HSBC Everyday Savings Account FAQs

Your HSBC Everyday Savings Account Number, BSB number, Personal Banking Number (PBN), and Online Security Device (OSD) will be sent to you in the mail once we receive your paperwork and have verified your identity and opened your account.

Three simple ways to apply for an HSBC Everyday Savings Account:

1. Apply for your HSBC Everyday Savings Account online.
2. Contact Us on 1300 131 605 (or +612 9005 8114 if calling from overseas) to apply over the phone with the help of one of our consultants - the phone application service is available Monday to Friday from 8:00am to 8:00pm AEST.
3. Apply in any HSBC Branch.

The following criteria apply to opening an HSBC Everyday Savings Account:

• You must be 18 years of age or older;
• You must have a valid and accessible email address;
• You must be able to link your HSBC Everyday Savings Account to an (your nominated) Australian deposit account with the same name;
• You must be comfortable opening and operating your HSBC Everyday Savings Account online or over the phone; and
• Available for personal customers, trusts, SMSFs and non-trading companies.

Yes, your HSBC Everyday Savings Account can be set up as a joint account. Just follow the online application process and click on the 'Joint Account' option.

Please note, the HSBC Everyday Savings Account is not available where you require both parties to authorise transactions. The Joint Account must be linked to a nominated joint account in the same name. The maximum number of people who can open a Joint Account is two.

No, there is no minimum opening balance required with opening an HSBC Everyday Savings Account.

There is no maximum balance, however interest will only be payable up to $1,000,000.

No, each customer can only open one HSBC Everyday Savings Account.

If your HSBC Everyday Savings Account is closed, you cannot open another HSBC Everyday Savings Account at any time within the same month of the date of closure of your previous HSBC Everyday Savings Account.

Your HSBC Everyday Savings Account has no bank or account fees.

Interest periods are defined as the period between the first business day of the month up to and including the day prior to the first business day of the following month.

Interest is paid on the first business day of the month for the period prior (e.g. interest earnt for January will be paid on the first business day of February).

You can deposit money into your HSBC Everyday Savings Account in a number of quick and convenient ways. Deposits can be made electronically from your Nominated Account to your HSBC Everyday Savings Account, by either Online Banking or Phone Banking.

You cannot transfer funds into your HSBC Everyday Savings Account (via Mobile Banking, Online Banking or Phone Banking) from any account other than your Nominated Account.

You can only deposit funds to your HSBC Everyday Savings Account by transferring funds from your Nominated Account. Your Nominated Accounts financial institution may require you to register to use a 'Third Party Transfer' or 'pay anyone' service and may impose daily limits. Please contact your financial institution for more details.

To withdraw money from your HSBC Everyday Savings Account, you must transfer the amount you wish to withdraw back to your Nominated Account, and then withdraw the amount from the Nominated Account.

Yes. The maximum daily limit you can withdraw from your HSBC Everyday Savings Account is $500,000. The $500,000 daily account limit applies to all your HSBC accounts which have the same Personal Banking Number (PBN), therefore you may exceed your account limit if you have withdrawn or transferred funds using the same PBN from other HSBC accounts.

Interest periods are defined as the period between the first business day of the month up to and including the day prior to the first business day of the following month.

Interest for your HSBC Everyday Savings Account is calculated daily on the closing balance of your HSBC Everyday Savings Account up to $1,000,000. 

Interest is paid on the first business day of the month for the period prior (e.g. interest earnt for January will be paid on the first business day of February).

The current interest rate is always available at the HSBC Website or by calling Phone Banking Centre on 1300 308 008 (or +612 9005 8220 if calling from overseas).

You can view your HSBC Everyday Savings Account interest rates on Personal Online Banking.

A Nominated Account is the personal Australian bank account you choose to link to your HSBC Everyday Savings Account. Your Nominated Account must be in the same name(s) as your HSBC Everyday Savings Account.

To withdraw money from your HSBC Everyday Savings Account you can use HSBC Mobile Banking, HSBC Online Banking or Phone Banking to transfer funds back to your Nominated Account. For security reasons, you can only withdraw funds to the Nominated Account linked to your HSBC Everyday Savings Account.

You can change these details by completing the HSBC Everyday Savings Account Change of Nominated Account Form, returning it to us with original bank issue statements from both your existing and new nominated accounts. Your new Nominated Account statement must be less than 3 months old.

You can access your HSBC HSBC Everyday Savings Account anytime you like using our HSBC Mobile Banking App, HSBC Online Banking, or HSBC Phone Banking, on 1300 308 008 (or +612 9005 8220 if calling from overseas). All 3 options are available 24 hours a day, 7 days a week.

Deposits and withdrawals from the account can be made through your linked bank account.