Pay Monthly Bank Account

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 incur higher fees and 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 and other fees.

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.

With Bank Account Pay Monthly, just like many of our other bank accounts, you can ask us to approve an arranged overdraft facility. 

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 and fees.

If you don't provide your UK 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.

Whether you have an arranged overdraft limit or not you'll be given a £50 'buffer' to help cover short term emergency borrowing. So you know where you stand, we won't agree to any payment requests that would take you over your arranged limit and the £50 buffer, and with Bank Account Pay Monthly we won't charge you any arranged overdraft fees. Representative Example: 19.9% EAR variable (assumed arranged overdraft £1,200).

Bank Account Pay Monthly customers can enjoy a 2.75% AER/gross fixed rate for 12 months with our Regular Saver. Interest is calculated on the daily cleared balance and paid on the anniversary of account opening. You can save from as little as £25 up to a maximum of £250 a month and a maximum of £3000 by month 12. If you save less than £250 in any given month, you can carry over any unused subscription to the following months.

For example: if you invest £250 a month, you will save the maximum balance of £3000 during the 12 month term. At 2.75% interest you will earn approximately £44 interest (gross).

Please note, only one Regular Saver account allowed per customer and payments must be made by standing order. Once the account is open, no withdrawals are allowed within 12 months. At the end of 12 months, the account balance will be transferred into a Flexible Saver, Preferential Flexible Saver or HSBC Savings account. If you close your account before the end of the 12 month term, you will receive interest at our Flexible Saver rate.

More on our Regular Saver or see our range of savings products.

AER: Annual Equivalent Rate. This is a notional rate which illustrates what the Gross rate would be if interest were paid and compounded each year.

Gross: is the rate of interest if interest were paid and not compounded each year.

Use your card and PIN in shops, restaurants and online, and withdraw your money from any cash machine in the UK¹ - up to £300 a day. Get up to £100 cashback at outlets nationwide when you pay with your HSBC Debit Card.

You can also use your card to withdraw local currency at cash machines worldwide and pay for goods and services worldwide wherever you see the VISA logo shown on your card. A Non-sterling transaction fee of 2.75% of the exchange rate will apply on conversion, plus an ATM transaction fee - currently 2% (minimum £1.75, maximum £5.00)².

Before you travel, please logon or call to tell us you will be using your cards abroad and ensure we hold your up to date contact details, including a mobile telephone number if available

Read more about support for the HSBC Debit Card.

With online banking you can check your balance, see your statements and pay your bills and much more. Online banking facilities are available 24/7 subject to planned maintenance periods. More on online banking.

Manage your money on the move and access your personal accounts easily and securely with our mobile banking app. Set up Fast Balance through the app for a quick and easy way to view your current account balance and last 6 transactions.

Get a balance enquiry, make credit card payments, obtain transaction details and transfer cash between accounts at any time, day or night, with our automated service. And if you have a query, our Customer Service Representatives are available on 03457 404 404 from 8am to 8pm every day. From outside the UK +44 1226 261 010. Calls may be monitored and/or recorded.

Once you've set up your account you'll automatically be sent monthly statements. Once you register for online banking, you'll then have the option to switch off your paper statements and receive them electronically instead.

You can choose to set up regular payments to pay bills by Direct Debit and standing order and make payments to friends and family, either online or over the phone, making it easy to manage your money.

¹ Cash machines: Some cash machine owners in the UK may charge you for withdrawals. This will be shown on screen with an option to cancel the withdrawal if you want.

² Using your Debit Card abroad: The exchange rate that applies to any foreign currency debit card payments (including cash withdrawals) is the Visa scheme exchange rate used by VISA on the day the conversion is made plus a Non-sterling transaction fee, which is currently 2.75% of the transaction amount (and for cash withdrawals  a Cash Fee of 2% of the cash withdrawal (minimum: £1.75, maximum: £5)). We will make the conversion and deduct the payment from your account once we receive details of the payment from VISA, at the latest the next working day. Details of the current Visa scheme exchange rates are available at www.visaeurope.com.

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. 

We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee.

• The service is free to use and you can choose and agree your switch date with us.
• We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary).
• If you have money in your old account, we will transfer it to your new account on your switch date.
• We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
• If there are any issues in making the switch, we will contact you before your switch date.
• If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure.

More on the Current Account Switch Service.

For more information go to www.simplerworld.co.uk.

Order commission-free foreign currency on amounts between £100 and £2,500.

For your convenience we have Euros and Dollars in over 650 of our branches, plus cash in up to 67 currencies available for next day delivery.

Order online, in branch or by telephone. Call 0800 032 4700. Lines are open 8am – 10pm every day except Christmas Day, Boxing Day and New Year's Day.

We can give you tips on making the most of your money. And if you're having trouble paying your bills, we can help you work out what to do. More on help with your finances.