*New customers only. Includes all account cardholders subject to ‘Cashback Offer Terms and Conditions.’ Cashback paid to account on or before 31 August 2020.
Representative example: based on an assumed limit of £1,200, our 15.9% rate p.a. for purchases gives a representative rate of 22% APR variable.
The information contained in this table summarises key product features and is not intended to replace any Agreement Terms.
|APR||Representative 22% APR variable|
|Interest rates||Monthly Rate||Annual Rate|
|Cash Advances||1.238%||15.9% variable|
|Interest free period||Up to 56 days (38 days if you pay in full each month by Direct Debit) on Purchases and Cash Advances if you pay your whole balance in full and on time.|
|Interest charging Information||You will not pay interest on new purchases if you pay your balance in full and on time. Otherwise the period over which interest is charged will be:|
|Purchases||Date debited to your account||Paid in full|
|Cash Advances||Date debited to your account||Paid in full|
|Allocation of payments||If the amount you pay in a month is less than the full amount you owe, we will apply the amount you pay in the following order:
We will apply your payment first to amounts on your account which we charge at the highest interest rate followed by amounts we charged at lower rates. In each case, interest and charges are paid off first.
If some amounts are charged at the same interest rate, we will apply your payment to the oldest amounts first.
|Minimum payment||The sum of:
|Maximum||Subject to status|
|Charges||Cash Advances||2.99% handling fee, minimum £3|
|Default charges||Late payment||£12|
|Foreign Usage||Visa rates can be found at www.visaeurope.com/en/cardholders/exchange_rates.aspx
Dependent upon the type of transaction you undertake one or more of the following charges will apply:
|Fees||Annual fee £32
No annual fee for the first year after the card is opened
The links on this page will open a new browser window and may:
Applications are subject to status. Terms and conditions apply.
Availability of Balance Transfer facilities is at the discretion of HSBC.
1After the initial 12 month period, the annual charge for each Commercial Card is †£32.
Q. Who can apply for a Commercial Card?
A. Any business with an HSBC Business Current Account is eligible to apply for a card. Schools and Charities can apply if they are authorised to borrow. (Application is subject to status. Terms and Conditions apply).
Q. Can I use my Commercial Card to withdraw cash?
A. Yes, as long as this is agreed by the business, cardholders are able to withdraw up to £500 per day in cash, subject to a cash-handling fee of 2.99% (minimum £3.00). Cash advances abroad may be subject to local currency regulations.
Q. Is there a way for me to use the card and not pay any interest?
A. Absolutely! If you’re set up on the minimum Direct Debit option, you get up to 56 days, interest-free, on your purchases (subject to the balance being paid in full within 25 days of the statement issue).
Customers on the full Direct Debit option can get up to 38 days, interest-free.
Q. Are there any card fees?
A. The annual fee for each card is £32. We will waive this fee for the first year after account opening. For information on interest rates and other charges, please see rates and charges.
Q. Can I view my statements online?
A. Yes, up to 6 months of statements can be viewed online using Business Internet Banking. Find out more about Business Internet Banking.
Q. Am I protected against fraudulent transactions?
A. Definitely. Your card’s Zero Fraud Liability protection will cover you in the following instances*:
You also have access to risk assessment tools and a dedicated identity theft helpline. These are offered by HSBC, in partnership with PrivacyGuard®.
Q. Can I use my Commercial Card online and for mail order purchases?
A. Yes, your card is a secure way of buying goods and services over the phone and on the internet. We use Verified by Visa® to help protect your card online. However please check that the site you are buying from is secure by looking for the closed padlock symbol.
Q. What is Verified by VISA ®?
A. Verified by Visa is designed to help prevent fraud, when you place an order on the internet you may be invited to register for the service. If you do not do so, as part of our fraud prevention measures we may not authorise further internet transactions with participating organisations.
Q. How do I make payments to my Commercial Card account?
A. Direct Debit. When your account is opened, you can choose between ‘minimum’ or ‘full repayment’ options. Accordingly, money must be taken from your HSBC business current account, 7 days after your statement date.
Q. What is the minimum monthly payment?
A. £5 or 3% (rounded up to the nearest pound) – whichever is higher. If your balance is less than £5, then the full amount will be due.
Q. How is the interest calculated on my Commercial Card?
A. Interest will be charged, daily, from the statement date until the outstanding balance has been fully repaid. If the balance hasn’t been cleared by the next statement date, interest will be charged at a monthly rate.
Q. What happens if I miss my payment date?
A. If you miss your payment date, a fee of £12 may be charged to your account. Interest will also be charged, daily, on the overdue balance until everything is paid in full.
A. If you keep missing your payment dates, your account might be suspended, and legal action may be taken in order to recover the outstanding amount.
Q. Can I cancel my Direct Debit?
A. No. A ‘minimum’ or ‘full repayment’ Direct Debit is part of the terms of your Commercial Card and must be from your HSBC business current account. Therefore, it cannot be cancelled.
However, you can change your mind about which direct debit option you would prefer. If this happens, please get in touch.
If you have any other questions about our Commercial Card, please contact us.
Open an HSBC Commercial Card account (Representative 22% APR variable) between 3 February 2020 and 30 April 2020 and each cardholder can get £15 cashback if they make 10 qualifying transactions by 30 June 2020.
For example: if a Commercial Card account was open with 3 cards then each cardholder will be eligible to receive £15 cashback subject to each cardholder making 10 eligible transactions by 30 June 2020.
Cashback will be paid on or before 31 August 2020. Subject to Cashback Offer Terms and Conditions.
We work with PrivacyGuard® to help protect and safeguard your business. You have access to a dedicated help-line for advice if you have any concerns about identity theft. You can also use the free online risk-assessment tool.
If you ever know about or suspect identity theft, please call PrivacyGuard® on 03456 072 0361
Want to assess the potential risks to your business? Click here
Our Zero Fraud Liability protects you against online transactions that have been made without your authority. If you issue cards to two or more employees, you are protected if the card is misused.
Reduce the chance of fraud with Verified by Visa when your business buys online at participating merchants.
State-of-the-art Fraud Detection System
This looks for any unusual activity on your account in order to help protect you from fraud.
We may contact you to check that transactions are genuine.
If your card is lost or stolen at home or overseas, we provide 24 hour world wide assistance.
Contact our team on:
Lost and stolen cards
UK (including Channel Islands and Isle of Man)
Telephone: 0800 032 7075 Textphone: 0800 028 35 16
Telephone: +44 1442 422 929