How to open an HSBC account?

There are a lot of reasons you may be thinking of switching banks.

Maybe the customer service is lacklustre, the fees are getting higher or you’re not so confident in the bank’s security. Or maybe you’re a new arrival in the UK and are thinking about where to begin your banking journey.

If any of this applies to you, you’re likely to have come across HSBC when comparing UK banks. If you’ve checked it out and it’s the bank for you, the next step is to open an account. But how do you go about it?

This guide will show you exactly how to open a HSBC account from your computer, or your phone, or in-branch.

HSBC is one of the largest banks in the world, operating in over 60 countries.¹ They offer a wide range of financial services, from personal banking and business banking, to wealth management and insurance. They’re a reputable option for every financial service you can need, with over 150 years in the business.

Although not a bank, Wise could be a cost-effective alternative if you’re specifically looking to manage your money internationally.

Wise uses the mid-market exchange rate with no mark-ups added, and a small, completely transparent fee so you know exactly where your money is going.

Ways to open an HSBC account

There are a few ways to open an account at HSBC. All do the job, but some are simpler than others.

How to open an HSBC account online - step by step:

1. The first thing you’ll want to do is ensure you’re applying for the best account to suit your needs. HSBC offers a range of current accounts to suit different needs so check them out here before moving on.
2. Once you’ve chosen the perfect account for you, you’ll need to scroll down the page to find a big red button that reads ‘apply for a sole account’. Click on this and begin the application.
3. The first page you’ll land on will explain what requirements you’ll need to fulfil to be eligible for the account. There will also be a brief list of the documentation you’ll need for the application. Read this carefully and continue.
4. Fill out the application form. You’ll be required to enter your name and address, contact information, job and income.
5. Once you’ve completed and reviewed the form, hit the ‘submit’ button to send your application.
6. With this done, you simply have to wait for HSBC to review and approve it. They might contact you for further information if needed.

How to open an HSBC account in-branch

If you prefer a more personal touch, then you can always go into a branch and set up your account with one of their advisors. Here’s how to do it:

1. The first thing you’ll need to do is find a branch near you, which you can do using HSBC’s branch locator.
2. Depending on your location you may need to book an appointment, but in some cases this isn’t necessary.
3. Make sure you have all the required documentation to take with you. You can check what you’ll need to take with you here. We’ll look at this in more detail below.
4. On the day of your appointment, visit your chosen branch. They’ll provide you with an application form and talk you through the process.
5. Once you’ve completed the application, HSBC will review it and get back to you with your account details once it’s approved.

Can I open an HSBC account via the mobile app?

Opening an account is not supported via the app at the time of writing.

If you already have an account though, you can register for digital banking using the app. You’ll simply need to provide either your sort code and account number, credit card number, InvestDirect account number, or PIMS account number.

What do I need to open an HSBC account?

You won’t need a surplus of documentation to prove your identity when setting up a HSBC account. But a few key documents are required.

You can prove your identity with either:

• Passport
• Driver’s licence
• EU identity card

And you can prove your address with either:

• Utility bill
• Telephone bill
• Council tax bill
• Mortgage statement
• Tenancy agreement.

Some branches may require more than one proof of address. Others may ask for proof of income and expenses. If asked, you’ll need to provide either:

• Payslips
• Bank statements
• P60 (statement issued to UK taxpayers at the end of the tax year)
• Letter from a recognised employer
• Tax-returns (for self-employed).²

How long does it take to open an HSBC account?

Provided you have the necessary documentation prepared, the application process shouldn’t take more than a few minutes.

Once it’s been approved, HSBC will need to review your application. While some may be approved immediately, the bank may get in touch requesting more information.³

How to use the Current Account Switch Service

Switching current accounts used to be a hassle. But these days, you can use the Current Account Switch Service to make it seamless.

The service takes responsibility for transferring your direct debits and salary over to your new current account. And as an added bonus, the process is backed up by the Current Account Switch Service guarantee so you’ll be fully reimbursed should anything go wrong.

Here’s what you’ll need to do:⁴

• The first step is to open an account with HSBC. You can apply for the switch when you apply for your account, or after it’s been opened, but you must already have an account active to use the service.
• HSBC recommends tidying up your old account and removing any unwanted direct debits and standing orders, so they don’t make the transition to your new current account.
• You can then choose what date to start the switch, which takes around 7 working days. HSBC will contact your old bank and inform them of your desire to switch and begin moving your salary, direct debits and standing orders over to your new account.

Your old account will be closed in the process, unless you want to keep it active. This is called a partial switch, but this isn’t covered by the current account switch guarantee and takes longer than 7 working days.⁴

How to contact HSBC customer services

If you need to contact HSBC regarding any of these options, you can speak to them via text chat on their contact page, or via their mobile app.

If you want to reach their call centres, you can do so from these numbers:

• 03457 404 404 (as an existing UK HSBC customer)
• 03455 873 444 (if you’re not a HSBC customer but live in the UK)
• +44 1226 261 010 (if you’re calling from outside the UK).⁵

Need to manage your money internationally? Check out Wise

If you’re looking specifically to manage your money internationally, then banks may not be your best bet.

With Wise, you can send money worldwide for low fees and the mid-market exchange rate, with no markups to worry about. You can manage your money in 50 currencies too, converting between them when you need to.

Whether using Wise online or via their mobile app, it’s a fast and convenient option. There’s also the Wise international debit card, which uses the same great exchange rates when spending overseas. So, you don’t have to worry that you’re paying a premium like you will with most conventional banks.

Find out more about the Wise multi-currency account here.

Join Wise today

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

Sources used:

Sources last checked on date: 02-May-2023