Full product details for the HSBC Current Account, including application criteria, incentives, facilities, overdraft, rates and fee & charges. Apply online now.
 |  Compare HSBC current account details against other current accounts or use our current account comparison tables.Did you know HSBC also provide credit cards, mortgages, savings, home insurance, pet insurance, travel insurance and breakdown cover? |
| Company: | HSBC
www.hsbc.co.uk
| HSBC
www.hsbc.co.uk
| HSBC
www.hsbc.co.uk
|
| Product: | Plus | Current Account Advance | Premier |
| | details | details | details |
| Apply via this site: |  | | Not available |
| | | | |
| Application Criteria | |
 Minimum income: | £0 | £0 | £75,000 |
| Minimum Monthly Credit: | £0 | £500 | £0 |
| Minimum Investment: | £0 | £0 | £0 |
| Maximum Investment: | Unlimited | Unlimited | Unlimited |
| Minimum Age: | 16 | 16 | 18 |
| Maximum Age: | Unlimited | Unlimited | 70 |
| Existing Customer Only: |  | | |
| Area Restrictions: | none | none | none |
| Transfer Assistance: |  | | |
| Incentives | |
| Account Promotions: | | | |
| Incentive Cashback £: | £0 | £0 | £0 |
| Incentive Moneyback: | | | |
| Incentive Pref Rate/Deals: | | | |
| Incentive Disc/Vouchers: | | | |
| Incentive Breakdown: | | | |
| Incentive Protection: | | | |
| Incentive Other Insurance: | | | |
| Incentive Savings Sweep: | | | |
| Incentive Currency: | | | |
| Incentive Other: | | | |
| Facilities | |
| Internet Banking: | | | |
| Branch Banking: | | | |
| Telephone Banking: | | | |
| Post Office Banking: | | | |
| Standing Orders: | | | |
| Direct Debits: | | | |
| BACS Transfers: | | | |
| CHAPS Transfers: | | | |
| Bill Payment Service: | | | |
| Statement Frequency: | monthly | monthly | monthly |
| Min Additional Deposit: | Unlimited | Unlimited | Unlimited |
| Minimum Withdrawal: | Unlimited | Unlimited | Unlimited |
| Withdrawal Restrictions: | none | none | none |
| ATM Card: | | | |
| ATM Mini Statements: | | | |
| Max ATM Withdrawal: | £300 | £300 | £1,000 |
| Cheque Book: | | | |
| Cheque Guarantee Card: | £250 | £100 | £250 |
| Cheque Clearance Time: | 3 | 3 | 0 |
| Debit Card: | | | |
| Debit Card Type: | Maestro | Maestro | Maestro |
| Passbook: | | | |
| Text Messaging Events: | | | |
| Text Mini Statements: | | | |
| Travel Ins Winter Sport: | | | |
| Overdraft | |
| Overdraft Facility: | | | |
| Interest Free O/D Limit: | £0 | £0 | £500 |
| Automatic O/D Facility: | £0 | £0 | £5,000 |
| Overdraft Buffer Limit: | £10 | £10 | £0 |
| Overdraft Arrangement Fee: | | | |
| Auth O/D Rate-APR/EAR: | 17.9% | 19.9% | 11.9% |
| Mthly Auth O/D Charge: | £0 | £0 | £0 |
| Unauth O/D Rate-APR/EAR: | 17.9% | 19.9% | 11.9% |
| Mthly Unauth O/D Charge: | £0 | £0 | £0 |
| Overdraft Letter Charge: | £0 | £0 | £0 |
| Rates | |
| Headline Interest Rate: | 4.5% | 0% | 1.7% |
| Rate Guarantee: | | | |
| Introductory Bonus: | 0% | 0% | 0% |
| Amount of Bonus: | 0% | 0% | 0% |
| Open-ended Bonus: | 0% | 0% | 0% |
| Non Standard Tiers: | | | |
| Gross AER - £1/£50: | 4.50% | 0% | 0% |
| Gross AER - £500: | 4.50% | 0% | 0% |
| Gross AER - £1,000: | 4.50% | 0% | 0% |
| Gross AER - £2,500: | 0% | 0% | 0% |
| Gross AER - £5,000: | 0% | 0% | 0% |
| Gross AER - £10,000: | 0% | 0% | 0.90% |
| Gross AER - £25,000: | 0% | 0% | 0.90% |
| Gross AER - £50,000: | 0% | 0% | 1.40% |
| Gross AER - £100,000: | 0% | 0% | 1.70% |
| Interest Payment Freq: | monthly | monthly | monthly |
| Interest on Withdrawal: | same day | same day | same day |
| Int Added to Account: | | | |
| Interest Paid by Cheque: | | | |
| Int Paid to Bank A/c: | | | |
| Int Paid to Other A/c: | | | |
| Int After Cash Deposit: | same day | same day | same day |
| Int After Cheq Deposit: | 2 working days | 2 working days | 2 working days |
| Int After BACS Deposit: | same day | same day | same day |
| Interest Variant: | | | |
| Max Balance High Interest: | £1,000 | Unlimited | Unlimited |
| Fee & Charges | |
| Free Banking: | | | |
| Monthly Charge: | £12.95 | £0 | £25 |
| Standing Order Charge: | £0 | £0 | £0 |
| S/O Setting Up Charge: | £0 | £0 | £0 |
| S/O Amendment Charge: | £0 | £0 | £0 |
| S/O Cancellation Charge: | £0 | £0 | £0 |
| Unpaid S/O Charge: | £25 | £25 | £0 |
| Direct Debit Charge: | £0 | £0 | £0 |
| Debit card charge Europe: | 0% | 0% | 0% |
| D/D Setting Up Charge: | £0 | £0 | £0 |
| D/D Amendment Charge: | £0 | £0 | £0 |
| D/D Cancellation Charge: | £0 | £0 | £0 |
| Unpaid D/D Charge: | £25 | £25 | £0 |
| CHAPS Charge: | £25 | £25 | £25 |
| Stopped Cheque Charge: | £10 | £10 | £0 |
| Unpaid Cheque Charge: | £25 | £25 | £0 |
| Transaction Charge: | 0 | 0 | 0 |
| Unauth Transaction Fee: | £25 per excess (max 1 per day) | £25 per excess (max 1 per day) | £0 |
| ATM Withdrawal Charge: | £0 | £0 | £0 |
| ATM charge Europe: | 0% | 2% | 0% |
| A/c Transfers Int. Free: | | | |
| Bankers Draft Charge: | £15 | £15 | £15 |
| Bankers Reference Charge: | £8.5 | £8.5 | £8.5 |
| Copy Cheque Charge: | £0 | £0 | £0 |
| Duplicate Stat Charge: | £1 | £1 | £0 |
| Special Clearance Charge: | £15 | £15 | £0 |
| Forex fee % Europe: | 2.75% | 2.75% | 2.75% |
| Other Charges: | | | |
Products listed under 'Most Popular' are the most popular products that can be applied for via money.co.uk.
Bad debts hit HSBC again in the three months to the end of September.
HSBC has confirmed that it has been forced to write down $4.3 billion (£2.7 billion) worth of assets as a result of its exposure to the US sub prime loans. The bank said its losses increased by $700 million during the third quarter of this year.
It also wrote down $600 million (£384 million) on the global credit market positions of its investment banking business and insisted continued turmoil in the financial markets is presenting "enormous challenges" for the banking sector.
Chief executive Michael Geogheagan said: "Recovery depends on the success of further economic stimulation, which is likely to take some time to take effect."
Despite the writedowns, HSBC announced that third quarter profits were higher than those recorded during the same period last year. This was due to strong growth in Asia, which helped to offset a weaker performance in the US. However, it did not give any precise figures.
In September, the bank announced that it would be looking to cut 1,100 jobs worldwide as a result of the ongoing financial market turbulence.
According to the Guardian, Michael Geogheagan has warned that government bailouts of financial institutions could encourage the return of risk taking in the banking industry.
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