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HSBC Advance Bank Account

Easy everyday banking with exclusive benefits and rewards

Overdraft support: You can apply for temporary arranged overdraft support on your account(s) for 3 months if you’re experiencing financial difficulty, or reasonably expect to. You have until 31 October 2020 to apply for this support.

 

You can use our coronavirus overdraft calculator to work out how much an arranged overdraft could cost you with this support in place.

 

These temporary measures do not change the terms and conditions of our overdrafts, or current accounts. New customers with eligible accounts can also benefit from these support measures.

Advance current account

Get more from your current account

With an Advance Bank Account you get everything you need for everyday banking and lots more. Like money-saving offers. A minimum arranged overdraft offer of £1,000. And no monthly fees.

 

Plus, to top things off, you’ll also get access to the best savings rate we offer. T&Cs apply. 2

To be eligible for HSBC Advance, customers will need to pay in a minimum of £1,750 per month or £10,500 over 6 months.

£125 cash when you switch

To claim your reward, open an HSBC Advance Account as a new customer. Then use the Current Account Switch Service within 30 days to complete a full switch with at least 2 Direct Debits or standing orders. T&Cs apply. 

How to apply
Current Account Switch Guarantee logo

If you're an existing customer with an overdraft, you can log on to online banking and manage your current arranged limit.

At a glance

  • Deal with unexpected expenses
    You’ll get an arranged overdraft of at least £1,000 when you open your account – a handy little safety net.1
  • Get it all for no monthly fee
    Unlike with some current accounts, there’s no monthly fee to pay for your Advance Account.
  • Earn 2.75% AER8/gross on your savings
    Build up your savings pot with our Regular Saver. You can save between £25-£250 each month and earn 2.75% AER/gross.2
  • Emergency cash if you need it
    Lost your card? You can get up to £10,000 emergency cash sent to any HSBC branch in the UK or abroad. You must have available funds in your account.
  • Fee-free international transfers
    We won’t charge you any fees when you send money between your HSBC accounts anywhere in the world using Global View – available through online and mobile banking.
  • Help setting up accounts abroad
    If you ever decide to move, study, work or retire abroad, we'll help you get ready for your new adventure. As an Advance customer you’ll get 50% off the price of opening an account outside the UK. We can also arrange to transfer your HSBC credit history to more than 35 countries – making it easier to get credit abroad. Please note: credit history transfers are subject to availability. Overseas account opening.
  • ATM withdrawal limits
    You can withdraw up to £500 a day with your Advance contactless Visa debit card. You may be charged by some ATM operators for withdrawals from their ATMs. You'll always be told of this before you make your withdrawal. You can use any HSBC ATM in the UK free of charge.

Easy mobile banking

Controlling your finances is simple with our Mobile Banking app.3 Make payments, pay in cheques with a photo, block or unblock your card. You can do it all in moments.

Exclusive offers

Access worldwide offers and discounts on everything from savings on clothing to exciting days out. We’re constantly updating our offers, so they may vary as new ones come in. 

Things you should know

Charges and overdrafts 

Overdrafts and unarranged overdrafts

An overdraft lets you borrow money on your current account. An arranged overdraft is where we agree an overdraft limit with you. This can help in months when you have extra expenses. 

An unarranged overdraft is when you make a payment that takes your account over your arranged limit or overdrawn when you don’t have an arranged overdraft in place.

We’ll always consider an unarranged request and make the payment if we can. Unarranged overdrafts may result in declined transactions. We report account activity, including overdraft usage, to credit reference agencies. An unarranged overdraft lasting more than 30 days could have a negative impact on your credit rating.

Overdrafts are not suitable for long-term borrowing and usually result in interest.

If you take an arranged overdraft, you can later ask us to increase, reduce or remove your limit at any time online, by phone or in a branch. 

If you end your overdraft you’ll have to repay any overdrawn amount and any interest owed. If you want to reduce your limit, you’ll first need to make sure you bring your borrowing down within the new limit.

To find out more, visit our overdrafts page where you can find out if you’re eligible and overdraft cost calculator.

Overdraft charges

When you open your account you can get an arranged overdraft limit of at least £1,000. 

The first £25 is interest free. Anything you borrow above that but within your arranged or unarranged overdraft limit will be charged interest at 39.9% EAR7.

The monthly cap on unarranged overdraft interest is £20.

We have some tools to help you avoid going over your arranged overdraft. As long as you've given us your mobile number, we'll send you a text alert if a payment is going to take you into an unarranged overdraft. We'll also send you a text alert if there isn’t enough money available in your account to make a payment.

Representative example: 0% EAR variable on the first £25, 39.9% EAR variable on anything above that, giving a representative rate of 38.9% APR variable (assumed arranged overdraft £1,200).

Overdraft text alerts

We’ll send you overdraft text alerts if you’ve used or are due to use an arranged or unarranged overdraft on your account. This is to help you monitor your usage and let you know what action you can take to avoid interest.

If you don't provide your mobile number or let us know when you've changed it, we won't be able to send you these text alerts.

You can opt out of the arranged or unarranged texts at any time by phone, or by going into a branch.

Opting out of alerts may mean you incur avoidable costs. If you choose to opt out of text alerts, this will apply to all personal current accounts you hold with HSBC UK.

Charges for using your debit card abroad

If you pay for something or withdraw money using your HSBC Visa debit card while you're outside the UK, you'll need to pay a 'non-sterling transaction fee' of 2.75%. So, for example, if you spent or took out £100, you'd be charged a fee of £2.75.

Any transactions you make will be converted into pound sterling (unless you choose to pay in local currency). To make sure your exchange rate is as competitive as possible, you’ll have to pay the exchange rate set by Visa. 

More about using your card abroad

Who can apply?

You can apply for an Advance Bank Account if you:

  • qualify for a minimum £1,000 arranged overdraft
  • can pay in £1,750 or more each month (or at least £10,500 every 6 months)5
  • are 18 or older and live in the UK or EU
  • are happy for us to do a credit check against your name (if you live in the UK)

Once you qualify for an Advance Bank Account, you can set your arranged overdraft to any amount up to the maximum limit offered.

Non-EU tax residents eligibility information 

Apply now

Please make sure you read the important information in the 'Things you should know' section before applying.

New to HSBC?

Apply for your account online in minutes.

Already a customer?

If you're already an HSBC customer, you can apply in one of our branches.

Other ways to apply 

Already have a current account?

Find out how to make your current account work harder. Access discounts, overdrafts, and savings accounts with preferential rates. There’s something for everyone. 

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How to switch current accounts

 

Switching your account is easy and secure. Find out how it works.

Additional information 

1. Subject to status and account conduct. Back to 'At a glance'

2. The fixed rate of 2.75% AER/gross over 12 months is available to HSBC Advance customers, who open a new Regular Saver account. Save between £25 and £250 per month by standing order from your HSBC Advance Bank Account for a fixed term of 12 months. If you do not save £250 in any given month you can carry over any unused subscription to following months. Interest is calculated on the daily cleared balance on your 'Regular Saver and we will pay this to your Regular Saver on the anniversary of the date your account was opened. For example, if you saved £250 every month for 12 months a total of £3000 will be paid in to your account during the 12 month term. At 2.75% you would earn approximately £44 interest (gross). Partial withdrawals are not allowed during the 12 month term. If you close your Regular Saver before the anniversary, we will pay interest at the same rate as we would apply to an equivalent amount held in a Flexible Saver. You can only hold one Regular Saver at any given time. AER stands for Annual Equivalent Rate. This shows you what the gross rate would be if interest were paid and compounded each year. All credit interest will be paid gross. Gross is the rate of interest if interest were paid and not compounded each year. Back to 'At a glance'

3. Our mobile banking app is currently available on iPhones and iPads with an operating system of iOS 10.3 or higher and Android devices with an operating system of 5.0 or higher. Back to 'Take a closer look'

4. Our telephone, online and mobile banking services are open 24 hours a day subject to scheduled maintenance periods. During busy periods calls may be transferred outside the UK. Textphone is not available in the Channel Islands and Isle of Man. To help us continually improve our service, and in the interests of security, we may monitor and/or record your calls with us. Back to 'Take a closer look'

5. This can't be money you've transferred from another HSBC UK personal account. Back to 'Who can apply?'

6. Subject to status and account conduct. Back to 'Existing customers'

7. EAR (Effective Annual Rate) takes account of the interest rate, the compounding of interest and how often interest is charged. It doesn’t include any other fees or charges.

8. APR (Annual Percentage Rate) is the rate at which someone who is borrowing money is charged, calculated over a period of 12 months. It takes into account not just the interest, but also any other charges that may have to be paid and any interest-free amount.

It’s easy to get in touch online. Talk to us directly through our chat channels.