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HSBC Graduate Bank Account

A flexible account for post-university life

HSBC debit card

Wherever life after university leads you

In the middle of all this change, one thing you don’t want to worry about is banking. That’s why our Graduate Bank Account offers you benefits, rates and services designed to make the move from study to a career that much easier.

To be eligible, you'll need to provide proof that you're a recent graduate.

Open an account today

Eligibility and how to apply
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At a glance

  • Apply for an arranged overdraft

    An arranged overdraft up to £3,000 interest-free in your first year after graduation.1

  • Earn more on your savings

    Enjoy an attractive savings rate with a Regular Saver account, one of our highest earning savings accounts.

  • Manage your accounts on the go

    Access your money 24/7 through online, mobile and phone banking.2

  • Set up text alerts

    Keep track of your account balance and large withdrawals and deposits.

  • Pay your mates quickly and easily with Paym

    You just need their number and our Mobile Banking app.

  • Get a Visa debit card

    Withdraw up to £300 a day and make contactless payments.

Overdraft representative example

Representative example (assumed arranged overdraft of £1,200): Year 1: 0% on the first £3,000, 39.9% EAR3 variable on anything above that, giving a representative rate of 0%  APR variable.

You can compare our overdrafts with other ways of borrowing by looking at the Annual Percentage Rate (APR). APR is the cost of borrowing over a year and lets you compare the costs with other credit products.

For further help and support on managing your finances and overdraft, visit our Students guide.

What else is included?

Access to savings accounts

Build up a nice little nest egg. As a Graduate Account customer you can open a Regular Saver and Loyalty ISA. So as well as working for your future, you can save for it too.

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 use our overdraft cost calculator.

Overdraft charges after you graduate

If you have an HSBC Student Bank Account, your account will change to an HSBC Graduate Bank Account at the end of your third year. We’ll then ask you to start paying back your arranged overdraft, reducing it each year, giving you time to pay it back after graduation.

In the first year after graduation, you may be eligible for an interest-free overdraft facility up to £3,000, and up to £2,000 in your second year after graduation. In your third year after graduation, we’ll move you to an Advance account or standard bank account. You may be eligible for an arranged overdraft of up to £1,000 interest-free to help make life easier (subject to status and how your account has been used).

Any arranged overdraft above these amounts will be charged interest at 39.9% EAR variable.

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

Representative example (assumed arranged overdraft of £1,200): Year 1: 0% EAR on the first £3,000, 39.9% EAR variable on anything above that, giving a representative rate of 0% APR4 variable.  Year 2: 0% on the first £2,000, 39.9% EAR variable thereafter, giving a representative rate of 0% APR variable.

Overdraft text alerts

If you’re going to go overdrawn, we provide a couple of tools to help make sure you know about it.

If you try to make a withdrawal at any HSBC cash machine that would take you over your arranged overdraft limit, you'll get an on-screen alert to let you know how much money you have available to withdraw.

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 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 £100, you'd be charged a fee of £2.75.

If you withdraw money from an ATM, you’ll also need to pay a ‘cash fee’ of 2% (minimum £1.75, maximum £5) as well as the non-sterling transaction fee. So if you took out £100, you’d be charged a total of £4.75.

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 pay the exchange rate set by Visa. 

More about using your card abroad

Who can apply?

You can apply for a Graduate Bank Account if you:

  • are 18 years or older
  • have graduated in the UK within the last 2 years
  • have been a resident in the UK, Channel Islands or Isle of Man for the last 3 years
  • are happy for us to do a credit check against your name (if you live in the UK)

How to apply

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

Apply in branch

To apply for a Graduate Bank Account, please visit one of our branches. You'll need to bring the following with you so that we can open your account:

  • proof of graduation (eg a graduation certificate or a letter or email from your university or college), including the date you graduated
  • ID, proof of address

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. 

You might be interested in

Regular Saver

 

Put some money aside and watch it grow with our top savings rate.

Credit cards

 

Spread the cost of spending, transfer a balance or earn cashback or reward points.

Understanding your overdraft

 

If your overdraft is calling you, make sure you know how it works first.

Additional information 

1. Representative Example (assumed arranged overdraft of £1,200): Year 1: 0% EAR on the first £3,000, 39.9% EAR variable on anything above that, giving a representative rate of 0% APR variable.  Year 2: 0% on the first £2,000, 39.9% EAR variable thereafter, giving a representative rate of 0% APR variable. Back to 'At a glance'

2. Our telephone, online and mobile banking services are open 24 hours a day subject to scheduled maintenance periods. To help us offer the best service, we may monitor and/or record your calls with us. Back to 'At a glance'

3. 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.

4. 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 answer your query online. Visit our Help page to find out how.