HSBC Advance – new premium current account

Today HSBC is launching its global premium current account ‘HSBC Advance' to UK consumers. The new account offers an enhanced level of service and benefits over regular 24 x 7 bank accounts, but also gives customers access to preferential rates and prices on HSBC products and services. Leading the offers exclusive for HSBC Advance customers are a Lifetime Tracker mortgage at 2.49% (1.99% over base rate) with a maximum LTV of 75%, and a regular savings account paying 8% fixed for 12 months.

Brendan Cook, HSBC's Head of Customer Propositions, said: "Advance brings together the best of HSBC for our customers, combining best buy products and our international banking resources and expertise. We believe HSBC Advance has an unrivalled mix of ongoing benefits such as UK roadside breakdown cover and annual worldwide family travel insurance, together with exclusive discounts on our products and services which our customers can benefit from as their financial needs change."

For launch, HSBC Advance account includes the following exclusive benefits and offers:

a lifetime tracker mortgage, 2.49 per cent (1.99 per cent over Bank Base rate) with a max LTV of 75 per cent and a fee of £999,

8 per cent interest in a Regular Saver account fixed for 12 months,

a 12 month fixed rate cash ISA paying up to 2.85 per cent,

UK roadside breakdown assistance, HomeStart upgrade available,

extensive worldwide family travel insurance,

fee-free cash machine access abroad,

global customer recognition and emergency cash facility,

international account opening assistance,

a discounted overdraft rate of 17.9 per cent EAR (typical) compared to the bank's standard rate of 19.9 per cent,

£3,000 of life insurance cover and 50 per cent discount on LifeChoices premiums

10 per cent cash back on personal loan interest costs,
identity theft assistance and advice

HSBC Advance has already launched in several countries and will continued to be rolled out in countries where HSBC has a retail banking presence. As a global product, HSBC Advance customers will benefit from global recognition in HSBC branches across the world and have access to emergency funds should they need it.

For UK customers, HSBC Advance will replace ‘Plus' in the bank's portfolio of current accounts, with existing customers automatically being given access to HSBC Advance's benefits. For new to bank and upgrading customers HSBC Advance is being discounted for a limited period to just £6 for the initial three months then £12.95 per month.

Customers with savings and investments of over £50,000 with us have access to HSBC Premier, the bank's first class service. Offering all the benefits of HSBC Advance and more, including the preferential prices and rates, Premier has no monthly charge and draws together customers' banking, wealth and international requirements into one readily accessible place.