HSBC Plus
Great options for current accounts with worldwide travel insurance, including winter sports cover, fee free ATM withdrawals, preferential rates and discounts on other HSBC finance products and many more benefits
 |  Compare HSBC Plus details directly with other current accounts or compare current accounts using our current account comparison tables. | ||
| Company: | HSBC www.hsbc.co.uk | ||
| Product: | Plus | ||
| Apply via this site: |  | ||
| Application Criteria | |||
 Minimum Monthly Credit: | There is no minimum monthly credit required, but salary or regular income must be paid into the account. | ||
| Minimum Investment: | There is no minimum investment required to open this account, however credit interest will only be received from £1. | ||
| Maximum Investment: | Unlimited | ||
| Minimum Age: | Minimum age 16 years. Some benefits and features on this account, including overdraft facilities, are only open to those aged 18 years and over. | ||
| Maximum Age: | Unlimited | ||
| Existing Customer Only: | This account is not available to existing customers only. | ||
| Area Restrictions: | There are no area restrictions. | ||
| Transfer Assistance: | HSBC will transfer the customer's Direct Debits and standing orders from their current bank. The customer will receive their cheque book (if requested) and debit card within 5 working days and their PIN within 7 working days of account opening. They will credit £10 to the customer's account each time they fail to meet of any of their Account Opening standards. | ||
| Incentives | |||
| Account Promotions: | Roadside Assistance breakdown cover included. Worldwide family travel insurance including winter sports cover. £3,000 life cover/accidental death benefit. 25% off first year's LifeChoices premium - a menu-based protection product that can provide life cover, sickness cover, trauma and unemployment cover Mortgage - save on a standard priced mortgage product. Personal Loan - 10% Repayment Reward on Personal Loans Flexible Saver - preferential rates on an HSBC Flexible Saver Regular Saver - only available to HSBC current account customers Cash ISA - preferential rate Free identity theft assistance website and helpline offered. Discounts and offers at 100s of hotels and restaurants and on days out and other shopping and lifestyle benefits. Switching error - £10 payment if something goes wrong during the switching process Commission free foreign currency and travellers cheques on amounts between £100 and £2,000. | ||
| Incentive Cashback £: | There is no cashback incentive. | ||
| Incentive Moneyback: | There is no moneyback incentive. | ||
| Incentive Pref Rate/Deals: | Banking benefits: 25% off first year's LifeChoices premium - a menu-based protection product that can provide life cover, sickness cover, trauma and unemployment cover Mortgage - save on a standard priced mortgage product. Personal Loan - 10% Repayment Reward on Personal Loans Flexible Saver - preferential rates on an HSBC Flexible Saver Regular Saver - only available to HSBC current account customers Cash ISA - preferential rate | ||
| Incentive Disc/Vouchers: | Discounts and offers on hundreds of hotels, restaurants, days out and online shopping through a Plus members only website. | ||
| Incentive Breakdown: | Roadside Assistance breakdown cover included. Emergency roadside repairs are covered and local recovery to the nearest suitable garage. National recovery of the vehicle to any UK destination will be provided, if a prompt local repair cannot be arranged. Breakdowns occurring less than a quarter of a mile from the customer's home address address are NOT covered. | ||
| Incentive Protection: | This incentive is not offered with this account. | ||
| Incentive Other Insurance: | No other insurance offered. | ||
| Incentive Savings Sweep: | There is no savings sweep incentive. | ||
| Incentive Currency: | Commission free foreign currency and travellers cheques on amounts between £100 and £2,000. | ||
| Incentive Other: | If the customer switches their current account to HSBC and something goes wrong during the switching process HSBC will credit the customer's account with £10. 25% off first year's LifeChoices premium - a menu-based protection product that can provide life cover, sickness cover, trauma and unemployment cover | ||
| Facilities | |||
| Internet Banking: | Internet banking is available and the customer has the ability to: - check balances - view transactions - view, amend, create and cancel standing orders - pay bills - make payments to family and friends - transfer money between accounts - change address and personal details. | ||
| Branch Banking: | This account can be operated through a branch. | ||
| Telephone Banking: | Telephone banking is available 24 hours a day by the automated telephone banking service. Pressing a few buttons on the voice menu lets the customer: - check balances - transfer money between accounts - hear details of their latest transactions - speak to one of the Customer Service Representatives | ||
| Post Office Banking: | Transactions cannot be made at a Post Office. | ||
| Standing Orders: | Standing order facilities are available. | ||
| Direct Debits: | Direct Debit facilities are available. | ||
| BACS Transfers: | Electronic/Telegraphic transfer service is available. | ||
| CHAPS Transfers: | Electronic/Telegraphic transfer service is available. | ||
| Bill Payment Service: | Bill payment service is available. | ||
| Statement Frequency: | Statements are issued monthly. | ||
| Min Additional Deposit: | Unlimited | ||
| Minimum Withdrawal: | Unlimited | ||
| Withdrawal Restrictions: | Withdrawal Conditions - None. | ||
| ATM Card: | An ATM card is available. | ||
| ATM Mini Statements: | Mini statements are available through the ATM. | ||
| Max ATM Withdrawal: | The maximum ATM withdrawal is £300.00. | ||
| Cheque Book: | A cheque book is available, subject to status. | ||
| Cheque Guarantee Card: | A cheque guarantee card of up to £250 can be issued, subject to status. | ||
| Cheque Clearance Time: | A cheque can be drawn against 3 working days after the day it has been deposited. | ||
| Debit Card: | Maestro debit card is available. | ||
| Debit Card Type: | Maestro debit card is available. | ||
| Passbook: | A passbook is not provided with this account. | ||
| Text Messaging Events: | Text messaging events are not available. | ||
| Text Mini Statements: | Text mini statements are not available. | ||
| Travel Ins Winter Sport: | Worldwide family travel insurance including winter sports cover. Upper age limit of 70 years applies. | ||
| Overdraft | |||
| Overdraft Facility: | Overdraft facilities are available subject to status. | ||
| Interest Free O/D Limit: | An interest free overdraft facility is not available. | ||
| Automatic O/D Facility: | There is no approved overdraft facility automatically set up when this account is opened. | ||
| Overdraft Buffer Limit: | Any customer who goes overdrawn without an agreed overdraft limit will not pay an overdraft review fee provided they don't go more than £10 overdrawn. | ||
| Overdraft Arrangement Fee: | There is an overdraft arrangement fee of £25. This fee is payable each time a request for an overdraft or an overdraft extension is made. If this is the first overdraft request for 6 months no overdraft arrangement fee will be charged. | ||
| Auth O/D Rate-APR/EAR: | The rate for authorised overdrafts is 17.9% EAR. | ||
| Mthly Auth O/D Charge: | There is no monthly charge for an authorised overdraft. | ||
| Unauth O/D Rate-APR/EAR: | The annual rate for unauthorised overdrafts is 17.9% EAR. | ||
| Mthly Unauth O/D Charge: | No monthly unauthorised overdraft charge. | ||
| Overdraft Letter Charge: | There is no charge for an overdraft letter. | ||
| Rates | |||
| Headline Interest Rate: | The headline interest rate is 4.50% AER. | ||
| Rate Guarantee: | There are no interest rate guarantees. | ||
| Introductory Bonus: | No introductory bonus payable. | ||
| Amount of Bonus: | The bonus amount is - 0% | ||
| Open-ended Bonus: | No open-ended bonus payable. | ||
| Non Standard Tiers: | Gross Rate Gross Rate AER Excluding Bonus Including Bonus £1 5.84% 5.84% 6.00% £1,001 0.00% 0.00% 0.00% | ||
| Gross AER - £1/£50: | 4.50% | ||
| Gross AER - £500: | 4.50% | ||
| Gross AER - £1,000: | 4.50% | ||
| Gross AER - £2,500: | 0% | ||
| Gross AER - £5,000: | 0% | ||
| Gross AER - £10,000: | 0% | ||
| Gross AER - £25,000: | 0% | ||
| Gross AER - £50,000: | 0% | ||
| Gross AER - £100,000: | 0% | ||
| Interest Payment Freq: | Interest is paid monthly. | ||
| Interest on Withdrawal: | Interest on withdrawals will stop being paid on the same day of the withdrawal. | ||
| Int Added to Account: | Interest can be added to the account. | ||
| Interest Paid by Cheque: | Interest cannot be paid by cheque or warrant. | ||
| Int Paid to Bank A/c: | Interest cannot be paid to a bank account held with a bank other than HSBC. | ||
| Int Paid to Other A/c: | Interest can be paid to another HSBC account. | ||
| Int After Cash Deposit: | Interested is paid on cash deposits the day they are credited to the account. | ||
| Int After Cheq Deposit: | Interest starts getting paid on a cheque deposit two working days after the day it is paid into the account. | ||
| Int After BACS Deposit: | Interested is paid on BACS deposits the day they are credited to the account. | ||
| Interest Variant: | No | ||
| Max Balance High Interest: | The maximum balance to receive the highest interest rate on the account is £1000. | ||
| Fee & Charges | |||
| Free Banking: | Free banking is not available. There is a monthly maintenance charge. | ||
| Monthly Charge: | There is a monthly servicing charge of £12.95. Minimum term contract of 12 months mandatory. | ||
| Standing Order Charge: | There is no charge for payment of a standing order mandate. | ||
| S/O Setting Up Charge: | There is no charge for setting up a standing order mandate. | ||
| S/O Amendment Charge: | There is no charge for amending a standing order mandate. | ||
| S/O Cancellation Charge: | There is no charge for cancelling a standing order mandate. | ||
| Unpaid S/O Charge: | The charge made for an unpaid item is as follows: unpaid item of up to £10 no charge. up to £25 £10 per item Above £25 £25.00 per item. | ||
| Direct Debit Charge: | There is no charge for payment of a direct debit mandate. | ||
| Debit card charge Europe: | There is no charge for debit card transactions outside the UK apart from the exchange rate adjustment which is 2.75%. | ||
| D/D Setting Up Charge: | There is no charge for setting up a direct debit mandate. | ||
| D/D Amendment Charge: | There is no charge for amending a direct debit mandate. | ||
| D/D Cancellation Charge: | There is no charge for cancelling a direct debit mandate. | ||
| Unpaid D/D Charge: | The charge made for an unpaid item is as follows: unpaid item of up to £10 no charge. up to £25 £10 per item Above £25 £25.00 per item. | ||
| CHAPS Charge: | The charge for Electronic/Telegraphic transfers is as follows: To another HSBC account: £10,000 and under - free over £10,000 - £17.50 To a non-HSBC account - £25. | ||
| Stopped Cheque Charge: | The charge for a stopped cheque is £10. | ||
| Unpaid Cheque Charge: | The charge made for an unpaid item is as follows: unpaid item of up to £10 no charge. up to £25 £10 per item Above £25 £25.00 per item. | ||
| Transaction Charge: | No charge is made for standard banking transactions on this account. | ||
| Unauth Transaction Fee: | If the customer has not agreed an overdraft and the account goes overdrawn by more than £10 or they exceed an agreed overdraft limit by more than £10, this is classed as informal overdraft request. If HSBC decide to allow the informal overdraft request an overdraft Arrangement Fee of £25 will apply. It will also apply to subsequent increases of over £10. - The overdraft Arrangement Fee will not total more than the amount by which the customer goes overdrawn without prior agreement or exceeds their overdraft limit. - No more than one arrangement fee will be charged per day. - If debited Arrangement Fees or interest cause the account to overdrawn or further overdrawn a further Arrangement Fee will not be charged. - The customer will not have to pay for the first agreed overdraft request (formal or informal) in any 6 month period. Each further request in a 6 month period may incur an arrangement fee. | ||
| ATM Withdrawal Charge: | Withdrawals from HSBC and LINK cash machines are free of charge. Some cash machine owners may levy a charge. This will be shown on a screen with an option to cancel the withdrawal if required. | ||
| ATM charge Europe: | Card transactions abroad Cash withdrawals at machines displaying the Cirrus/Maestro logo - there is no cash advance fee (some Cirrus/Maestro members will may apply a direct charge and this will be advised on screen at the time of withdrawal.The opportunity will be given to cancel the transaction if required) Foreign currency exchange rate adjustment - 2.75% Foreign currency retail transactions - there is no fee from HSBC but the foreign currency exchange rate adjustment of 2.75% will apply. | ||
| A/c Transfers Int. Free: | An interest free overdraft may be offered on transferred accounts for up to 2 months. Each application is treated on its own merits and the customer will be advised accordingly when the account is opened. | ||
| Bankers Draft Charge: | The charge for a bankers draft is £15. | ||
| Bankers Reference Charge: | The charge for a bankers reference is £7.24 plus VAT = £8.50. | ||
| Copy Cheque Charge: | There is no charge for a copy cheque. | ||
| Duplicate Stat Charge: | There is a charge of £1 for duplicate statements. | ||
| Special Clearance Charge: | The charge for a special clearance cheque is £15. | ||
| Forex fee % Europe: | Card transactions abroad Cash withdrawals at machines displaying the Cirrus/Maestro logo - there is no cash advance fee (some Cirrus/Maestro members may apply a direct charge and this will be advised on screen at the time of withdrawal.The opportunity will be given to cancel the transaction if required) Foreign currency exchange rate adjustment - 2.75% Foreign currency retail transactions - there is no fee from HSBC but the foreign currency exchange rate adjustment of 2.75% will apply. | ||
| Other Charges: | There are no other charges. | ||
| Compare | |||
| Products: | www.hsbc.co.uk Current Accounts | ||
