HSBC Saver Bank Account Review

Published on 19 August 2010 by Raffick Marday

HSBC Saver Bank Account Review

HSBC Saver account is a Online Bonus Saver account which is a simple, easy to open online savings account. You'll have instant access to your money and get bonus savings interest for the months you don't make a withdrawal. You can open an Online Bonus savings account with just £1. You can transfer funds to another HSBC account or to an account held elsewhere, using Internet Banking.

Why get a HSBC Savers Account?

HSBC will pay Interest on balances from £1 to £50,000. For balances that exceed £50,000 they will pay a lower rate of interest. Variable rate of 0.75% AER (0.75% gross), including bonus interest when you don't make a withdrawal. If you do need to make a withdrawal, you won't get bonus interest, but you'll still get 0.25% AER (0.25% gross).

What sort of service do they offer?

HSBC is one of the safest and largest banks in the world. With a HSBC bank account you can upgrade depending on your circumstances. The HSBC Online bonus account is designed to get all the online banking facilities you require plus additional features such as interest on you rmoney on a monthly basis. You can transfer funds from your current account directly to your online bonus account online which keeps all your finances all in one location. The HSBC savers account is designed for people who wish to use an online facility.

HSBC Saver Banking Benefits?

  • Mobile banking
  • Free HSBC debit card
  • Identity theft assistance
  • Access to regular saver - gain higher rate of interest
  • Overdraft facility
  • 24 / 7 internet banking
  • Telephone banking and branch banking
  • Transfer existing direct debits

Mobile Banking Features

  • Internet banking
  • Variable rate
  • Interest paid monthly
  • Interest is paid net of basic rate income tax
  • You may register to receive interest paid gross if you are eligible
  • Bonus interest (in addition to standard interest) is paid for any calendar month during which a withdrawal has not been made or the account closed
  • Instant access

Who can apply for a HSBC bank account?

You need to be over 16 to apply for a Savers account, have you been a permanent resident in the UK for at least the last 3 years and you able to operate the account solely online. The form takes a few minutes to complete with an easy step by step guide and as you would expect secure website protection.

Where do I make a complaint?

If you would like to make a complaint about your account, contact The Manager, Service Quality Team, H S B C Bank plc, Arlington Business Centre, Millshaw Park Lane , Leeds , LS11 0PP. However if you are not satisfied with the outcome of your complaint you can write to Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR.


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