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

October, 2024

Last update

June, 2024

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

October, 2024

Last update

June, 2024

Поиск консультанта...

+44 0 207 822 85 93

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

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