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 31 providers reviewed.

Customer happiness	56.13%
Customer trust	52.19%
Complaints performance	58.62%
Transparency rating	78.17%
Fairer Finance score Reviewed Spring 2023	61%

Credit cards

Ranked 24^th of 31 providers reviewed.

Customer happiness	56.52%
Customer trust	53.81%
Complaints performance	59.17%
Transparency rating	52.31%
Fairer Finance score Reviewed Spring 2023	55%

Home insurance (building and contents)

Ranked 16^th of 48 providers reviewed.

Customer happiness	66.73%
Customer trust	64.62%
Complaints performance	72.58%
Transparency rating	69.16%
Fairer Finance score Reviewed Spring 2023	68%

Investing and pensions

Ranked 22^nd of 24 providers reviewed.

Customer happiness	59.11%
Customer trust	59.78%
Complaints performance	68.86%
Transparency rating	48.75%
Fairer Finance score Reviewed Spring 2023	59%

Life insurance

Ranked 10^th of 25 providers reviewed.

Claims score	92.15%
Complaints performance	88.92%
Transparency rating	47.13%
Fairer Finance score Reviewed Spring 2023	76%

Mortgages

Ranked 18^th of 23 providers reviewed.

Customer happiness	56.59%
Customer trust	52.53%
Complaints performance	74.58%
Transparency rating	54.17%
Fairer Finance score Reviewed Spring 2023	59%

Personal loans

Ranked 11^th of 26 providers reviewed.

Customer happiness	60.28%
Customer trust	58.58%
Complaints performance	58.62%
Transparency rating	76.06%
Fairer Finance score Reviewed Spring 2023	63%

Savings Accounts

Ranked 39^th of 53 providers reviewed.

Customer happiness	48.39%
Customer trust	56.1%
Complaints performance	58.62%
Transparency rating	76.52%
Fairer Finance score Reviewed Spring 2023	60%

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%

Minimum Age i	7
Interest Rate (AER) First Tier i	5%
Maximum Balance First Tier of Interest Covers i	£3,000.00
Maximum Age i	17
Interest Rate (AER) Second Tier i	2%
Maximum Balance Second Tier of Interest Covers i	3001+
Interest Rate (AER) Third Tier i
Maximum Balance Third Tier of Interest Covers i
Maximum Cash Withdrawal i	£100.00
Ability to freeze or report a card lost via app? i
Rewards i
Additional information i
Cash Transaction Fee i	0%
Cash Withdrawal Fee i	£0.00
Card Delivery Fee i	£0.00
Replacement Card Fee i	£0.00
Foreign Cash Withdrawal Fee i	2.75% plus a fee of 2% (minimum £1.75, maximum £5)
Foreign Transaction Fee i	2.75%

Account Type i	Easy Access
Interest Rate (AER) i	5%
Minimum Opening Balance i	£10.00
Maximum Balance i	£0.00
Notice Period i
Fixed Term Length i
Minimum Age to Open Account i	7
Maximum Age i	17
Withdrawal Penalty i	For children under the age of 11, a signature from a parent or guardian is necessary for withdrawals of £50 or more.
Part of FSCS i
Sharia Account i
Additional Opening Criteria i
Additional Information i	Reverts into Flexible Saver on child's 18th birthday.
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

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

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	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

Duration of 0% balance transfer offer period i	6 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 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

Home Security Cover i
Home Emergency Cover limit i	£1,000.00
Internal plumbing and drainage i
Primary Heating System i
Boiler breakdown cover
Annual boiler service i
Internal gas supply pipe cover i
Pest infestation cover i
Domestic Power supply covered? i
Cover Type i	Add-On
Alternative Accommodation Cover i	£1,000.00
Unoccupied period i	90
Claims limit i	Unlimited

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

Children's Accounts

Children's Bank Accounts

Children's Savings Accounts

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)

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
Alternative accommodation cover limit for contents i	£10,000.00
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
Escape of water excess (Minimum) i	£50.00
Contents compulsory excess i	£200.00
Additional flood excess i	£0.00
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 (Maximum) i	Unlimited
Contents cover limit (Maximum) i	£50,000.00
Cancellation fee after 14 days i	£0.00
Cancellation fee before 14 days	£0.00
Visitor's possessions	£1,000.00
Office equipment	£5,000.00

Matching sets (Buildings) i
Escape of water (plus compulsory excess) i	£50.00
Buildings compulsory excess i	£200.00
Escape of water excess i	£50.00
Unoccupied period i	60
24hr helpline i
Cancellation fee after 14 days i	£0.00
Amendment fee (telephone) i	£0.00
Property owner liability i	£2,000,000.00

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
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	£0.00

Cost (Year 1) i	£210.00
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	5.05%
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	5.1%
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	4%
Minimum Opening Balance i	£1.00
Maximum Balance i	£0.00
Part of FSCS i
Withdrawal Penalty i	A lower rate of 0.65% will be paid in months where there is a withdrawal.
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	Must have a HSBC current or savings account
Penalty free withdrawals? i
Additional Information i

Interest Rate (AER) i	2.25%
Minimum Opening Balance i	£1.00
Maximum Balance i	Unlimited
Part of FSCS i
Withdrawal Penalty i
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
Additional Information i

Interest Rate (AER) i	3.2%
Minimum Opening Balance i	£1.00
Part of FSCS i
Withdrawal Penalty i
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?