Business BankingBusiness Credit Card – Commercial Card

Frequently Asked Questions

• About your card
• Keeping your card safe
• Statements and Business Internet Banking
• Making Payments

About your card

Q. Can I have a Business Credit Card?
A. Any business with an annual turnover of less than £1m that has a Business Current Account with HSBC is eligible to apply for a card. (Application is subject to status. Terms and Conditions apply).

Q. Can I take out cash?
A. Yes, as long as this is agreed by the business, cardholders are able to withdraw up to £500 per day in cash, subject to a cash handling fee of 2.99% (minimum £3.00). Cash advances abroad may be subject to local currency regulations.

Q. Is there an interest free period?
A. Yes, businesses can have up to 56 days on the minimum Direct Debit option subject to the balance being paid in full within 25 days of the statement. Customers on the full Direct Debit option will have up to 38 days interest free.

Q. Are there any special offers for Business Credit Card customers?
A. Yes, we have a business offers website which provides your business with a range of specially negotiated offers and discounts. Find out more about the special offers and discounts available.

Q. Are there any card fees?
A. The annual fee for each Card is £32. We will not apply this fee for the first year after account opening. For information on APR and other charges please see rates and charges.

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Keeping your card safe

Q. Is there any protection against fraud?
A. Zero fraud liability protects you against online transactions undertaken without your authority.

You also have access to a dedicated help line that provides advice should you have any concerns about identity theft, together with an online tool to help you assess any risk. Offered by HSBC in partnership with PrivacyGuard®. Find out more ways we help protect your business.

We also offer liability waiver insurance for companies who have two or more employees holding valid HSBC Commercial Cards, covering business against employees misusing their cards

Q. Can I use my Business Credit Card online and for mail order purchases?
A. Yes, your card is a secure way of buying goods and services over the phone and on the internet. We use Verified by Visa® to help protect your card online. However please check that the site you are buying from is secure by looking for the closed padlock symbol.

Q. What is Verified by VISA ®?
A. Verified by Visa is designed to help prevent fraud, when you place an order on the internet you may be invited to register for the service. If you do not do so, as part of our fraud prevention measures we may not authorise further internet transactions with participating organisations.

Statements and Business Internet Banking

Q. Can I view my statements online?
A. Yes, up to 6 months of statements can be viewed online using Business Internet Banking. Find out more about Business Internet Banking.

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Making Payments

Q. How do I make payments to my Business card account?
A. You can either set up a minimum or full Direct Debit. This must be from your Business Current Account with HSBC, and the funds will be taken automatically 7 days after the statement date. If you are on the minimum Direct Debit option you have 25 days from the statement date to pay off the balance in full in order to prevent any interest charges.

Q. What is the minimum monthly payment?
A. £5 or 3% of the standard balance (whichever is greater) or the account balance if less than £5.

Q. How is the interest calculated on my Business Credit Card?
A. Interest will be charged daily from the statement date until the balance outstanding has been repaid in full. Interest will be added to the account monthly on the statement date if the balance is not cleared.

Q. What happens if I miss my payment date?
A. If you miss your payment date, a fee of £12 may be charged to your account, and interest will be charged on the overdue balance on a daily basis until the outstanding payment is paid in full.

If you keep on missing payment dates, your account may be suspended and legal action may be taken to recover the outstanding amount.

Q. Can I cancel my Direct Debit?
A. Having a full or minimum Direct Debit from your Business Current account with HSBC is part of the Terms of the product and must not be cancelled. However, you are able to choose between the minimum and full repayment options.

If you have any other questions please contact us.

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