Brexit | Contact & Support - HSBC Channel Islands & Isle of Man

Our priority and commitment is to you

We aim to support you throughout the transition period, which follows the UK’s departure from the EU, and beyond.

Frequently Asked Questions

We know that you may have some questions about how Brexit may affect you and your banking services.

HSBC Channel Islands & Isle of Man payments

At this stage we don’t expect any changes in payment fees or card fees. However, this may change in the future.

A ban on retailers charging extra fees for consumers to use a debit or credit card was introduced on 13 January 2018. This was under the EU’s second Payment Services Directive (PSD2). These changes will continue to apply after Brexit, subject to any changes governments may make in the future.

Foreign exchange charges will still apply as they do today.

Yes. Consumers and businesses will still be able to make payments to the EU and payments in Euros.

HSBC Channel Islands & Isle of Man current accounts and savings accounts

Existing depositor protection schemes operated in Jersey, Guernsey and the Isle of Man will continue to protect your Current and Savings Account balances with HSBC in the same way as before.

We will be able to consider Bank Account applications from EU Nationals who move to the Channel Islands as we do today and existing customers will still be able to hold accounts.

Yes. You’ll be able to move your funds from any EU based Account to your HSBC Channel Islands & Isle of Man
Account.

It’s not always easy to predict when interest rates will change. Should this occur however, HSBC Channel Islands & Isle of Man
will ensure that all impacted customers are notified of how the base rate change will impact them, in the same way that we currently do.

HSBC Channel Islands & Isle of Man credit cards, personal loans and overdrafts (unsecured lending)

No. There will be no change to the way you apply. Lenders will continue to carry out affordability assessments. This will ensure responsible borrowing.

No. The laws and rules around consumer credit lending are not being changed. If changes do happen in the future, we’ll advise customers as needed.

Yes. EU Nationals will still be able to apply for credit after Brexit subject to HSBC Channel Islands & Isle of Man
policy and affordability assessment.

No, everything will stay the same. Your data will also remain secure. This is as per the enhanced EU data protection rules brought in by the General Data Protection Regulation in May 2018. These have been transferred into new legislation. As such, they will not be changed unless the government decides to depart from current data protection standards.

HSBC Channel Islands & Isle of Man credit cards

At this stage we don’t expect any changes in the card fees for using your credit card in another EU country. Until the final Brexit deal is announced, we’re unable to confirm this. Foreign exchange charges will still apply.

We don’t expect changes to your existing card APR and fees as a result of Brexit. We review all of our rates and fees on a regular basis. If we do increase or lower any of our charges, we’ll let affected customers know.

HSBC Channel Islands & Isle of Man personal loans

HSBC Channel Islands & Isle of Man overdrafts

We expect our overdraft product to stay the same after Brexit. If there’s anything that does change, we’ll let our customers know.

HSBC Channel Islands & Isle of Man mortgages

If you’re on a fixed rate mortgage deal, there will be no change. You’ll continue to pay the same amount each month that you do now.

If you’re on a variable rate mortgage deal, the amount you pay may change regardless of Brexit. The interest you pay is an agreed percentage above the Bank of England base rate for the term of the loan. This means that your interest rate payable will rise and fall in line with changes to the Bank of England base rate, but no matter how far the base rate is reduced, the interest rate on your mortgage will never be a negative figure.

We’ll always let our customers know if their interest rate changes.

HSBC Channel Islands & Isle of Man wealth products

No. These funds are based in Luxembourg and will not change in operation post Brexit.

Please note investment funds can invest in a range of assets from around the world and the value of your holding will continue to fluctuate.

The investment Bonds are provided by Third Parties (including Prudential). Whilst they will make the decision, we believe you will still be able to hold or sell the investment after Brexit.

HSBC Channel Islands & Isle of Man insurance products

No, your Insurance product will not be affected by Brexit. We can confirm that:

Life Insurance and Critical Illness cover remains the same
Claims will be valid in whichever country you were to claim from

Travel Insurance

Your travel insurance and cover will remain valid after Brexit. There are some important things we do recommend you check before you travel. See below:

Your passport. At the time you’re travelling outside of the UK, your passport should have at least 6 months left before it expires. Any ‘extra months’ you may have had from early renewals are not included
The entry requirements for the country you’re going to visit. If you need a visa, you should order it as early as you can. This’ll help you reduce the risk of travel disruption
Allow plenty of time to travel. You’re not covered for any delays that could be caused by a no-deal Brexit; this includes checking in at the airport/port or going through security.
Please check the Medical declaration in your Policy booklet. Here you’ll find out what you need to tell us about any pre-existing conditions. You can let us know about these using the phone numbers below:

HSBC Premier Customers: 0800 051 7457

HSBC Jade Customers: 0800 404 6776

HSBC Insurance Aspects Customers: 0800 051 7142

HSBC Travel Insurance Customers: 0800 169 4013

Foreign exchange (FX)

Fluctuations in currency could and do occur. As we do today, HSBC will always offer our customer the best price we can.

What Brexit could mean for you

Frequently Asked Questions

HSBC Channel Islands & Isle of Man payments

Can I still use my debit or credit card in the EU?

Will my normal payments such as Direct Debits be affected by Brexit?

Will payments to the EU cost me more money after Brexit?

Will surcharging on debit or credit cards return?

Will I still be able to make Euro payments?

HSBC Channel Islands & Isle of Man current accounts and savings accounts

Will the money in my HSBC Channel Islands & Isle of Man Account continue to be protected?

I am an EU citizen living in the Channel Islands & Isle of Man; will I still be able to have an HSBC Channel Islands & Isle of Man Account after Brexit?

Will I still be able to withdraw cash abroad from my HSBC Channel Islands & Isle of Man Bank Account after Brexit?

Will I be able to move money from an EU account to a Channel Islands & Isle of Man held Account?

Will Brexit lead to further base rate changes?

HSBC Channel Islands & Isle of Man credit cards, personal loans and overdrafts (unsecured lending)

Will Brexit affect my ability to get a personal loan / credit card?

Will Brexit affect the level of protection that consumers have when taking out consumer credit?

I am an EU Citizen living and working in the Channel Islands or Isle of Man. Will I still be able to apply for credit after Brexit?

Will my credit ratings be impacted by Brexit?

Will Brexit impact the information held about me by Credit Reference Agencies?

HSBC Channel Islands & Isle of Man credit cards

Will it cost me more money to use my card abroad?

Will zero percent balance transfer deals continue to be available?

Will credit card purchases abroad still be protected after Brexit and be unaffected by Brexit?

Will there be any increases to my credit card APR or fees due to Brexit?

HSBC Channel Islands & Isle of Man personal loans

How does Brexit impact my HSBC Channel Islands & Isle of Man Personal Loan?

HSBC Channel Islands & Isle of Man overdrafts

How will my overdraft arrangement be impacted by Brexit?

HSBC Channel Islands & Isle of Man mortgages

What will the impact of Brexit be on mortgage rates?

Will there still be affordability assessments after Brexit?

What will happen to house prices?

HSBC Channel Islands & Isle of Man wealth products

Will there be any change to my HSBC Collective Investments (such as HSBC World Selection)?

I have an Investment Bond product purchased via HSBC – will there be any changes?

HSBC Channel Islands & Isle of Man insurance products

Will my Insurance product be affected by Brexit?

Foreign exchange (FX)

Will I still be able to exchange Euros into GBP and vice versa?

Will Euros be more expensive to buy for my holiday?

Customer support