HSBC has clarified its account rules after a customer expressed frustration over being unable to open a new account online despite already holding a product with the bank. The customer took to social media to complain, stating: "I want to apply for a bank account but you're making it very difficult as I already have a product so can't do it online???"
HSBC's Response
In response, HSBC apologised for the inconvenience and explained that to open a secondary account, additional checks are required. The bank directed the customer to call their customer services team on 03457 404 404, which operates Monday to Sunday from 8am to 8pm. However, the customer remained dissatisfied, questioning why the process couldn't be completed online like other banks. HSBC reiterated that the process must be handled by an agent and offered the option to send a private message for further assistance.
£500 Switching Offer
HSBC is currently offering £500 to new customers who switch their current account to the HSBC Premier Account using the Current Account Switch Service. To qualify, customers must have a qualifying annual salary of £100,000 or more, or deposit and maintain £100,000 or more in savings or investments with HSBC UK. The bonus is paid directly into the new Premier Account. Eligibility requires UK residency and being aged 18 or over.
ISA Changes from April 2027
HSBC also offers a range of fixed rate and regular savings accounts, as well as ISAs. Currently, savers can deposit up to £20,000 per tax year into any ISA, with tax-free growth. However, from April 2027, the allowance will change: only £12,000 can be used flexibly, while the remaining £8,000 must be directed into stocks and shares accounts, not cash. Those aged 65 and over will be exempt from these changes and will retain the full £20,000 allowance.
