HSBC Personal Bank Account

Banking gets truly personal with an HSBC Personal Banking Account! 

This current account is a rewarding banking product that comes with a complimentary debit card. Remarkably, the account also makes it easy to apply for a Cashback Credit Card. 

So if you plan to open an HSBC Personal Banking account in the UAE, this page will sail you through its features and benefits and all other key details. 

Read on to find out more!

Major Reasons to Apply for an HSBC Personal Banking Account

The key reasons to apply for an HSBC Personal Banking Account are the services you get! These include-

• International and domestic transfers via online banking or Global Money Transfers service on the HSBC UAE app 
• Open an account in your choice of currency – USD, AED, GBP, RMB, and EUR 
• Avail of an optional overdraft facility of up to 2 times your salary or AED 10,000 (whichever is lower), with no charges or interest on the first AED 500 
• Complimentary cash withdrawals from any ATM in the UAE and 1 complimentary balance inquiry (per month) at an ATM of any bank 

Features and Benefits of an HSBC Personal Banking Account

Here are the top features and benefits of the HSBC Personal Banking Account-

• Complimentary international Visa debit card that’s accepted at more than 25 million global outlets
• Round-the-clock online banking, SMS alerts, phone banking, and mobile banking 
• Complimentary chequebook
• Get an HSBC Cashback Credit Card with incredible offers and deals including-
  • Free access to the HSBC ENTERTAINER app
  • Up to 5% cashback on fuel and up to 2% cashback on groceries and education upon spending a minimum of AED 3,000 per month
  • Up to 0.5% cashback on all other spends upon spending less than AED 3,000 in a month
  • ‘Buy 1 Get 1 Free’ offers on movie tickets per month, and a 20% discount on food and beverages at movie theatres across the UAE 
• Pay utility bills via online and mobile banking
• Salary transfer required

Charges Associated with HSBC Personal Banking Account in the UAE

Check out the table below for the fees associated with the HSBC Personal Banking Account in the UAE-

Fees	Amount
Account Opening Fee	Free
Minimum Average Monthly Balance Required in Local Currency	AED 3,000
Minimum Average Monthly Balance in Foreign Currency	USD 500/GBP 500/CNY 5,000/EUR 500
Monthly Charges for Not Maintaining the Minimum Average Monthly Balance in Local Currency	AED 25 (AED 26.25 inclusive of VAT)
Monthly Charges for Not Maintaining the Minimum Average Monthly Balance in Foreign Currency	USD/GBP/EUR 5 (5.25 inclusive of VAT)
Service Fee	None
Account Closure Fee (if closed within 6 months of opening account)	AED 100 (105 inclusive of VAT)
Standing Instruction Set Up Fee (via branch)	AED 50 per instruction (AED 52.5 inclusive of VAT)
Fine for Insufficient Funds for Standing Orders	AED 25 (AED 26.25 inclusive of VAT)
Account Balance Letter Charges	AED 50 per instruction (AED 52.5 inclusive of VAT)
No Liability Certificate	AED 50 per instruction (AED 52.5 inclusive of VAT)
Release or Clearance Letter	AED 50 per instruction (AED 52.5 inclusive of VAT)
Liability Letter Issued to Financial Institutions or Government/Embassies	AED 50 per instruction (AED 52.5 inclusive of VAT)
Dormant Account Fee	No Fee
Account Statement (per agreed cycle)	No Fee
Account Statement (outside the agreed cycle)	AED 25 (AED 26.25 inclusive of VAT)
Teller Services	6 monthly transactions without any fees — AED 10 (AED 10.5 inclusive of VAT) for every additional transaction
Bulk Cash Deposit and Withdrawal at the Teller Counter	Free

Eligibility Criteria to Apply for HSBC Personal Banking Account

Here are the eligibility criteria to apply for an HSBC Personal Banking Account-

• Age - 18 years or older
• Nationality - UAE Nationals and Residents

Note: If you are a UAE resident or have residency in process, you need to fulfill one of the criteria mentioned below:

• Minimum monthly average balance - AED 3,000 
• Minimum monthly salary transfer - AED 5,000

Documents Required to Apply for HSBC Personal Banking Account

To apply for an HSBC Personal Banking Account in the UAE, keep a few documents ready as per the category that you fall in -

For UAE Residents

• Emirates ID Copy
• Proof of Income – Salary certificate, last 3 months’ bank statements, company’s last 3 months’ bank statements (for self-employed individuals)
• Passport
• UAE Residence Proof – Rental agreement, utility bill, title deed or letter from employer, Ejari Number

For New to the UAE

• Passport Copy
• Proof of Income – Salary certificate, last 3 months’ bank statements, company’s last 3 months’ bank statements (for self-employed individuals)

For Joint Account Applicants 

• Original Passport
• Valid Residence Visa (for non-GCC national applications) 
• Original Emirates ID
• UAE Residence Proof – Rental agreements, employment letter, utility bill, title need
• Original Labour Card or Work ID (for female applicants on the sponsorship of their husband or father)
• Original Trade Licence (for self-employed individuals)
• Salary Transfer Letter (for salary transfer customers)

Open an HSBC Personal Banking Account Online via Policybazaar.ae

You can easily open an HSBC Personal Bank Account online in just a few clicks via Policybazaar UAE. 

The website hosts plenty of current bank accounts in the UAE — you can compare the top options like the HSBC Personal Banking Account and get the best account for yourself.

Find out more about HSBC Personal Banking Account in the following frequently asked questions section.

FAQs