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HSBC Advance Bank Account

Easy everyday banking, plus added benefits and rewards

Have £170 on us when you switch

To claim your bonus, open an HSBC Advance Account and start your switch within 30 days using the Current Account Switch Service. You'll also need to pay in £1,500+ within the first 60 days and switch 2+ Direct Debits or standing orders.

New customers only. T&Cs and other eligibility criteria apply.1

Get more from your current account

With our HSBC Advance Account, you get everything you need for everyday banking and much more. Like money-saving offers. Access to the best savings rate we offer. And no monthly account fee.

  • To apply, you'll need to be 18+, live in the UK or EU and qualify for an optional arranged overdraft of at least £1,000.

HSBC Advance Account Debit Card image and Current Account Switch Guarantee logo

Here's what you get with your Advance Account

Freedom to bank the way you want

Bank online, by phone, in-branch or with our app. Whichever you prefer, we’ve got you covered.2

Contactless payments

Pay on the go with Apple Pay, Samsung Pay, Google Pay or your contactless Visa debit card. Limits may apply.3

An optional arranged overdraft

You'll get a minimum arranged overdraft offer of £1,000 when you open your account. Learn more.

Get an app you can bank on

If you always carry your phone, you can always carry your bank. Secure, convenient and in your pocket.

  • Check your balance in a flash and send money quickly and easily

  • Pay in cheques just by scanning them with your phone

  • See all your HSBC products in one place, including mortgages and loans

Stay informed and in control

Our smart money tools help you keep an eye on your spending and stay on top of your finances.

  • Get instant notifications when money goes in or out of your account3

  • Budget more easily by seeing how much money you’ll have left after your bills

  • Freeze your card temporarily in our app if you can't find it

Enjoy a little more from your money

You’ve worked hard for your money. When you have an Advance Account, we'll help you make it go further.

  • Start building your savings with our Regular Saver Account, exclusively available to HSBC current account customers

  • Enjoy money off at the likes of Costa Coffee, ASOS and Not On The High Street with our home&Away offers programme

Get £117 cashback on Select and Cover

Get 6 months' cashback on the first 3 covers when you buy Select and Cover within 60 days of joining HSBC Advance.

Apply for Advance by 5 July 2022. Only available to new online customers. Eligibility criteria and T&Cs (PDF, 93KB) apply. 

Things to know before you apply

Ready to apply? Please read the following before applying for your account below.

About your optional arranged overdraft

When you open this account, you'll have the option to take out an arranged overdraft.

An arranged overdraft allows you to borrow money (up to an agreed limit) if there’s no money left in your account. This can be useful if you're hit with an unexpected bill, for example.

If a payment would take you past your arranged limit (or if you don’t have one), we may let you borrow using an unarranged overdraft. There's a chance that payments you try to make using an unarranged overdraft may be declined. However, we'll always try to allow essential payments if we can. Using an unarranged overdraft for more than 30 days can harm your credit score.

You can apply for an arranged overdraft when you open your account, or at any time later. You can ask to increase, remove or reduce your limit at any time in online or mobile banking, by phone or in-branch. Your new limit can't be less than what you owe.

Overdrafts are designed for short-term borrowing only, and are subject to status.

Overdraft text alerts

If we’ve got your mobile number, we’ll send you an SMS text alert if you’ve gone overdrawn or we know you’re about to. These alerts are designed to help you manage your overdraft usage and avoid being charged interest.

You can opt out of overdraft text alerts by calling us or asking us in-branch – but remember you’ll be opting out for all your current accounts with us. If you opt out or we don’t have an up-to-date number for you, you could end up paying interest you might otherwise have avoided.

How does our overdraft compare?

You can compare our overdrafts with other ways of borrowing by looking at the representative annual percentage rate (APR). The Representative APR is the cost of borrowing over a year and lets you compare the costs with other credit products.

This account comes with a £25 interest-free buffer. If you go overdrawn by more than that, you'll need to pay interest on the amount you borrow at the rate shown below.

Representative example: 0% EAR (variable)5 on the first £25, 39.9% EAR (variable) on anything above that, giving a representative rate of 38.9% APR (variable)6. Based on an arranged overdraft of £1,200.

The monthly cap on unarranged overdraft charges for the Advance account is £20. Further details can be found online at our overdrafts page.

Who can apply?

Apply for your HSBC Advance Account now

Apply online

Apply for your account online in minutes. We’re busier than usual at the moment, so it may take longer to process your application. No need to contact us – we'll be in touch soon.

Apply in branch

It's usually quickest to apply online, but if you're having trouble with your application, we're here to help - just head to our contact us page.

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The small print

1. Receive £170 when you switch to an HSBC Advance Account using the Current Account Switch Service (including 2+ Direct Debits or standing orders). You'll need to start your switch within 30 days of account opening and pay in at least £1,500 within the first 60 days. To be eligible, you can't have had an HSBC current account or opened a First Direct current account since 1 January 2019. Once you meet all our eligibility criteria we’ll pay £170 into your account within 30 days. Offer may be withdrawn at any time. Terms and conditions and other eligibility criteria apply. Full offer terms and conditions (PDF, 176 KB)

2. Our mobile banking app is currently available on iPhones and iPads running on iOS 12 or higher and Android devices with an operating system of 5.0 or higher.  

3. Apple Pay is a trademark of Apple Inc., registered in the U.S. and other countries. Google Pay is a trademark of Google LLC. Samsung Pay is a registered trademark of Samsung Electronics Co., Ltd.

4. You'll need to opt in to receive instant notifications. You can do this in our app. This feature is currently being rolled out and may not be available on all devices.

5. EAR stands for effective annual rate. This is how all UK banks must show interest rates on their overdrafts, to make it easier for you to compare one bank’s overdraft with another. Please note that it doesn’t include any fees you might be charged in addition to interest.

6. APR stands for annual percentage rate. This 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 you may have to pay, as well as any interest-free amount.

It's easy to answer your query online. Visit our Help page to find out how.