Client Deposit Account

SUMMARY BOX

Account Name: Client Deposit Account

The applicable credit interest rates are as follows:

Credit interest is calculated on a daily basis and paid monthly.

Can the Bank change the interest rate?

Yes, the Bank can change the interest rates at any time in line with the Business Banking Terms and Conditions.

Favourable changes

We’ll make the change immediately.

Unfavourable changes

• Business Banking customers – We’ll let you know at least two months before we make the change.
• Corporate Business Customers: We’ll make the change immediately, and tell you about it once the change has been made.

What would the estimated balance be after 12 months based on a range of deposits?

Example 1 – Single deposit, no withdrawals

For the purpose of this calculation it is assumed:

• Initial deposit of £1,000
• No additional deposits
• No withdrawals
• No change to the interest rates during the 12 months
• Interest is paid monthly

Example 2 – Larger deposits

If you deposit enough, you can earn more. Based on you paying in the following deposits on day 1 and making no withdrawals or additional deposits, your estimated balance after 12 months would be as follows (but if you make withdrawals, the interest rate you earn goes down):

Eligibility:

Small Business Banking and Business Banking Customers

This account must only be used to hold money on behalf of your clients not to make payments for your own business. You are responsible for carrying out due diligence on your clients that might be necessary to comply with all relevant laws and regulations.

Definitions:

• AER stands for annual equivalent rate. A notional rate which illustrates what the gross rate would be if interest was paid and compounded each year
• Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.
• Small Business Banking customers are typically small enterprises (including not-for-profits) with borrowing needs of up to £100k. Their everyday transactional banking products and needs wouldn’t require the support of a Relationship Manager.
• Business Banking customers are typically small and medium sized enterprises (including not-for-profits) with product needs that require support through a dedicated Relationship Manager, who work alongside our specialist teams. Our Relationship Managers can provide transactional banking and funding solutions of over £100k (both domestically and internationally).
• Corporate Banking customers are any business customer whose accounts are held with us in the Channel Islands or Isle of Man.

Are you an existing HSBC business customer?

Please fill out the enquiry form and a member of our team will be in touch.

Are you new to HSBC?

Please fill out the account opening form and a member of our team will be in touch.