The contents of this website have been prepared without taking account of your objectives, financial situation or needs. Because of that you should, before taking any action to acquire any of the financial products mentioned on this website or to transfer your personal business to HSBC, consider whether that is appropriate having regard to your own objectives, financial situation and needs.
You should obtain the Product Disclosure Statement relating to the relevant financial product mentioned on this website (which contains full details of the terms and conditions of the relevant financial product) and consider it before making any decision about whether to acquire the financial product.
A Product Disclosure Statement relating to the financial products mentioned on this website is available on request by calling us on 1300 308 008, visiting any of our branches or by visiting our Product Disclosure Statement Listing.
Standalone Financial Services Guides
Fees and Charges
For information on the fees and charges for the Commercial Banking products and services please call us on 1300 731 720.
From 5th March 2018 HSBC Australia will move to a more comprehensive credit reporting system. This will change the way HSBC collects, uses and discloses your Credit Information in relation to Consumer Credit Cards, Home Loan products and other credit facilities you have or apply for with us.
Read on to find out how these changes will affect you.
Summary of the changes to credit reporting
The credit reporting system allows HSBC and other licensed credit providers in Australia to share more information about your credit worthiness, including:
Prior to these changes, licensed credit providers in Australia disclosed and placed only the following information on your personal credit file:
These new changes will better enable HSBC and other Credit
Providers to lend more responsibly by having a better picture of your credit situation, in some cases dating back to 2016.
How does Comprehensive Credit Reporting affect me?
If you are an HSBC personal banking customer and you hold or apply for one or more Consumer Credit Facilities with us, we will obtain and share your credit reporting information with Credit Reporting Bodies in Australia. This information will be included in credit reports compiled by these Credit Reporting Bodies.
Missed payments and late payments will now show on your credit record and may affect future credit applications, so it’s important that you keep on top of your repayments.
You can minimise the risk of forgetting to make a repayment by
Generally, Comprehensive Credit Reporting applies to personal banking customers at HSBC who hold Consumer Credit Facilities with us. If you are an HSBC Business, Corporate or Global Banking account holder, you should refer to relevant terms of your banking products and services for details about the personal Credit Information we share with Credit Reporting Bodies in relation to your commercial credit arrangements (for example, if you are a personal or director guarantor for an HSBC Corporate facility).
The Australian Government, consistent with many governments around the world, has taken action to support the local banking system through a deposit guarantee. This guarantee fosters greater confidence in the community, safeguards Australians from global financial crises, and protect deposits in Australian banks.
As a local subsidiary of the HSBC Group, HSBC Bank Australia Limited is eligible for the Australian Government's deposit guarantee scheme.
Recent Changes to the Guarantee Scheme for Large Deposits and Wholesale Funding:
Since the origination of the scheme the Australian Government has announced the following updates, with specific relevance to HSBC deposits and wholesale funding.
Effective 31 March 2010, the Australian Government has closed its Guarantee Scheme for Large Deposits and Wholesale Funding. Below are some important aspects of this closure:
Deposits per person with HSBC Bank Australia Limited up to and including $1 million (and changing to $250,000 from 1 February 2012) will continue to be covered for free by the Financial Claims Scheme ("FCS"). In September 2011 the Australian Government made the following announcements:
HSBC is one of the world's largest banking and financial services organisations. We serve around 48 million customers through four global businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking. Our network covers 72 countries and territories in Europe, Asia, the Middle East and Africa, North America and Latin America.
With around 6,100 offices worldwide, we aim to be where the growth is, connecting customers to opportunities, enabling businesses to thrive and economies to prosper, and ultimately helping people to fulfil their hopes and realise their ambitions.
For further enquiries:
Call 1300 308 021 for personal/small business deposits
Call 1300 300 437 for corporate/commercial deposits
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