Finder rating
★★★★★
Expert analysis
Customer rating
★★★★★
Satisfaction survey
You get the peace of mind of a big bank with branch access
Fees for card spending and cash withdrawals abroad
HSBC current accounts for January 2023
HSBC offers a full range of current accounts, with the benefits that come with a big bank. Plus there are switching perks.
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 offers some decent switching perks from time to time. HSBC has been known to offer a tempting bonus to new customers who open an Advance Bank Account. This is a regular promotion to keep an eye out when you decide to switch accounts.
Compare HSBC’s current accounts
1 - 7 of 8
Types of current account 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 has you covered.
Reward and incentive accounts
HSBC offers a £125 payment for switching to its Advance Bank Account from time to time. 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 accountsPremium 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 stacks up against the rest of the market by comparing them.
Learn more about premium current accountsStudent 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 accountsGraduate accounts
HSBC offers 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 accountsChildren’s accounts
HSBC’s MyAccount Children’s Bank Account is designed to help children aged 11-17 to manage their money.
Learn more about children’s accountsBusiness accounts
HSBC offers two business accounts for small businesses, including start-ups, as well as a business bank account for larger businesses with specialist banking requirements. You can also choose from a foreign currency business account if you trade overseas, a client currency account to protect your client’s money, a charitable bank account with reduced cost for charities and not-for-profit organisations, and a corporate account for corporate banking customers with a turnover greater than £10m.
Learn more about business accounts
Pros and cons of banking with HSBC
- Rewards. 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 transactions, 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.
- Poor overdraft score. An independent survey of service quality commissioned by the Competition and Markets Authority showed that only 54% of HSBC customers would recommend the bank based on its overdraft services (Last updated: March 2022).
- Limited digital features. There is a limited set of things you can do via online banking and mobile app to manage your account.
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
- Your National Insurance number
- Proof of identity (passport, driving licence, 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.
Our verdict
HSBC has an eye-catching switching bonus and customers in our survey gave it a pretty good 4-star rating for overall satisfaction. If you’re after a basic, solid account, this is a good choice. But if you want more advanced digital features, the challengers are worth considering. If HSBC’s current accounts are not for you, you can also compare other current accounts here.
Frequently asked questions
Banking ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
The customer satisfaction score ("Customers say") is based on a survey of 2,944 customers carried out in December 2022.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.
More guides on Finder
-
How to open a new savings account
Learn more about opening a savings account with our guide.
-
Flexible ISAs: What they are and how they work
Learn more about how flexible ISAs work.
-
Compare 2-year fixed rate cash ISAs
Find out more about the pros and cons of 2-year fixed rate cash ISAs
-
Kuda money app review
We take a detailed look at the Kuda money app to see how it works.
-
Volopa review
Is Volopa’s business payments platform right for your business? We take a closer look at Volopa’s business solutions.
-
Best ISAs for 2023
Discover the key differences between a cash ISA and a stocks & shares ISA and which option is right for you.
-
How to buy Nestlé (NESN) shares in the UK
Learn more about Nestlé’s recent performance and where you can invest in Nestlé shares. We also run through some helpful rules of thumb for any investor
-
Christmas spending in the UK set to drop by more than £5.5 billion in 2022 as cost of living crisis bites
This latest research explores how much the UK is set to spend on Christmas in 2022, and how much Brit’s spend on unwanted gifts.
-
5 assets investors are buying in the dip: From commodities to ETFs
Markets have taken a hit in 2022. We share which assets are popular in the recent market pull-back. Created in collaboration with eToro
-
Over half of Brits plan to make a New Year’s resolution in 2023, with health and money leading the way
Over half of Brits plan to make a New Year’s resolution in 2023