HSBC

HSBC is one of the largest banks in both the UK and the world. It’s listed on both the Hong Kong Stock Exchange and the London Stock Exchange. It’s also a member of the FTSE 100.

HSBC stands for The Hongkong and Shanghai Banking Corporation. It was founded in 1865 in Hong Kong, which was then a British colony. HSBC is now the main subsidiary of HSBC Holdings, which was formed in 1991.

HSBC offers a full range of banking products, including current accounts, savings accounts, personal loans, mortgages and credit cards. It also offers home and travel insurance, which are underwritten by Aviva, and its own life insurance product.

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Bank accounts

Ranked 26^th of 30 providers reviewed.

Customer happiness score	55.45%
Customer trust score	51.61%
Complaints performance	59.29%
Transparency rating	77.58%
Fairer Finance score Reviewed Autumn 2023	61%

Credit cards

Ranked 24^th of 34 providers reviewed.

Customer happiness score	58.26%
Customer trust score	54.97%
Complaints performance	59.52%
Transparency rating	53.6%
Fairer Finance score Reviewed Autumn 2023	57%

Home emergency cover

Ranked 3^rd of 35 providers reviewed.

Customer happiness score	65.57%
Customer trust score	70.49%
Complaints performance	68.13%
Transparency rating	68.17%
Fairer Finance score Reviewed Autumn 2023	68%

Home insurance (building and contents)

Ranked 19^th of 46 providers reviewed.

Customer happiness score	64.06%
Customer trust score	61.04%
Complaints performance	72.7%
Transparency rating	65.41%
Fairer Finance score Reviewed Autumn 2023	67%

Investing and pensions

Ranked 15^th of 27 providers reviewed.

Customer happiness score	64.41%
Customer trust score	64.57%
Complaints performance	74.13%
Transparency rating	51.58%
Fairer Finance score Reviewed Autumn 2023	64%

Life insurance

Ranked 18^th of 24 providers reviewed.

Claims score	89.35%
Complaints performance	85.72%
Transparency rating	46.8%
Fairer Finance score Reviewed Autumn 2023	74%

Mortgages

Ranked 16^th of 23 providers reviewed.

Customer happiness score	56.22%
Customer trust score	51.52%
Complaints performance	77.7%
Transparency rating	54.24%
Fairer Finance score Reviewed Autumn 2023	60%

Personal loans

Ranked 12^th of 27 providers reviewed.

Customer happiness score	60.84%
Customer trust score	59.6%
Complaints performance	59.25%
Transparency rating	72.96%
Fairer Finance score Reviewed Autumn 2023	63%

Savings Accounts

Ranked 39^th of 53 providers reviewed.

Customer happiness score	50.73%
Customer trust score	56.62%
Complaints performance	59.25%
Transparency rating	78.44%
Fairer Finance score Reviewed Autumn 2023	61%

Cash withdrawal fee in UK (own bank) i	£0.00
Annual fee i	£0.00
Part of FSCS i
Unpaid transaction fee i	£0.00
Bankers draft/cheque fee i	Not available
Faster Payment limit i	£25,000.00
Maximum cash machine withdrawal per day i	£300.00
Can you use your card to pay for items overseas? i

Risk based overdraft? i
Arranged overdraft interest free amount i	£500.00
Arranged overdraft interest rate (representative EAR) i	39.9%

Arranged overdraft limit i	Subject to status
Tiered repayment of overdraft i
Switching / sign up incentive i

Arranged overdraft limit i	£3,000.00
Tiered repayment of overdraft i
Switching / sign up incentive i

Duration of 0% balance transfer offer period i	26 months
Balance transfer fee during promotional period i	3.49%
Representative APR i	24.9%
Balance transfer rate during promotional period i	0%
Highest balance transfer fee during promotional period (%) i	3.49%
Representative balance transfer rate i	1.873%
Risk based? i

Duration of 0% balance transfer offer period i	16 months
Balance transfer fee during promotional period i	3.49%
Representative APR i	24.9%
Balance transfer rate during promotional period i	0%
Highest balance transfer fee during promotional period (%) i	3.49%
Representative balance transfer rate i	1.873%
Risk based? i

Duration of purchases offer period i	18 months
Representative APR i	24.9%
Highest APR i	26.9%
Purchase rate during promotional period i	0%
Representative purchase rate i	1.873%
Number of days before interest is charged on purchases i	56 days
Risk based? i

Duration of purchases offer period i	9 months
Representative APR i	23.9%
Highest APR i	23.9%
Purchase rate during promotional period i	0%
Representative purchase rate i	1.805%
Number of days before interest is charged on purchases i	56 days
Risk based? i

Duration of purchases offer period i	6 months
Representative APR i	23.9%
Highest APR i	26.9%
Purchase rate during promotional period i	0%
Representative purchase rate i	1.805%
Number of days before interest is charged on purchases i	56 days
Risk based? i

Duration of purchases offer period i	3 months
Representative APR i	24.9%
Highest APR i	26.9%
Purchase rate during promotional period i	0%
Representative purchase rate i	1.873%
Number of days before interest is charged on purchases i	56 days
Risk based? i

Reward extras i	Airport lounge access (LoungeKey programme), Free Wi-Fi (with iPass), 24/7 worldwide assistance, HSBC Premier Privileges (discounts and experiences)
Representative APR i	59.3%
Risk based? i
Annual fee in first year i	£195.00
Annual fee after first year i	£195.00
Foreign purchase fee i	2.99%

Accidental loss cover i
Mechanical breakdown cover i
Maximum single-item cover limit i	£1,500.00
Type of product i	Multi-Insurance Policy
How is the excess charged? i	Standard excess applied to all gadgets and claim types
Accidental damage cover i
Lowest excess i	£75.00
Liquid damage excess i	£75.00
Theft & loss claims excess i	£75.00
Mechanical breakdown cover replacement limit i	£1,500.00
Theft Cover i
Accidental damage and breakdown claims excess i	£75.00
Theft replacement limit i	£1,500.00
Cancellation fee i	£0.00
Malicious damage cover i
Arrangement fee i	£0.00
Additional early claims excess i	£0.00
Unauthorised usage cover i	£2,500.00
Immediate cover with no additional excess in the first 30 days of the policy i
Unauthorised usage cover (E-wallet) i	£0.00
Accessories cover limit i	£0.00
High end smartphones (>£1,000) minimum excess i	£75.00
High end tablets (>£1,200) minimum excess i	£75.00
High end laptops (>=£1,500) minimum excess i	£75.00
High end MacBooks (>=£1,500) minimum excess i	£75.00
Universal gadget policy? i
Family cover i
Multi cover discounts i
Underwriter i	Aviva Insurance Limited
Age of customer requirement i	18.00 years
No claims period i	Immediate Cover
Refurbished device cover i
Second hand device cover i
Territorial limits restriction i	Worldwide
Maximum age of phones i	60 months
Maximum age of gadgets eligible for cover i	60 months
Rapid replacement i
Pro-rata refund i
Claim under warranty i
Replacement claims limit per Item for accidental damage/mechanical failure i	4.00

Home Security Cover i
Home Emergency Cover limit i	£1,000.00
Primary Heating System i
Cover Type i	Add-On
Internal plumbing and drainage i
Boiler breakdown cover i
Pest infestation cover i
Alternative Accommodation Cover i	£1,000.00
Unoccupied period i	60
Annual boiler service i
Internal gas supply pipe cover i
Domestic Power supply covered? i
Claims limit i	Unlimited

Home Security Cover i
Home Emergency Cover limit i	£1,000.00
Primary Heating System i
Cover Type i	Add-On
Internal plumbing and drainage i
Boiler breakdown cover i
Pest infestation cover i
Alternative Accommodation Cover i	£1,000.00
Unoccupied period i	60
Annual boiler service i
Internal gas supply pipe cover i
Domestic Power supply covered? i
Claims limit i	Unlimited

Representative APR i	29.9%
Representative cash transaction interest rate i	2.592%
Representative purchase rate i	2.207%
Risk based? i
Representative balance transfer rate i	2.207%
Initial minimum credit limit i	£250.00
Statement Due Date Change Fee i	£0.00

Alternative accommodation cover limit for buildings i	£80,000.00
Theft from outbuildings i	£3,000.00
Protection against inflation (Buildings)
Matching sets (contents) i
Contents compulsory excess i	£200.00
Property owner liability i	£2,000,000.00
Cancellation fee within 14 days i	£0.00
Contents cover limit i	£50,000.00
Alternative accommodation cover limit for contents i	£10,000.00
Buildings cover limit i	Unlimited
Cancellation fee after 14 days i	£0.00
Liability to domestic employees i	£10,000,000.00
Trace and access i	£5,000.00
Keys/locks if lost or stolen (Buildings) i	£1,000.00
Liability as a tenant i	£15,000.00
Replace belongings new for old i
Flood excess i	£200.00
Escape of water excess (minimum) i	£50.00
Money in the home i	£750.00
Visitor's possessions i	£1,000.00
Office equipment i	£5,000.00

Escape of water excess for buildings i	£50.00
Matching sets (Buildings) i
Frozen pipes i
Underground pipes, cables and tanks i	Covered as standard
Selling your home i
Emergency entries i
Accidental damage to drains i
Buildings compulsory excess i	£200.00
Unoccupied period i	60 days
Property owner liability i	£2,000,000.00
Helpline i
Cancellation fee after 14 days (buildings) i	£0.00
Amendment fee (telephone) i	£0.00

Account closure fee	£0.00
Charge for transferring investments to another platform i	£0.00
Charge for automatic reinvestment
Charge for transferring cash to another platform	£0.00
Early Account Closure Fee (12 months or less)	£0.00
Inactivity Charge	£0.00
Charge for selling holdings if not enough money in account to pay other charges	£0.00
Charge for telephone/postal share dealing	£0.00
Same Day Payment Charge	£0.00
Cost of receiving paper statements for a year	£0.00
App available i

Cost (Year 1) i	£312.50
Account closure fee	£0.00
Charge for transferring investments to another platform i	£0.00
Does the provider have a mobile app?
Charge for selling holdings if not enough money in account for charges	£0.00
Completing paper applications
Cash withdrawal by BACs	£0.00
Same day payment/payment by CHAPs	£20.00
Early account closure fee	£0.00
Cost of receiving paper statements for a year	£0.00
Charge for transferring cash to another platform i	£0.00

Cost (Year 1) i	£218.00
Account closure fee	£0.00
Charge for transferring investments to another platform i	£0.00
Does the provider have a mobile app?
Charge for selling holdings if not enough money in account for charges	£0.00
Completing paper applications
Cash withdrawal by BACs	£0.00
Same day payment/payment by CHAPs	£20.00
Early account closure fee	£0.00
Cost of receiving paper statements for a year	£0.00
Charge for transferring cash to another platform i	£0.00

HSBC

Bank accounts

Basic bank accounts

Overdrafts

Student bank accounts

Credit cards

0% balance transfer credit cards

0% purchase credit cards

Cashback and reward credit cards

Credit builder credit cards

Gadget insurance

Home emergency cover

Home insurance (building and contents)

Buildings insurance

Contents insurance

Investing and pensions

Fund and Share Accounts (for high frequency trading)

Fund and Share Accounts (for low frequency trading)

Ready-made Ethical General Investment Accounts

Ready-made Ethical Stocks and Shares ISAs

Ready-made General Investment Accounts

Ready-made Stocks and Shares ISAs

Stocks and Shares ISAs (self-invested)

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