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 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 25^th 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%

Home insurance (building and contents)

Ranked 10^th 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

Ranked 16^th of 24 providers reviewed.

Customer happiness	58.72%
Customer trust	64.47%
Complaints performance	76.84%
Transparency rating	48.57%
Fairer Finance score Reviewed Autumn 2022	62%

Life insurance

Ranked 10^th 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 13^th 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 24^th 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 41^st 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%

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
Can you use your card to pay for items overseas? i

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

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

Risk based overdraft? i
Arranged overdraft interest free amount i	£25.00
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

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%

Duration of 0% balance transfer offer period i	27 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

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

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

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%

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%

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

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

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	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

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 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%

Accidental loss cover i	Not Covered
Mechanical breakdown cover i
Maximum single-item cover limit i	£1,500.00
Tablets i
Territorial limits restriction i
Accidental damage cover i
Mechanical breakdown cover replacement limit i	£1,500.00
Theft Cover i
Theft replacement limit i	£1,500.00
Malicious damage cover i
Unauthorised usage cover i	£2,500.00
Unauthorised usage cover (E-wallet) i	£0.00
Accessories cover limit i	£0.00
How is the excess charged? i	Standard excess applied to all gadgets and claim types
Lowest excess i	£75.00
Liquid damage excess i	£75.00
Theft & loss claims excess i	£75.00
Accidental damage and breakdown claims excess i	£75.00
Cancellation fee i	£0.00
Arrangement fee i	£0.00
Additional excess charge i	£0.00
Immediate cover with no additional excess in the first 30 days of the policy i	TRUE
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
Rapid replacement i
Pro-rata refund i
Claim under warranty i
Replacement claims limit per Item for accidental damage/mechanical failure i	4
Replacement claims limit per Item for theft or loss i	4
Replacement warranty i	No new warranty or extension on replaced items
International cover limit (Days) i	Unlimited
Type of product i	Multi-Insurance Policy
Universal gadget policy? i
Family cover i
Multi cover discounts i
Underwriter i	Aviva Insurance Limited
Age of customer requirement i	18
No claims period i	Immediate Cover
Refurbished device cover i
Second hand device cover i
Territorial limits restriction i	No Territiorial Limits Mentioned
Maximum age of phones i	60 Months
Maximum age of gadgets eligible for cover i	60 Months
Smartphones i
Smart watches i
Game Consoles i
Headphones i
Cameras i
E-readers i
Sat-Navs i
MP3 Players i
MacBooks Or Laptops

Water Supply Pipe Cover i
Boiler Breakdown Cover i
Home Security Cover i
Lost keys Cover i	Covered under the home emergency policy
Cover Type i	Add-On
Home Emergency Cover limit i	£1,000.00
Minimum Excess i	£0.00
Internal plumbing and drainage i
External Drainage i
Burst or damaged pipes i
Toilet unit i
Root damage cover i
Primary Heating System i
Temporary Emergency Heating i
Internal gas supply pipe cover i
Boiler Age Exclsuions i	No Exclusion
Annual boiler service i
Age of boiler to qualify for a beyond economic repair contribution i	No Exclusion
Contribution towards the cost of a new boiler if yours is beyond economic repair and is 5 years old or less. i	£500.00
Contribution towards the cost of a new boiler if yours is beyond economic repair and is 6 years old or less. i	£500.00
Contribution towards the cost of a new boiler if yours is beyond economic repair and is 7 years old or less. i	£500.00
Domestic Power supply covered? i
Roof damage i	Covered under the home emergency policy
Pest infestation cover i
Underwriter i	Aviva Insurance Limited
Maximum Excess i	£0.00
Alternative Accommodation Cover i	£1,000.00
24/7 Claims Helpline i
Unoccupied period i	90

Alternative accommodation cover limit for buildings i	£80,000.00
Matching sets (contents) i
Theft from outbuildings cover limit i	£3,000.00
Escape of water excess i	£50.00
Standard accidental damage - underground services
Alternative accommodation cover limit for contents i	£10,000.00
Cycles included whilst in the home i
Cover for keys if lost or stolen (contents) i	£1,000.00
Keys/locks if lost or stolen (Buildings) i	£1,000.00
Money in the home i	£750.00
Replace belongings new for old i
Trace and access i	£5,000.00
Matching sets (Buildings) i
Escape of water (plus compulsory excess) i	£50.00
Compulsory excess (contents) i	£200.00
Additional flood excess i	£0.00
Standard excess for subsidence claims	£1,000.00
Liability as a tenant i	£15,000.00
Liability to domestic employees i	£10,000,000.00
Property owner liability i	£2,000,000.00
Buildings cover limit i	Unlimited
Contents cover limit i	£50,000.00
Underwriter	Aviva
24hr helpline i
Unoccupied period i	60
Protection against inflation i
Repairs guarantee i
Amendment fee (telephone) i
Cancellation fee after 14 days i	£0.00
Protected no claims discount option
24-hour claims helpline
Cancellation fee before 14 days	£0.00
Accidental damage - glass and sanitary wear
Damage caused by freezing pipes
Damage from Emergency Services
Cover to break in and clear sewage pipe
Garden protection	£2,500.00
Blocked drains i
Accidental damage cover
Domestic heating fuel and metered water i
Music, film or electronic data downloads
Documents	Sum insured
Visitor's possessions	£1,000.00
Out in open cover
Frozen Food Cover	£1,000.00
Temporary freezer storage
Theft or attempted theft i
Dual contents i
Escape of water or oil from appliances i
Escape of water or oil from heating systems i	Sum Insured
Credit cards i	£300.00
Storage fees (alternative accommodation) i
Garden plants i
Business equipment	£5,000.00
Household removals
Student's belongings i
Shopping in transit i	£0.00
Cover Away from Home offered for: Electronics	Optional
Cover away from home offered for: money	Optional
Cover away from home offered for: jewellery	Optional
Cover away from home offered for: bicycles & other	Optional
Special events (weddings and civil ceremonies) - limit	Not Offered
Special events (weddings and civil ceremonies) - days	60 days
Special events (births) - limit	Not Offered
Special events (births) - days	Not Offered
Special events (anniversaries and birthdays) - limit	Not Offered
Special events (anniversaries and birthdays) - days	Not Offered
Special events (religious events) - limit	Unlimited
Special events (religious events) - days	60 days
Cover for home emergency i
Cover for legal protection/expenses i
Cover for items away from home? i
Personal possessions cover whilst living in a nursing home or residential care setting i	£0.00
Medical equipment loan i	£0.00
Theft from bogus officials i
Storm and flood i
Fire, smoke, explosion, lightning, or earthquake i
Malicious damage i
Civil riot or commotion i
Collisions (Including animals, trees, satellites, and moving vehicles) i
Snow depth (cm) i	30 cm in 24 hours
Rainfall (mm) i	25 mm per hour
Windspeed (mph) i	55 mph

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

Bank accounts

Basic bank accounts

Current accounts

Foreign use bank accounts

Overdrafts

Student bank accounts

Business Credit Cards

Everyday Business Credit Cards

Foreign Use Business Credit Cards

Credit cards

0% balance transfer credit cards

0% purchase credit cards

Cashback and reward credit cards

Credit builder credit cards

Foreign use 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 General Investment Accounts

Ready-made Stocks and Shares ISAs

Stocks and Shares ISAs (self-invested)

Personal loans

Savings Accounts

1 Year Fixed Rate Accounts

Cost (Year 1) i	£248.00
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

Representative APR (on £5,000 loan, 36 month term)	7.9%
Unpaid Repayment Fee i	£0.00
Early settlement fee (Days interest)	28 days
Available to new customers? i
Eligibility checker
Minimum borrowing amount	£1,000.00
Maximum borrowing amount	£25,000.00
Minimum borrowing length	12 months
Maximum borrowing amount	60 months

Interest Rate (AER) i	3.5%
Minimum Opening Balance i	£2,000.00
What happens at maturity? i	The provider will contact you before the account matures. The money will be transferred into a linked or nominated account unless you instruct them otherwise.
Part of FSCS i
Maximum Balance i	£1,000,000.00
Minimum Age to Open Account i	7
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i	Must have a HSBC current or savings account (ISAs, Regular Savers and Basic Bank Accounts don't count)
Can you make early withdrawals? i
Withdrawal Penalty (days) i	If balance is over £50,000 no earlier access, if balance is under £50,000 earlier access costs 90 days interest

Interest Rate (AER) i	3.75%
Minimum Opening Balance i	£2,000.00
What happens at maturity? i	The provider will contact you before the account matures. The money will be transferred into a linked or nominated account unless you instruct them otherwise.
Part of FSCS i
Maximum Balance i	£1,000,000.00
Minimum Age to Open Account i	7
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i	Must have a HSBC current or savings account (ISAs, Regular Savers and Basic Bank Accounts don't count)
Can you make early withdrawals? i
Withdrawal Penalty (days) i	If balance is over £50,000 no earlier access, if balance is under £50,000 earlier access costs 90 days interest

Interest Rate (AER) i	1.2%
Maximum Balance i	Unlimited
Part of FSCS i
Withdrawal Penalty i
Additional Information i
Minimum Opening Balance i	£1.00
Minimum Age to Open Account i	16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Penalty free withdrawals? i

Interest Rate (AER) i	0.65%
Maximum Balance i	Unlimited
Part of FSCS i
Withdrawal Penalty i
Additional Information i
Minimum Opening Balance i	£1.00
Minimum Age to Open Account i	18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Penalty free withdrawals? i

Interest Rate (AER) i	2.1%
Part of FSCS i
Withdrawal Penalty i
Minimum Opening Balance i	£1.00
Minimum Age to Open Account i	16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Penalty free withdrawals? i
Can you transfer in funds from another cash ISA?
Can you transfer in funds from a stocks and shares ISA?

Interest Rate (AER) i	2.5%
Part of FSCS i
Withdrawal Penalty i
Minimum Opening Balance i	£1.00
Minimum Age to Open Account i	16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Penalty free withdrawals? i
Can you transfer in funds from another cash ISA?
Can you transfer in funds from a stocks and shares ISA?