Business Money Market Account

If you have savings or surplus funds of over £5,000, you could take advantage of UK money market interest rates with one of our tailored savings accounts.

At a glance

  • For savings or surplus funds of £5,000 or more (minimum terms apply)

  • Choice of 3 accounts - Call Account(instant access), Notice Account or Fixed Account

  • Keep track of your investments on-line, including transfer functionality for all Call/Notice accounts*

  • Transfer call and notice account balances online between 8am and 6pm Monday to Friday

  • No maximum investment limit

  • You could take advantage of UK money market interest rates

Apply for a Business Money Market Account

Call us on

0345 850 1155

Lines are open 8am to 5pm Monday to Friday, excluding public holidays

Key features and benefits of our accounts

Lines are open 8.00am to 5.00pm, Monday to Friday (except Public Holidays). To help us continually improve our service and in the interests of security, we may monitor and/or record your telephone calls with us.

Call account Notice account Fixed account
Minimum Investment £50,000 £50,000 £250,000 less than 7 days
£50,000 7 days to 3 months
£5,000 3 months to 5 years
Maximum Investment No upper limit No upper limit No upper limit
Interest rate Variable



Calculated daily

Paid in July and January or interest can be paid monthly or daily
Variable



Calculated daily

Paid in July and January or interest can be paid monthly
Interest fixed at start of term

Paid at maturity or upon anniversary for terms greater than 1 year. If deposit is over 6 months, interest can be paid monthly.
Period of investment No minimum or maximum period 7 days
14 days
1 month
3 months
6 months
Choose from one day to 365 days, 2, 3, 4 or 5 years
Instant Access Yes, no charge Yes, subject to a fee No, withdrawals are not permitted before expiry of term
Statements Issued when interest is paid, except for daily interest accounts where they are issued monthly Issued when interest is paid Issued annually

SUMMARY BOX

ACCOUNT NAME: BUSINESS MONEY MARKET CALL & NOTICE ACCOUNTS

What is the interest rate?

These accounts have variable credit interest rates that can change daily. You can find out the current rates by contacting the Money Market Office on 0345 850 1155 or GMCC.money.market@hsbcgroup.com

Deposits for Call Accounts can be:

  • Standard deposits, monthly interest deposits or daily interest deposits

Deposits for Notice Accounts can be:

  • Standard deposits or monthly interest deposits

For standard deposits, we pay credit interest up to the end of June on 1 July and up to the end of December on 1 January each year.

For monthly interest deposits, we pay credit interest on the monthly anniversary of the day you opened your Account.

For daily interest deposits, we pay credit interest the day after we calculate it.

Interest goes into the Money Market account or paid directly to the linked sterling business account.

Can the Bank change the interest rate?

Yes, these accounts have variable interest rates that can change daily, so we won’t tell you about favourable or unfavourable changes to them.

What would the estimated balance be after 12 months based on a £1,000 deposit?

Initial deposit Interest rate Total balance at the end of the 12 months
£50,000 0.05% AER (0.05% Gross) £50,025.00

 

For the purpose of this calculation, it is assumed:

  • Agreed negotiated credit interest: 0.05% (for indication purposes only)
  • Initial deposit of £50,000
  • No additional deposits
  • No withdrawals
  • No change to the interest rate during the 12 months

How do I open and manage my account?

Eligibility:

You need a sterling business account (current or savings) before you can open a Business Money Market account.

How to open the account:

Open in branch, post, phone

Minimum/Maximum balance:

  • Minimum deposit of £50,000 for Call Accounts and Notice Accounts respectively
  • No maximum balance limit

How to manage the account: 

Once opened you can manage your account online, in branch or by phone.

Can I withdraw money?

Yes, you can make as many withdrawals as you like in line with clause 3.2 of the Business Money Market Account Additional Conditions.

For Call Accounts, no notice is required. For Notice Accounts, prior notice is required and we will charge a fee of £60 for immediate withdrawals where insufficient notice is given.

Additional Information

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 rate of interest if interest was paid and not compounded each year.

ACCOUNT NAME: BUSINESS MONEY MARKET FIXED ACCOUNT

What is the interest rate?

We pay credit interest at a fixed interest rate and the rate is set when you open your account. We calculate interest based on your available balance each day

  •  For fixed deposits that last 12 months or less, we’ll pay your credit interest when the deposit matures
  •  For fixed deposits that last more than 12 months, we’ll pay your credit interest yearly on the anniversary of the day you opened your account
  •  For fixed deposits that last 6 months or more, we can pay credit interest each month, on the same day of the month as you opened your account if you ask us to

Can the Bank change the interest rate?

No, once the deposit has been placed the rate will remain fixed for the duration of the deposit and subsequent reinvestments or renewals will be priced at the prevailing interest rate.

What would the estimated balance be after 12 months based on a £1,000 deposit?

Initial deposit Interest rate Total balance at the end of the 12 months
£50,000 0.10% AER (0.10% Gross) £50,050.00

 

For the purpose of this calculation, it is assumed:

  • Agreed negotiated credit interest: 0.10% (for indication purposes only)
  • Initial deposit of £50,000
  • No additional deposits
  • No withdrawals
  • No change to the interest rate during the 12 months

How do I open and manage my account?

Eligibility:

You need a sterling business account (current or savings) before you can open this account. 

How to open the account:

Open in branch, post, phone

Minimum/Maximum balance:

  • Minimum deposit

    £250,000 for fixed deposits of less than seven days
    £50,000 for fixed deposits of three months to five years

  • No maximum balance limit

How to manage the account: 

Once opened you can manage your account online, in branch or by phone.

Can I withdraw money?

You can’t withdraw part only, but you can withdraw the full amount of the deposit before it matures if less than £50,000 for a charge of £100 (subject to change for new and renewed deposits, but not for deposits you already have).

You can’t withdraw any of the deposit before it matures if you’ve invested £50,000 or more.

 When your fixed deposit matures:

  • We can transfer all or part of the money into a sterling business current or business instant access savings account with us, or
  • Reinvest all or part of the money in a new fixed deposit on the prevailing interest rate and term

If you haven't given us any instructions about what to do, we'll renew it for the same length of time and amount, at the prevailing interest rate and terms.

Additional Information

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 rate of interest if interest was paid and not compounded each year

Important information

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Apply for a Business Money Market Account

Call us on

0345 850 1155

Lines are open 8am to 5pm Monday to Friday, excluding public holidays

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