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.

HSBC
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Bank accounts

Ranked 27th of 34 providers reviewed.

Customer happiness 55.35%
Customer trust 49%
Complaints performance 65.61%
Transparency rating 66.1%
Fairer Finance score
Reviewed Spring 2021
59%

Credit cards

Ranked 19th of 28 providers reviewed.

Customer happiness 57.54%
Customer trust 53.98%
Complaints performance 65.63%
Transparency rating 47.83%
Fairer Finance score
Reviewed Spring 2021
56%
Gold ribbon: first place

Home insurance (building and contents)

Ranked 12th of 52 providers reviewed.

Customer happiness 58.08%
Customer trust 55.26%
Complaints performance 77.23%
Transparency rating 70.33%
Fairer Finance score
Reviewed Spring 2021
65%

Investing and pensions

Our ratings for Investing and pensions are hosted exclusively on The Times Money Mentor site.

Go there now to find out how we rated this product.

Gold ribbon: first place

Life insurance

Ranked 4th of 25 providers reviewed.

Claims score 99.40%
Complaints performance 91.96%
Transparency rating 49.38%
Fairer Finance score
Reviewed Spring 2021
80%
Gold ribbon: first place

Mortgages

Ranked 8th of 21 providers reviewed.

Customer happiness 58.69%
Customer trust 54.57%
Complaints performance 80.04%
Transparency rating 62.38%
Fairer Finance score
Reviewed Spring 2021
64%
Gold ribbon: first place

Personal loans

Ranked 14th of 25 providers reviewed.

Customer happiness 61.1%
Customer trust 57.29%
Complaints performance 65.63%
Transparency rating 56.67%
Fairer Finance score
Reviewed Spring 2021
60%

Savings accounts

Ranked 35th of 50 providers reviewed.

Customer happiness 47.07%
Customer trust 51.84%
Complaints performance 65.63%
Transparency rating 84.25%
Fairer Finance score
Reviewed Spring 2021
62%

Bank accounts

Basic bank accounts

HSBC

Basic Bank Account

5 stars
Faster Payment limit i £25,000
Annual fee i £0
Maximum cash machine withdrawal per day i £300
Part of FSCS i

Current accounts

HSBC

Advance Bank Account

4 stars
Annual fee i £0
Maximum cash machine withdrawal per day i £500
Part of FSCS i
Cash withdrawal fee in UK (own bank) i £0
Card payment fee (£) i £0
App capability? i

HSBC

Bank Account

4 stars
Annual fee i £0
Maximum cash machine withdrawal per day i £300
Part of FSCS i
Cash withdrawal fee in UK (own bank) i £0
Card payment fee (£) i £0
App capability? i

Foreign use bank accounts

HSBC

Advance Bank Account

1 stars
Foreign cash withdrawal fee i 2.75%
Foreign cash withdrawal additional charge i £0
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i

HSBC

Premier Bank Account

1 stars
Foreign cash withdrawal fee i 2.75%
Foreign cash withdrawal additional charge i £0
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i

HSBC

Bank Account

1 stars
Foreign cash withdrawal fee i 2.75%
Foreign cash withdrawal additional charge i 2% (Minimum £1.75, Maximum £5)
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i

HSBC

Student Bank Account

1 stars
Foreign cash withdrawal fee i 2.75%
Foreign cash withdrawal additional charge i 2% (Minimum £1.75, Maximum £5)
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i

HSBC

Graduate Bank Account

1 stars
Foreign cash withdrawal fee i 2.75%
Foreign cash withdrawal additional charge i 2% (Minimum £1.75, Maximum £5)
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i

HSBC

Basic Bank Account

1 stars
Foreign cash withdrawal fee i 2.75%
Foreign cash withdrawal additional charge i 2% (Minimum £1.75, Maximum £5)
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i

Overdrafts

HSBC

Premier Bank Account

5 stars
Risk based overdraft? i
Arranged overdraft interest free amount i £500
Arranged overdraft interest rate (representative EAR) i 39.90%

HSBC

Advance Bank Account

3 stars
Risk based overdraft? i
Arranged overdraft interest free amount i £25
Arranged overdraft interest rate (representative EAR) i 39.90%

HSBC

Bank Account

3 stars
Risk based overdraft? i
Arranged overdraft interest free amount i £25
Arranged overdraft interest rate (representative EAR) i 39.90%

Student bank accounts

HSBC

Graduate Bank Account

4 stars
Arranged overdraft limit i £1,500
Tiered repayment of overdraft i Year 1 - £3,000 | Year 2 - £2,000, year 3 - Up to £1,000 interest free
Switching / sign up incentive i

HSBC

Student Bank Account

4 stars
Arranged overdraft limit i £3,000
Tiered repayment of overdraft i Year 1 - £3,000 | Year 2 - £2,000, year 3 - Up to £1,000 interest free
Switching / sign up incentive i

Credit cards

0% balance transfer credit cards

HSBC

Premier

4 stars
Duration of balance transfer offer period i 18 months
Balance transfer fee during promotional period i 1.40%
Representative APR i 18.90%
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.46%
Risk based? i

HSBC

Balance Transfer Credit Card

3 stars
Duration of balance transfer offer period i 29 months
Balance transfer fee during promotional period i 2.75%
Representative APR i 21.90%
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.67%
Risk based? i

HSBC

Purchase Plus

3 stars
Duration of balance transfer offer period i 18 months
Balance transfer fee during promotional period i 2.90%
Representative APR i 22.90%
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.74%
Risk based? i

HSBC

Rewards

2 stars
Duration of balance transfer offer period i 6 months
Balance transfer fee during promotional period i 2%
Representative APR i 21.90%
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.67%
Risk based? i

0% purchase credit cards

HSBC

Purchase Plus

4 stars
Duration of purchases offer period i 18 months
Representative APR i 22.90%
Highest APR i 25.90%
Purchase rate during promotional period i 0%
Representative purchase rate i 1.74%
Number of days before interest is charged on purchases i 56 days
Risk based? i

HSBC

Premier

4 stars
Duration of purchases offer period i 9 months
Representative APR i 18.90%
Highest APR i 18.90%
Purchase rate during promotional period i 0%
Representative purchase rate i 1.46%
Number of days before interest is charged on purchases i 56 days
Risk based? i

HSBC

Rewards

4 stars
Duration of purchases offer period i 6 months
Representative APR i 21.90%
Highest APR i 24.90%
Purchase rate during promotional period i 0%
Representative purchase rate i 1.67%
Number of days before interest is charged on purchases i 56 days
Risk based? i

HSBC

Balance Transfer Credit Card

3 stars
Duration of purchases offer period i 3 months
Representative APR i 21.90%
Highest APR i 24.90%
Purchase rate during promotional period i 0%
Representative purchase rate i 1.67%
Number of days before interest is charged on purchases i 56 days
Risk based? i

Cashback and reward credit cards

HSBC

Premier World Elite

5 stars
Reward extras i Airport lounge access (LoungeKey programme), Free unlimited Wi-Fi (via Boingo), 10% discount on hotels booked through Expedia and through Agoda, 12 months Expedia+ Gold membership, 24/7 worldwide assistance, HSBC Premier Privileges (discounts and experiences)
Estimated amount of money customers get back in the 1st year (minus annual fee) i £333.69
Estimated amount of money customers get back after the 1st year (minus annual fee) i £333.69
Risk based? i
Annual fee in 1st year i £195
Annual fee after 1st year i £195
Foreign purchase fee i 2.99%

HSBC

Premier

4 stars
Reward extras i Extended warranty cover (2 years on selected household appliances), Airport lounge access (LoungeKey programme), Free unlimited Wi-Fi (via Boingo), 10% discount on hotels booked through Expedia and through Agoda, 12 months Expedia+ Gold membership, 24/7 worldwide assistance, HSBC Premier Privileges (discounts and experiences)
Estimated amount of money customers get back in the 1st year (minus annual fee) i £229.48
Estimated amount of money customers get back after the 1st year (minus annual fee) i £229.48
Risk based? i
Annual fee in 1st year i £0
Annual fee after 1st year i £0
Foreign purchase fee i 2.99%

HSBC

Rewards

1 stars
Reward extras i
Estimated amount of money customers get back in the 1st year (minus annual fee) i £88.40
Estimated amount of money customers get back after the 1st year (minus annual fee) i £63.40
Risk based? i
Annual fee in 1st year i £0
Annual fee after 1st year i £0
Foreign purchase fee i 2.99%

Credit builder credit cards

HSBC

Classic

5 stars
Representative APR i 29.90%
Representative cash transaction interest rate i 2.21%
Representative purchase rate i 2.21%
Risk based? i
Initial minimum credit limit i £250
Representative balance transfer rate i 2.21%

Foreign use credit cards

HSBC

Balance Transfer Credit Card

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 2.99%
Representative APR i 21.90%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.67%

HSBC

Purchase Plus

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 2.99%
Representative APR i 22.90%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.74%

HSBC

Classic

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 2.99%
Representative APR i 29.90%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 2.21%

HSBC

Premier

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 2.99%
Representative APR i 18.90%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.46%

HSBC

Premier World Elite

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 2.99%
Representative APR i 59.30%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.46%

HSBC

Student

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 2.99%
Representative APR i 18.90%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.46%

HSBC

Rewards

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 2.99%
Representative APR i 21.90%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.67%

Home insurance (building and contents)

HSBC

Home Insurance

4 stars
Matching sets i
Theft from outbuildings cover limit i £3,000
Escape of water excess i £50
Alternative accommodation cover limit i 20% of sum insured or £80,000
Cover for keys if lost i £1,000
Money in the home i £750
Replace belongings new for old i
24hr helpline i

Buildings insurance

HSBC

Home Insurance

4 stars
Finding & repairing a leak cover limit i £5,000
Cover for keys if lost i £1,000
Matching sets i
Alternative accommodation cover limit i 20% of sum insured or £80,000
Cover for keys if stolen i £1,000
Compulsory excess i £50
Escape of water excess i £50
24hr helpline i
Property owner liability i £2,000,000

Contents insurance

HSBC

Home Insurance

4 stars
Theft from outbuildings cover limit i £3,000
Matching sets i
Cover for keys if lost i £1,000
Cover limit for cycles in the home i Part of sum insured
Replace belongings new for old i
Alternative accommodation cover limit i £10,000
Money in the home cover limit i £750
Cover for keys if stolen i £1,000
24hr helpline i

Investing and pensions

Fund and Share Accounts (for high frequency trading)

HSBC

InvestDirect Plus

Our ratings for Fund and Share Accounts (for high frequency trading) are hosted exclusively on The Times Money Mentor site.

Go there now to find out how we rated this product.

HSBC

InvestDirect

Our ratings for Fund and Share Accounts (for high frequency trading) are hosted exclusively on The Times Money Mentor site.

Go there now to find out how we rated this product.

Fund and Share Accounts (for low frequency trading)

HSBC

InvestDirect

Our ratings for Fund and Share Accounts (for low frequency trading) are hosted exclusively on The Times Money Mentor site.

Go there now to find out how we rated this product.

HSBC

InvestDirect Plus

Our ratings for Fund and Share Accounts (for low frequency trading) are hosted exclusively on The Times Money Mentor site.

Go there now to find out how we rated this product.