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HSBC Serious Saver Account FAQs

Serious Saver Account

How soon will I receive my HSBC Serious Saver account details and tools?

Your HSBC Serious Saver Account Number, BSB number, Personal Banking Number (PBN), and Online Security Device (OSD) will be sent to you in the mail once we receive your paperwork and have verified your identity and opened your account.

How do I apply for an HSBC Serious Saver account?

Three simple ways to apply for an HSBC Serious Saver account:

  1. Apply for your HSBC Serious Saver account online.
  2. Contact 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 application service is available Monday to Friday from 8:00am to 8:00pm AEST.
  3. Apply in any HSBC Branch.

Who can open an HSBC Serious Saver account?

The following criteria apply to opening an HSBC Serious Saver account:

  • You must be 18 years of age or older;
  • You must have a valid and accessible email address;
  • You must be able to link your HSBC Serious Saver to an (your nominated) Australian deposit account with the same name;
  • You must be comfortable opening and operating your HSBC Serious Saver account online or over the phone; and
  • Available for personal customers, trusts, SMSFs and non-trading companies.

Can we open a joint HSBC Serious Saver account?

Yes, your HSBC Serious Saver can be set up as a joint account. Just follow the online application process and click on the 'Joint Account' option.

Please note, the HSBC Serious Saver is not available where you require both parties to authorise transactions. The Joint Account must be linked to a nominated joint account in the same name. The maximum number of people who can open a Joint Account is two.

Is there a minimum opening balance required to open an HSBC Serious Saver account?

No, there is no minimum opening balance required with opening an HSBC Serious Saver account.

Is there a maximum balance for an HSBC Serious Saver account?

There is no maximum balance, however interest will only be payable up to $1,000,000.

Can I have more than one HSBC Serious Saver account?

No, each customer can only open one HSBC Serious Saver account.

If your HSBC Serious Saver is closed, you cannot open another HSBC Serious Saver at any time within the same month of the date of closure of your previous HSBC Serious Saver.

What fees apply to the HSBC Serious Saver account?

Your HSBC Serious Saver has no bank or account fees.

When is interest paid on my HSBC Serious Saver account?

Interest is payable monthly on your HSBC Serious Saver account. Closed your HSBC Serious Saver account. Interest is generally payable on the 28th day of each month, however, when the 28th (interest payable date) falls on either a weekend or national public holiday, the interest payable date becomes the first next available business day.

Once my HSBC Serious Saver account is open, how do I deposit money into the account?

You can deposit money into your HSBC Serious Saver account in a number of quick and convenient ways. Deposits can be made electronically from your Nominated Account to your HSBC Serious Saver, by either Online Banking or Phone Banking.

You cannot transfer funds into your HSBC Serious Saver (via Mobile Banking, Online Banking or Phone Banking) from any account other than your Nominated Account.

How do I transfer money between my HSBC Serious Saver account and Nominated Account?

You can only deposit funds to your HSBC Serious Saver account by transferring funds from your Nominated Account. Your Nominated Accounts financial institution may require you to register to use a 'Third Party Transfer' or 'pay anyone' service and may impose daily limits. Please contact your financial institution for more details.

To withdraw money from your HSBC Serious Saver account, you must transfer the amount you wish to withdraw back to your Nominated Account, and then withdraw the amount from the Nominated Account.

Are there daily withdrawal limits for my HSBC Serious Saver account?

Yes. The maximum daily limit you can withdraw from your HSBC Serious Saver account is $500,000. The $500,000 daily account limit applies to all your HSBC accounts which have the same Personal Banking Number (PBN), therefore you may exceed your account limit if you have withdrawn or transferred funds using the same PBN from other HSBC accounts.

How is interest calculated on my HSBC Serious Saver account?

Interest for your HSBC Serious Saver account is calculated daily on the closing balance of your HSBC Serious Saver up to $1,000,000. Interest is payable monthly. Interest for your HSBC Serious Saver account is calculated daily on the closing balance up to $1,000,000.

How do I find out what the current interest rate is?

The current interest rate is always available at the HSBC Website or by calling Phone Banking Centre on 1300 308 008 (or +612 9005 8220 if calling from overseas).

You can view your Serious Saver Account interest rates on Personal Online Banking.

What is a Nominated Account?

A Nominated Account is the personal Australian bank account you choose to link to your HSBC Serious Saver account. Your Nominated Account must be in the same name(s) as your HSBC Serious Saver.

How do I withdraw money from my HSBC Serious Saver account?

To withdraw money from your HSBC Serious Saver account you can use HSBC Mobile Banking, HSBC Online Banking or Phone Banking to transfer funds back to your Nominated Account. For security reasons, you can only withdraw funds to the Nominated Account linked to your HSBC Serious Saver.

How do I change my Nominated Account details?

You can change these details by completing the HSBC Serious Saver Change of Nominated Account Form, returning it to us with original bank issue statements from both your existing and new nominated accounts. Your new Nominated Account statement must be less than 3 months old.

How do I access my HSBC Serious Saver account?

You can access your HSBC Serious Saver account anytime you like using our HSBC Mobile Banking App, HSBC Online Banking, or HSBC Phone Banking, on 1300 308 008 (or +612 9005 8220 if calling from overseas). All 3 options are available 24 hours a day, 7 days a week.

Deposits and withdrawals from the account can be made through your linked bank account.