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Overdraft Service

Be prepared for life's unexpected costs

Current accounts

Overdraft Service

Agreeing an arranged overdraft is fee free and keeping within your limit could be an easy way to manage your account.

Apply for an HSBC Overdraft today: 

Benefits

With the HSBC Overdraft Service you'll get:

  • Agree your overdraft limit in advance

  • Overdraft charges

    For details of charges that may be applicable please see our Terms and Conditions.

  • Be confident – even in expensive months

    If your request for an overdraft is approved, you'll know that when you keep within your limit all your payments will be made and no overdraft fees will apply. Your only cost will be the interest you pay.

  • No overdraft fees

    The only cost to you will be the overdraft interest you pay.

Tell us about your overdraft needs

You can use our calculator to find out how much an overdraft through your HSBC current account could cost over a period of up to 31 days.

An overdraft is a short-term credit facility for borrowing money on your current account. It can help in months where there are extra expenses and unplanned events. Overdrafts are not generally suitable for long-term borrowing. Use of an overdraft will normally result in you being charged interest.

Overdrafts are subject to status and aren't available if you're under 18 or hold an HSBC Basic Bank Account.

The figures displayed are given as a guide only. They are based on assumptions rather than precise calculations.

If you have any further queries, or need help understanding your overdraft, please visit our FAQs.

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Representative Example: Based on an assumed arranged overdraft of £1,200 for an HSBC Bank Account, the rate is 0% EAR (variable) on the first £25, 19.9% EAR (variable) on anything after that, giving a representative rate of 18.29% APR (variable).

Calculator assumptions

  • the amount borrowed is drawn down in full at noon on the date of calculation
  • you are overdrawn for a continuous period – you don't dip in and out of your overdraft
  • at the time you go into your overdraft the balance of your current account is £0
  • no other credits and or debits will be made from the account during the borrowing period
  • the outstanding balance will be repaid in full on the last day of the borrowing period
  • the interest rate will remain the same during the whole borrowing period

Glossary of terms

  • overdraft interest rate - This is the interest rate that currently applies to borrowing under an overdraft. EAR stands for equivalent annual rate. It takes account of the interest rate and how often interest is charged, and does not include any other fees or charges
  • how to find your overdraft limit – If you are an existing customer you can view your overdraft limit by logging on to online banking or the mobile app or on a recent statement

Eligibility

Please ensure you can answer YES to the following questions:

  • Are you 18 years or over?
  • Do you have a relevant HSBC bank account?

 

Our Overdraft Service is available on HSBC Premier, Advance, Bank Account, Bank Account Pay Monthly, Graduate, Gap Year and Student Bank Accounts (over 18s only).

Our Overdraft Service is not available on Basic Bank Account.

All requests for an HSBC overdraft are subject to your credit status and all overdrafts are repayable on demand. If you need help to manage your account or are struggling with your finances, please contact us.

If you know what limit you need: you can apply for an arranged overdraft and get an instant decision now.

If you're not sure how much you'll need: please call us on 03456 00 61 61 between 8am to 10pm or arrange a visit at your local branch so we can discuss it with you.

 

*Channel Islands and Isle of Man customers are not eligible to apply online. 

Apply by phone

If you have an eligible HSBC Current Account, you can apply for an overdraft by calling:

03456 00 61 61

 

From abroad:

+44 1226 261 010

Lines are open from 08:00 to 22:00 every day (except Christmas Day, Boxing Day and New Year's Day) 

Apply in branch

Book your appointment to apply in branch by calling: 

03456006161

You'll need to bring identification, proof of your address and a recent bank statement. 

Frequently Asked Questions

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