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HSBC Premier Bank Account

A premium account with no monthly account fee

Overdraft support: From 9 April for 3 months, we’re supporting our overdraft customers with some temporary measures. Find out all you need to know about costs, charges and how to apply on our overdraft support page.

 

While these measures are in place, you can use our coronavirus overdraft calculator to work out overdraft charges until 9 July 2020.

HSBC Premier Debit Card

More than just a bank account

Discover a current account that’s created for your constantly changing world. An account that helps you make the most of life – with complimentary worldwide travel insurance, family benefits, a choice of exclusive credit cards and more.
You’ll need to meet certain financial and other eligibility criteria to apply for an HSBC Premier Bank Account.

Important information: HSBC Premier, Advance and Bank account switching offers

We’re sorry but we’ve had to end our switching offer earlier than planned. This is to allow us to focus on supporting our customers affected by the coronavirus outbreak. We aim to offer switching incentives in the future once we’re in a position to do so.

Current Account Switch Guarantee logo

Travel insurance is designed to cover for unforeseen events. Because of rolling, global media coverage, from 17 March coronavirus is now a known event. This means you will not be covered for any claim relating to the current global crisis COVID 19. For further information you should refer to your policy wording (specifically page 18 clause 13).

At a glance

  • Relax with free annual travel cover
    Enjoy free worldwide travel insurance from Aviva for you and your loved ones, including winter sports cover. T&Cs apply. 1
  • Enjoy preferential terms on mortgages and savings
    Save money on your mortgage with preferential terms for you, your children and grandchildren. Plus, earn 0.20% AER/tax-free on your savings with a preferential rate on our Loyalty Cash ISA.
  • Stay on top of your global accounts
    If you have HSBC accounts in other countries you can manage them all online, plus you can make fee-free transfers between them in minutes.
  • The first £500 of your arranged overdraft is interest-free, and it’s 39.9% EAR above that. Overdrafts are subject to status.

     

    Representative example: 0% EAR variable on the first £500, 39.9% EAR variable on anything above that, giving a representative rate of 21.8% APR4 variable (assumed arranged overdraft £1,200).

  • Get it all for no monthly fee
    Experience all the benefits of a premium account without having to pay for the pleasure.

Explore more

Premier credit cards

Discover a world of travel benefits and rewards. As a Premier customer you’ll have exclusive access to a choice of 2 credit cards, both of which give you reward points when you spend, discounted airport lounge access – and more besides.

Representative example: 59.3% APR (variable) representative on an assumed credit limit of £1,200.

Explore Premier credit cards

Exclusive benefits for your family

Your Premier account gives your loved ones access to a wealth of benefits, too. Your complimentary travel insurance covers your partner, children and grandchildren. You, your children and any grandchildren will also have access to preferential mortgage terms. And that’s not all.

Explore family benefits

 

Support for you

Our team of experts are there to help you to manage your banking and finances. Our aim is to meet your personal needs so you can make the most of HSBC Premier. You can also get HSBC Premier Financial Advice to help you make the right choices when planning for the future. Fees and eligibility criteria also apply for our financial advice service.

Things you should know

Arranged 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 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

If you have an arranged overdraft, the first £500 is interest free. Anything you borrow above that will be charged interest at 39.9% EAR variable. 2

If you go into an unarranged overdraft, the amount you borrow will be charged at 39.9% EAR variable.

Representative example: 0% EAR variable on the first £500, 39.9% EAR variable on anything above that, giving a representative rate of 21.8% APR variable (assumed arranged overdraft £1,200).

At present you don’t have to pay any monthly charges for using your Premier Bank Account overdraft, even if you go above your arranged overdraft limit.

Overdrafts are subject to status.

Overdrafts text alerts

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 or withdraw money 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 or took out £100, you'd be charged a fee of £2.75.

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?

HSBC Premier is available to you if you pay your annual income into your HSBC Premier Bank Account and meet 1 of the following eligibility criteria:

1. Income and product

Have an individual annual income of at least £75,000 and 1 of the following with HSBC UK: a mortgage, an investment, life insurance or a protection product.

2. Savings or investments

Have savings or investments of at least £50,000 with HSBC UK, within 6 months of opening your account.

3. International Premier

Hold and qualify for HSBC Premier in another country.

Apply now

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

Services in our branches and contact centres are currently limited because of the coronavirus outbreak. Unfortunately we are unable to offer new products in branches or contact centres, or set up appointments at the moment.

If you’ve applied for a new account online recently, please allow extra time for your application to be processed as the queues are longer than usual – no need to call us, we’ll let you know when it’s ready to use.

We’re also receiving far more calls than usual, so our wait times are longer. Please  check the information on our dedicated coronavirus hub page, which is updated regularly. Please only call us if it’s urgent, so we can help those most in need. 

New to HSBC?

Apply for your account online in minutes.

If you’d like a joint account, please apply in one of our branches or by phone.

Already a customer?

If you’re already an HSBC customer, you can apply in one of our branches or by phone. 

If you’re a Premier customer in another country, please speak to your Premier Manager or your local branch to apply for an account.

Existing customers

 

Planning a trip? Take a look at what’s covered by your complimentary travel cover

 

Find out how to apply for a new overdraft or manage your current overdraft limit.

 

Account all set up? Find out how to activate your card.

 

Safe and convenient, your HSBC debit card is the ideal travel companion.

You might also be interested in

 

A full life just got even fuller.

 

Earn points when you spend, which you can redeem for air miles, retail vouchers and more.

 

Not sure if a Premier Account is for you? Compare all our current accounts.

1. Premier Worldwide Travel Insurance is provided by Aviva and is available to Premier account holders. You must be under 70 years of age when the trip begins. Children/grandchildren must be under 18 when the trip begins (or under 23 if in full-time education). See full eligibility criteria

2. EAR means 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. Back to 'Charges and overdrafts'

3. This offer is available to all HSBC UK current account customers. One British Cycling Fan membership per customer, with the ability to upgrade to other membership options for an additional cost. You must activate your membership by 31 December 2019. Terms and conditions apply. Back to 'Other account information'

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. Back to 'Charges and overdrafts'

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