Business Money Manager

ACCOUNT NAME: BUSINESS MONEY MANAGER

What is the interest rate?

The applicable credit interest rates are as follows:

¹ AER (Annual Equivalent Rate): This is a notional rate which illustrates what the gross rate would be if interest were paid and compounded each year.

Credit interest is calculated on a daily basis and is paid either monthly or quarterly (in March, June, September and December) according to your instructions. The credit interest rate will depend on how often you take money out of your account:

Can the Bank change the interest rate?

Yes, the Bank can change the interest rates at any time in line with the Business Banking Terms and Conditions.

Favourable changes

We’ll make the change immediately and tell you about it once the change has been made.

Unfavourable changes

• Small Business Banking and Business Banking Customers: We'll let you know at least two months before we make the change.
• Corporate Business Customers: We’ll make the change immediately, and tell you about it once the change has been made.

What would the estimated balance be after 12 months based on a range of deposits?

Example 1 – Single deposit, no withdrawals

For the purpose of this calculation it is assumed:

• initial deposit of £1,000
• no additional deposits
• no withdrawals
• no change to the interest rates during the 12 months
• interest is paid monthly

Example 2 – Single deposit, monthly withdrawals

For the purpose of this calculation it is assumed:

• initial deposit of £1,000
• no additional deposits
• £50 withdrawn every month
• no change to the interest rate during the 12 months
• interest is paid monthly

Example 3 – Single deposit with one withdrawal and one additional deposit

For the purpose of this calculation it is assumed:

• initial deposit of £1,000
• £100 withdrawn after 3 months
• £500 deposited 2 months later
• no change to the interest rates during the 12 months
• interest is paid monthly

Larger deposits

• If you deposit enough, you can earn more.
• If you make withdrawals, the interest rate you earn goes down.
• Based on you paying in the following deposits on day 1 and making no withdrawals or additional deposits, your estimated balance after 12 months would be as shown in the table below.

How do I open and manage my account?

Eligibility:

Small Business Banking and Business Banking Customers.

Minimum/Maximum balance:

• No minimum deposit
• No maximum balance

How to manage the account:

Once opened you can manage your account online, in branch or by phone.

Can I withdraw money?

Yes, you can make as many withdrawals as you like in line with the Business Money Manager Additional Conditions. No notice is required. If you take money out of your Account, your interest rate may change.

If you take money out when we’re paying you interest at our 30+ Day Rate:

We’ll pay you at our Instant Access Rate on the cleared balance of your Account from the day after you make the withdrawal. You’ll start getting the 30+ Day Rate again once 30 days pass without you taking money out.

If you take money out when we’re paying you interest at our 60+ Day Rate:

We’ll pay you at our 30+ Day Rate on the cleared balance of your Account from the day after you make the withdrawal. You’ll start getting the 60+ Day Rate again once 30 days pass without you taking money out. If you make another withdrawal, you’ll go back to the Instant Access Rate.

Are there any charges?

There are no monthly account fees, but cash and cheque transaction fees are applicable. Please see the Business Price List for more information.

This is a sterling instant access savings account and can only be used as a savings account.

Definitions:

• AER (Annual Equivalent Rate): This is a notional rate which illustrates what the gross rate would be if interest were paid and compounded each year.
• Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.
• Small Business Banking customers are typically small enterprises (including not-for-profits) with borrowing needs of up to £100k. Their everyday transactional banking products and needs wouldn’t require the support of a Relationship Manager. (Government lending schemes are subject to different limits.)
• Business Banking customers are typically small and medium sized enterprises (including not-for-profits) with product needs that require support through a dedicated Relationship Manager, who work alongside our specialist teams. Our Relationship Managers can provide transactional banking and funding solutions of over £100k (both domestically and internationally).
• Corporate Banking Customer means any business customer whose accounts are held with us in the UK, which isn’t a Small Business Banking or a Business Banking Customer.

Leave your savings untouched for 30 days and they qualify for a higher interest rate band.

Leave those same funds untouched for 60 days or more, and they qualify for an even higher interest band.

For more details, see our interest rates page.

Are you a primary user of HSBC Business Internet Banking?

Log on to apply now and you'll see your new account straight away.

Are you an existing HSBC business customer?

You can apply now by calling:

0800 731 8911

Lines are open 8am to 8pm Monday to Friday and 9am to 2pm Saturday. (except Christmas Day, Boxing Day and New Year's Day). To help us continually improve our service and in the interests of security, we may monitor and/or record your telephone call.

Are you new to HSBC?

Call us today on 03457 60 60 60 to open the account over the telephone or arrange an appointment to speak to someone in branch

Lines are open Monday to Friday, 8:00am to 8:00pm and Saturday, 8:00am to 2:00pm (subject to change over certain periods).