HSBC Current Accounts Guide
It now has its headquarters in London but is very much an international business, with 7200 offices in more than 80 countries.
The bank increased its presence in the UK in the early 1990s when it bought Midland Bank, one of the leading UK banks of the time. HSBC also runs the financial services operation of Marks & Spencer, which includes M&S Bank.
In addition, HSBC is the parent company of First Direct, the telephone and internet bank.
What types of current account does HSBC provide?
The bank has a range of current accounts. The basic offering is a fee-free account that can be operated via branches, telephone, mobile and over the internet
The top-of-the-range Premier bank account has no monthly fee but the eligibility criteria are quite stringent: accountholders must either have joint savings or investments of at least £50,000 with HSBC in the UK and their main income must be paid into the account; or they must have an annual income of at least £100,000 and one of the following products with HSBC in the UK; a mortgage; an investment, life insurance or protection product; or, qualify for HSBC Premier in another country.
In return, the account provides a £500 fee-free overdraft, a dedicated relationship manager, wealth management advice and preferential terms on HSBC products, as well as travel insurance and travel safety assistance.
HSBC also offers a children’s bank account called MyMoney, Student and Graduate accounts. Its Basic Bank Account is a simple account that's easy to manage whether you're new to the UK or a UK resident.
What are the advantages of using HSBC current accounts?
HSBC has a broad range of current accounts to suit the requirements or different customers. The bank’s international network makes it particularly relevant to people who travel frequently or who perhaps own property abroad.
Why should you use MoneySupermarket to compare HSBC current accounts?
At MoneySupermarket we list the details of hundreds of current accounts so that you can compare and contrast what is on offer from the leading banks and building societies.
So why stick with your existing bank, when you could get a better deal elsewhere?