FINANCIAL SECURITY A MUST, BUT NOT AT THE EXPENSE OF A BALANCED LIFE

HSBC Bank Canada's 'Tomorrow, Today' survey reveals home ownership, travel and possibility of early retirement rank highest on Canadians' list of priorities

VANCOUVER, Sept. 15 /CNW/ - According to a new, national survey released today, HSBC Bank Canada found that four out of five respondents agree that being financially secure is important to their tomorrow, but not to the detriment of leading a balanced life and pursuing personal passions. HSBC Bank Canada commissioned the national survey, titled "Tomorrow, Today", to better understand what Canadians aspire to when they think about their short- and long-term goals and what they're doing now to reach them.

"The 'Tomorrow, Today' survey clearly indicates that Canadians are prioritizing social relationships, experiences such as travel and their desire to contribute to society - the very factors that are often associated with increased happiness," said Dr. Elizabeth Dunn, an associate professor of psychology at the University of British Columbia who has extensively studied happiness and its relationship to financial well-being. "This is notable because people often misunderstand what will make them happy."

Practically all Canadians (97 per cent) want to lead a balanced life and particular priorities include: ensuring that their family is well cared for (91 per cent); wishing to travel (89 per cent); contributing something meaningful to society (87 per cent); and living a greener lifestyle (84 per cent).

"In the survey, Canadians overwhelmingly indicated a desire to spend more time with their families (87 per cent); having high quality social relationships with friends and family is a significant predictor of happiness," Dunn continued, "Interestingly when asked to rank aspects of their tomorrow in order of importance, Canadians ranked travel nearly as high as owning a home, a more traditional aspiration."

While Canadians have a clear, insightful view of their aspirations for tomorrow, the data reveals a contrasting uncertainty with how and when they will achieve those goals. Survey results show that only one in four Canadians express much confidence in achieving their ideal tomorrow in five years; confidence levels grow as the target date eases. However, it also found that four-in-five Canadians are taking steps now to prepare for their tomorrow and more than half (55 per cent) feel that their primary bank is helping them achieve those goals.

"My research suggests that even if people recognize what's important for their tomorrow, it is often difficult for them to take the concrete, day-to-day steps to make this vision a reality," offered Dunn. "This survey shows that Canadians have good insight into what will bring them happiness tomorrow, but also reveals that some people would benefit from helpful suggestions on what steps to take in order to get there."

New financial package, HSBC Advance, in line with Canadians' aspirations

Aligned with the findings of the "Tomorrow, Today" survey, a newly-introduced personal banking package, HSBC Advance, simplifies everyday banking to help Canadians achieve their financial goals faster, and focuses on four key areas - day-to-day banking products, global services and reach for those who travel or work overseas, investment tools to help clients grow their money, and protection for individuals and their finances as they plan for their tomorrow.

"HSBC Advance helps Canadians manage their money more efficiently in order to achieve their goals," said Margaret Willis, Executive Vice President and Head of Personal Financial Services and Wealth Management, HSBC Bank Canada. "By combining quality products and services with global reach and local presence, HSBC Advance provides individuals with a unique first step to building and managing their financial well-being that they can customize to suit their own personal financial needs."

HSBC Advance provides Canadians with day-to-day banking products - an unlimited chequing account, a high interest savings account, an HSBC Advance MasterCard(R), and a personal line of credit - all with no monthly fees(1), preferential rates, and global reach. It also offers international services for those clients who work or travel overseas, providing clients with emergency cash anywhere around the world as needed, and a service called Global View(2), which will enable access to view and make real-time fund transfers online among each of their HSBC global accounts, at a preferred rate.

On the planning side, clients may access tools and advice to help invest their money through HSBC InvestDirect(3), which allows them to make and manage their own investments online. Clients may also take advantage of expert advice and straightforward products designed to provide unparalleled access to global markets.

HSBC Advance is now available in over 20 countries, with more to come by the end of 2010. As the international bank with the widest footprint in Canada, HSBC Bank Canada also offers specialized solutions for immigrants. Specifically, HSBC Advance for Newcomers enables new Canadians to settle in faster and build up their banking and local credit history sooner.

A credit history with HSBC in another country is also automatically transferable here to Canada, and an account can be opened in their home country at any time before they arrive. That transition is smoother still, through our global network, as individuals may use the me2me feature to transfer between their accounts held in the different HSBC entities that they have linked through Global View.

To be eligible for, and to continue to benefit from HSBC Advance, individuals and/or families must maintain $25,000 or more in an individual or joint chequing, savings, and/or investment account(s) with HSBC Bank Canada and its subsidiaries.

More information about HSBC Advance is available at www.hsbc.ca/advance.

About "Tomorrow, Today" Survey Methodology

From 12-16 August, 2010, Angus Reid Public Opinion conducted an online survey among 1,020 randomly selected Canadian adults among current Angus Reid Forum panelists. The margin of error - which measures sampling variability is +/- 3.1 per cent. The survey includes a sample of 127 Chinese Canadians and 113 South Asian Canadians. The results have been statistically weighted according to the most current education, age, gender and region Census data to ensure samples representative of the entire adult population of Canada. Discrepancies in or between totals are due to rounding.

About HSBC Bank Canada

HSBC Bank Canada, a subsidiary of HSBC Holdings plc, has more than 260 offices, including over 140 bank branches, and is the leading international bank in Canada. With around 8,000 offices in 87 countries and territories and assets of US$2,418 billion at 30 June 2010, the HSBC Group is one of the world's largest banking and financial services organizations.

Note to editors:

    
    (R) MasterCard is a registered trademark of MasterCard International
        Incorporated.
    (1) If you do not maintain a minimum of $25,000 in personal assets, an
        account package fee may apply. Please refer to the Advance
        MasterCard(R) Rates & Fees, as well as the Personal Service Charges
        brochure at hsbc.ca/advance for full details. The chequing account,
        MasterCard and line of credit products are subject to credit
        adjudication and approval.
    (2) Available Fall 2010. Fees apply. Not available in all countries and
        territories where HSBC Advance is offered.
    (3) HSBC InvestDirect is a division of HSBC Securities (Canada) Inc., a
        wholly owned subsidiary of, but separate entity from, HSBC Bank
        Canada. Member - Canadian Investor Protection Fund.
    

For further information: Media enquiries: Ernest Yee, Vice President, Corporate Affairs, HSBC Bank Canada, [phone]; Fabrice de Dongo, Senior Manager, Public Affairs, HSBC Bank Canada, [phone]