Part of our HSBC UK — Complete Guide 2026 hub.
HSBC UK’s standard current account is free to hold, but charges apply for overdrafts, international spending, and certain payment types. Here’s a clear breakdown of every fee you’re likely to encounter as an HSBC customer in 2026.
HSBC UK Fees at a Glance
| Charge | Rate |
|---|---|
| Standard Bank Account monthly fee | £0 |
| HSBC Advance monthly fee | £0 (closed to new customers as of 2026; eligibility criteria applied) |
| HSBC Premier monthly fee | £0 (eligibility criteria apply) |
| Arranged overdraft interest | 39.9% EAR, after a small interest-free buffer (£25, or £500 for Premier) |
| Unarranged overdraft | No interest charged (since 19 May 2026) |
| UK ATM withdrawal | Free |
| Overseas ATM withdrawal | 2.99% non-sterling fee |
| Foreign card transaction | 2.99% non-sterling fee |
| Faster Payments | Free |
| CHAPS payment | Free (since 4 November 2025) |
| Standing orders | Free |
| Direct debits | Free |
Monthly Account Fees
HSBC’s standard Bank Account carries no monthly fee. It’s a basic current account with a debit card, online and mobile banking, and access to HSBC’s branch network.
HSBC also offers more feature-rich accounts with eligibility criteria rather than fees:
HSBC Advance
HSBC Advance is free to hold and gives access to a preferential Regular Saver rate and some additional banking features. As of 2026, HSBC Advance is closed to new applicants — it’s no longer listed among HSBC’s current personal account range on hsbc.co.uk. Existing Advance customers keep their account and its benefits; if you’re not already an Advance holder, HSBC’s currently available accounts are the Bank Account, Student Bank Account, Premier, and Private Banking.
HSBC Premier
HSBC’s top-tier account, designed for higher earners or those with significant HSBC product holdings. As of 2026, new applicants typically need an individual annual income of £100,000 or more paid into the Premier account, or at least £100,000 held in savings, investments, or pensions with HSBC (customers who opened Premier on or before 4 September 2024 may still qualify under the earlier, lower thresholds). Benefits include a dedicated Premier Relationship Manager, worldwide travel insurance, and fee-free international transfers in some cases. No monthly charge, but the eligibility bar is high.
Overdraft Fees
HSBC charges interest on arranged overdraft usage rather than flat daily fees. The arranged overdraft rate is 39.9% EAR (variable) for most accounts — in line with most high-street banks following the FCA’s 2020 overdraft pricing reforms.
Key points:
- A small portion of your arranged overdraft is interest-free before the 39.9% rate applies: the first £25 for Bank Account and Advance customers, or the first £500 for Premier customers
- Interest above the buffer is calculated daily on the overdrawn balance
- Since 19 May 2026, HSBC no longer charges interest on unarranged overdraft use (previously charged at the same 39.9% EAR rate as arranged borrowing) — always confirm your account’s current terms, as this is a recent change
- You can check your overdraft limit and current usage in the HSBC app under Account details
- Setting up low balance alerts in the app can help you avoid unintentional overdraft use
If you regularly use your overdraft, it’s worth comparing HSBC’s rate against alternatives — some challenger banks offer lower overdraft rates or interest-free buffers.
Foreign Transaction Fees
HSBC charges 2.99% on all non-sterling transactions, including:
- Debit card purchases made abroad
- Online purchases billed in a foreign currency
- ATM withdrawals overseas
At 2.99%, HSBC’s overseas fee is above the 2.75% charged by some competitors, and above fee-free accounts such as First Direct (a division of HSBC that, as of 2026, charges no fee at all for foreign currency debit card spending or overseas ATM withdrawals) or dedicated travel accounts. For a £500 spend abroad, HSBC would charge approximately £15 in fees (£500 × 2.99%).
Alternatives for overseas spending:
| Provider | Overseas Fee |
|---|---|
| Starling Bank | Free (ATM: free up to £300/month) |
| Chase UK | Free (ATM: free up to £1,500/month) |
| First Direct | Free (no non-sterling transaction fee on debit card) |
| Wise debit card | Small conversion fee only |
| Monzo | Free within monthly allowances |
Many HSBC customers keep a Starling, Chase, or First Direct account specifically for travel use.
Transfer and Payment Fees
- Faster Payments — free, processed 24/7 including weekends
- CHAPS — free since 4 November 2025, when HSBC removed its CHAPS fee for same-day guaranteed transfers. Confirm the current position at hsbc.co.uk, as pricing can change.
- International transfers (SWIFT) — fees vary depending on currency and destination; check the HSBC website or call 03457 404 404
- Standing orders — free to set up and cancel
- Direct debits — free
Note on HSBC Premier international transfers: HSBC Premier customers may receive preferential rates or fee-free international transfers depending on the destination currency. Check the terms of your Premier account.
HSBC Advance and Premier — Additional Benefits vs Fees
If you meet Premier’s eligibility criteria, it represents good value since it’s effectively a free account with added benefits. Existing HSBC Advance customers similarly benefit from a free account with a preferential Regular Saver rate, though the account is no longer open to new customers. If you fall below the qualifying threshold for Premier after opening, HSBC may move you to the standard Bank Account — worth being aware of if your income or product holdings change.
How to Check Your Current Fees
Fee schedules can change — HSBC removed its CHAPS fee and unarranged overdraft interest during 2025–2026, both changes reflected above. The most reliable sources are:
- The HSBC app — go to Account details or the dedicated fees section
- Your account’s Terms and Conditions document
- The HSBC fees page on the HSBC website