Our Overdraft Service isnotavailable on Basic Bank Account. In this guide, well run through everything you need to know about getting an HSBC debit card. If you have any further queries, or need help understanding your overdraft, please visit our FAQs. 50 interest free 'Buffer', HSBC Premier (retained Jade benefits) and Private Banking Account customers, going overdrawn when you have not arranged an overdraft; or, going over/past your arranged overdraft limit (if you have one), interest and fees for going over/past your arranged overdraft limit, fees for each payment your bank allows despite lack of funds; and, fees for each payment your bank refuses due to lack of funds. endobj HSBC Group | Copyright HSBC Group 2002-2022. See how much it could cost you to use a personal overdraft facility on your account. Concerned about your financial situation? Monthly cap on unarranged overdraft charges. HSBC adheres to the standards of lending practice guidelines. This calculation is based on the following assumptions: a)the amount borrowed is drawn down in full at noon on the date of calculation; b)you are overdrawn for a continuous period you dont dip in and out of your overdraft; c)at the time you go into your overdraft, the balance of your current account is 0; d)no other credits and or debits will be made from the account during the borrowing period; e)the outstanding balance will be repaid in full on the last day of the borrowing period; and f)the interest rate remains the same during the whole borrowing period. You can also apply for an optional arranged overdraft if you need it., As with the other accounts, the HSBC Bank Account also offers access to discounts and offers with the home&Away rewards programme., If you dont qualify for another current account (for example, if you have a low credit score or poor credit history), then the HSBC Basic Bank Account could be the ideal option., Youll get access to basic banking services, including mobile banking and a contactless HSBC Visa debit card. This means money taken out of your account. You can use the APR to compare the real costs of loans from a number of providers. 0000003313 00000 n Available to HSBC International Business Account customers. We provide information to help you review your monthly commitments,and let you knowwhere you can get free and impartial help if you ever need it. If youre finding it hard to manage your overdraft or financial situation in general, please get in touch. endobj 0000003553 00000 n With most of these, you can expect similar features such as: HSBCs debit cards use the Visa payment network, which is accepted worldwide. H You can also get free, impartial advice from a number of independent organisations, including: To apply for an arranged overdraft youll need to be 18 or over. We won't charge you more in unarranged overdraft interest than the maximum unarranged overdraft agreed in that charging month. For a truly international and low-cost way to spend worldwide, check out the Wise debit card. Are thereother products which offer better interest rates? Note: if you're already overdrawn, you can't reduce your limit to less than you've borrowed. 0000035599 00000 n Our overdraft text alerts help you avoid being charged overdraft interest. You can use Internet banking to view balances, statements and payment details - plus increase (subject to status), decrease or cancel your overdraft limit. It takes into account not just the interest, but also any other charges you may have to pay, as well as any interest-free amount. However, you wont be able to apply for overdrafts, credit cards or loans with this account., The HSBC Bank Account Pay Monthly is designed for people wanting a buffer for unarranged emergency borrowing. endobj endstream These are temporary measures and not a change to your current terms, which remain the same. Using an unarranged overdraft can have a negative impact on your credit rating. 0000005083 00000 n <>>> This cap covers any interest for going over/past your arranged overdraft limit. If you're a student, you may be able to access a 0% overdraft. Based on an assumed arranged overdraft of1,200for an HSBC Bank Account Pay Monthly, the rate is 0% EAR (variable) on the first 25,39.9%EAR (variable) thereafter, giving a representative rate of38.9%APR (variable). The maximum monthly charge in interest for going above your overdraft will be 20 per month. 0000006532 00000 n 715345 aeVWRVQPS451*56be4OC]Mn~]$XqJRdJ9yYEMm-DcxJtr WjUB Vh(+'_ TN;\R"hfYSUQ rk5J(V"]SCF43kQdnkam `3on$; {lT2)a 0000003398 00000 n Youll then be able to borrow up to that limit without any issues. Requesting this support does not automatically add a limit unless you already have an arranged overdraft on your account. 2.75% + extra fee of 2%. 129 0 obj You can find full information on getting a new card here on the HSBC website. If you need help with this form, pleasecontact usand well be happy to help. This may be part of your arranged overdraft. 0000030156 00000 n It takes into account not just the interest, but also any other charges that may have to be paid and any interest-free amount. This could negatively affect your credit file and your ability to get credit in the future. National Debtline (if youre self-employed). If you're not sure how much you'll need: please call us on03456 00 61 61 between 8am to 10pm or arrange a visit at your local branch so we can discuss it with you. Follow HSBC UK on Facebook This link will open in a new window, Follow HSBC UK on Twitter This link will open in a new window, Follow HSBC UK on YouTube This link will open in a new window, Our website doesn't support your browser so please upgrade. An unarranged overdraft is when your account goes overdrawn and you dont have an arranged overdraft, or you go over your arranged overdraft limit. These new alerts aim to help you manage your balance and will give you an opportunity to avoid any overdraft charges. *a((.((LJ,N0LAiDRH{q'X4/C C l406'T3;}myL;no,uAG/;+&V6J00(3Aa]. A2 7X2sa"v@qBsBK ICA&) endstream A Daily Overdraft Facility Fee applies. A list of banks in the Philippines, including more information on some of the biggest and most popular commercial banks in the country. With HSBC, these vary depending on which current account type you have. HSBC Group | Copyright HSBC Group 2002-2023. endobj best UK bank accounts for international students, HSBC - Advance account - Fee Information Document, Free (ATM operators may charge their own fee), Withdrawing cash overseas or in foreign currency, The option to use your card with digital wallets such as Apple Pay, Google Pay and Samsung Pay, Access to online banking and the HSBC mobile banking app, No monthly maintenance fees for current accounts. 0000030311 00000 n endobj Youll need to reduce your overdraft use. 151 0 obj Because of the coronavirus situation, were advising customers to apply for or manage their overdraft online at the moment, if you can. If you get this support and your arranged overdraft is less than 500,we won't charge interest on overdraft balances up to 500 for 12 months. trailer How much will the debt advisory agencies charge me? Many banks, including HSBC, can withdraw your overdraft and request repayment at any point, so its crucial not to become reliant on it. 146 0 obj * Security may be required - each case is considered on its individual merits. Please use our Live Chat option if its available, or you can find our contact details at the bottom of this page. All customers can ask for support withmanaging their money. 50 interest free 'Buffer', Follow HSBC UK on Facebook This link will open in a new window, Follow HSBC UK on Twitter This link will open in a new window, Follow HSBC UK on YouTube This link will open in a new window, Our website doesn't support your browser so please upgrade, View our service status to see how we're doing, Careers, media, investor and corporate information, the amount borrowed is drawn down in full at noon on the date of calculation, you are overdrawn for a continuous period you dont dip in and out of your overdraft, at the time you go into your overdraft the balance of your current account is 0, no other credits and or debits will be made from the account during the borrowing period, the outstanding balance will be repaid in full on the last day of the borrowing period, the interest rate will remain the same during the whole borrowing period, going overdrawn when you have not arranged an overdraft; or, going over/past your arranged overdraft limit (if you have one), interest and fees for going over/past your arranged overdraft limit, fees for each payment your bank allows despite lack of funds; and, fees for each payment your bank refuses due to lack of funds, your arranged overdraft to help you monitor your usage, your unarranged overdraft - so you know when you've gone over any interest free or arranged overdraft limit and what action you can take. You can find out your overdraft limit by logging onto online banking or theMobile Banking app. You can ask to increase, decrease or remove your arranged overdraft in our app or by logging on to online banking. It's easy to answer your query online. An unarranged overdraft is when your account goes overdrawn and you don't have an arranged overdraft, or you go over your arranged overdraft limit. The interest-free buffer is 25 or higher on most of our accounts. A debit is money withdrawn from your bank account. Our arranged overdrafts have an interest rate of 39.9% EAR (variable), with an interest-free buffer of at least 25. Wise is the trading name of TransferWise, which is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011, Firm Reference 900507, for the issuing of electronic money. As with many UK-issued debit cards, the HSBC card has a few limits you need to be aware of. You can check what your overdraft limit is at any time by logging into your online banking or into the mobile app. <>/Border[0 0 0]/H/N/OC 128 0 R/Rect[89.2913 686.072 223.027 674.522]/Subtype/Link/Type/Annot>> If you exceed your overdraft limit, you'll have entered into an unauthorised overdraft. 1*iUq0iVj0!5X\|tj,gKedEx"{bw/8^;qOfy7OX 0#td@{LXMHKMqF. An overdraft is a pre-arranged loan that you can use as and when you need without having to apply each time. 152 0 obj We'll contact you by email or send you a letter with an update. Overdrafts are subject to status and aren't available if you're under 18 or hold an HSBC Basic Bank Account. Whenwe get in touch, we will also explain how we may beable to help, in the short and long term, if you're unableto pay this amount. This means that we could refuse a payment if you have insufficient funds in your account or askat any time for immediate repayment. 0000011632 00000 n It can help in months where there are extra expenses and unplanned events. 0000027330 00000 n Take a look at ourWays to Borrowpage for more information. Credit is also a term that refers to your borrowing, loans and debt. Each current account will set a monthly maximum charge for: Interest payable on an overdraft by account name. Keep visiting ourcost of living hubto stay up to date. 1We accept calls via Text Relay. 0000005983 00000 n We'll always consider an unarranged request and will make the payment if we can, subject to status.
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