Rates And Charges

Rates home page

We're committed to helping you stay in control of your money. One way we do that is by letting you know up front about any charges that might apply to any of our accounts - after all, nobody likes a nasty surprise. So you'll find all of our charges here - as well as on each of our product pages.

The interest rate and charges information set out below that applies to your product forms part of the Terms and Conditions that apply to your product.


Here you'll find all our charges for banking, Foreign and Travel Services and Payment types.

Banking fee

You must pay our £10 Banking fee for each month or part of a month that you hold a 1st Account unless we agree to waive the fee. If applicable, the fee will debit your account monthly in arrears.

Banking fee waivers

You will not have to pay the Banking fee:

  • for the first six months following account opening
  • for any month in which you:
    • pay into your account* (other than by internal transfer from another first direct account) a minimum of £1,000 or you maintain an average monthly balance on your account* of £1,000 (month means calendar month and we will work out the average monthly balance by adding together the end of day balances for each day during the month and dividing the sum by the number of days in the month) or
    • hold a first direct mortgage, credit card, personal loan, savings account (*excludes Regular Saver Account), First Directory, or first direct car or home insurance policy;
  • in relation to any second or subsequent 1st Account in the same name. (If you hold a sole and joint account, your joint account will not be considered to be in the same name unless all joint account holders are the same);
  • if your account is inactive for more than 90 days and the balance of your account is less than £10.

* Where multiple current accounts are held, accounts will be considered individually in respect of balances and credits received and will not be aggregated when assessing whether a fee is payable.

first direct debit card

Using your card abroad

General: Any foreign currency debit card payments or cash withdrawals abroad are converted to Sterling by VISA or MasterCard (as appropriate) using the VISA or MasterCard (as appropriate) Payment Scheme Exchange Rate Applying on the day the conversion is made. Details of the current wholesale market exchange rates can be obtained by calling us on the following numbers in the UK: 03 456 100 100 (Text-phone 03 456 100 147) or from abroad +44 113 234 5678 (Text Relay +44 151 494 1260).

For all non-Sterling (foreign currency) transactions, including cash withdrawals, first direct will charge a fee of 2.75% of the amount of the transaction. This fee will be shown as a separate line on your statement as a 'non-Sterling transaction fee'. We will deduct the payment from your account once we receive details of the payment from the card scheme, at the latest, the next working day.

Using Cash Machines Abroad: When using cash machines abroad, in addition to the non-Sterling transaction fee (described above), we will also charge an ATM transaction fee: currently 2% (minimum £1.75, maximum £5.00). If you are a First Directory customer, you will only be charged the non-Sterling transaction fee and will not be charged the ATM transaction fee (applicable to the account the First Directory fee debits from).

Please be aware that some cash machine operators may also apply an additional charge for withdrawals made from their cash machines, and this will be advised on screen at the time of withdrawal.

Overdraft service

You can request an overdraft, or an increase to an existing overdraft limit, on your 1st Account (but not on a savings account) by either:

  • making a formal request, that is, you ask us for and we agree to provide you with, an overdraft or an increase to an existing overdraft limit before you authorise any payments or withdrawals from your account that, if made by us, would cause your account to go overdrawn or over an existing overdraft limit;

    or

  • by making an informal overdraft request which happens when we agree to lend you money to cover a payment from your 1st Account and either:
    • the balance on your 1st Account exceeds your formal overdraft limit; or
    • your 1st Account goes overdrawn and you don't have a formal overdraft limit in place.

We may charge an Informal Overdraft Usage Fee for any day your Account is in informal overdraft.

Daily Informal Overdraft Usage Fee

We may charge you an Informal Overdraft Usage Fee of £5 on any day your 1st Account is in informal overdraft.

We will not charge an Informal Overdraft Usage Fee if:-

  • covering funds are paid in before the end of the day
  • your Account is in informal overdraft by £10 or less:
  • your Account has been in informal overdraft for more than 30 consecutive days.

We will not charge:-

  • more than £80 in Daily Informal Overdraft Usage Fees in a charging month, or
  • more in Daily Informal Overdraft Usage Fees than the maximum amount your Account has been in informal overdraft during a charging month
  • Daily Informal Overdraft Usage fees if your 1st Account is in informal overdraft because an overdraft charge or interest has been deducted.

A charging month normally starts on the day in the month you originally opened your account.

Before we deduct overdraft interest and overdraft charges, we will give you at least 14 days notice of the amount to be deducted.

Please note that in addition to the above we operate some discretionary policies as to how charges (including overdraft usage fees and overdraft interest rates) apply to overdrafts.

  1st Account

Stopping a cheque

£7.00
Free if under £10.00

Disputed debit/credit card transaction
(no charge if first direct error)

£10.00

Copy of a cheque/credit

Free

Special presentation of a cheque

£10.00

Status Enquiry (including VAT)

£10.72

UK bank draft
A different charge may apply if collected from a HSBC Bank branch

£20.00

Inward payments received from banks within UK:
- in Sterling
- in currency above £100 equivalent


Free
£8.00

The issue of an indemnity for a lost share certificate/dividend warrant and sundry items

0.5% of the value, minimum £50

Branch payment cheque (drawn on Savings Accounts)

£10.00

Duplicate Statements (per statement); on e-Savings and Everyday e-Saver Account

£2.50

Duplicate credit card Statements (per statement)

£5.00

Interim Statements (charges per month):
Additional monthly/3 weekly
Fortnightly
Weekly
Daily


£1.00
£2.00
£4.50
£20.00

Autotransfers
(only available to existing Autotransfer customers from 1 November 2007). Cost dependent on your requirements - please ask us for details

Travel

Foreign and Travel Services  
Travel Money
- online
- telephone

£3.95 postage fee for orders under £250
2% of order value (min £3)
International bank drafts:
Up to £100 in value
Over £100 in value

£15.00
£20.00

Euro drafts

A different charge may apply if collected from a HSBC Bank branch.

£20.00
Inward payments received from banks abroad in Sterling above £100 £6.00

Inward payments received from banks abroad in currency above £100 equivalent

(payments up to 50,000 euros or 500,000 Swedish Krona from a country in the EU will be received free of charge provided the BIC and IBAN numbers are provided with the payment).

£8.00
Sterling and currency cheques drawn abroad paid into accounts - negotiated/collected
- up to £250 in value
- over £250 in value


£7.00
0.5% (min £10, max £50)
Euro cheques flat fee £7.00
Emergency transfer overseas using Western Union £12.00 - £15.00

Payments

Payment types Telephone Banking Post

Electronic Fund Transfers

£25.00 £25.00

SEPA payments - all destinations

£4.00 £4.00

Priority Payments - to another HSBC account

£10.00 £10.00

Priority Payments - to non-HSBC accounts

£25.00 £25.00

These charges will be deducted from your account when you ask for the service. We may make a charge for any enquiries we receive in respect of each payment instruction, whether made by you or another person. We will not charge you if we have made an error. We will advise you of the charge before we start investigations on your behalf.

If you provide us with incorrect information, and you ask us to try to recover the payment, we may charge you for this service. We will give you the details of our charges before we try to recover the payment. The recipient's bank may also charge you if this happens.

For some payments we may also deduct from your account charges made by agents, intermediary banks and the recipient's bank, as agreed with you in the first direct Terms.

Currency cut-off times

When you make a Priority Payment or SEPA payment, currency cut-off times will apply. The main European currency cut-off times are set out in the table below. If you are making a payment to a country that is not listed, you can call us on the usual numbers to find out if there is a cut-off time and what it is.

Currency Currency cut-off time
Euro 15.30
Sterling 15.30
Bulgarian BGN 16.30
Czech Republic CZK 16.30
Denmark DKK 16.30
Estonia EEK 16.30
Hungary HUF 16.30
Iceland ISK 16.30
Latvia LVL 16.30
Liechtenstein CHF 16.30
Lithuania LTL 16.30
Norway NOK 16.30
Poland PLN 16.30
Romania RON 16.30
Sweden SEK 16.30

All cut-off times quoted refer to time in London


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