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.
Open an account today
It’s quick and easy to apply online.
At a glance
- Earn more on your savingsEnjoy an attractive savings rate with a Regular Saver account, one of our highest earning savings accounts.
- Manage your accounts on the goAccess your money 24/7 through online, mobile and phone banking. 2
What else is included?
- Set up text alertsKeep track of your account balance and large withdrawals and deposits.
- Pay your mates quickly and easily with PaymYou just need their number and our Mobile Banking app.
- Get a Visa debit cardWithdraw up to £300 a day and make contactless payments.
Access to savings accounts
Things you should know
Charges and overdrafts
Overdrafts and unarranged overdrafts
From 9th November 2020, we’re changing our Graduate Bank Account overdraft limits to offer extended financial support following graduation.
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.
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 after you graduate
You may be eligible for an overdraft facility, of which £1,500 will be interest-free during your first year and £1,000 in your second year after graduation (subject to status and how your account has been used).
Any arranged overdraft above these amounts will be charged interest at 39.9% EAR3 variable.
Representative example (assumed arranged overdraft of £1,200): Year 1: 0% EAR on the first £1,500, 39.9% EAR variable on anything above that, giving a representative rate of 0% APR4 variable. Year 2: 0% on the first £1,000, 39.9% EAR variable thereafter, giving a representative rate of 5.8% 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 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.
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.
Important account documents
Who can apply?
You can apply for a Graduate Bank Account if you:
- are 18 years or older
- have graduated from university within the last 2 years
- can provide proof you're a graduate, such as a graduation certificate
- can provide ID, proof of your address and 1 month's bank statements from your current bank
- are happy for us to do a credit check against your name (if you live in the UK)
How to apply
Apply for an account online in 15 minutes.
Apply in branch
It's often quicker to apply online, but we're still here in branch or over the phone for those who need our support the most.
Book an appointment to apply in branch.
You might be interested in
1. Representative Example (assumed arranged overdraft of £1,200): Year 1: 0% EAR on the first £1,500, 39.9% EAR variable on anything above that, giving a representative rate of 0% APR variable. Year 2: 0% on the first £1,000, 39.9% EAR variable thereafter, giving a representative rate of 5.8% APR variable. Back to 'At at 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 at glance'
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.