Client Currency Account

If you hold money for clients in Euros or US Dollars, this flexible business account gives you instant access.

At a glance

  • Instant access to funds

  • No minimum balance

  • Choose to pool or separate clients' deposits



What is the interest rate?

Credit interest is calculated on a daily basis and is paid quarterly (in March, June, September and December) unless we agree otherwise. We’ll pay you credit interest at the applicable percentage below the relevant currency base rate. We’ll tell you what the applicable percentage is when you open your Account (unless we’ve already agreed it with you).

You can find the internal currency base rate for USD or EUR currency by contacting your usual HSBC representative.

We may ask you to pay credit interest to us, if the interest rate for the relevant currency is below zero.

Can the Bank change the interest rate?

If we've agreed the applicable percentage with you, we won't change it unless you agree first. Otherwise we may change our interest rate at any time.

Our currency base rates are variable interest rates that can change daily, so we won't tell you about changes to them in advance.

If your interest rate is based on a publicly available interest rate (such as the Bank of England base rate for GBP and Fed Fund target rate for USD), we’ll pay the published rate plus or minus a set margin for your account. We’ll change your account’s interest rate within one Working Day after the published rate changes. We won’t tell you in advance, but the new rate will appear on your next bank statement.

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
£1,000 0.03% AER (0.03% Gross) £1,000.37
0.03% AER (0.03% Gross)
0.04% AER (0.04% Gross)


For the purpose of this calculation, it is assumed:

  • Agreed credit interest: Currency base rate - 0.275% = 0.10% - for indication purposes only
  • Initial deposit of £1,000
  • No additional deposits
  • No withdrawals
  • No change to the interest rate during the 12 months

How do I open and manage my account?


Account eligibility is limited to the following businesses:

  • Credit and Financial Institutions which have permission to hold client money from the FCA (Financial Conduct Authority)
  • Auditors, insolvency practitioners, external accountants, tax advisers, notaries, conveyancers or independent legal professionals that are regulated by a designated professional body
  • Real Estate businesses, estate agents, property managers, or loss adjusters that are regulated by specific bodies and attest to a number of requirements
  • Local Authorities for example county councils, unitary authorities in shire areas, London boroughs and metropolitan boroughs

How to open the account:

Open in branch

Minimum/Maximum balance:

  • No minimum balance
  • No maximum balance

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 3.2.2 of the Client Accounts Additional Conditions. No notice is required.

Additional Information

  • You must only use your Account to hold money on behalf of your clients – and you must not use it to make payments for your own business
  • You will be charged a monthly tariff fee of £5 (or currency equivalent) every month
  • You can only hold money in your Account in whichever currency it’s in (either US dollar or euro)


  • 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

Rates correct as at 26.10.16

Important information

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