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Flexi Saver Accounts FAQs

Flexi Saver Account

Is there a minimum opening balance for Flexi Saver?

No, there is no minimum opening or ongoing balance required for the Flexi Saver account.

How do I set up a joint Flexi Saver account?

To apply for a joint Flexi Saver account, simply click on apply now and select 'Joint Account'.

How do I apply for a Flexi Saver 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 a Flexi Saver 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 Flexi Saver?

No account specific fees apply for Flexi Saver 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 Flexi Saver in?

Flexi Saver is available in major foreign currencies, check in branch or view the latest list Online.

What is the Flexi Saver interest rate?

How is the interest on my Flexi Saver calculated?

Interest is calculated daily on the closing balance of your Flexi Saver, on balances up to AUD$5 million. Interest is payable monthly.

What is the Flexi Saver Monthly Bonus rate?

To help you reach your savings goals sooner, as a Flexi Saver customer you can receive a Monthly Bonus rate each month on balances up to AUD$5 million in AUD Flexi Saver 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.

The Monthly Bonus rate will be applied the month after the balance increase.

What accounts can I link to my Flexi Saver?

You can transfer money instantly from your Flexi Saver to any HSBC Australia bank account, or you can transfer money to any Australian bank account.

If HSBC changes the Flexi Saver interest rate, will it apply to my Flexi Saver?

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

How can I access money in my Flexi Saver?

You can transfer money in AUD instantly from your Flexi Saver 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 Flexi Saver balances up to AUD$5 million the following month.

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 Flexi Saver accounts only.

Is the Monthly Bonus available on foreign currency Flexi Saver accounts?

No, the Monthly Bonus is currently only available on AUD Flexi Saver 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?

The Monthly Bonus rate is applied for the month after your balance increase and paid as a single payment along with your standard variable interest payment. Interest payments are generally made on the 28th day of each month. On your statement, you will see one interest payment which includes the standard variable rate and the Monthly Bonus (if applicable).

For example: During August your balance increased by $600 (excluding interest) from the first to the last business day of the month. Therefore you qualify for the Monthly Bonus during September, with the interest being calculated at the Monthly Bonus rate from the first day working day of September. The Monthly Bonus rate will be applied to your balance in September, calculated daily and paid in line with the with the interest payment cycle (generally the 28th of the month).