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 26th of 28 providers reviewed.

Customer happiness 54.56%
Customer trust 50.53%
Complaints performance 56.42%
Transparency rating 77.06%
Fairer Finance score
Reviewed Autumn 2022
60%

Credit cards

Ranked 25th of 31 providers reviewed.

Customer happiness 56.12%
Customer trust 52.81%
Complaints performance 56.42%
Transparency rating 50.64%
Fairer Finance score
Reviewed Autumn 2022
54%
Gold ribbon: first place

Home insurance (building and contents)

Ranked 10th of 48 providers reviewed.

Customer happiness 64.02%
Customer trust 63.01%
Complaints performance 74.08%
Transparency rating 72.18%
Fairer Finance score
Reviewed Autumn 2022
68%

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.

Life insurance

Ranked 10th of 26 providers reviewed.

Claims score 92.15%
Complaints performance 91.63%
Transparency rating 48.06%
Fairer Finance score
Reviewed Autumn 2022
77%

Mortgages

Ranked 13th of 23 providers reviewed.

Customer happiness 58.2%
Customer trust 52.56%
Complaints performance 78.48%
Transparency rating 62.95%
Fairer Finance score
Reviewed Autumn 2022
63%

Personal loans

Ranked 24th of 26 providers reviewed.

Customer happiness 55.37%
Customer trust 54.39%
Complaints performance 56.42%
Transparency rating 64.79%
Fairer Finance score
Reviewed Autumn 2022
58%

Savings Accounts

Ranked 41st of 50 providers reviewed.

Customer happiness 45.45%
Customer trust 54.46%
Complaints performance 56.42%
Transparency rating 79.87%
Fairer Finance score
Reviewed Autumn 2022
59%

Bank accounts

Basic bank accounts

HSBC

Basic Bank Account

5 stars
Cash withdrawal fee in UK (own bank) i £0.00
Annual fee i £0.00
Part of FSCS i
Faster Payment limit i £10,000.00
Maximum cash machine withdrawal per day i £300.00

Current accounts

HSBC

Advance Bank Account

5 stars
Annual fee i £0.00
Maximum cash machine withdrawal per day i £500.00
Part of FSCS i
Cash withdrawal fee in UK (own bank) i £0.00
Card payment fee (£) i £0.00
App capability? i

HSBC

Bank Account

4 stars
Annual fee i £0.00
Maximum cash machine withdrawal per day i £300.00
Part of FSCS i
Cash withdrawal fee in UK (own bank) i £0.00
Card payment fee (£) i £0.00
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 2% (Minimum £1.75, Maximum £5)
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i No free cash withdrawals

HSBC

Premier Bank Account

1 stars
Foreign cash withdrawal fee i 2.75%
Foreign cash withdrawal additional charge i £0.00
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i No free cash withdrawals

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 No free cash withdrawals

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 No free cash withdrawals

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 No free cash withdrawals

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 No free cash withdrawals

Overdrafts

HSBC

Premier Bank Account

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

HSBC

Advance Bank Account

1 stars
Risk based overdraft? i
Arranged overdraft interest free amount i £25.00
Arranged overdraft interest rate (representative EAR) i 39.9%

HSBC

Bank Account

1 stars
Risk based overdraft? i
Arranged overdraft interest free amount i £25.00
Arranged overdraft interest rate (representative EAR) i 39.9%

Student bank accounts

HSBC

Student Bank Account

5 stars
Arranged overdraft limit i £3,000.00
Tiered repayment of overdraft i
Switching / sign up incentive i £100 (Must make 5 qualifying transactions within 30 days of opening account)

HSBC

Graduate Bank Account

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

Business Credit Cards

Everyday Business Credit Cards

HSBC

Commercial Credit Card Visa

2 stars
Representative APR i 22%
Annual fee in first year i £32.00
Using card in Europe charge i 2.99%
Using card worldwide charge i 2.99%

Foreign Use Business Credit Cards

HSBC

Commercial Credit Card Visa

3 stars
Using card in Europe charge i 2.99%
Using card worldwide charge i 2.99%
Annual fee in first year i £32.00
Representative APR i 22%
Rewards i

Credit cards

0% balance transfer credit cards

HSBC

Balance Transfer Credit Card

3 stars
Duration of 0% balance transfer offer period i 30 months
Balance transfer fee during promotional period i 2.99%
Representative APR i 23.9%
Balance transfer rate during promotional period i 0%
Highest balance transfer fee during promotional period (%) i 2.99%
Representative balance transfer rate i 1.805%
Risk based? i

HSBC

Purchase Plus

3 stars
Duration of 0% balance transfer offer period i 17 months
Balance transfer fee during promotional period i 2.99%
Representative APR i 23.9%
Balance transfer rate during promotional period i 0%
Highest balance transfer fee during promotional period (%) i 2.99%
Representative balance transfer rate i 1.805%
Risk based? i

HSBC

Premier

3 stars
Duration of 0% balance transfer offer period i 18 months
Balance transfer fee during promotional period i 2.99%
Representative APR i 23.9%
Balance transfer rate during promotional period i 0%
Highest balance transfer fee during promotional period (%) i 2.99%
Representative balance transfer rate i 1.805%
Risk based? i

HSBC

Rewards

2 stars
Duration of 0% balance transfer offer period i 6 months
Balance transfer fee during promotional period i 2%
Representative APR i 23.9%
Balance transfer rate during promotional period i 0%
Highest balance transfer fee during promotional period (%) i 2%
Representative balance transfer rate i 1.805%
Risk based? i

0% purchase credit cards

HSBC

Purchase Plus

4 stars
Duration of purchases offer period i 20 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

HSBC

Premier

4 stars
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

HSBC

Balance Transfer Credit Card

3 stars
Duration of purchases offer period i 3 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

HSBC

Rewards

3 stars
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

Cashback and reward credit cards

HSBC

Premier World Elite

5 stars
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%

HSBC

Premier

1 stars
Reward extras i Extended warranty cover (2 years on selected household appliances), Airport lounge access for £20 (LoungeKey programme), 24/7 worldwide assistance, discounts and experiences available through HSBC Premier Privileges
Representative APR i 23.9%
Risk based? i
Annual fee in first year i £0.00
Annual fee after first year i £0.00
Foreign purchase fee i 2.99%

HSBC

Rewards

1 stars
Reward extras i
Representative APR i 23.9%
Risk based? i
Annual fee in first year i £0.00
Annual fee after first year i £0.00
Foreign purchase fee i 2.99%

Credit builder credit cards

HSBC

Classic

5 stars
Representative APR i 29.9%
Representative cash transaction interest rate i 2.592%
Representative purchase rate i 2.207%
Risk based? i
Initial minimum credit limit i £250.00
Representative balance transfer rate i 2.207%

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 23.9%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.805%

HSBC

Purchase Plus

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 2.99%
Representative APR i 23.9%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.805%

HSBC

Classic

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 2.99%
Representative APR i 29.9%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 2.207%

HSBC

Premier

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 2.99%
Representative APR i 23.9%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.805%

HSBC

Premier World Elite

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 2.99%
Representative APR i 59.3%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.456%

HSBC

Student

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 2.99%
Representative APR i 18.9%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.456%

HSBC

Rewards

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 2.99%
Representative APR i 23.9%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.805%

Home insurance (building and contents)

HSBC

Home Insurance

3 stars
Matching sets (Contents) i
Theft from outbuildings cover limit i £3,000.00
Escape of water excess i £50.00
Garden plants i £1,000.00
Alternative accommodation cover limit for contents i £10,000.00
Alternative accommodation cover limit for buildings i £80,000.00
Cover for keys if lost i £1,000.00
Money in the home i £750.00
Replace belongings new for old i
Buildings Cover limit i
Contents Cover limit i
24hr helpline i
Temporary freezer storage
Dual Contents i
Business Equipment
Personal possessions cover whilst living in a nursing home or residential care setting i
Medical Equipment Loan i
Theft from bogus officials i

Buildings insurance

HSBC

Home Insurance

4 stars
Trace and Access i £5,000.00
Cover for keys if lost i £1,000.00
Matching sets i
Rainfall (mm) i 25 mm per hour
Alternative accommodation cover limit i £80,000.00
Cover for keys if stolen i £1,000.00
Compulsory excess i £50.00
Escape of water excess i £50.00
24hr helpline i
Property owner liability i £2,000,000.00

Contents insurance

HSBC

Home Insurance

3 stars
Matching sets i
Cover for keys if lost i £1,000.00
Theft from outbuildings cover limit i £3,000.00
Cycles included whilst in the home i Part of sum insured
Replace belongings new for old i
Cover for keys if stolen i £1,000.00
Money in the home i £750.00
Alternative accommodation cover limit i £10,000.00
24hr helpline i

Investing and pensions

Fund and Share Accounts (for high frequency trading)

HSBC

InvestDirect Plus

3 stars
Account closure fee £0.00
Charge for transferring investments to another platform i £15 per holding
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
Same Day Payment Charge £0.00
Cost of receiving paper statements for a year £0.00
App available i
Charge for telephone/postal share dealing £29.95

HSBC

InvestDirect

2 stars
Account closure fee £0.00
Charge for transferring investments to another platform i £15 per holding
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
Same Day Payment Charge £0.00
Cost of receiving paper statements for a year £0.00
App available i
Charge for telephone/postal share dealing £29.95

Fund and Share Accounts (for low frequency trading)

HSBC

InvestDirect

3 stars
Account closure fee £0.00
Charge for transferring investments to another platform i £15 per holding
Charge for automatic reinvestment
Charge for telephone/postal share dealing £29.95
App available i
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
Same Day Payment Charge £0.00
Cost of receiving paper statements for a year £0.00

HSBC

InvestDirect Plus

3 stars
Account closure fee £0.00
Charge for transferring investments to another platform i £15 per holding
Charge for automatic reinvestment
Charge for telephone/postal share dealing £29.95
App available i
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
Same Day Payment Charge £0.00
Cost of receiving paper statements for a year £0.00