How to open a bank account in HSBC Bank plc

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

January, 2002

Last contact

March, 2024

Last update

October, 2023
  • the bank opens savings and settlement accounts;
  • to open an account, a personal meeting with a potential client is mandatory;
  • there are no minimum balance requirements;
  • the term for opening an account – case by case (check with the consultant);
  • an unreasoned refusal and a long waiting period are possible
GSL rating
Beginning of cooperation
January, 2002
Last contact
March, 2024
Last update
October, 2023
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General information and rating

20
Global rating
4
Countrywide rating
Countrywide rating of the head bank
Global rating of the head bank
Year of foundation
1836
History
Founded in 1836 as The Birmingham and Midland Bank. In 1891, 1898 and 1918 it took over in succession Central Bank of London, City Bank Limited and The London Joint Stock Bank Limited, following which it changed name to London Joint City and Midland Bank Limited. The name Midland Bank Limited appeared in 1923. With the coming into effect of Companies Act 1980 the bank was converted into a public company Midland Bank plc, which was taken over by HSBC Holdings plc in 1992. The landmark consequence of this takeover was the move of HSBC’s headquarters from Hong Kong to London. Since 2003 HSBC Group, that embraces 7,500 offices in 87 countries, has exercised its global strategic and financial planning from a 45-storey building in London’s Canary Wharf
Personnel
English-speaking staff
Bank’s shareholders
HSBC Holdings plc (London UK) - 100%
Confidentiality
Double Taxation Agreement with Russia is signed; AML legislation is strictly observed; Active member of OECD, FATF, Basel Commitee, Egmont Group etc.
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    Minimum requirements

    Minimum balance, €
    Transactions permitted per month
    0
    Initial deposit of funds, €
    0
    Deadline for the initial deposit, month
    Transactions permitted per month
    The bank is ready to service clients with any number of daily transactions
    Initial deposit of funds, €
    The bank has no requirements for the initial deposit
    Minimum turnover, €/year
    The bank has no requirements for the minimum turnover
    How fast payments are executed
    Payments are executed same day

    Tariffs and services

    38
    Outcoming transfer, €
    7
    Incoming transfer, €
    72
    Account maintenance, €/year
    No restrictions
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    The fee for outgoing transfers to HSBC Group banks – GBP 20, to other banks – GBP 30, fee for all outgoing transfers via Business Internet Banking – GBP 17
    Incoming transfer, €
    The fee for incoming transfers of up to GBP 100 – 0, for all other transfers – GBP 6
    Account maintenance, €/year
    The account maintenance fee is GBP 5 per month
    Payment limit for credit cards, €/day
    The daily limit for cash withdrawals and non-cash payments is set by the client. The payment limit per transaction is normally GBP 5 000
    Funds to be blocked for CC issue, €
    None
    Distant access to the account
    Business Telephone Banking, Business Internet Banking. For non-GBP accounts Business Internet Banking currently provides balance information only. A full internet access to non-GBP accounts is available via HSBCnet
    Financial products
    Fiduciary deposits, loans and specialized financing, safe custody, investment advice, fiduciary asset management, alternative investments, fund choice strategy, corporate finance, mortgage (European real estate), mortgage finance
    Credit/debit cards
    MasterCard, Visa

    Account opening procedure

    Days to open for incoming transfers
    Case by case
    Days to open for outcoming transfers
    Case by case
    References
    Not necessary
    Purpose of the account
    Current
    Visit to the bank
    To open an account, a personal meeting with a potential client is mandatory
    Required
    Passports. Standard apostilled corporate documents. A full package of documents for director, shareholder, and secretary of the company. An exhaustive business description. A non-exhaustive list of requested information and documents. The waiting time may be long and the application may be rejected without explanation
    Types of accounts
    Current
    Opening procedure and Due Diligence
    It is possible to open an account without visiting the country where the bank is located; it is possible to open an account without visiting a professional introducer
    Chances to open an account
    Unpredictable
    Business description
    The bank asks to provide as much detail as possible about the client’s business, including: details of all beneficial owners of the company; detailed description of products/services sold; how the business is managed from overseas; how the company attracts clients (advertising policy etc); why a UK bank account is required; etc

    Banks of UK

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
    1 820
    N/A
    N/A
    3 030
    20
    4
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