HSBC vs Barclays: Fees and features (2025)

Tired of your bank and thinking of switching? You’ll need to do some research to find the right bank and account for your needs.

It can be hard to know where to start though, as the UK has a huge number of options available - from big high street names to smaller digital-only banks.

In this guide, we’ll aim to make it a little easier for you, by comparing two of the UK’s biggest banks head-to-head. It’s HSBC vs. Barclays, looking at how the two stack up on accounts, cards, fees and international transactions.

This should give you all the info you need to pick the right bank for you.

So, let’s dive right in.

Table of contents
HSBC vs. Barclays - An overview HSBC vs. Barclays - Account types HSBC accounts Barclays accounts Barclays vs. HSBC- Fees HSBC vs. Barclays - Cards Using your debit card overseas - withdrawal fees and limits Barclays vs. HSBC - International money transfer Which is best for you- HSBC or Barclays? Wise: an alternative for managing your money at home and abroad

HSBC vs. Barclays - An overview

HSBC and Barclays are two of the ‘Big Four’ UK banks. They’re well established, with long histories - HSBC was founded in 1865 in Hong Kong, while Barclays first opened its doors in London in 1690.

Both banks have high street branches, serve both personal and business customers, and have an international presence.

Here’s a quick overview of what both banks have to offer in terms of accounts and features:

	HSBC	Barclays
Current accounts	Basic, standard and premium accounts Student accounts Children's accounts International accounts	Basic, standard, rewards and premium accounts Student accounts Young people’s accounts Foreign currency accounts
Savings accounts	Online Regular saver Cash ISA accounts	Everyday Rewards Children's saving accounts Cash ISA accounts
Cards	Debit cards Credit cards	Personalised debit cards Credit cards
Other financial services	Personal loans Car loans Mortgages Investments Insurance Overdrafts	Personal loans Mortgages Investments Insurance Overdrafts
Digital banking	Online and mobile app	Online and mobile app
Business banking available	Yes	Yes
Private banking available	Yes	Yes
International services	Global Money Account Travel Money International payments	Foreign currency account International payments
Customer support	Branch Phone In-app chat	Branch Phone Online banking chat In-app call or chat Video call
Part of the Current Account Switch Service	Yes	Yes
FSCS protection	Yes - £85,000/person	Yes - £85,000/person

HSBC vs. Barclays - Account types

Both HSBC and Barclays have accounts available for both personal and business customers.

Here, we’ll focus on personal accounts - let’s take a look at what each bank has to offer.

HSBC accounts

HSBC has the following current accounts available:¹

Account	Monthly fee	Features	Eligibility
Bank Account	None	Access to regular saver account home&Away rewards programme	UK residents aged 18+
Premier Bank Account	None	Exclusive rates on borrowing and savings Fee-free international transfers between HSBC accounts home&Away rewards programme Family travel insurance Health benefits 2 rewards credit cards	UK residents aged 18+ Income or savings (with HSBC) of £100,00+
Advance Account	None	Fee-free international transfers between HSBC accounts home&Away rewards programme	UK residents aged 18+ Qualify for overdraft of £1,000

It also has a basic bank account for people who don’t qualify for other HSBC accounts, along with student and children’s accounts.

And if you want to manage your money in multiple currencies, you can open an HSBC Global Money Account.

HSBC’s rather long list of savings accounts includes the following:

• Fixed Rate Savings Account
• Online Bonus Savings Account
• Regular Savings Account
• Loyalty Cash ISA
• Fixed Rate Cash ISA
• Flexible Savings Account
• Premier Savings Accounts
• Children’s Savings Account.

Barclays accounts

Like HSBC, Barclays has three main current accounts:²

Account	Monthly fee	Features	Eligibility
Barclays Bank Account	None	Personalised card Money management tools Interest	UK residents aged 18+
Barclays Bank Account + Blue Rewards	£5	Personalised card Money management tools Interest Apple TV+ Cashback rewards	UK residents aged 18+ Pay in £800+/month Register for Barclays app
Premier Current Account	None	Personalised card Money management tools Interest Apple TV+ Cashback rewards	UK residents aged 18+ Pay in £75,000/year or save £100,000+ with Barclays

Barclays also has student and graduate accounts, accounts for under 18s, a foreign currency account and a basic bank account.

Its savings accounts include:

• Rainy Day Saver
• Everyday Saver
• Blue Rewards Saver
• Reward Saver
• Instant Cash ISA
• Reward ISA
• Barclays Children’s Savings.

Barclays vs. HSBC- Fees

With Barclays and HSBC having a similar offer in terms of accounts and features, you’ll need to drill down into pricing info to compare them properly.

So how much does it cost to use each bank? Here are the main fees and charges you need to know about, based on the standard account available at both HSBC and Barclays:

Fee	HSBC Bank Account3	Barclays Bank Account4
Monthly fees	None	None
UK payments - card transactions and bank transfers	None	None
Sending international payments	£0 to HSBC accounts £0 for SEPA (to EEA county in euros) £5 for all other payments	£0 for SEPA (to EEA county in euros) £0 for Barclays International Payments, but overseas delivery charges may apply
Receiving international payments	£5 per payment	£0 for under £100 £6 for £100+
Card payments outside the UK	2.75%	2.99%
Withdraw cash outside the UK	2.75%	2.99%

HSBC vs. Barclays - Cards

Both HSBC and Barclays offer contactless debit cards as standard with all of their current accounts. With Barclays though, there’s also the option to personalise your card for no extra cost.

You can also apply for a wide range of credit cards at both banks - here are a few of the most popular:

Bank/credit card	Interest rate (representative APR variable)	Main feature
HSBC:5
Balance Transfer Credit Card	24.9%	0% on balance transfers for up to 30 months (transfer fee applies)
Purchase Plus Credit Card	24.9%	0% on purchases for up to 20 months
Rewards Credit Card	23.9%	Rewards points on eligible purchases
Classic Credit Card	29.9%	Build your credit rating
Barclays:6
Amazon Barclaycard	28.9%	£20 Amazon gift card 1% rewards when shopping on Amazon, 0.5% elsewhere
Barclaycard Avios	29.9%	Collect and redeem Avios points
Barclaycard Rewards Card	28.9%	0.25% cashback on everyday spending No fees abroad
Barclaycard up to 22 month balance transfer and up to 19 month purchase Platinum card	24.9%	0% on balance transfers for up to 22 months (transfer fee applies) 0% interest on purchases for up to 19 months

Using your debit card overseas - withdrawal fees and limits

Planning to use your new account and card when you travel? You’ll need to watch out for foreign currency transaction fees, on both spending and cash withdrawals.

Unfortunately, both HSBC and Barclays have fees for overseas card payments and cash withdrawals. HSBC is marginally cheaper with a fee of 2.75%,³ whereas if you use your Barclaycard abroad you’ll pay 2.99% of the transaction amount.⁴
If you have the HSBC Global Money account, there are no foreign transaction fees to pay.⁷

Limits for spending and cash withdrawals are the same as in the UK, for both banks.

If you want to avoid high fees for using your card abroad, it could be worth checking out a travel-friendly option like the Wise card.

Available for a one-time cost of just £7, the Wise card works worldwide. It lets you you spend and withdraw in 40+ currencies for low fees starting from just 0.33%* - and you’re guaranteed mid-market exchange rates when converting currency.

What’s more, you can withdraw up to £200/month (max 2. withdrawals) from overseas ATMs without any fees. You’ll just need to check whether the ATM you’re using has any fees.

Barclays vs. HSBC - International money transfer

If you want to use your new bank account to send money overseas, it’s worth checking out the fees beforehand.

Both HSBC and Barclays let you make and receive international transfers. Sending SEPA payments (to EEA countries in euros) is free with both banks, but fees may apply for other international transfers.

HSBC has a transparent flat fee of £5 for sending international transfers, and it’s the same to receive them.³

Meanwhile, Barclays claims it doesn’t charge any fees for sending overseas payments - but does caveat this by saying that overseas delivery charges may apply. To receive an international payment, you’ll pay £0 to £6 depending on the amount.⁴

Remember that both banks may also apply their own margin to the exchange rate, which could add an extra cost to the transfer.

Which is best for you- HSBC or Barclays?

HSBC and Barclays offer very similar accounts and features for UK customers, so you may find it hard to choose between them.

It’s likely to come down to what you want to do with the account, whether it’s accessing rewards or cashback, applying for credit cards or spending abroad.

Hopefully after reading this though, you should have all the info you need to make the right choice for you.

Wise: an alternative for managing your money at home and abroad

Remember that a bank isn’t the only way to manage your money, especially if you want or need to carry out international transactions. There are some great alternatives out there, such as the Wise account.

Open a Wise account online and you can send, spend, hold and convert 40+ currencies all in one place. Get yourself a Wise card to spend worldwide, and take advantage of Wise Interest to earn a return on some of your currency balances. Capital at risk, growth not guaranteed.

Whatever you do with Wise, you’ll only ever be charged low, transparent fees* - and you’ll always get mid-market exchange rates on all currency conversions.

Capital at risk. Growth not guaranteed. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you’re uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.

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Sources used:

. HSBC - Compare HSBC current accounts
2. Barclays - Current accounts
3. HSBC - Fee information document
4. Barclays - Fee information document
5. HSBC - Compare credit cards
6. Barclays - Credit cards
7. HSBC - Using HSBC card abroad

Sources last checked on date: 04-Feb-2025