What Brexit means for you

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

This document is based on the information available to HSBC at the time of preparation. It is subject to change in light of the ongoing negotiations between the EU and UK government.

The receiving beneficiary bank may now apply higher charges than those before Brexit. HSBC UK charges have not changed.
We recommend you check what charges the beneficiary bank applies when your payment is received. This charge will typically be taken from the payment amount.

Yes. There will be no change to how you use your Debit or Credit Card following Brexit.

No. Everything will be the same as it is today. 

While future government regulations will only apply in the UK, we don't expect there to be extra charges for using a card in EU countries. Existing foreign exchange charges will still apply.

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). The UK Government extended the ban in the UK. They did this to include Amex and PayPal. This will still apply after Brexit.

Foreign exchange charges will still apply as they do today. 

Yes. Consumers and businesses will still be able to make payments to the EU. The financial services industry, including HSBC, are supporting customers in their efforts to retain access to key euro payments systems. This includes the Single Euro Payments Area (SEPA). This will ensure that SEPA payments can still be made.

The area in which the SEPA payment schemes (for euro credit transfers and direct debits) are available is broader than the European Union. It includes over 34 countries.

SEPA is where consumers, businesses and other economic actors can make and receive payments in euros. These common standards make payments quicker and simpler. It can also help businesses access new markets.

The Financial Services Compensation Scheme (FSCS) will continue to protect your Savings and Current Account balances with HSBC UK. This is up to £85,000 or £170,000 for a joint account. 

We'll be able to consider Bank Account applications from UK Nationals who move to an EU country as we do today and taking account of local regulation.

We'll be able to consider Bank Account applications from EU Nationals who move to the UK as we do today.

Yes, your HSBC UK Bank Account will remain open providing that it is used at least once every 12 months. If there’s no activity, the account will go dormant. This means that it will be frozen, and you’ll need to pass some security checks to reactivate it as you would today.

Yes, you can still withdraw money abroad.  Fees will apply as they would today. You can find more information on fees on debit cards and visa debit cards by selecting using-your-card/#fees

UK providers will still be able to consider Savings Account applications from UK Nationals who move to an EU country, taking account of local regulations.

Yes. EU Nationals who live in the UK can still apply for an HSBC UK Savings Account. 

Yes. Your HSBC UK Savings Account will remain open and you’ll still be able use it as you do today. You’ll also still be able to access our online services and contact us over the phone.

Yes. As is the case now, customers will be able to access their HSBC UK Savings Account when they are abroad in an EU country.

Yes. You’ll be able to move your HSBC Savings to a Savings Account in an EU country.

Yes. You'll be able to move your savings from your EU-based Savings Account to your HSBC UK Savings Account. 

No. There will be no change to the way you apply. All UK lenders will still be carrying out affordability assessments. This will ensure responsible borrowing.

No. The laws and rules around consumer credit lending are not being changed. The Financial Conduct Authority may decide to make changes to this in the future. If they do, we’ll advise customers as needed. 

Yes. EU Nationals will still be able to apply for credit after Brexit subject to HSBC UK policy and affordability assessment.

No. The way your credit score is calculated will not change after Brexit.

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 UK legislation. As such, they won't be changed.

We only offer Credit Cards to UK residents. Due to this, Brexit won’t have any impact on this product.

While future government regulations will only apply in the UK, we don't expect there to be extra charges for using a card in EU countries. Existing foreign exchange charges will still apply.

We can still offer 0% Balance transfer following Brexit. Please keep an eye on our website for our latest offers. 

Yes. After Brexit you’ll still have the same overseas purchase protection overseas that you do today.

Most importantly contact us on +44 1442 422929, our overseas help number. After Brexit you’ll still have the same protections against card fraud that you have today. 

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 at a regular basis. If we do increase or lower any of our charges, we’ll let affected customers know. 

We only offer an unsecured personal loan to UK residents. Due to this, Brexit will not have any impact on this product.

Our overdraft products haven’t changed as a result of Brexit. If anything does change, we’ll let you know if you’re affected.

If you’re on a fixed rate mortgage, there will be no change. You’ll continue to pay the same amount each month that you do now. When your fixed rate period ends, you may wish to look for another fixed rate deal. You can find details about our different mortgage products by selecting mortgages/products. If you would like advice on which of our mortgage products is best for you, please call 0800 169 6333.† We’re here to help Monday to Friday 08:00 to 20:00, Saturday and Sunday 09:00 to 17:00.

If you’re on a variable rate mortgage, such as a tracker or the HSBC Variable Rate, the amount you pay may change just as it could today. Please refer to the terms and conditions of your offer. All variable and tracker rate customers can switch to a fixed rate product without getting an early repayment charge. Please contact us on the details above to check out our latest deals. 

Many people can find themselves financially stretched from time to time. Often things can get back to normal, although it’s important to act as soon as you know there's a problem. If you don’t, your debts could get worse.

If you need us, we're here for you.

You can find more information by visiting money-worries/how-we-can-help/, or by calling 0345 850 0622.†

We’re here to help 08:00 – 18:00 Monday to Friday and 08:30 – 16:00 on Saturday (excluding Christmas Day, Boxing Day and New Year’s Day).

Yes, please contact the Bank if you would like to discuss your switching options. Existing customers looking to switch to a new product/rate have the same options as new customers. These include a 2 or 5-year fixed rate, plus the more flexible option of an Early Repayment Charge free 2-year tracker rate.

Yes. To ensure responsible borrowing, all UK lenders will still be carrying out these assessments.

You’ll only know you’re in negative equity if you’ve had:

• your home valued recently
• your outstanding mortgage balance is higher than the value of your home.

We’re here to help customers. If you’re in negative equity and want to change your mortgage or move home, please call 0800 169 6333.† We’re here to help Monday to Friday 08:00 to 20:00, Saturday and Sunday 09:00 to 17:00.

†Calls may be monitored and recorded. Opening hours may vary.

We look at all cases of financial difficulty sympathetically. The most important thing is to talk to us so we can help find a positive solution.

Anyone’s circumstances can suddenly change. This could be temporary, or may last for longer. We’re here to help, and also have strong links with third parties who can provide advice and support.

If you need us, we’re here for you. You can find more information by visiting money-worries/how-we-can-help/, or call 0345 850 0622. We’re here to help 08:00 – 18:00 Monday to Friday and 08:30 – 16:00 on Saturday (excluding Christmas Day, Boxing Day and New Year’s Day).

†Calls may be monitored and recorded. Opening hours may vary

This service is only for customers in the UK. This is the same as it is today, and won’t be changed by Brexit. We’ll still give you details about your current investments and let you know how they’re doing. However, we won’t be able to offer you any personally-tailored advice.

You’ll be able to keep your current investments, and can sell them at any time. If you move outside the UK, you won’t be able to buy any new ones. We do offer a service for expats called Invest Direct International.

These funds invest in a range of assets from around the world. Due to this, we don’t believe there will be any material change in the way the funds operate.

We review these often and invest in a range of assets from around the world. Due to this, we don’t believe it will affect the way the funds operate.

The Offshore Bonds are provided by third parties, such as Prudential. Whilst they will make the decision, we think you’ll still be able to hold or sell the fund after Brexit.

We don’t think there will be any changes in the way we administer trusts.

Your Private Banking Relationship Manager can assist with any questions you have about your Private Banking accounts.

Your policy won’t change because of Brexit. You can find more product specific details below.

There’s no change to your cover.  Any new or existing claims will be dealt with in the same way.

• 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. Visit www.gov.uk/get-a-passport-urgently to find out more about renewing a passport.
• the entry requirements for the country you’re going to visit. You can see the Government’s latest information at www.gov.uk/foreign-travel-advice. 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. 
• if you’re travelling with pets. You should arrange for any vaccinations, microchips, or anything else you may need as early as you can. You can find the Government’s latest advice for pets at www.gov.uk/guidance/pet-travel-to-europe-after-brexit.
• the European Health Insurance Card (EHIC). This may not be valid if there’s a no-deal Brexit. Whilst other arrangements may be negotiated, you could face medical costs that would’ve been covered by the EHIC.

Find out the latest information from Aviva at https://www.aviva.co.uk/aviva-edit/your-future-articles/brexit-and-your-policies/

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: 0800 051 7457
•          HSBC Jade: 0800 404 6776
•          HSBC Insurance Aspects: 0800 051 7142
•          HSBC Travel Insurance: 0800 169 4013

To drive in the European Union (EU), you may need an International Driving Permit (IDP). You’ll need to show this along with your UK driving licence. For peace of mind you can purchase one now, here: www.gov.uk/guidance/prepare-to-drive-in-the-eu-after-brexit.

In the event of a no-deal Brexit, policyholders will have to get a Green Card to drive in the EU. This is supplied by insurers as proof of insurance and is required by EU regulations. You may be breaking the law if you travel without one. Please speak to your car insurance provider about a month before travelling to get one.

A Green Card will also be required for EU motorists travelling to the UK.

If you have a Car Insurance policy with us, we’re here to help. To drive in Europe after a no-deal Brexit, just call BISL Limited on 0344 871 2337. We need at least 21 days’ notice before you travel to send you a Green Card.

Yes, this is unchanged by Brexit.

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

No. We promise to do all we can to keep our customers' data safe. The current Data Protection rules will still apply after Brexit.

No, you'll still be able to access your money.

Yes. The majority of the PSD2 provisions apply from 13 January 2018. The exception is some conditions around strong customer authentication and secure communication. This is because they run to a longer timescale.  We’ll let affected customers know if there are any changes.