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HSBC United Kingdom

Frequently asked questions

How do I manage my account?

You can only manage your account online via Personal Internet Banking (not via the branch or telephone).

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How can I view my transactions and balance?

You can only view statements online when you are logged onto Internet Banking.

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Will I earn interest if I make a withdrawal?

Yes, the standard rate of interest will be applied to the account. No bonus interest is paid on the whole balance for the entire calendar month that the withdrawal is made in. For example, if you withdraw some money on the 15th of the month, all bonus interest accrued for the period 1st-14th is deleted and no bonus interest will be earned on balances held in the account for the whole month. Bonus interest will start to accrue again on the 1st of the following month, unless you make a withdrawal on that calendar month.

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I didn't know I would miss out on bonus interest if I made a withdrawal. Can I claim back bonus interest on my Online Bonus Saver?

No, the Online Bonus Saver was designed to reward savers. The account pays interest plus bonus interest for each month you do not make a withdrawal. In a month where a withdrawal is made then no bonus interest is paid for that month only. The rules regarding withdrawals are made very clear online, on the application, in literature and in Terms and Conditions.

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Can I open a joint account?

No, you can only open a sole account. This is for your own security and protection. The account is opened and operated via Internet Banking, which authenticates you when you sign in with your security details. We're unable to authenticate multiple account holders in this way.

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Can I cancel my account?

For a period of 14 days after the account is opened you have the right to cancel the contract and close the account without charge. After 14 days we'll pay you standard interest (excluding bonus) up to the day the account closes.

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If I have an Online Saver account already can I have an Online Bonus Saver?

Yes you can as the Online Bonus Saver is a different product.

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How can I close my Online Saver and open an Online Bonus Saver?

You can close your Online Saver by sending us an email through My Messages on Internet Banking. You can open an Online Bonus Saver by selecting 'Apply now' from the Online Bonus Saver product page. Please note, once you've closed your Online Saver you can't re-open it.

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Do I lose any interest penalties if I move funds from my Online Saver to my Online Bonus Saver?

Yes, there would be no interest paid on your remaining funds in your Online Saver for the month of the withdrawal.

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What happens if the balance on my Online Bonus Saver exceeds £50,000?

A lower rate of interest is paid on balances above £50,000. Interest on the first £50,000 will still attract the higher rate.

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