The Terms include the Important Notes set out below. You should read them.
The information in this Site is based on our understanding of current law and Inland Revenue practice at the time of going to press. Future changes in legislation, tax levels and practice could affect the information in this Site.
HSBC Bank plc is covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors - including most individuals and small businesses - are covered by the scheme.
In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each making a total of £170,000. The £85,000 limit relates to the combined amount in all eligible depositor's accounts with the bank, including their share of any joint account, and not to each separate account.
first direct and HSBC are both trading names of HSBC Bank plc and customers who hold deposits under both trading names of HSBC Bank plc will only be eligible for one claim of £85,000 in total.
Marks & Spencer Money is a trading name of Marks & Spencer Financial Services plc and is part of the HSBC Group. Deposits held with Marks & Spencer Money will be covered separately to deposits held with HSBC Bank plc, under the Financial Services Compensation Scheme, as both organisations are covered by separate banking licences. Therefore, customers who hold deposits with both Marks & Spencer Money and with HSBC or First Direct would be eligible to claim up to £85,000 from both companies (up to £170,000 in total).
For further information about the compensation provided by the FSCS (including the amount covered and eligibility to claim) please refer to the FSCS website FSCS.org.uk or call the FSCS 020 7741 4100 or 0800 678 1100. Please note only compensation related queries should be directed to the FSCS. For all other enquiries on your account please contact HSBC on 08457 60 60 60.
Deposits made with our offices in the Channel Islands and the Isle of Man are not protected by the rules made under the UK's Financial Services and Markets Act 2000 for the protection of retail clients, including the Financial Services Compensation Scheme and the Financial Ombudsman Service. Deposits made with these offices are subject to local arrangements. Please contact your local branch for information.
We reserve the right to decline an account application. Our credit facilities are subject to status and our mortgages are also subject to security. With a mortgage or other secured loan a charge will be taken over the property.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or other loan secured on it.
The value of most investments and any income they generate can go down as well as up, meaning you may not get back the full amount you invested.
This may in part be caused by exchange rate variations where overseas investments are held. Investors are advised to consider carefully the special risks of investing in emerging market securities. Investments in emerging markets are by their nature higher risk and potentially more volatile than those in more established markets.
Most investments should be considered as a medium- to long-term commitment, meaning you should be prepared to hold them for at least five years.
Some investments have a fixed term or may not be accessible until you reach your retirement age. For products with a fixed term you may get back significantly less than originally invested if you make an early withdrawal.
The value of any tax benefits described depends on your individual circumstances. Tax rules may change in the future.
With variable rate savings accounts, the interest paid by the bank will alter from time to time. This means that when the interest rate rises, the interest you receive will increase, but it will become less when the interest rate falls.
Gross: The rate before the deduction of tax on interest on savings.
Net: The rate after the deduction of tax on interest on savings, currently 20%. Higher rate taxpayers will have an additional liability.
AER: Annual Equivalent Rate, the true gross return taking into account the frequency of interest payments.
Private clients services are provided by HSBC Trust Company (UK) Limited.
HSBC Bank plc is a member of the HSBC Bank marketing group. We sell life assurance, pensions and collective investment schemes and advise only on our own range of these products.
Further information and written details about our product and services are available from any of our branches or from Customer Information, PO Box 757, Hemel Hempstead, Hertfordshire HP2 4SS.
The Terms are governed by and interpreted in accordance with the laws of England and Wales and the courts of the above jurisdiction will have non-exclusive jurisdiction in respect of any dispute which may arise in connection with the Terms or your use of the Site.
Should you wish to contact HSBC Bank plc please refer to the Contact Us menu which can be found on each page of this site.