HSBC Bank Account

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. 

You can apply for an arranged overdraft when you open your account (if you apply online), 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.

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.

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.

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

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.

Representative example: 0% EAR (variable)[@ear-explanation] on the first £25, 39.9% EAR (variable) on anything above that, giving a representative annual percentage rate (APR) of 38.9% APR (variable)[@apr-explanation]. Based on an arranged overdraft of £1,200.

How does our overdraft compare? The representative APR shows the cost of borrowing over a year, so you can use it to compare the cost of our overdraft against other overdrafts and ways of borrowing.

The monthly cap on unarranged overdraft charges for the HSBC Bank Account is £20. Further details can be found online at our Overdrafts page.

To find out more, visit our Overdrafts page, where you can find out if you’re eligible for an arranged overdraft and use our overdraft cost calculator.

You may not be eligible for some account features if you remain resident outside the UK.

You can apply for an HSBC Bank Account if you:

• Are 18 or older
• Are happy for us to do a credit check against your name (if you're applying for a joint account and live in the UK)
• Can provide ID and proof of address if needed
• Have read the important account documents below

Not the right account for you? Find out how our Bank Account compares to other HSBC current accounts.

If you live in the UK you can also apply for a sole account online.