HSBC is one of the largest banking and financial services organisations in the world, with operations in 64 countries and territories.
HSBC Expat is a division of HSBC Bank plc, Jersey Branch.
HSBC Bank plc, is registered in England and Wales number 14259. Registered office 8 Canada Square, London, E14 5HQ.
HSBC Expat products and services are available only in jurisdictions where and when they may be lawfully offered by them - not all of their products or services mentioned on their website will be available to residents of all countries/regions, due to HSBC's Policy.
HSBC Expat's range of services includes an expat account, expat mortgages, expat savings, the discover FX app and market insights.
HSBC Expat is regulated in Jersey by the Jersey Financial Services Commission for banking, general insurance mediation, investment and fund services businesses.
The Expat account provides a place for your money to grow in a convenient, central location. All of HSBC Expat's accounts are based in Jersey, Channel Islands – a secure offshore jurisdiction.
New HSBC Expat customers must be 18 years or over, currently live or be situated in an eligible country or region, and meet one of these criterion:
Additionally, you must currently reside or be situated in an eligible country* or region.
*You can learn more about these eligible countries in the FAQs section of this review.
Key features of the HSBC Expat account include:
Types of accounts offered by HSBC Expat can be summed up below:
|1. HSBC Expat Bank Account||2. Fixed Term Deposit||3. Little Expat Savings Account||4. Quarterly Bonus Saver|
|Their premier relationship managers are there to help you and your family manage your finances||Get the latest interest rate on Sterling and US Dollar||Open an account with just £1 or currency equivalent||Bonus interest rates paid after each qualifying 3 month period|
|Travel security services from WorldAware||Choose a term to suit you from 1 month to 1 year||Keep savings in one place, wherever in the world you relocate||Standard rates paid regardless of withdrawals|
|Available in Sterling, US Dollar and Euro||Available in 19 currencies||Choose from 4 currencies: GBP, USD, HKD and AED||Available in Sterling and US Dollar|
|Minimum balance required: GBP 5,000, USD 5,000 or EUR 10,000||Minimum balance required: GBP 5,000, USD 5,000 EUR 10,000 or GBP 10,000 currency equivalent||-||Minimum opening balance: GBP 5,000 or USD 5,000|
|5. Online Bonus Saver||6. Currency Savings Account||7. Saver Account|
|Additional bonus interest paid for any calendar month in which you make no withdrawals||Interest is calculated daily and credited to your account in April and October||A flexible savings account with easy access to your money|
|Standard rates paid regardless of withdrawals|
|Available in Sterling, US Dollar and Euro||Available in 16 currencies||Available in Sterling, US dollar and Euro|
|Minimum balance required: GBP 5,000, USD 5,000 or EUR 5,000||Minimum balance required: GBP 10,000 currency equivalent||Minimum balance required: GBP 5,000, USD 5,000 or EUR 10,000|
HSBC Expat bank account interest rate:
*They may change the interest rates applied to credit balances.
Investing services offered by HSBC Expat are as follows:
HSBC Expat also has an FX app which is supposed to help you manage everything in one place, offer live market insights, news and get exclusive discounts subject to transaction size.
Additionally, here's a free guide that can help you achieve better results. In this guide, you'll learn:
The benefits of fixed term deposits as stated by HSBC Expat are as follows:
The country or region you are located in when you apply for an account and the country or region you reside in can impact their ability to assist you.
Eligible countries include:
Argentina, Armenia, Australia, Austria, Bahrain, Belgium, Bermuda, Brazil, Canada, Cayman Islands, Chile, China, Denmark, Egypt, France, Germany, Gibraltar, Greece, Guernsey (including Alderney and Sark), Hong Kong SAR, India, Isle of Man, Israel, Japan, Jersey, Kenya, Kuwait, Lebanon, Macau SAR, Malaysia, Malta, Mexico, Netherlands, Norway, Oman, Philippines, Poland, Portugal, Qatar, Russian Federation, Singapore, South Africa, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States of America, Uruguay, Venezuela, Virgin Islands (British).
If you’re new to HSBC Expat, you’ll need to hold a minimum GBP 50,000 or currency equivalent in deposits or investments with them or have a sole minimum salary of GBP 100,000 or currency equivalent.
You'll need to maintain a minimum balance of GBP 5,000, USD 5,000, EUR 10,000 or GBP 10,000 currency equivalent for other currencies.
If you have money in one of your accounts, HSBC may choose to set it off against any amount you owe them, or any other HSBC group company, which is due for payment.
Amounts owed include amounts owed under a loan, credit card, mortgage or overdraft.
HSBC's set-off right applies to accounts in your name only and to accounts you hold jointly with another person (X) as shown below:
|Money in account for:||Set-off against money owed by:|
|You only||You and X|
|You and X||You|
|You and X||X|
|You and X||You and X|
They can use money in your account even if there’s a court decision against you or you’re fined (including interest arising after the date of the final decision or fine), unless they are prevented by the court or by law.
If you have money in a foreign currency, they may convert it to pounds sterling using the HSBC exchange rate when they use their set-off right.
You must be an existing HSBC Expat customer before you can apply for a little expat savings account.
The benefits of HSBC Expat's online bonus saver as stated by them, is as follows: