Important Notes

The Terms include the Important Notes set out below. You should read them.

The information in this Site is based on our understanding of current law and Inland Revenue practice at the time of going to press. Future changes in legislation, tax levels and practice could affect the information in this Site.

If you're in the UK

In the UK, we are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors are covered by the scheme.

In respect of deposits an eligible depositor is entitled to claim up to the current FSCS limit for deposits. For joint accounts each holder is treated as having a claim in respect of their share, so for a joint account held by two eligible depositors, each depositor would have a claim up to the FSCS deposit limit and so the maximum amount that could be claimed in total would be twice the current FSCS limit. The FSCS deposit limit relates to the combined amount in all the eligible depositor's accounts with the bank, including their share of any joint account, and not to each separate account.

HSBC and First Direct are both trading names of HSBC UK Bank plc and customers who hold deposits under both trading names will only be eligible for one claim of up to the current FSCS deposit limit in total.

For further information about the scheme (including the current limits, amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website or call the FSCS on 020 77414100 or 0800 678 1100. Please note only compensation related queries should be directed to the FSCS.

If you're in the Channel Islands or the Isle of Man

In the Channel Islands and the Isle of Man, money in bank accounts isn't protected by the UK Financial Services Compensation Scheme (FSCS).

In Jersey, we're a participant in the Jersey Bank Depositors Compensation Scheme. The Scheme offers protection for eligible deposits of up to £50,000. The maximum total amount of compensation is capped at £100,000,000 in any five-year period. Full details of the scheme and the banking groups covered are available on the States of Jersey website: or on request.

HSBC Bank plc, Guernsey branch is a participant in the Guernsey Banking Deposit Compensation Scheme. The Scheme offers protection for 'qualifying deposits' of up to £50,000 subject to certain limitations. The maximum total amount of compensation is capped at £100,000,000 in any five-year period. Full details are available on the Scheme's website or on request.

On the Isle of Man, we're part of the Isle of Man Depositors Compensation Scheme which offers protection for 'eligible protected deposits' of up to £50,000 (which includes deposits by most individual persons but doesn't include trustees or nominees, for example). The Scheme covers £20,000 for most other people with deposits (subject to certain rules and limitations set out in the Scheme). The maximum total amount of compensation covered is £200,000,000 in any consecutive 10-year period.

If you'd like full details of the Schemes in Jersey, Guernsey or the Isle of Man, go to one of our branches.

M&SBank is a trading name of Marks & Spencer Financial Services plc and is part of the HSBC Group. Deposits held with M&S Bank will be covered separately to deposits held with HSBC UK Bank plc, under the Financial Services Compensation Scheme, as both organisations are covered by separate banking licences. Therefore, customers who hold deposits with both M&S Bank and with HSBC or First Direct would be eligible to claim up to £85,000 from both companies (up to £170,000 in total).

We reserve the right to decline an account application. Our credit facilities are subject to status and our mortgages are also subject to security. With a mortgage or other secured loan a charge will be taken over the property.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or other loan secured on it.

The value of most investments and any income they generate can go down as well as up, meaning you may not get back the full amount you invested.

This may in part be caused by exchange rate variations where overseas investments are held. Investors are advised to consider carefully the special risks of investing in emerging market securities. Investments in emerging markets are by their nature higher risk and potentially more volatile than those in more established markets.

Most investments should be considered as a medium-to long-term commitment, meaning you should be prepared to hold them for at least five years.

Some investments have a fixed term or may not be accessible until you reach your retirement age. For products with a fixed term you may get back significantly less than originally invested if you make an early withdrawal.

The value of any tax benefits described depends on your individual circumstances. Tax rules may change in the future.

With variable rate savings accounts, the interest paid by the bank will alter from time to time. This means that when the interest rate rises, the interest you receive will increase, but it will become less when the interest rate falls.

Gross: The rate before the deduction of tax on interest on savings.

Net: The rate after the deduction of tax on interest on savings, currently 20%. Higher rate taxpayers will have an additional liability.

AER: Annual Equivalent Rate, the true gross return taking into account the frequency of interest payments.

Private clients services are provided by HSBC Trust Company (UK) Limited.

HSBC UK Bank plc is a member of the HSBC Bank marketing group. We sell life assurance, pensions and collective investment schemes and advise only on our own range of these products.

Further information and written details about our product and services are available from any of our branches or from Customer Information, PO Box 757, Hemel Hempstead, Hertfordshire HP2 4SS.

Governing law

The Terms are governed by and interpreted in accordance with the laws of England and Wales and the courts of the above jurisdiction will have non-exclusive jurisdiction in respect of any dispute which may arise in connection with the Terms or your use of the Site.

Should you wish to contact HSBC UK Bank plc please refer to the Contact Us menu which can be found on each page of this site.