HSBC is one of the UK’s banking giants, and has a huge presence worldwide too. Known as ‘the world’s local bank’ HSBC offers a wide range of current accounts, from fee-charging packaged accounts which come with additional benefits, to straightforward no frills bank accounts with no monthly charges. There are also a range of overdrafts available for those who need to dip into the red, with rates varying depending on which account you go for.
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HSBC is one of the UK’s biggest banks and has over 100 million customers worldwide. There are around 1,500 HSBC branches in the UK and the bank offers several current accounts to suit customers’ different requirements.
Before choosing any current account, make sure it is suitable for your needs. If it is only basic banking that you need, then HSBC offers a Bank Account with no monthly fee which offers 24/7 internet banking as well as telephone and branch access. The account also comes with an overdraft facility with a current rate of 19.9% EAR variable, and an HSBC debit card.
If you want an account with additional benefits, HSBC offers a packaged account called the Advance account, which comes with worldwide travel insurance, roadside breakdown assistance, life cover of £3,000, identity theft advice and there are no HSBC transaction fees on ATM withdrawals worldwide.
The Advance account costs £6 a month for the first three months, and after that you will pay the full monthly price which is £12.95. The account has an initial 12 month contract and is then renewable monthly.
HSBC also offers a Premier Bank Account to high earners, as well as student and graduate accounts, and a Passport account for those coming to the UK to work or study.
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