Stay on top of your money while you study
Open an account today
It's quick and easy to apply online.
What you'll get
- 24/7 customer supportGot a question? Get in touch. Call us 24 hours a day, any day of the year, and our customer service team will be happy to help. 2
- An easy way to pay matesNeed to split that taxi fare? You can do it easily in our app with Paym – all you need is your friend’s number.
What else is included?
Access to savings accounts
Build up a nice little nest egg. As a Student Account customer you can open a Regular Saver and Loyalty ISA. So as well as working for your future, you can save for it too.
Things you should know
Charges and overdraftsExpanded press enter to collapse Collapsed press enter to expand
Overdrafts and unarranged overdrafts
An overdraft lets you borrow money on your current account. An arranged overdraft is where we agree an overdraft limit with you. This can help in months when you have extra expenses.
An unarranged overdraft is when you make a payment that takes your account over your arranged limit or overdrawn when you don’t have an arranged overdraft in place.
We’ll always consider an unarranged request and make the payment if we can. Unarranged overdrafts may incur higher fees and result in declined transactions. We report account activity, including overdraft usage, to credit reference agencies. An unarranged overdraft lasting more than 30 days could have a negative impact on your credit rating.
Overdrafts are not suitable for long-term borrowing and usually result in interest.
If you take an arranged overdraft, you can later ask us to increase, reduce or remove your limit at any time online, by phone or in a branch.
If you end your overdraft you’ll have to repay any overdrawn amount and any interest owed. If you want to reduce your limit, you’ll first need to make sure you bring your borrowing down within the new limit.
To find out more, visit our overdrafts page where you can find out if you’re eligible and overdraft cost calculator.
Overdraft charges during your course or apprenticeship
We offer you a guaranteed interest-free arranged overdraft of £1,000 when you open your account. You can request an increase of up to £2,000 in year 2 and £3,000 in year 3, subject to status and how your account has been used.
Overdraft charges after you graduate
Once you complete your course, your account will change to an HSBC Graduate Bank Account. You may be eligible for an overdraft facility, of which £1,500 will be interest-free during your first year and £1,000 in your second year after graduation (subject to status and how your account has been used).
Any arranged overdraft above these amounts will be charged interest at 39.9% EAR variable. 3
Overdraft text alerts
If you’re going to go overdrawn, we provide a couple of tools to help make sure you know about it.
If you try to make a withdrawal at any HSBC cash machine that would take you over your arranged overdraft limit, you'll get an on-screen alert to let you know how much money you have available to withdraw.
We’ll send you overdraft text alerts if you’ve used or are due to use an arranged or unarranged overdraft on your account. This is to help you monitor your usage and let you know what action you can take to avoid interest.
If you don't provide your UK mobile number or let us know when you've changed it, we won't be able to send you these text alerts.
You can opt out of the arranged or unarranged texts at any time by phone, or by going into a branch.
Charges for using your debit card abroad
If you pay for something using your HSBC Visa debit card while you’re outside the UK, you’ll need to pay a ‘non-sterling transaction fee’ of 2.75%. So, for example, if you spent £100, you'd be charged a fee of £2.75.
If you withdraw money from an ATM, you’ll also need to pay a ‘cash fee’ of 2% (minimum £1.75, maximum £5) as well as the non-sterling transaction fee. So if you took out £100, you’d be charged a total of £4.75.
Any transactions you make will be converted into pound sterling (unless you choose to pay in local currency). To make sure your exchange rate is as competitive as possible, you’ll pay the exchange rate set by Visa.
Important account documentsExpanded press enter to collapse Collapsed press enter to expand
Who can apply?
How to apply
Services in our branches are currently limited because of the coronavirus outbreak. Unfortunately we are unable to offer new products or set up appointments at the moment.
We’re also receiving far more calls than usual, so our wait times are longer. Please only call us if it’s urgent, so we can help those most in need.
Apply in branch
What proof you'll need to bringExpanded press enter to collapse Collapsed press enter to expand
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Additional informationExpanded press enter to collapse Collapsed press enter to expand
1. Representative example (assumed arranged overdraft £1,200): 0% EAR variable, giving a representative rate of 0% APR variable. Back to 'What you'll get'
2. Our telephone, online and mobile banking services are open 24 hours a day subject to scheduled maintenance periods. To help us offer the best service, we may monitor and/or record your calls with us. Back to 'What you'll get'
3. EAR means effective annual rate. This is how all UK banks must show interest rates on their overdrafts, to make it easier for you to compare one bank’s overdraft with another. Please note that it doesn’t include any fees you might be charged in addition to interest. Back to 'Things you should know'
4. APR (Annual Percentage Rate) is the rate at which someone who is borrowing money is charged, calculated over a period of twelve months. It takes into account not just the interest, but also any other charges that may have to be paid and any interest free amount". Back to 'Things you should know'