Representative example: Based on an assumed arranged overdraft of1,200for an HSBC Graduate Bank Account, the rates are: Year 1:0%EAR (variable) on the first 3,000,39.9%EAR (variable) thereafter, giving a representative rate of 0% APR (variable). However, to be eligible for this account, youll need to have an annual income of at least 75,000 and have a mortgage, investment or life insurance product with HSBC. This additional increase is twenty times the original 25 buffer on these accounts, but should only be used if it is necessary. An unarranged overdraft is when your account goes overdrawn and you don't have an arranged overdraft, or you go over your arranged overdraft limit. The HSBC Mobile Banking app lets you manage your personal accounts easily and securely from your mobile phone. 0000003157 00000 n <> We wont charge unarranged overdraft interest if covering funds are paid in before the end of the day (defined as 23:45). 0000003845 00000 n You may need to pay interest for using an overdraft. Your credit file will not be affected if you ask for temporary arranged overdraft support. So you not only get low fees on overseas spending, but great exchange rates too. Youll have to repay any overdrawn amount, plus any interest for the period youve had it. [134 0 R] endobj Arranged overdraft limit Enter a value between 0 and 3,000 This is a Arranged overdraft limit fieldset consisting of an input field and slider and changing the value in one field will update the value in the other. We encourage you to ask for this extra support only if you need it. The interest-free buffer is 25 or higher on most of our accounts. How does our overdraft compare? We won't charge you more in unarranged overdraft interest than the maximum unarranged overdraft agreed in that charging month. It doesnt include any other fees or charges. We're not automatically increasing existing overdraft limits or adding a limit for customers who havent already got an arranged overdraft on their account. 0000011536 00000 n Based on an assumed arranged overdraft of 1,200 for an HSBC Bank Account. If you want to add an overdraft to your account or increase your existing limit, you can apply for this online through ourManage Overdraft Service. Some examples are: You can also keep a track of your spendingthrough: Well send you a text message when you go into your arranged or unarranged overdraft (including anyinterest-freeoverdraft amount on your account). If approved the overdraft will be provided for 31 days to cover the item concerned. However, if you use an unarranged overdraft, or permanently live within your . 50 interest free 'Buffer', Follow HSBC UK on Facebook This link will open in a new window, Follow HSBC UK on Twitter This link will open in a new window, Follow HSBC UK on YouTube This link will open in a new window, Our website doesn't support your browser so please upgrade, View our service status to see how we're doing, Careers, media, investor and corporate information, the amount borrowed is drawn down in full at noon on the date of calculation, you are overdrawn for a continuous period you dont dip in and out of your overdraft, at the time you go into your overdraft the balance of your current account is 0, no other credits and or debits will be made from the account during the borrowing period, the outstanding balance will be repaid in full on the last day of the borrowing period, the interest rate will remain the same during the whole borrowing period, going overdrawn when you have not arranged an overdraft; or, going over/past your arranged overdraft limit (if you have one), interest and fees for going over/past your arranged overdraft limit, fees for each payment your bank allows despite lack of funds; and, fees for each payment your bank refuses due to lack of funds, your arranged overdraft to help you monitor your usage, your unarranged overdraft - so you know when you've gone over any interest free or arranged overdraft limit and what action you can take.
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