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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Gold ribbon: first place

Bank accounts

Ranked 15th of 34 providers reviewed.

Customer happiness 54%
Customer trust 45%
Complaints performance 72%
Transparency rating 64%
Fairer Finance score
Reviewed Autumn 2019
59%

Credit cards

Ranked 18th of 32 providers reviewed.

Customer happiness 53%
Customer trust 45%
Complaints performance 74%
Transparency rating 39%
Fairer Finance score
Reviewed Autumn 2019
53%
Gold ribbon: first place

Home insurance (building and contents)

Ranked 15th of 49 providers reviewed.

Customer happiness 54%
Customer trust 51%
Complaints performance 76%
Transparency rating 58%
Fairer Finance score
Reviewed Autumn 2019
60%
Gold ribbon: first place

Life insurance

Ranked 7th of 24 providers reviewed.

Claims score 99.89%
Complaints performance 88%
Transparency rating 42%
Fairer Finance score
Reviewed Autumn 2019
76%

Mortgages

Ranked 12th of 21 providers reviewed.

Customer happiness 54%
Customer trust 43%
Complaints performance 75%
Transparency rating 51%
Fairer Finance score
Reviewed Autumn 2019
56%

Personal loans

Ranked 14th of 29 providers reviewed.

Customer happiness 50%
Customer trust 45%
Complaints performance 74%
Transparency rating 57%
Fairer Finance score
Reviewed Autumn 2019
56%

Savings accounts

Ranked 25th of 46 providers reviewed.

Customer happiness 44%
Customer trust 45%
Complaints performance 74%
Transparency rating 65%
Fairer Finance score
Reviewed Autumn 2019
57%
Gold ribbon: first place

Travel insurance

Ranked 9th of 65 providers reviewed.

Customer happiness 61%
Customer trust 49%
Complaints performance 76%
Transparency rating 46%
Fairer Finance score
Reviewed Autumn 2019
58%

Bank accounts

Basic bank accounts

HSBC

Basic Bank Account

4 stars
Faster Payment limit i £25,000
Maximum cash machine withdrawal per day i £300
Part of FSCS i

Current accounts

HSBC

Advance Bank Account

4 stars
Faster Payment limit i £25,000
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
Faster Payment limit i £25,000
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

3 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

3 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

2 stars
Foreign cash withdrawal fee i 2.75%
Foreign cash withdrawal additional charge i 2% (Minimum £1.75, Maximum £5.00)
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i

HSBC

Student Bank Account

2 stars
Foreign cash withdrawal fee i 2.75%
Foreign cash withdrawal additional charge i 2% (Minimum £1.75, Maximum £5.00)
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i

HSBC

Graduate Bank Account

2 stars
Foreign cash withdrawal fee i 2.75%
Foreign cash withdrawal additional charge i 2% (Minimum £1.75, Maximum £5.00)
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i

HSBC

Basic Bank Account

2 stars
Foreign cash withdrawal fee i 2.75%
Foreign cash withdrawal additional charge i 2% (Minimum £1.75, Maximum £5.00)
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i

Student bank accounts

HSBC

Graduate Bank Account

5 stars
Arranged overdraft limit i £1500 year 1, £1000 year 2,
Tiered repayment of overdraft i Year 1 - 1500 | Year 2 - 1000
Switching / sign up incentive i

HSBC

Student Bank Account

5 stars
Arranged overdraft limit i £3,000
Tiered repayment of overdraft i 1st year graduate: Up to £1,500 - 0% EAR (variable). Anything above £1,500 - 19.9% EAR (variable) 2nd year graduate: Up to £1,000 - 0% EAR (variable). Anything above £1,000 - 19.9% EAR (variable)
Switching / sign up incentive i

Credit cards

0% balance transfer credit cards

HSBC

Balance Transfer Credit Card

4 stars
Duration of balance transfer offer period i 25 months
Balance transfer fee during promotional period i 1.50%
Representative APR i 21.90%
Risk based? i
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.67%

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%
Risk based? i
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.46%

HSBC

Rewards

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

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%
Risk based? i
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.74%

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%
Risk based? i
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

HSBC

Premier

4 stars
Duration of purchases offer period i 9 months
Representative APR i 18.90%
Highest APR i 18.90%
Risk based? i
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

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%
Risk based? i
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

HSBC

Rewards

3 stars
Duration of purchases offer period i 6 months
Representative APR i 21.90%
Highest APR i 24.90%
Risk based? i
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

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 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 after 1st year i £0
Foreign purchase fee i 2.99%

HSBC

Rewards

3 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 after 1st year i £0
Foreign purchase fee i 2.99%

Foreign use credit cards

HSBC

Balance Transfer Credit Card

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

HSBC

Purchase Plus

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

HSBC

Classic

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

HSBC

Premier

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

HSBC

Premier World Elite

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

HSBC

Student

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

HSBC

Rewards

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

Low rate credit cards

HSBC

Classic

2 stars
Representative APR i 29.90%
Representative cash transaction interest rate i 2.21%
Representative purchase rate i 2.21%
Risk based? i
Representative balance transfer rate i 2.21%
Representative money transfer rate i 2.21%

HSBC

Student

1 stars
Representative APR i 18.90%
Representative cash transaction interest rate i 1.78%
Representative purchase rate i 1.46%
Risk based? i
Representative balance transfer rate i
Representative money transfer rate i

Money transfer credit cards

HSBC

Premier

5 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 18 months
Representative APR i 18.90%
Risk based? i
Money transfer fee during promotional period i 1.40%
Representative cash transaction interest rate i 1.46%

HSBC

Purchase Plus

4 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 18 months
Representative APR i 22.90%
Risk based? i
Money transfer fee during promotional period i 2.90%
Representative cash transaction interest rate i 2.08%

HSBC

Balance Transfer Credit Card

4 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 25 months
Representative APR i 21.90%
Risk based? i
Money transfer fee during promotional period i 1.50%
Representative cash transaction interest rate i 2.08%

HSBC

Rewards

3 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 6 months
Representative APR i 21.90%
Risk based? i
Money transfer fee during promotional period i 2%
Representative cash transaction interest rate i 2.08%

HSBC

Classic

1 stars
Money transfer rate during promotional period i
Duration of money transfer offer period i
Representative APR i 29.90%
Risk based? i
Money transfer fee during promotional period i
Representative cash transaction interest rate i 2.21%

HSBC

Premier World Elite

1 stars
Money transfer rate during promotional period i
Duration of money transfer offer period i
Representative APR i 59.30%
Risk based? i
Money transfer fee during promotional period i
Representative cash transaction interest rate i 1.46%

Home insurance (building and contents)

HSBC

Home Insurance

4 stars
Escape of water excess i £50
Matching sets i
Theft from outbuildings cover limit i £3,000
24hr helpline i
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

Buildings insurance

HSBC

Home Insurance

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

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.

Travel insurance

Annual multi-trip insurance

HSBC

Annual Trip

2 stars
Medical excess i £50
Cancelling before travel cover limit i £5,000
Personal Possessions and Baggage - damaged, lost or stolen- cover limit i £0
Max trip duration i 31 days
Emergency medical cover and repatriation cover limit i £10,000,000
Cutting trip short cover limit i £5,000
Abandoning your trip cover limit i £5,000
Lost or stolen cash i £300
Combined passport & travel cover limit i £750
Natural disaster relocation cover i Optional
Natural disaster baggage cover i
Mental health cover i

Single trip insurance

HSBC

Single Trip (with baggage cover)

3 stars
Medical excess i £50
Cancelling before travel cover limit i £5,000
Personal Possessions and Baggage - damaged, lost or stolen - cover limit i £1,500
Emergency medical cover and repatriation cover limit i £10,000,000
Cutting trip short cover limit i £5,000
Missed departure cover limit i £1,000
Abandoning your trip cover limit i £5,000
Lost or stolen cash i £300
Combined passport & travel cover limit i £750

HSBC

Single Trip

2 stars
Medical excess i £50
Cancelling before travel cover limit i £5,000
Personal Possessions and Baggage - damaged, lost or stolen - cover limit i £0
Emergency medical cover and repatriation cover limit i £10,000,000
Cutting trip short cover limit i £5,000
Missed departure cover limit i £1,000
Abandoning your trip cover limit i £5,000
Lost or stolen cash i £300
Combined passport & travel cover limit i £750

Travel insurance add-on: winter sports

HSBC

Travel insurance

3 stars
Ski equipment owned cover limit i £500
Single owned item cover limit i £500
Cover limit for hire of ski equipment due to loss/damage/delay to own equipment i £200
Ski equipment owned excess i £50
Ski equipment hired i £400
Single item limit for hired equipment i £400
Avalanche closure cover limit i £200
Piste closure cover limit i £300
Unused ski pass due to illness or injury i £200