HSBC Premier current account review
- Incentive
- Receive a £500 Selfridges gift card and a VIP shopping experience for accounts switched using the Current Account Switch Service.
- Account fee
- £0
- Interest (AER)
- 0% AER
- Overseas card transactions
- 2.75%
- Representative example
- Representative example: 0% EAR (variable) on the first £500, 39.9% EAR (variable) on anything above that, giving a representative annual percentage rate (APR) of 21.8% APR (variable). Based on an arranged overdraft of £1,200.
Our verdict
Learn more about how the HSBC Premier current account works to decide whether it suits your needs.
If you're looking for a packaged bank account, the HSBC Premier current account offers a variety of exclusive benefits without the monthly fee that often comes hand-in-hand with such accounts. However, the downside is that you will need to meet strict financial and eligibility criteria to apply.
Even if you meet the criteria, it's important to weigh up how valuable the benefits are to you before applying. For example, will you make use of the travel insurance benefit or do you already have cover elsewhere? Are the preferential mortgage and savings rates competitive or could you get a better deal by shopping around? The HSBC Premier account won't be right for everyone, so always do your research first. Visit HSBC's website to apply or compare other HSBC accounts here and premier accounts from other banks here.
Pros
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Access to HSBC Children’s Premier Account and Premier reward credit cards
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Worldwide travel insurance for you and your family
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Preferential mortgage and savings rates
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Interest-free overdraft up to £500
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No monthly fee
Cons
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Strict eligibility requirements
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Overdrafts over £500 incur interest
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No interest payable on in-credit balances
Details
Product overview
| Account name | Premier Bank Account |
| Incentive | Receive a £500 Selfridges gift card and a VIP shopping experience for accounts switched using the Current Account Switch Service. |
| Provider | HSBC |
| Account fee | £0 |
| Interest (AER) | 0% AER |
| ATM withdrawal limit | £1000 |
| Debit network | Visa |
| Card type | Cash / Debit |
| Minimum eligibility age | 18 Years |
| Minimum operating balance | £0 |
| Minimum opening balance | £0 |
| Direct debits | |
| Current account switch guarantee | |
| Cheque Book |
Fees
| Currency conversion withdrawal for overseas cash withdrawal in Europe (EEA) | 2.75% |
| Currency conversion withdrawal for overseas cash withdrawal in non-Europe (EEA) | 2.75% |
| Foreign cash transaction fee in Europe | £0 |
| Foreign cash transaction fee in rest of world | £0 |
Overdraft information
| Arranged overdraft available | |
| Arranged overdraft rate | 0% |
| Overdraft Grace Period | 23:45 same day |
| Representative example | Representative example: 0% EAR (variable) on the first £500, 39.9% EAR (variable) on anything above that, giving a representative annual percentage rate (APR) of 21.8% APR (variable). Based on an arranged overdraft of £1,200. |
HSBC is one of the world’s largest banking and financial services organisations. Serving more than 40 million customers through its global businesses, it offers a broad range of financial products, including current accounts. This review looks at the HSBC Premier current account in more detail.
What is the HSBC Premier current account?
The HSBC Premier current account offers a range of perks and benefits that can often be found with a packaged account. However, unlike most other packaged accounts, there is no monthly fee to pay. Instead you will need to meet certain financial and other eligibility criteria.
Those who qualify for the account will receive a Premier contactless Visa debit card and have the choice of 2 Premier credit cards that offer further rewards.
How does it work?
The HSBC Premier current account offers the following key features:
- Worldwide travel insurance from Aviva. For you and your family, including winter sports cover. You must be under the age of 70 when the trip begins.
- Preferential terms on mortgages and savings. Save money on your mortgage with preferential terms for you, your children and your grandchildren.
- Global accounts. If you have HSBC accounts in other countries, manage them all online and make fee-free transfers between them.
- Interest-free overdraft. Up to £500. After this, you’ll be charged 39.9% EAR.
- Premier credit cards. You’ll have exclusive access to a choice of 2 credit cards, both of which give you reward points when you spend and discounted airport lounge access.
- HSBC Premier financial advice. Access to financial advice to help you put important plans in place.
- Online health services. Including digital GP appointments, mental health support, and second opinions for you and your family, plus cancer bereavement cover.
- Emergency cash. If you lose your card or it gets stolen, you can collect up to $2,000 in emergency cash from any HSBC branch in the UK or abroad (providing you have funds in your account).
Who is the account for?
To qualify for the HSBC Premier current account, you must be at least 18 years old and meet one of the following eligibility criteria:
- Have an individual annual income of at least £100,000 paid into your account
- Have at least £100,000 in savings or investments with HSBC UK within 6 months of opening your account
- Hold and qualify for HSBC Premier in another country or region
What are the benefits?
As well as being able to enjoy benefits such as worldwide travel insurance and online health services, the HSBC Premier account gives account holders access to preferential mortgage and savings rates. Account holders can also take advantage of an interest-free overdraft of up to £500, plus exclusive rewards via a Premier credit card – all without the monthly fee.
Customer review scores
On the Apple App Store, the HSBC app has a score of 4.8 out of 5 from around 1.5 million reviews. Its score on the Google Play Store is 4.7 out of 5, from a smaller sample of just over 360,000 reviews. These were checked in June 2025.
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