Managing Your Business

International Business Accounts

You need strategies and solutions to help you navigate an uncharted environment
Contact us
If you do business overseas, our choice of specialist account options could give you essential support in key areas such as importing and exporting, foreign currency and international payments.

At a glance

  • 4 different foreign currency account options
  • Available in any tradeable currency
  • Reduce the risks associated with foreign exchange

Key benefits

Select the type of account that best suits your business needs


Choose any tradeable currency and simplify foreign currency dealings


Avoid the cost of converting currency


Can be easier and cheaper than setting up and managing an account in a foreign country


View balances online with Business Internet Banking


Larger businesses can view statements and make electronic payments direct to your overseas suppliers via HSBCnet


Your choice of 4 accounts

SUMMARY BOX

International Instant Access Savings Account

What is the interest rate?

This account is set up on the basis there are different tiers of interest rate. Normally, the interest rate paid depends on how much you deposit in your account, however, at the moment, because of market conditions, the rates are the same for some or all balances on all currencies and in some cases are 0%.

The applicable credit interest rates are as follows:

Product
Effective Date
Amount
Gross %
AER %
USD (Interest Paid half yearly)
01.06.2020
2,500,000+
0.05
0.05
USD (Interest Paid half yearly)
01.06.2020
1,000,000+
0.05
0.05
USD (Interest Paid half yearly)
01.06.2020
500,000+
0.05
0.05
USD (Interest Paid half yearly)
01.06.2020
250,000+
0.05
0.05
USD (Interest Paid half yearly)
01.06.2020
Up to 249,999
0.05
0.05
Product
Effective Date
Amount
Gross %
AER %

EUR One Euro Account
At present no credit interest is paid.

01.10.2012
3,000,000+
0
0

EUR One Euro Account
At present no credit interest is paid.

01.10.2012
1,000,000+
0
0

EUR One Euro Account
At present no credit interest is paid.

01.10.2012
500,000+
0
0

EUR One Euro Account
At present no credit interest is paid.

01.10.2012
250,000+
0
0

EUR One Euro Account
At present no credit interest is paid.

01.10.2012
Up to 249,000
0
0
Product
Effective Date
Amount
Gross %
AER %

Australian dollar (AUD)

10.03.2009
920,000+
0.5
0.5

Australian dollar (AUD)

10.03.2009
460,000+
0.25
0.25

Australian dollar (AUD)

10.03.2009
92,000+
0
0

Australian dollar (AUD)

10.03.2009
46,000+
0
0

Australian dollar (AUD)

10.03.2009
6,000+
0
0
Product
Effective Date
Amount
Gross %
AER %

Canadian dollar (CAD)

10.03.2009
850,000+
0.05
0.05

Canadian dollar (CAD)

10.03.2009
400,000+
0
0

Canadian dollar (CAD)

10.03.2009
85,000+
0
0

Canadian dollar (CAD)

10.03.2009
40,000+
0
0

Canadian dollar (CAD)

10.03.2009
5,000+
0
0
Product
Effective Date
Amount
Gross %
AER %

Danish Krone (DKK)

11.02.2013
4,420,000+
0
0

Danish Krone (DKK)

11.02.2013
2,110,000+
0
0

Danish Krone (DKK)

11.02.2013
422,000+
0
0

Danish Krone (DKK)

11.02.2013
211,000+
0
0

Danish Krone (DKK)

11.02.2013
25,000+
0
0

Japanese yen (JPY)

At present, no credit interest is paid
Product
Effective Date
Amount
Gross %
AER %

New Zealand dollar (NDZ)

10.03.2009
1,120,000+
0.75
0.75

New Zealand dollar (NDZ)

10.03.2009
610,000+
0.5
0.5

New Zealand dollar (NDZ)

10.03.2009
122,000+
0
0

New Zealand dollar (NDZ)

10.03.2009
61,000+
0
0

New Zealand dollar (NDZ)

10.03.2009
7,300+
0
0
Product
Effective Date
Amount
Gross %
AER %

Norwegian krone (NOK))

10.03.2009
4,600,000+
0.25
0.25

Norwegian krone (NOK))

10.03.2009
2,260,000+
0
0

Norwegian krone (NOK))

10.03.2009
452,000+
0
0

Norwegian krone (NOK))

10.03.2009
226,000+
0
0

Norwegian krone (NOK))

10.03.2009
27,000+
0
0
Product
Effective Date
Amount
Gross %
AER %

Swedish Krona (SEK)

10.03.2009
4,800,000+
0.1
0.1

Swedish Krona (SEK)

10.03.2009
2,400,000+
0
0

Swedish Krona (SEK)

10.03.2009
480,000+
0
0

Swedish Krona (SEK)

10.03.2009
240,000+
0
0

Swedish Krona (SEK)

10.03.2009
28,000+
0
0

Swiss franc (CHF)

At present, no credit interest is paid

If your credit interest rate for a currency goes below zero, we may charge you a negative interest rate.

Can the Bank change the interest rate?

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

Favourable changes

We’ll make the change immediately and tell you about it once the change has been made.

Unfavourable changes

  • Small Business/Business Banking Customers – We’ll let you know at least two months before we make the change
  • Corporate Banking Customers and Customers in Channel Islands/Isle of Man – We'll make the change immediately, whether favourable or not, 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: USD

Initial deposit

Interest rate

Interest earned

Total balance at the end of the 12 months

USD1,000
0.05% AER (0.05% Gross)
USD0.50
USD1,000.50

For the purpose of this calculation, it is assumed:

  • Initial deposit of $1,000
  • No additional deposits and/or withdrawals are made during the 12 months.
  • No change to the interest rate during the 12 months.
  • Interest is paid semi-annually

Example 2: CAD

Initial deposit

Interest rate

Interest earned

Total balance at the end of the 12 months

CAD1,000,000
0.05% AER (0.05% Gross)
CAD500.06
CAD1,000,500.06

For the purpose of this calculation it is assumed:

  • Initial deposit of CAD1,000,000.
  • No additional deposits and/or withdrawals are made during the 12 months.
  • No change to the interest rate during the 12 months.
  • Interest is paid semi-annually.

Example 3: NOK

Initial deposit

Interest rate

Interest earned

Total balance at the end of the 12 months

NOK5,000,000
0.25% AER (0.25% Gross)
NOK12,507.81
NOK5,012,507.81

For the purpose of this calculation it is assumed:

  • Initial deposit of NOK5,000,000.
  • No additional deposits and/or withdrawals are made during the 12 months.
  • No change to the interest rate during the 12 months.
  • Interest is paid semi-annually.

How do I open and manage my account?

Eligibility:

If you do not have a Relationship Manager, you will need a Sterling Business Account (current or savings) before you can open an international instant access savings account.

How to open the account:

Call us today on 03457 60 60 60 to open the account over the telephone. A Business Specialist will be able to discuss this further.

Or if you prefer to speak to someone in branch this can also be arranged, an appointment can be made by calling 03457 60 60 60.

Minimum/Maximum balance:

  • No minimum deposit
  • 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. No notice is required.

Additional Information

You will be charged an annual fee for the account. For details on fees and charges please refer to the Business Price List on our website business.hsbc.uk, in our branches or by calling 03457 60 60 60.

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. (Government lending schemes are subject to different limits.)
  • 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 Customer means any business customer whose accounts are held with us in the UK, which isn’t a Small Business Banking or a Business Banking Customer.

It is important to note that rates of currency exchange can fluctuate and change on a daily basis. Changes in rates of currency exchange will directly impact the relative value of your currency deposit which will decrease or increase accordingly.

International Fixed Term Account

What is the interest rate?

We'll pay credit interest on the deposit at a fixed rate on the maturity date - these are specified in the acknowledgment we send you. We’ll calculate your credit interest daily on your cleared balance and pay it into your deposit when it matures.

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 will be priced at the prevailing interest rate.

What would the estimated balance be after 12 months based on a $10,000 deposit?

Initial deposit

Interest rate

Total balance at the end of the 12 months

$10,000
0.20% AER (0.20% Gross)
$10,020.00

For the purpose of this calculation it is assumed:

  • Agreed negotiated credit interest: 0.20% (for indication purposes only)
  • Initial deposit of $10,000
  • 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 instant access savings account) and a International business account (current or savings) in the same currency as the term deposit before you can open this deposit (and must hold such account for as long as you have this deposit).

How to open the account:

Book an appointment at one of your local branches by calling Business Telephone Banking, on 03457 606 060, or by booking directly with the branch.

Minimum/Maximum balance:

  • Minimum deposit limit:
US$10,000 (or the equivalent) for deposits in US dollars, Canadian dollars, euros, Japanese yen or Swiss francs
US$15,000 (or the equivalent) for deposits in other currencies
  • No maximum balance limit (but once opened, you can't add more money to it)

How to manage the account:

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

Can I withdraw money?

  • You can withdraw the full amount of the deposit before it matures, as long as it’s less than £50,000 (or currency equivalent)
  • You can’t withdraw part of the money from a deposit
  • You can’t withdraw a deposit for £50,000 or more (or currency equivalent) before it matures
  • We charge a minimum fee of US$260 or EUR220 (or the US dollar equivalent) for early withdrawals (subject to change for new and renewed deposits, but not for any deposits you already have)

When your fixed deposit matures:

  • You can move all or some of the money to another account in the same name and currency; or
  • Renew the deposit

If you haven't given us any instructions about what to do at least 2 working days before maturity, we'll renew it for the same length of time, at the then current interest rate.

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 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. (Government lending schemes are subject to different limits.)
  • 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 Customer means any business customer whose accounts are held with us in the UK, which isn’t a Small Business Banking or a Business Banking Customer.

It is important to note that rates of currency exchange can fluctuate and change on a daily basis. Changes in rates of currency exchange will directly impact the relative value of your currency deposit which will decrease or increase accordingly.

Important information

Everything you need to know about our business current accounts

Read a copy of our current price list

Additional conditions for international fixed term deposits

Help and support

Optimising your financial supply chain

As your international sales grow, your financial supply chain will become more complex. How can you best manage it?

Know your trading partners

Whether trading at home or overseas, it is vital to find out as much as possible about potential trading partners.

Insights

Explore our industry insights and banking capabilities in a simpler way

Need help?

Get in touch to learn more about our banking solutions