HSBC Premier World Elite Mastercard Is Gone: What Happened and 3 Travel Card Alternatives
The HSBC Premier World Elite Mastercard is no longer available in Canada. RBC (Royal Bank of Canada) acquired HSBC Bank Canada, and ownership of HSBC’s Canadian banking business transferred to RBC effective March 28, 2024. Former HSBC branches opened as RBC locations on April 1, 2024, and HSBC Canada credit cards were converted to RBC cards. As of October 2026, no HSBC credit card is offered to Canadian residents.
The card had a loyal following among frequent travellers, mainly because it did not charge the usual foreign transaction fee. That is the gap most former cardholders want to fill. This guide explains what the card offered, what happened to existing cardholders, and which Canadian travel cards come closest today.
You may still find “HSBC Premier World Elite” pages on HSBC’s international or expat websites. Those cards are issued outside Canada and are not an option for a Canadian resident.
What the HSBC Premier World Elite Mastercard offered
This was HSBC Canada’s premium travel card for its Premier banking clients. The details below describe the card as it was before the RBC transition:
- Annual fee: $149. Under HSBC’s 2023 fee schedule, HSBC Premier clients received a $50 annual rebate, HSBC Advance clients $25, and HSBC Private clients a full $149 rebate.
- No foreign transaction fees: the card’s best-known feature, which made it popular with travellers and people who shop in other currencies.
- HSBC Rewards points on purchases, plus travel insurance and other World Elite Mastercard benefits.
- Premier relationship: HSBC Premier required a Premier chequing account plus, for example, $100,000 or more in deposits and investments with HSBC Canada.
None of these terms apply any more. If you want the same benefits today, the key features to look for are no foreign transaction fees, solid travel insurance, airport lounge access and a strong earn rate on travel-friendly points.
What happened to existing cardholders
Cardholders did not have to apply for a new card. Their accounts were moved to RBC, and each client received a letter from RBC naming the new card and explaining how their HSBC Rewards points would be treated. Reports from the transition indicate that HSBC World Elite cardholders, a group that included the Premier World Elite card, were moved to the RBC Avion Visa Infinite, and that RBC kept a no-foreign-transaction-fee feature for those migrated accounts. Some reports name the RBC Avion Visa Infinite Privilege for certain HSBC premium cards, so check your own RBC letter or statement for the exact product.
- Your HSBC history is still available. RBC says former HSBC clients can see past statements in RBC Online Banking under Documents/Statements, by choosing “HSBC Bank Canada Documents & Transactions”.
- Dedicated help line. RBC’s line for former HSBC Canada personal banking clients is 1-833-669-2908.
- Before you switch cards, ask RBC whether any special terms on your migrated card (such as a waived foreign transaction fee) would be lost if you change products. Those terms are tied to the migrated account, not to new RBC applications.
3 Canadian travel cards for former HSBC World Elite clients
Every figure below was checked on the issuer’s website in October 2026.
1. Scotiabank Passport Visa Infinite+ Card: the closest match for no foreign transaction fees
Best for: travellers and cross-border shoppers who want to keep paying no foreign transaction fee, plus lounge access.
- Annual fee: $150; the first additional card is $0 and each one after that is $50. The fee is rebated if you hold Scotiabank’s Ultimate Package chequing account.
- Interest rates: 20.99% on purchases, 22.99% on cash advances
- No foreign transaction fees: Scotiabank charges only the exchange rate on foreign currency purchases.
- Airport lounges: Visa Airport Companion membership (powered by DragonPass) with 6 complimentary lounge visits a year, usable by the primary cardholder and travel companions.
- Scene+ points: 3 per $1 at Sobeys-family grocers; 2 per $1 on other groceries, dining, entertainment and daily transit; 1 per $1 on everything else. The accelerated rates apply on up to $50,000 of spending a year, and spending $40,000 a year earns a 10,000-point annual bonus.
- Income requirement: Scotiabank lists minimums starting at $60,000 personal or $100,000 household income, or $250,000 in assets under management.
Drawback: the base earn rate on travel and general purchases is 1 point per $1, so it is not the fastest way to build up points if most of your spending is outside the bonus categories. Read our full guide to the Scotiabank Passport Visa Infinite Card.
2. TD Aeroplan Visa Infinite Card: for Air Canada flyers
Best for: travellers who fly Air Canada and want airline perks such as free checked bags.
- Annual fee: $139 ($75 for each additional cardholder); rebated every year with a TD All-Inclusive Banking Plan.
- Interest rates: 21.99% on purchases, 22.99% on cash advances
- Aeroplan points: 1.5 points per $1 on gas, electric vehicle charging, groceries and purchases made directly with Air Canada (including Air Canada Vacations); 1 point per $1 on everything else.
- Travel perks: first checked bag free for the cardholder and up to 8 companions on the same reservation, when travel starts on an Air Canada flight.
- Income requirement: $60,000 personal or $100,000 household.
- Welcome offer: TD often runs a welcome offer on this card; check TD’s site for the current terms.
Drawback: TD does not advertise a foreign transaction fee waiver on this card, so purchases in other currencies are likely to cost more than with the Scotiabank Passport. Confirm the conversion fee in TD’s disclosure before using it abroad. Read our full guide to the TD Aeroplan Visa Infinite Card.
3. RBC Cash Back Preferred World Elite Mastercard: a simple option at RBC
Best for: former HSBC clients who now bank at RBC and prefer cash back to points.
- Annual fee: $99 ($0 for additional cards)
- Interest rates: 20.99% on purchases, 22.99% on cash advances
- Cash back: 1.5% on the first $25,000 of purchases each year, then 1%.
- Extras: Mastercard Travel Pass membership (provided by DragonPass) and car rental collision/loss damage coverage.
- Income requirement: $80,000 personal or $150,000 household.
Drawback: it is not a travel card. RBC does not advertise a foreign transaction fee waiver on it, and travel insurance is an optional paid add-on. Read our full guide to the RBC Cash Back Preferred World Elite Mastercard.
SEE THE SCOTIABANK PASSPORT GUIDE
Comparison: HSBC Premier World Elite vs today’s travel cards
| Card | Annual fee | Purchase interest rate | Main benefit | Best for |
|---|---|---|---|---|
| HSBC Premier World Elite Mastercard | $149 (before the 2024 transition) | No longer offered | No foreign transaction fees, HSBC Rewards points | Retired in 2024 |
| Scotiabank Passport Visa Infinite+ | $150 | 20.99% | No foreign transaction fees, 6 lounge visits a year, Scene+ points | International travel and spending |
| TD Aeroplan Visa Infinite | $139 | 21.99% | Aeroplan points, free first checked bag on Air Canada | Air Canada flyers |
| RBC Cash Back Preferred World Elite | $99 | 20.99% | 1.5% cash back on first $25,000, then 1% | Cash back at RBC |
How to choose a replacement travel card
- Foreign transaction fees first. If most of your reason for holding the HSBC card was the missing foreign transaction fee, the Scotiabank Passport is the only card in this list that advertises no foreign transaction fees.
- Know how you redeem. Aeroplan points suit Air Canada travel; Scene+ points work for travel booked through Scene+ and other redemptions; cash back is the simplest of all.
- Income thresholds. TD and Scotiabank start at $60,000 personal or $100,000 household income; the RBC World Elite card requires $80,000 or $150,000.
- Annual fee rebates. Scotiabank and TD both rebate the fee with their top chequing packages. If you plan to move your banking, factor that in.
- Insurance. Read the certificate of insurance for trip cancellation, medical and rental car coverage. Coverage varies by card and is not identical to what HSBC offered.
- Quebec residents. Insurance documents and some terms differ in Quebec; check the provincial version on the issuer’s site.
- Existing RBC cardholders. If your migrated RBC card kept a no-foreign-transaction-fee feature, compare carefully before cancelling it.
Frequently asked questions
Can I still get an HSBC Premier World Elite Mastercard in Canada?
No. HSBC Bank Canada became part of RBC in March 2024, and HSBC credit cards are no longer issued in Canada. HSBC World Elite cards offered on HSBC’s international websites are issued outside Canada.
Which RBC card did HSBC World Elite cardholders receive?
Reports from the transition indicate most HSBC World Elite cardholders were moved to the RBC Avion Visa Infinite, with a no-foreign-transaction-fee feature kept for migrated accounts. Your RBC letter and statements show the exact card on your account.
Is there a Canadian card with no foreign transaction fees?
Yes. The Scotiabank Passport Visa Infinite+ Card advertises no foreign transaction fees; only the exchange rate applies to foreign currency purchases.
Where can I find my old HSBC statements?
Sign in to RBC Online Banking, open Documents/Statements and choose “HSBC Bank Canada Documents & Transactions”. For help, call RBC’s line for former HSBC clients at 1-833-669-2908.
About the author
I’m a journalist and advertising professional with a degree in both fields, and a deep passion for music, TV shows, books, and all things pop culture. I love learning new languages and exploring the customs and cultures of different countries. What I enjoy most about working in communication is writing and creating SEO-driven content that makes information practical, accessible, and genuinely helpful for people who want to learn or stay informed.
