HSBC current accounts for July 2020

HSBC's offers a full range of current accounts, with the benefits that come with a big bank.


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You get the peace of mind of a big bank
HSBC account's are very standard - unless there's an incentive look elsewhere
With HSBC you get all the benefits of banking with a global financial institution. Security, 24/7 customer service, fraud detection, and global acceptance are all a given with a big bank.

Like other big banks, HSBC are also able also offer deals and incentives to grab attention. Currently, HSBC is offering £150 to new customers with the Advance Bank Account.

Starling Bank

Starling Bank: award-winning banking on your mobile

  • No monthly fees or fees overseas
  • Apply in minutes, direct from the app
  • Winner 2020 - Best Current Account, British Bank Awards

Types of current from HSBC

HSBC has a range of current accounts to suit different needs. Whether you want premium benefits, a no-frills basic account, or a student overdraft, HSBC have you covered.

  • Reward and incentive accounts

    HSBC offers £150 for switching to its Advance Bank Account. A lot of high-street banks are doing this, so make sure you compare the lot to get the best deal.
    Learn more about reward and incentive accounts

  • Premium accounts

    HSBC’s Premier Bank Account gives customers access to a range of benefits. Premium accounts like this often involve paying in higher amounts, with some even charging a monthly fee. See how HSBC stack up against the rest of the market by comparing them.
    Learn more about premium current accounts

  • Student accounts

    Most students need an overdraft to dip into. HSBC offers this, with an interest-free arranged overdraft of £1,000. Check out the competition to see if there are any better deals for student bank accounts, such as railcards, tastecards, and other discounts.
    Learn more about student accounts

  • Graduate accounts

    HSBC offer a graduate account with an interest-free arranged overdraft. Graduates often need an overdraft to manage their transition into work, so check out the full market to find the best product for you.
    Learn more about graduate accounts

  • Children’s accounts

    HSBC’s MyMoney Children’s Bank Account is designed to help children aged 7-17 to manage their money.
    Learn more about children’s accounts

The benefits of banking with HSBC

  • Rewards systems. HSBC has a large reward scheme which provides access to benefits across the globe. You build up points from everyday spending on your card and once you have enough points these can be redeemed for everything from travel and holidays, dining out at restaurants, fun experiences and shopping, to health and fitness. You can also get frequent flyer points on select cards which can be converted to flights or upgrades.
  • Online management. With HSBC’s online management service you can get constant, secure access to your account so you can see your balance and latest tra§nsactions, make payments and easily oversee your finances from any internet-connected device.
  • Additional cards. If you need more than one card, HSBC can provide this so that you can easily add a partner or family members aged over 18 on your account.
  • Mobile Banking App. The mobile banking app is one more way you can stay on top of your finances. The app is a simple and secure way to see your latest transactions, make payments check you balance.
  • Global acceptance. HSBC’s cards are all provided with Visa or Mastercard so you can pay for items and take cash out in a huge number of countries throughout the world.
  • Round the clock assistance. With HSBC, you get 24/7 service from the customer service team, should you need it. You can call them at any time, day or night, from anywhere in the world and they will be able to help.

Opening an account with HSBC

To open an account with HSBC, you’ll have to provide the following information:

  • How much you expect to pay in each month
  • Your salary details and any assets you have
  • Your employer’s address and phone number
  • Your business account details if you’re self-employed
  • Your nationality/citizenship
  • Your residence status/tax residence status
  • Proof of identity (passport, driving license, EEA or Swiss national identity card)

You can open an HSBC account online or by visiting a branch.

Why should I compare current accounts anyway?

Your current account is probably your most commonly used account. You might as well find one that works well for you! Even if that just means making the most of switch incentives, then so be it.

Shopping around can be a good way to see the different accounts and offers out there. It’s also helpful to see the features which matter most to you. From interest rates (though they’re usually 0%) and overdrafts, to exclusive benefits or perks.

What about digital banking?

You’ll probably have heard of Monzo, Starling and Revolut. These newcomers are attempting to displace big banks like HSBC with slick apps, cool features, and transparent fees. To find out more head to our digital banking section. Here are a few of the best deals out there at the moment.

Data indicated here is updated regularly
Name Product Ratings Interest (AER) Arranged overdraft Key benefits Link Representative example
We say
You say
39.94% EAR variable
Interest and fee free overdraft
for first four months
Current account switch service guarantee badge
Up to 15% cashback at a range of major retailers
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 39.94% EAR variable.
Starling Bank
We say
You say
15% EAR variable
Seamless easy switching within 7 days
Current account switch service guarantee badge
No fees for spending or withdrawing cash overseas - currencies are converted at Mastercard’s standard exchange rate
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 15% EAR variable.
We say
Guaranteed acceptance plus a credit building feature
Account fee of £5.95 per month.
We say
Guaranteed acceptance
Current account switch service guarantee badge
Earn cashback on your purchases when you shop through the ThinkMoney rewards portal
Account fee of £10 per month or £15 per month.

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