HSBC Transaction Accounts

HSBC is a provider of transaction accounts, as well as other banking solutions such as home loans, personal loans, credit cards and insurance.

Compare HSBC transaction accounts

Considering a transaction account from HSBC? The table below displays a snapshot of HSBC transaction accounts on Canstar’s database, sorted by Star Rating. These results are based on a person in NSW with an average of 35 transactions per month.  

Click here to compare more policies based on your circumstances.

What transaction accounts does HSBC offer?

HSBC offers 3 transaction accounts at the time of writing:

Day to Day Account

This is HSBC’s standard transaction account offering, which charges no monthly fees and comes with a Visa Debit Card. It requires no minimum deposit or monthly balance.

Everyday Global Account

Use the Everyday Global Account as your normal everyday bank account in Australia to pay bills and deposit your salary –  then simply pack it with you when you travel overseas to pay like a local in the local currency (if available) wherever you are in the world.

Premier Cash Management Account

This account charges a monthly $35 fee, but comes with international services and a dedicated HSBC Premier Relationship Manager. It also offers higher interest rates than HSBC’s other transaction accounts.

You can view the current Star Ratings and fees on HSBC transaction accounts in our comparison tables.

Does HSBC also offer savings accounts?

Yes, HSBC does offer savings accounts in addition to its transaction accounts – The Flexi Saver and the Serious Saver.

In order to get more out of a savings account with HSBC, you may need to link it with your transaction account. You do not, however, need to have a savings account with HSBC in order to use its everyday transaction account.

Considering a savings account from HSBC? The table below displays a snapshot of HSBC savings accounts on Canstar’s database, sorted by Star Rating. These results are based on a regular saver in NSW with $10,000 in current savings.

Click here to compare more savings accounts based on your circumstances and preferences. To see the definition of a regular saver and other profiles used in Canstar’s Star Ratings, view Canstar’s savings account methodology here.

Does HSBC charge fees on its transaction accounts?

Transaction accounts can come with several fees, such as monthly account-keeping fees, transaction fees, withdrawal fees and more. HSBC charges the following fees on its transaction accounts at the time of writing (23 August 2018):

  • $4.50 overseas transaction fee on the Day to Day Account

What does HSBC offer in terms of mobile banking for its transaction accounts?

HSBC offers both online and mobile banking for its transaction account products, with its app available in both the Apple and Google store. Notable features of HSBC’s mobile banking include:

  • Log on around the world
  • View your account balances and transaction history
  • Move money

How to apply for a HSBC transaction account

Before applying for a HSBC transaction account, try to first compare it against others on the market to ensure it is the right one for you. You can then apply for a HSBC account online, provided you have the correct documentation:

  • At least one form of ID, such as your driver’s license or passport
  • Accurate personal information, such as your name, date of birth, address and phone number

Once your account is opened, HSBC may require you to transfer in a minimum amount before your account can be activated – check the PDS document for more information on how much you might need to deposit.

Related article: How to change bank accounts

Eligibility requirements

Before applying for a HSBC transaction account, you will also have to meet the following eligibility requirements:

  • You must be 18 years of age or older
  • You must have an Australian residential address

What other banking products does HSBC provide?

HSBC provides a variety of different products to consumers, including:

  • Home Loans
  • Credit Cards
  • Personal Loans
  • Home and Contents Insurance

About HSBC

HSBC was founded in 1865 in Hong Kong to finance trade between Asia and Europe. 100 years later, they moved into Australia in 1965 and gained their commercial banking licence in 1986.

HSBC is now one of the world’s largest banking and financial institutions, serving 48 million customers around the globe, and 6,000 offices in 71 countries. They aim for sustainability through the Climate Business approach, and support leading charities that focus on education, the environment, and health.

“How to” guides are available for customers, and if these don’t have the answers you’re looking for, you can chat online live with help centre members.

HSBC Day to Day Account

Canstar Research
Rating:
Award: 4 Star Rated Transaction Account

Written by: Maddie Clarey | Last updated: August 23, 2018

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