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HSBC Bonus Savings Account FAQs

HSBC Bonus Savings Account

Is there a minimum opening balance for the HSBC Bonus Savings Account?

No, there is no minimum opening or ongoing balance required for the HSBC Bonus Savings Account.

How do I set up a joint HSBC Bonus Savings Account?

To apply for a joint HSBC Bonus Savings Account, simply click on apply now and select 'Joint Account'.

How do I apply for a HSBC Bonus Savings Account?

You can apply online in under 10 minutes; it's fast, convenient and easy. Simply have your photo identification such as your driver’s license or passport handy. Apply now.

You can also apply for an HSBC Bonus Savings Account at any HSBC Branch or by calling us on 1300 131 605 (or +612 9005 8114 if calling from overseas) to apply over the phone with the help of one of our consultants - the phone service is available Monday to Friday from 8:00am to 8:00pm AEST.

If you are an existing HSBC customer with Online Banking, simply login and select 'Apply now' from the left hand menu and 'Express Apply'.

What fees apply to HSBC Bonus Savings Account?

No account specific fees apply for HSBC Bonus Savings Account and there is no monthly account fee; however, special services fees and charges may apply for selected services.

For full details, please refer to our Personal Banking Booklet (PDF, 1.50 MB).

What foreign currencies can I open my HSBC Bonus Savings Account in?

HSBC Bonus Savings Account is available in major foreign currencies, check in branch or view the latest list Online.

What is the HSBC Bonus Savings Account interest rate?

How is the interest on my HSBC Bonus Savings Account calculated?

Interest is calculated daily on the closing balance of your HSBC Bonus Savings Account, on balances up to AUD$5 million. Interest is payable monthly.

What is the HSBC Bonus Savings Account Monthly Bonus rate?

To help you reach your savings goals sooner, as an HSBC Bonus Savings Account customer you can receive a Monthly Bonus rate each month on balances up to AUD$5 million in AUD HSBC Bonus Savings Accounts. Simply ensure your balance is at least $300 higher (excluding interest) on the last business day of the month (compared to the first business day). It's our way of giving your savings a little extra boost. The Monthly Bonus rate is not available on foreign currency accounts.

What accounts can I link to my HSBC Bonus Savings Account?

You can transfer money instantly from your HSBC Bonus Savings Account to any HSBC Australia bank account, or you can transfer money to any Australian bank account.

If HSBC changes the HSBC Bonus Savings Account interest rate, will it apply to my HSBC Bonus Savings Account?

Yes. The HSBC Bonus Savings Account standard variable and Monthly Bonus rates are variable and if we change the rate it will be applied to your HSBC Bonus Savings Account from the effective date.

How can I access money in my HSBC Bonus Savings Account?

You can transfer money in AUD instantly from your HSBC Bonus Savings Account to any HSBC Australia bank account, or you can transfer money to any Australian bank account.

You can access your account via HSBC Branches, Phone, Online or Mobile Banking.

What happens if I can't increase my balance by $300 in a particular month?

We understand that things come up from time to time and that you may not be able to increase your balance by at least $300 (excluding interest) some months. While you won't qualify for the Monthly Bonus, you’ll still receive the standard variable rate. And because the Monthly Bonus eligibility is reviewed monthly, you have the opportunity for meeting the criteria the following month.

How do I qualify for the Monthly Bonus?

Simply ensure your balance is at least $300 higher (excluding interest) on the last business day of the month (compared to the first business day), to enjoy a Monthly Bonus on AUD HSBC Bonus Savings Account balances up to AUD$5 million.

If you miss increasing your balance by $300 or more (excluding interest) in one month you'll still receive our standard variable rate, and will have another opportunity to qualify for the Monthly Bonus rate the following month.

The Monthly Bonus rate is currently available on AUD HSBC Bonus Savings Accounts only.

Is the Monthly Bonus available on foreign currency HSBC Bonus Savings Accounts?

No, the Monthly Bonus is currently only available on AUD HSBC Bonus Savings Accounts.

Will the Monthly Bonus apply to my full balance?

The Monthly Bonus is applied to balances up to AUD$5 million.

No interest is payable on the portion of the balance over AUD$5 million.

When will the Monthly Bonus be applied?

Interest periods are defined as the period between the first business day of the month up to and including the day prior to the first business day of the following month. 

Interest is paid on the first business day of the month for the period prior (e.g. interest earnt for January will be paid on the first business day of February).

On your statement, you will see one interest payment which includes the standard variable rate and one payment for the Monthly Bonus (if applicable).