic environment for small businesses to flourish. Here are 21 business ideas you can explore:

1. Logistics and supply chain management

In 2022, the country's exports surged to $402 billion, while imports amounted to $312 billion . This strong trading performance can be linked to the growth of e-commerce, fostering an encouraging environment through trade deals. These deals facilitate importing goods to cater to the large local expat market and exporting local goods overseas to meet foreign demand, with trade deals like the India-UAE CEPA and the UAE-South Korea Free Trade Agreement ,  promotes further international trade opportunities.

Home to several air and sea ports, notable options for expanding your operations include:

• Abu Dhabi  Ports: Khalifa Port, Zayed Port, Abu Dhabi International Airport
• DP World UAE Region : Jebel Ali Port, Mina Al Hamriya, Dubai International Airport
• Other UAE Ports : Fujairah Port, Ras Al Khaimah Port, Sharjah International Airport

2. Healthcare

Known for its advanced healthcare technologies and preventive care, the country has become a popular destination for medical tourists worldwide. The medical tourism industry is worth nearly USD32 billion globally , with the government contributing significantly. If you’re operating in the medical business, consider healthcare offerings such as medical appliances, pharmacy stores, medical insurance, or even general wellness services.

3. Real estate

This sector is one of the most profitable, with consistent demand for buying, selling, renting, and managing properties. Dubai's real estate and construction sectors have grown strongly, contributing approximately 14.4% of the emirate's GDP . Favourable business conditions, especially in Dubai and Abu Dhabi, offer a conducive environment for your successful business growth.

4. Tourism and hospitality

UAE’s thriving tourism ecosystem, valued at USD 7.6 billion , positions itself as a prominent tourist destination. You can consider offering travel agency services or hospitality consultancy services, including market research, feasibility studies, and business planning even from your home country.

5. E-commerce

Online business is one of the fastest-growing industries in the country, with its revenue projected to reach USD 17.2 billion by 2027 . This is driven by a strong customer base across the country who prefer to shop online, making initiating an e-commerce platform a highly profitable business idea in Dubai.

6. Food and beverage

The country is known for its wide variety of worldwide cuisines, and the industry offers new business opportunities. If you’re operating in this industry, look into food manufacturing, foodstuff trading, food truck businesses, and traditional restaurants. The industry is also expected to reach USD23.2 billion (AED 85.4 billion) by 2025 , and you can benefit from the country's location and easy access to raw materials.

7. Renewable energy

Substantial investments in clean energy in the country signify natural opportunities for renewable energy businesses. The country aims to invest USD 54 billion in energy and achieve carbon neutrality by 2050 . This includes developing low-emission hydrogen fuel and electric vehicle infrastructure. The nation's goal of carbon neutrality, supported by significant government initiatives, fosters a fertile ground for green business activities.

8. Education and training

The country offers promising business opportunities in the education and training sector due to the government's investment in education and training programs. Opportunities include professional training services and education technology. This is because the education market is projected to expand at a CAGR of 9.46% between 2023 and 2028 , with the sector's value expected to grow by USD 5.41 billion , highlighting the potential for business owners and investors who provide educational offerings such as learning materials, training, counselling, or Edutech solutions.

9. Digital marketing

With the country's advanced digital infrastructure and high internet speeds, the number of social media users in the country has increased from 4.40 million to 10.73 million . This digital growth offers your business various opportunities for digital marketing services, including social media management, search engine optimisation, and content marketing for businesses looking to enhance their online presence.

10. Logistics and supply chain management

Dubai's strategic location and advanced infrastructure are ideal for logistics and supply chain management businesses. The sector is expected to grow at a CAGR of 6.84% by 2026 , making it an attractive market for businesses.

11. Financial services

The country’s financial sector expanded by 11.1% in 2023 , and forecasts point to continued growth and recovery in 2024. With multinational corporations across all industries based in the country, this gives you opportunities in banking, insurance, and investment services, making it an attractive destination for business ventures in the sector.

12. Information technology

You can also tap into the growing demand for IT services and IT solutions. By 2031, the country's digital economy is poised to expand by USD 140 billion . Offering digital tools such as artificial intelligence and software to streamline business operations, IT businesses can cater to various industries and contribute to the city's reputation as a technology hub in the Middle East.

13. Event management

With various events ranging from festivals to business conferences, there is a high demand for event management companies to start an event management business. The country's event management market is set to grow from USD 41.47 billion in 2024 to USD 108.02 billion by 2029, with a CAGR of over 10% during this period.

14. Environmental services

The UAE presents a fertile ground if you’re operating in the environmental services businesses, driven by the country's commitment to sustainability and reducing carbon emissions. With the country’s investment of USD 163 billion in this initiative, there is a growing demand for services focused on sustainable practices.

15. Human resources

Dubai's growing business environment offers various opportunities for human resources services, including recruitment, training, and development. The country's HR industry is valued at approximately AED 5.5 billion .

16. Legal services  

Legal services in the UAE encompass essential aspects like debt collection, company formation, and private notary services, which are crucial for businesses to operate smoothly and comply with regulations. The ongoing implementation of new laws and regulations is said to lead to a growing demand for high-quality legal services in the country.

17. Marketing and advertising

The expected expenditure in the UAE's Digital Advertising sector will reach USD1,134.0 million in 2024 . The country's growing business environment offers you opportunities for marketing and advertising services, including branding, advertising, and public relations.

18. Telecommunications

Dubai's growing digital economy offers various opportunities for telecommunications services, including mobile network operators, internet service providers, and value-added services. This is estimated to reach USD 9.37 billion in 2024 and is expected to grow to USD 10.93 billion by 2029, with a CAGR of 3.15% during the forecast period.

The thriving retail industry caters to diverse preferences, from affordable to luxury brands, across various categories like lifestyle, food, apparel, and electronics. The free zones support retail brand franchises, making it an attractive market for your business growth amidst tourism and a strong economy.

20. Construction and interior design

The UAE's construction and interior design market is expected to expand from USD86 billion in 2022 to USD133 billion by 2027 . If you’re in this industry, you can tap into the arrival of international businesses and an expatriate population of employees. From residential to commercial projects, abundant opportunities exist to cater to diverse styles.

21. Business consultancy service

In 2023, The UAE's consulting market grew  15.2% in 2023, reaching a revenue of $1.1 billion . Starting a consultancy business is wise because it helps businesses get strategic advice, legal help, and tailored solutions.

Can a foreigner start a business in the UAE?

• Departments such as the Department of Economic Development (DED) facilitate this process by providing a comprehensive guide for your business setup and business license in the UAE.

How to obtain a UAE-free zone visa?

To obtain this, follow these steps:

1.     Register on E-Channel for streamlined visa processing.

2.     Apply for an entry permit (employment visa) valid for 60 days.

3.     Activate the visa through in-country, out-of-country, or border-run processes.

4.     Undergo a medical test and apply for an Emirates ID .

5.     Submit documents for visa stamping, which typically takes five business days.

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HSBC Bank Canada to RBC Transition Guide (Updated)

Latest updates on this transition

Conversion ratio of hsbc points (hsbc world elite mastercard) to avion rewards points (rbc avion visa infinite card).

April 01, 2024 – RBC has indicated that the migration of HSBC Rewards points to Avion points is scheduled to be completed on April 5, 2024.

The conversion ratio between the HSBC World Elite ® Mastercard ® and the RBC Avion Visa Infinite Card is now known:

1 HSBC Rewards point = 0.36 RBC Avion Rewards point

As a reminder, 25,000 HSBC Rewards points had a value of $125 in the flexible travel redemption category, or 0.5 cents per HSBC Rewards point .

Those same 25,000 HSBC Rewards points are now converted into 9,000 RBC Avion Rewards points, which theoretically would have a value of $90 in the flexible travel redemption category, or 0.36 cents per HSBC Rewards point .

Theoretically ! Because there’s a nuance when it comes to point redemption since the value will not be 1% (100 points = $1 ) but 1.5% (100 points = $1.5 ).

As a result, you’ll come out ahead thanks to this improved points exchange rate: 0.36 x 1.5% = 0.54 cents per HSBC point (compared with 0.5 cents in the past).

RBC sent a personalized email to each customer migrated from HSBC to RBC:

Your HSBC Points have been converted into RBC Avion Points. Your points balance may be different, but rest assured that your Avion points are of equal or greater value, as shown below. Your card: RBC Avion Visa Infinite Card Final HSBC Points balance: $227,839 | $1,139 travel value Conversion rate used: 1 HSBC point = 0.36 Avion points New Avion points balance: 82,023 | at least $1,230 in travel value

Later in the e-mail, RBC explains that the Avion Rewards redemption rate will be higher than usual: 1.5% (100 points = $1.50 ) instead of 1.0% (100 points = $1 ).

Indeed, in this case, the value obtained is slightly higher than via HSBC Rewards: 0.54 cents instead of 0.50 cents per HSBC point.

The difference is that you absolutely have to use the Avion Rewards Travel website to book your flight, hotel, or car rental. In contrast, with HSBC Rewards, it was possible to book wherever you like, including for other types of travel such as Airbnb.

This 1.50% redemption rate is confirmed when you go to Avion Rewards to book a trip, as in the example below:

Further on, RBC reminds us of the alternative method of using Avion Rewards points via the Avion Fixed Points Pricing schedule for flights . Here, too, you’ll find a higher-than-usual maximum exchange rate.

Conversion ratio of HSBC points (HSBC Rewards Card) to Avion Rewards points (RBC Ion Card)

The conversion ratio between the HSBC +Rewards Mastercard and the RBC ION+ Visa Card , and of the HSBC Travel Rewards Mastercard ® and the RBC ION Visa Card is also known:

1 HSBC Rewards point = 0.88 RBC Avion Rewards point

So, before you say it’s a huge difference with the conversion seen above between the HSBC World Elite ® Mastercard ® and the RBC Avion Visa Infinite Card , we remind you that cardholders of the RBC ION+ Visa Card and the RBC ION Visa Card do not have access to the same points valuation at the exchange level !

Avion Select members can redeem their points for travel at a ratio of 172 points = $1 .

Let’s take the example above with the conversion rate of 0.88 and the exchange rate of 0.58% :

As you can see, the final value is almost the same as for Avion Elite members.

But here’s a tip you should know! You can transfer your Avion Select points to your Avion Elite account if you also have an RBC Avion Visa Infinite Card ! And then you can benefit from a better exchange rate.

Transfer to air partners

Previously, transfers of HSBC Rewards points to airline partners were made at the following rates:

With the migration, HSBC Rewards points were converted into RBC Avion points at a rate of 0.36, which is an average of what you would have received by transferring to these three partners. As a result, the value attributed by RBC to this level is indeed “comparable”.

Obviously, we lose out if our objective was to accumulate points at Krisflyer since RBC is not their partner, but this information was well known before the migration.

Also, transferring to an airline partner with RBC Avion is less restrictive than HSBC Rewards with its minimum 25,000-point increments; Avions require a minimum of :

• 10,000 points/slice of 1 point to Asia Miles and Avios
• 5,000 points/10-point increments to AAdvantage
• 1 000 points/tranches de 100 points vers WestJet Dollars

If you collect Asia Miles, you come out ahead.

On the other hand, those seeking Avios are losing out slightly.

But don’t forget about transfer bonus promotions! Asia Miles usually offers a 10-15% bonus transfer, and Avios up to 35%. These promotions are recurrent, occurring once or twice a year.

As a result, you’re already a winner with Asia Miles, as well as having the opportunity to double up, and with Avios, you could get:

Finally, with the migration, we may have lost Krisflyer, but we’ve gained two other airline partners: AAdvantage from American Airlines and WestJet Dollars from WestJet.

RBC has indeed offered “comparable or better value” for those who collect Asia Miles and Avios, as well as opening the door to Aadvantage and WestJet Dollars for former HSBC Rewards users.

March 30, 2024 – HSBC Canada no longer exists. RBC has definitely taken control of operations.

February 23, 2024 – RBC has provided Milesopedia with the following official comments:

All HSBC Bank Canada clients were provided with information about their migrated credit cards at least 60 days before the migration date. HSBC Bank Canada clients were informed about the terms and benefits of their migrated RBC credit card and that RBC will convert any HSBC Bank Canada clients’ unused points earned with their HSBC Bank Canada credit card into Avion points, maintaining comparative value. . We are aware that HSBC Bank Canada has communicated certain changes to redemption prior to the migration. This communication is separate from the 60 day communication provided to HSBC Canada clients back in January. Within one week of migration, HSBC Bank Canada points-based cardholders will have access to their individual Avion points balance and can start redemptions across all categories after migration via avionrewards.com or the Avion Rewards app. We can share that all HSBC Bank Canada clients migrated to RBC will receive an Avion points balance that will have equal or higher value in the flexible travel redemption category in the same way they book their travel today. In addition, they will have access to the Avion Air Travel Redemption Schedule, which provides access to higher travel value with Avion points than the HSBC travel redemption rate when booking flights . Clients will receive a communication with more information about the conversion of their points within one week of migration.

February 22, 2024 – Here are the deadlines for redeeming HSBC Rewards points:

• February 29, 2024: To airline partners (WestJet, AmericanAirlines, British Airways, Cathay Pacific);
• March 14, 2024: Mortgage payment, savings account deposit, products, physical gift cards, travel reservation or donation;
• March 25, 2024: Travel rewards credit , digital gift card, statement credit or $100 travel enhancement credit .

February 20, 2024 – According to an announcement made by RBC to Rewards Canada, the conversion ratio of HSBC Rewards points to RBC Avion Rewards points will only be known once the transfer is complete.

And this ratio will vary according to each customer . Indeed, HSBC World Elite ® Mastercard ® customers will be transferred to an RBC Avion Visa Infinite Card and will, therefore, have access to more rewards with RBC Avion Rewards (RBC Avion Rewards Elite Level).

While HSBC Travel Rewards Mastercard ® customers will be transferred to an RBC ION Visa Card (RBC Avion Rewards Premium Level).

Here are some quotes to remember:

Once HSBC clients are officially RBC clients and members of Avion Rewards, they will receive detailed information on the conversion value and unique redemption options. …we can share that all HSBC clients migrated to RBC will have equal or better value for their converted points in the flexible travel redemption category in the same way they book their travel today. In addition, clients who hold Avion credit cards will benefit from even greater value with access to the Avion Air Redemption Schedule, which can provide up to 50% more value.

We have come to the same conclusion as Rewards Canada (and it is the same as the prediction we made following the announcement of the acquisition of HSBC Canada by RBC): the conversion ratio of HSBC Rewards points to Avion Rewards points will be a minimum of 2 HSBC Rewards points to 1 Avion Rewards point. .

Thus, 20,000 HSBC Rewards points should be converted into 10,000 RBC Avion Rewards points.

What’s more, when you let convert your HSBC Rewards points into RBC Avion Rewards points, you’ll gain access to the Avion Rewards Air Redemption Schedule .

Depending on the destination, 15,000 to 100,000 Avion points are required per ticket.

RBC Avion Rewards points can be used to travel anywhere in the world with a round-trip ticket. A one-way trip requires half as many Avion points. Here is the airfare table for a round-trip flight:

On average this equals about 2 cents per Avion point .

February 18, 2024 – HSBC has indicated that the ability to transfer points into miles will end after February 29, 2024.

January 23, 2024 – New details on the new card that will replace the HSBC World Elite Mastercard.

We recommend that you wait to see what RBC has to offer as a new card, before making the decision to cancel your HSBC card. See alternative credit cards .

January 18, 2024 – Details of credit card transition added .

By December 2023, the purchase of HSBC Canada by Royal Bank of Canada (RBC) had been confirmed by financial and government authorities. All HSBC Canada customers will see their cards and services gradually shift to RBC over the coming weeks.

Acquisition of HSBC Canada by RBC

To ensure a smooth transition, we recommend you do the following right away:

• Update your information (e-mail, postal address, telephone number, etc.) in HSBC Online Banking
• Read emails or letters from HSBC Canada and RBC
• In February 2024, sign up for RBC Online Banking when you receive your access or a new RBC client card, sent around February 8, 2024.

Timeline for the transfer of HSBC Canada products and services to RBC

To ensure a smooth transition, RBC will be taking measures in the coming weeks. Here’s a summary and what it means for you:

There you go ! As a result, all former HSBC Bank Canada products and services will become RBC products and services by March 29, 2024. Enrolling in RBC Online Banking or the RBC Mobile App will give you access to your HSBC Bank Canada accounts and balances, shortly after you transfer your products and services to RBC.

New bills payable added after January 11, 2024 and Interac e-Transfer recipients added after February 29, 2024 will not be transferred to your RBC Online Banking or Mobile Banking. Make a note to add them after migration.

Full details can be found on this RBC web page .

The first new RBC cards to replace HSBC credit cards have been in circulation since the end of February.

Here’s some new information about the HSBC World Elite Mastercard and its switch to an RBC credit card. At least wait until you receive your new RBC card and the benefits customized to your situation, before cancelling your HSBC credit card. :

These RBC credit card benefits are not available to the general public. Only HSBC World Elite Mastercard holders will have these options.

If the new RBC credit card does not meet your needs, you may close the new RBC credit card without charge or penalty, no later than 3 months after the migration date. After 3 months, this means you have accepted the changes.

What’s more, if the HSBC credit card is not in good standing (non-payment, minimum payment not made, etc.), you will not receive a new RBC credit card! However, the unpaid balance will still be transferred and the cardholder will have to pay this balance. Be careful not to leave your account in arrears and damage your credit score .

Also, this means that if you have an HSBC Mastercard and you usually go to Costco stores in Canada (which only accept Mastercards), you will no longer be able to use it with your new RBC Visa card. However, there is a way around this problem .

The good news is that you can now use this new RBC Visa card without any conversion fees at Costco warehouses in the U.S., which only accept Visa! And also, it’ll be perfect to use if you’re going to the Paris Olympics in the summer of 2024, which only accepts Visa cards at its venues. Just like the Scotiabank Passport™ Visa Infinite* Card , which is the only Visa credit card available to everyone with no foreign currency conversion fees.

If you already have an account with RBC and have an RBC Client Card or an existing RBC Client Number, your HSBC Bank Canada account will be automatically added to your RBC Client Profile.

This means you can continue to use your RBC client card or client number. Plus, you’ll still be able to access Online Banking and the RBC Mobile App with your current RBC Client Card and password.

How to register for RBC Online Banking or the RBC Mobile App

There are 2 ways to sign up for RBC Online Banking or the RBC Mobile App:

• Using your HSBC Bank Canada login. This registration will allow you to sign up for RBC Online Banking.
• Use your new RBC Client Card or RBC Client Number received in the mail: If you were not previously registered for HSBC Bank Canada online banking, you can register when you receive your new RBC Client Card or RBC Client Number.

Banking Services

Advance and HSBC Canada banking customers will benefit from several advantages after switching to RBC:

• Largest network with 1,100 branches and 4,000 RBC ATMs in Canada ;
• Access to their accounts worldwide and access to several solutions for individuals and businesses through RBC Direct Investing ;
• Continuity of advice and services (mortgages, financial planners, etc.) as well as coverage of eligible deposits with the Canada Deposit Insurance Corporation (CDIC);
• Access to the Avion Rewards program and its many possibilities.

Premier customers will enjoy all of the above benefits, plus the following:

• Dedicated team with special attention;
• Personalized advice tailored to your personal situation.

After the transition to RBC, there will be no monthly fees on RBC chequing accounts from HSBC Bank Canada for a minimum of 12 months.

Please note that HSBC Bank Canada debit cards will no longer be accepted at the following ATM networks as of Monday, March 18, 2024 at 8:00 p.m. ET / 5:00 p.m. PT:

• In Canada: EXCHANGE ® network ATMs
• In the United States: Accel ATMs

After the time indicated above, transactions will be refused.

You can use your HSBC Bank Canada debit card at over 4,000 ATMs across Canada. You can do so from Sunday, March 17 at 00:01 ET, free of charge and without paying the $3 surcharge that would normally apply to each transaction.

You can also continue to make withdrawals with your HSBC Bank Canada debit card at :

• HSBC Bank Canada ATMs^ until Thursday, March 28 at noon local time;
• RBC and other Cirrus ATMs until the morning of Saturday, March 30;
• INTERAC ATMs and point-of-sale terminals in Canada (except those that are also part of THE EXCHANGE network).

You can also continue to make deposits:

• Via HSBC Banking until Thursday, March 28 at 4 a.m. ET / 1 a.m. PT ;
• In HSBC branches until Thursday March 28 at noon local time;
• At any HSBC Bank Canada ABM until Tuesday, March 26 at 6 p.m. local time.

HSBC Canada Private Banking and Wealth Management to RBC

HSBC Private Investment Counsel clients will be transferred to RBC Wealth Management.

There you go ! As a result, all former HSBC Bank Canada private banking and wealth management products will become RBC products and services by the end of March 2024. Full details can be found on this RBC web page .

Bottom Line

Wait until you hear what RBC will offer you for your new card by the end of January 2024.

This transition will give you time to use your HSBC Rewards points or let your points be converted into RBC Avion Rewards .

For the time being, we do not know what the conversion ratio of HSBC Rewards points to RBC Avion Rewards will be. In the meantime, explore the possibilities offered by your future Avion Rewards points .

This change for HSBC World Elite Mastercard holders raises concerns such as:

• The secret behind the HSBC points to RBC Avion Rewards points transfer ratio;
• A Mastercard credit card that will turn into a Visa credit card – which can be problematic for Costco warehouse customers (see alternative credit cards );
• Unclear whether the bonus HSBC Rewards points promised will continue to be paid out after the transition.
• Announcement of the end of the possibility of transferring HSBC points into Miles after February 29, 2024

We can’t wait to see what RBC has to offer its new customers!

All posts by Caroline Tremblay

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Best HSBC Credit Cards in Singapore 2024 Comparison

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HSBC Rewards

If you’re holding a HSBC Singapore credit card which offers you rewards points, such as the HSBC Revolution Card, HSBC Premier, HSBC Visa Platinum, or the HSBC Visa Infinite, there are numerous dining, shopping, home, travel, luxury vouchers, products, and charity donations that you can redeem your rewards points for.

HSBC Credit Card Rewards

No matter which HSBC credit card you hold, the basic earn rate is 1 rewards point per S$1 charged to your card in local or foreign currency. Some cards do offer you bonus rates such as the 10X Bonus Points program for HSBC Revolution cards. However, not every transaction qualifies for rewards points. Non-retail transactions such as forex, quasi-cash, payments to charitable, religious, financial, governmental, and insurance institutions do not qualify for rewards. Likewise, payments to professional services, payment transfer or service providers such as PayPal, Grab Pay, EZ-Link, utilities, tax, instalments, and bank charges do not qualify for rewards too. These are called general exclusions and you will find them common throughout all major banks in Singapore. All HSBC points expire in 37 months.

HSBC Singapore Rewards

Now that you have some HSBC points in your account, it’s time to browse the HSBC rewards points redemption catalogue online. Ongoing rewards include S$10 Starbucks voucher for 4,200 points, S$10 Grab Food voucher for 3,600 points, S$20 Pet Lovers Centre voucher for 6,000 points, S$20 Isetan voucher for 6,800 points, a Bodum coffee set for 25,000 points, 2 bottles of Suntory Roku Gin for 31,500 points, 10,000 miles with Singapore Airlines KrisFlyer or Cathay Pacific Asia Miles for 25,000 points, and more.

HSBC Rewards Redemption Online

To redeem your HSBC points, visit the HSBC Rewards Catalogue site, select your rewards of choice, and click “Redeem Now”. You will be prompted to login to your HSBC ibanking account and guided through the rewards redemption process. Alternatively, you can call HSBC’s phone banking hotline at 1800 4722 669, select “Card Services”, followed by “Card Fees, Rewards, and Benefits”. You will be prompted to key in the reward Gift Code and quantity over the call. The reward gift code is stated on the HSBC online Rewards Catalogue.

HSBC Cash Back

Hsbc credit card promotions, hsbc revolution card’s 10x points with $0 minimum spend—is there a catch.

Unlike cashback cards that force you to work your brain and micromanage your expenses, this HSBC credit card has no minimum spending requirement. Sounds like the HSBC Revolution Card may make a worthy companion? We take a closer look.

HSBC Credit Card Hotline

Frequently asked questions, how to apply for a hsbc supplementary credit card, how to check hsbc credit card balance, how to redeem hsbc credit card points in cash, how to activate hsbc credit card for overseas use, how to apply for a hsbc credit card, how do i track my hsbc credit card application status.

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TravelSafe Travel Insurance Review 2024

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• GolfSafe travel insurance plans provide coverage for you and your equipment
• Travel medical insurance through partner Trawick International

Among the companies included in our guide on the best CFAR travel insurance , TravelSafe Insurance offers thick insulation against the unpredictability of travel. The trips that TravelSafe Insurance can insure are on the higher end of the industry, covering trips lasting up to 150 days and costing up to $100,000. TravelSafe Insurance's Classic plan also offers coverage for people who are up to 100 years old. 

One standout feature of TravelSafe Insurance is that all of its plans offer primary coverage, so you can file immediately with TravelSafe Insurance instead of going through your health insurance provider first, even with TravelSafe Insurance's Basic plan. Many travel insurance companies only provide primary coverage with their higher-tiered plans. 

That said, TravelSafe Insurance's Basic plan costs more than many travel insurance companies' most expensive plans. This brings up the issue of cost. While its plans are technically within the bounds of the average cost of travel insurance, TravelSafe Insurance certainly stretches those limits, and it's certainly more expensive than many of the best travel insurance companies.

Ultimately, TravelSafe Insurance is best for travelers taking an expensive trip who can afford expensive insurance. 

Coverage Options from TravelSafe

TravelSafe Insurance has two main policies for those seeking travel insurance: travel insurance for stateside and international travelers and travel insurance for those who are planning golf trips. For each policy type, travelers can choose between classic and basic coverage. And golfers can choose between GolfSafe Secure and GolfSafe Secure Plus.

Here's how the three TravelSafe Insurance travel insurance plans stack up in terms of what's included and coverage limits:

TravelSafe Insurance also offers specific golf insurance plans, which is something incredibly unique among travel insurance companies. If you're an avid golfer, purchasing golfing insurance will cover things like lost holes, something regular travel insurance won't. TravelSafe Insurance's golf insurance plan benefits are as follows:

Additional coverage options from TravelSafe

TravelSafe Insurance offers several optional coverages for its travelers:

Rental car damage and theft coverage:  Available for both Basic and Classic plans, this add-on covers up to $35,000 per covered vehicle.

Business and sports equipment rental:  Also available for both TravelSafe Insurance plans, your rental equipment is covered for up to $1,000.

CFAR coverage: Only available for Classic+, you'll receive 75% of your nonrefundable trip costs. You must purchase your policy within 21 days of your initial trip deposit. 

TravelSafe Travel Insurance Cost

The premium you pay will depend on various factors, including the age of the travelers, destination, and total trip costs. The  average cost of travel insurance  is 4% to 8% of your travel costs.

After inputting some personal information, such as your age and state of residence, along with your trip details, like travel dates, destination, and trip costs, you'll get an instant quote for TravelSafe Insurance plans available for your trip. And from there, it's easy to compare each option based on your coverage needs and budget.

Now let's look at a few examples to estimate TravelSafe Insurance coverage costs.

As of 2024, a 23-year-old from Illinois taking a week-long, $3,000 budget trip to Italy would have the following travel insurance quotes:

• Basic: $112
• Classic: $147
• Classic (Plus): $274

Premiums for TravelSafe Insurance plans are between 3.7% and 9.1% of the trip's cost, within and above the average cost of travel insurance.

TravelSafe Insurance provides the following quotes for a 30-year-old traveler from California heading to Japan for two weeks on a $4,000 trip:

• Basic: $153
• Classic: $202
• Classic (Plus): $377

Once again, premiums for TravelSafe Insurance plans are between 3.8% and 6.3% of the trip's cost, within the expected range of travel insurance costs.

A Texas family consisting of two 40-year-old parents with a 10-year-old and 4-year-old on a two-week trip to Australia for $20,000:

• Basic: $512
• Classic: $676
• Classic (Plus): $1,616

TravelSafe Insurance plans cost between 2.6% and 8.1% of the trip's cost, below and within the average cost of travel insurance. 

A 65-year-old couple looking to escape New Jersey for Mexico for two weeks with a trip cost of $6,000 would have the following quotes:

• Basic: $472
• Classic: $582
• Classic (Plus): $952

Premiums for TravelSafe Insurance plans are between 7.8% and 15.9%, which is well the average cost for travel insurance. While older travelers should expect higher premiums, these prices are on the higher end of what you should be paying. 

Purchasing and Managing a TravelSafe Policy

Purchasing a TravelSafe Insurance policy is fairly simple. You'll first need to obtain a quote through TravelSafe Insurance's website. Be prepared to provide the following details:

• State of residence
• Destination(s)
• Departure/return dates
• Date of initial deposit
• Total trip cost
• Number of travelers
• Birthday of traveler(s)

Once you obtain a quote and pick your plan, you'll enter some additional information about yourself, such as your address and contact information. 

How to File a Claim with TravelSafe

If you experience a loss while insured by TravelSafe, you need to act quickly. You have 20 days after the loss to notify TravelSafe Insurance, at which point an agent will send you forms for filing proof of loss. If TravelSafe Insurance don't send a form withi 15 days, you can send your own written statement about what happened along with proof. This must be completed within 90 days of the loss. 

You have several options if you need to file a claim for TravelSafe Insurance.

If you need emergency help, you can call their toll-free numbers below.

• Toll-free (US-only): 1-877-539-6729
• Direct: 1-727-475-2808

If you're international, call the following toll-free number: 1-866-509-7713.

TravelSafe Customer Service and Support

Almost all reviews for TravelSafe Insurance are concentrated on its SquareMouth page, where it has an average rating of 4.3 stars out five across over 1,500 reviews. Though an overall positive score, it's worth mentioning that most of the positive reviews come from people who didn't have to file a claim. Some of these reviews mentioned having to alter their insurance plan, which was an overall positive experience. 

However, many of the reviews that mention the claims process are negative. Customers mentioned long wait times, uncommunicative claims representatives, and little guidance during the claims process. Additionally, while many travel insurance companies regularly engage with reviews, both positive and negative, TravelSafe Insurance rarely replies to customer reviews.

Learn more about how TravelSafe Insurance travel insurance compares against top insurers. 

TravelSafe Travel Insurance vs Faye Travel Insurance

Faye Travel Insurance is a completely digital travel insurance company. Unlike TravelSafe Insurance, Faye Travel Insurance completely covers all cruise travel. Faye doesn't cover golf trips as TravelSafe Insurance does. They have similar amounts of coverage, but Faye Travel Insurance is about $20 cheaper for its comparable international plans.

Faye Travel Insurance covers your trip, your health, and your belongings just like TravelSafe Insurance does. But with Faye Travel Insurance, you can add different things that meet your needs, like car rental, extreme sports, and pet care.

Read our Faye travel insurance review here.

TravelSafe Travel Insurance vs World Nomads Travel Insurance

TravelSafe Insurance is an excellent option if you're traveling and participating in regular activities, like trying different foods and basic activities, like taking a train to places. But if you want to do extreme sports, it might not be the right coverage for you. Instead, consider getting a travel insurance plan like World Nomads Travel Insurance . World Nomads covers over 100 different extreme sports, and you can specifically add on different sports that you want to try. It's a better coverage insurance plan for someone who's a little bit more adventurous.

That said, if you're only planning on doing a specific activity, like golfing, TravelSafe Insurance has a plan for you. They cover golfing trips specifically with more coverage than World Nomads.

Read our World Nomads travel insurance review here.

TravelSafe vs Credit Card Travel Insurance

Some credit cards, especially travel rewards cards, come with travel benefits such as primary rental car insurance for your vehicle if you decide to rent one. However, travel insurance is generally more comprehensive than credit card coverage. For example, TravelSafe Insurance offers benefits like death and dismemberment coverage; credit cards don't typically cover this benefit.

However, you can use both your credit card benefits and your travel insurance to get the fullest coverage possible.

Read our guide on the best credit cards with travel insurance here.

TravelSafe Travel Insurance FAQ

Yes, TravelSafe Insurance is known for providing reliable coverage for international travel, including medical emergencies and trip interruptions.

TravelSafe Insurance typically allows the purchase of travel insurance up until the day before departure, making it suitable for last-minute travel plans.

TravelSafe Insurance offers policies that include coverage for trip cancellations due to COVID-19, but it's important to review the specific terms and conditions of each plan.

Claims with TravelSafe Insurance are generally handled efficiently, with a straightforward process for filing and tracking claims, and timely reimbursements according to customer feedback.

Yes, TravelSafe Insurance offers the option to add adventure sports coverage to their policies, catering to travelers who engage in higher-risk activities.

Why You Should Trust Us: How We Reviewed TravelSafe

For this review, we made sure to include the most updated information and pulled real-time quotes from TravelSafe Insurance's website. We compared two different companies that had similar coverage to TravelSafe Insurance to ensure the best review possible. We only included reputable plans. And we looked at factors like what's covered, policy limits, and coverage options.

Read more about how Business Insider rates insurance products here.

Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards .

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

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DIGITAL SECURE KEY

Digital Secure Key, a function of HSBC Mobile Banking application, is an application of one time password generation, which you can use in your iOS and Android mobile devices. Following the activation of Digital Secure Key, you can access the HSBC Mobile Banking application just with a single password.

How to use Digital Secure Key?

Install the HSBC Mobile Banking application from App Store or Google Play in order to utilize Digital Secure Key.

If you do not use a Secure Key device, please follow the steps which will be displayed for you to activate your Digital Secure Key after installing the HSBC Mobile Banking application and entering your User Code and Parole. Following the completion of your activation process, you can access the HSBC Mobile Banking application just by entering your Digital Secure Key password.

If you use a Secure Key device, you can apply for a Digital Secure Key via Internet Banking/ Security Settings/Digital Secure Key menu. After accessing the HSBC Mobile Banking with your Secure Key, you can make your activation by following the instructions related to Digital Secure Key activation.

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Manage your transactions easily and securely from your mobile phone.

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If you have a Credit Card or HSBC Debit Card, you can obtain Internet Banking and Mobile Banking password right away by clicking on Instant Password.

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Digital Secure Key, a function of the HSBC Mobile Banking application, is a one-time password generation application which strengthens your security in accessing HSBC Bank Retail Internet Banking and Mobile Banking.

How can I apply for a Digital Secure Key?

Digital Secure Key is a function of the HSBC Mobile Banking application. You can download and install the HSBC Mobile Banking application from App Store for iOS devices and from Google Play for Android devices.

How can I activate my Digital Secure Key?

For the Mobile Secure Key activation process, after downloading the Mobile Banking application, you should press the “Login” button, follow the directions after logging in with your internet banking and mobile banking user code and password. If you are not using a Secure Key device, you will be sent an activation code for Mobile Secure Key activation. By entering this code in the mobile application and setting the Mobile Secure Key password, your activation process will be completed.

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Your Internet Banking login preferences are independent from your Mobile Banking login preferences. It is mandatory to use a Secure Key device or the Digital Secure Key when logging on to Mobile Banking. If you want to switch from Secure Key device to a Digital Secure Key, please follow the instructions included in the answer to the next question.

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Guidance on e-mandate rules

The Reserve Bank of India (RBI) has updated its guidelines for recurring online transactions. If you have an HSBC credit card, you now have even stronger security features when you set up online mandates for scheduled subscriptions or recurring payments. These changes are effective from 1 October 2021.

You can go to  the HSBC MandateHQ portal  to manage all your existing subscriptions and recurring mandates made with your HSBC credit card. Here's how:

• Sign up on  https://hsbc.mandatehq.com  using your mobile number & email
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