HSBC Expat Group Executive Services (GES) Terms of Business

HSBC Expat

Group Executive Services (GES)

Terms of Business

These Terms of Business are effective from 30th August 2016

Your agreement with us consists of these Banking Terms of Business, which include Section 1 (General Terms), Section 2 (Your

Accounts) and Section 3 (Product Conditions), together with any Additional Conditions that apply to any products/services that you

have with us (together known as the Terms).

Additional Conditions include the following, as applicable to your product/service:

• all interest rates and charges that apply to the relevant product/service and are covered in the Tariff of Charges applicable

to your product/service, and on our website at http://www.expat.hsbc.com/1/2/hsbc-expat/terms (and which are available

by telephoning us. HSBC Premier customers please call +44 1534 616 313 and HSBC Advance customers please call

+44 1534 616 212); and

• any further terms we provide to you.

If any Additional Conditions contradict these Banking Terms of Business, then the Additional Conditions will apply.

Contents

Section 1

General Terms

General 4

Telephone Banking Service 5

Security Details 6

Collection and use of your information 7

Changing the Terms - general information 10

Interest Rate Charges 10

Other changes to the Terms 10

Reasons for making changes 10

Other reasons for making changes to the

extent the Terms do not apply for a fixed term 10

What you can do when we tell you about a change 10

Section 2

Your Accounts

Opening an account 11

Operating your account(s) 11

Payments into your account(s) 12

Payments you can make 12

Charges 14

Interest and Reporting 14

Borrowing from us 14

Responsibility for borrowing 15

Inactive account(s) 15

Closing your account(s) 16

HSBC Premier and HSBC Advance 16

Section 3

Product Conditions

Online Bonus Saver Account 18

Fixed Rate Saver Account and Fixed Term

Deposit Account (FTDA) 18

Renminbi Currency Savings Account and

Fixed Term Deposit Account (FTDA) 19

HSBC InvestDirect International Account (IDIA) 20

General Information 20

Complaints 20

Section 1 General Terms

1. General

1.1 Definitions and other information:

“Faster Payments” means a same day payments-clearing

scheme for electronic sterling payments in the UK.

“HSBC Bank” means HSBC Bank plc, an HSBC Group

company incorporated in England;

“HSBC Group” means HSBC Holdings plc, its subsidiaries,

associated and affiliated companies;

“HSBC Mobile Banking app” means the HSBC Mobile

Banking application that can be downloaded to any mobile

device that runs an operating system supported by us

through which you can access part of the HSBC Online

Banking Service;

“Online Banking Service” means the HSBC Expat online

banking service you access via our website www.expat.

hsbc.com, and/or our mobile banking service you access via

the HSBC Mobile Banking app;

“Investment Account” means an account(s) that you have

with HSBC Fund Administration (Jersey) Limited or HSBC

Funds Nominee (Jersey) Limited;

“Overdraft Interest” means interest you pay for any

overdraft on your account;

“PBN” means 10-digit personal banking number;

“PIN” refers to your six-digit Telephone Banking Service

personal identification number (references to other PINs will

be stated when referring to it);

“Secure Message” is a means of you contacting us or

us contacting you about your account(s) using the secure

electronic message service in our Online Banking Service.

‘Security Details’ means the unique memorable question

and answer, password and security questions and answers

chosen and set up by you to access our Online Banking

Service. This also includes your HSBC secure key PIN and

digital secure key password;

“Telephone Banking Service” means the HSBC Expat

telephone banking service;

‘User Guide’ means the guidance and information set out

in our answers to Frequently Asked Questions (FAQs)

and “Help” pages of the Online Banking Service and all

other guidance issued by us in connection with the Online

Banking Service.

“we”, “us” and “our” means HSBC Bank International

Limited, trading as HSBC Expat;

“you” means the person, persons or company in whose

name(s) the account(s) maintained by us are held.

Where we ask you to telephone us, HSBC Premier

customers please call +44 1534 616 313 and HSBC

Advance customers please call +44 1534 616 212.

Where we refer to times in the Terms, this will be UK time.

1.2 These Terms apply to:

• Bank Accounts, Online Bonus Saver Accounts, Saver

Accounts, Currency Savings Accounts and Fixed Term

Deposit Accounts;

• the following products which are no longer available for

sale: Multi Currency Cheque Deposit Account, 30 Day

Notice account and 90 Day Notice Account and Fixed

Rate Saver Account;

• our services (including HSBC Premier and

HSBC Advance);

• any sole and joint accounts you have with us;

• any other accounts that we tell you they apply to.

1.3 We will only open accounts for business customers in

exceptional circumstances, as our accounts and services

are designed for personal customers. If you are a business

customer, then certain services that are available to

personal customers will not be available to you.

1.4 These Terms are governed by the laws of Jersey. You and

we submit to the non-exclusive jurisdiction of the courts

of Jersey.

1.5 These Terms are in English and we will communicate with

you in English. You can ask us for another copy of these

Terms at any time by telephoning us.

These Terms are also available on our website

www.expat.hsbc.com.

1.6 You must be at least 18 years of age to open an account

with us. We will require proof of your identity when opening

an account.

1.7 Bank Accounts and Savings Accounts are available in

sterling, US dollar and euro. Currency Savings Accounts are

available in multiple currencies.

1.8 You can give us instructions via our Online Banking Service,

by post and via our Telephone Banking Service. There may

be instances where we are unable to assist you if we are

unable to identify you. Please see clause 3.1 in this Section.

1.9 We may change our banking hours, banking practices and

similar matters and we will endeavour to give you prior

notification, however there may be circumstances where

we may not be able to.

1.10 We require current principal residential and

correspondence addresses (which may be the same) from

you at all times. We will not accept a PO Box number as

a principal residential address, but we will accept this as a

correspondence address.

1.11 If we deem you to live in a sensitive country, we may

courier some important communications to you. Our courier

charges are set out in our Tariff of Charges and will be

payable by you.

1.12 You agree that we may use any contact details you have

provided to us, including your postal address which could

be your principal residential and correspondence address (if

you have one), telephone number(s) (including your mobile

telephone number) and email address to contact you for

service or operational reasons. These include telling you

about changes to the Terms that apply to your account(s)

and generally communicating with you about the day-to-day

running of your account(s), products and services.

If you are registered for our Online Banking Service, you

agree that we may also contact you using our Secure

Message service within our Online Banking Service for

these purposes.

You must ensure that the contact details you provide are

accurate and that you notify us promptly of any changes,

including to your email address, telephone number(s),

principal residential address and correspondence address.

Remember, communications may contain confidential

information and if anyone else has access to your email

inbox or mobile telephone messages, for example, they

may be able to see this. If you would prefer that we do not

contact you for service or operational reasons by email,

mobile message or Secure Message, please let us know.

While we will try to use your preferred channels wherever

possible, you may continue to receive important service

messages via these channels, for example, when we need

to contact you urgently. We will also use Secure Messages

to contact you in respect of any accounts you hold that are

managed solely online, e.g. Online Bonus Saver Account.

In the event that we are unable to contact you at your

correspondence address, we will contact you at your

principal residential address.

1.13 To comply with all applicable regulatory requirements,

we may ask you to provide information and/or documents

confirming the source of your funds and the source of your

wealth, including information about where in the world you

have generated income, and generated your wealth during

your lifetime.

1.14 We will not be responsible to you if we fail to comply with

any of these Terms:

• due to abnormal and unforeseen circumstances beyond

our control, the consequences of which would have

been unavoidable despite all efforts to the contrary; or

• where our failure to comply is due to any obligations we

have under Jersey, or international law.

1.15 We may occasionally allow you extra time to comply with

your obligations or decide not to exercise some of our

rights. However, we can still insist on the strict application

of these Terms later on.

1.16 If any part of these Terms proves to be unenforceable in

any way, this will not affect the validity of the remaining

Terms in any way. Any relaxation by us of any of these

Terms from time to time does not affect our right to enforce

these Terms strictly at any time.

1.17 We may transfer to a third party all or any of our rights in

relation to your account. We may also transfer any of our

obligations, but only to someone we reasonably consider

capable of performing them. This includes us appointing

another HSBC Group company as our agent to act on our

behalf for debt recovery purposes.

You may not transfer any of your rights or obligations in

relation to your account or transfer or assign any account

or deposit.

1.18 You must not use any facilities provided by us for

illegal purposes.

1.19 Our right of “set-off”

1.19.1 If:

• any accounts you hold with us in your sole name

and which you hold jointly with another person(s)

are in credit;

and

• you have failed to pay us any amount which you owe

on any other accounts you hold with us (in your sole

name or which you hold jointly with another person(s))

anywhere (including any card accounts and those in

different currencies) or any other amount you owe us,

we may use the money you hold with us to reduce or

repay the amount which you owe us.

This is called our right of “set-off” and the provisions

of this clause 1.19 constitute what is for the purposes

of Jersey law (where it applies to these Terms) a

“set-off provision”.

1.19.2 In addition, if any accounts you hold with us (in

your sole name or which you hold jointly with another

person(s)) are in credit, we may use that money to

repay any amount you owe on any other account (in

your sole name or which you hold jointly with another

person(s)) with any other company in the HSBC Group

anywhere (unless we are prevented from doing so by

law). This means:

• if you hold a sole account with us which is in credit,

we can apply the monies in that account to reduce

or extinguish any debit balance on any other HSBC

account you hold in your sole name; and

• if you hold a sole account with us which is in credit,

we can apply the monies in that account to reduce

or extinguish any debit balance on any other HSBC

account you hold jointly with another account

holder; and

• if you and another account holder hold a joint

account with us which is in credit, we can apply the

monies in that joint account to reduce or extinguish

any debit balance on any other HSBC joint account

you hold with that account holder; and

• if you and another account holder hold a joint

account with us which is in credit, we can apply the

monies in that joint account to reduce or extinguish

any debit balance on any other HSBC account you

hold in your sole name; and

• if you and another account holder hold a joint

account with us which is in credit, we can apply the

monies in that joint account to reduce or extinguish

any debit balance on any other HSBC account held

by that account holder in their sole name.

1.19.3 We will not use our right of set-off:

• against any money which we hold in an account in

your name which you have advised us is not yours;

• against any money which we are required to hold by

law in an account in your name for someone else; or

• in any way that contravenes any law, regulation,

code of conduct or industry guidance.

1.19.4 If we decide to use our right of “set-off”:

• we will tell you promptly after we have exercised

our right and the amount(s) we have debited from

which account(s); and

• in doing so, we may (and you irrevocably authorise

us to) convert to another currency that is in a

currency other than the account we are debiting, at

the HSBC exchange rate that applies at the time.

2. Telephone Banking Service

2.1 To use our Telephone Banking Service, you will require a

PBN and a Telephone Banking Service PIN. The PIN will

be sent to your correspondence address. We will send

you your PBN by email and send a confirmation to your

correspondence address by post or email and the PIN will

be sent to you by post. You will be asked to enter your PBN

followed by your Telephone Banking PIN using the buttons

on your telephone keypad. If you have lost or forgotten your

PBN or PIN;

• you will be able to re-set your PIN; or

• we can remind you what your PBN is provided you are

able to answer additional security questions.

2.2 Once we have completed our security procedures, we can

act on any instructions given to us, including payments of

money from your account, even if these instructions were

not given by you or with your authority. However, your

responsibility for transactions or instructions, which have

not been authorised by you, will be limited in the way set

out in clause 2.3 below.

2.3 If instructions are not actually given by you or with your

authority, unless clause 2.4 below applies, we will add back

to your account the amount of the unauthorised transaction,

including any related interest (if applicable) and charges.

We will have no further responsibility to you.

2.4 However, you will be responsible for all losses (including

the amount of any transaction carried out without your

authority) if we can prove that you have acted without

reasonable care, which includes not complying with

clause 3.2 in this Section, so as to allow an unauthorised

transaction, or that you have acted fraudulently.

2.5 Once you have told us that:

• you know or suspect that an unauthorised call has been

made to our Telephone Banking Service; or

• someone else knows your security number, password

or that your personal Security Details have been

used by a third party to access our Telephone

Banking Service. You will not be responsible for any

unauthorised instructions carried out after we have had

a reasonable time to put additional security measures

in place, except if we can prove that you have acted

fraudulently (see also clause 3.2 in this Section).

2.6 We may refuse to carry out a payment instruction if it

exceeds a particular value or if we feel there is a reason to

do so, such as a suspected breach of security. We will tell

you about this. We may carry out further security measures

to ensure, as far as possible, that the instruction has

been authorised by you. This may delay completion of the

payment instruction.

2.7 You agree that any use by you (or anyone purporting to be

you, who correctly completes our security procedures) of

our Telephone Banking Service will be taken as acceptance

of these Terms.

2.8 We may suspend or terminate any part of our Telephone

Banking Service at any time for maintenance, service or

security reasons. We will try to inform you in advance, but

it may not always be possible to do so.

2.9 If you have forgotten your PBN or PIN, email a request to

expat@hsbc.com or call us.

We will resend your PBN to you via email and, for your added

security, we will send your PIN by post (please note that it

could take a number of days for you to receive your PIN).

3. Security Details

3.1 We may not be able to assist you if we are unable to

identify you as our customer using our security procedures.

We reserve the right to ask you to provide additional

personal information and/or original signed instructions.

3.2 You must take all reasonable precautions to keep safe and

prevent fraudulent use of any cards, security devices (such

as the HSBC Secure Key) and Security Details (including PIN,

PBN, security numbers, passwords or other details including

those which allow you to use our Online Banking Service and

Telephone Banking Service). These precautions include but

are not limited to all of the following, as applicable:

General

• never writing down or otherwise recording your PBN, PIN

and other Security Details in a way that can be understood

by someone else;

• not choosing Security Details that may be easy to guess;

• taking care to ensure that no one hears or sees your

Security Details when you use them;

• keeping your Security Details unique to your accounts

with us;

• not allowing anyone else to have or use your card, security

devices, PBN or PIN or any of your Security Details (including

the Telephone Banking Service and Online Banking Service)

and not disclosing them to anyone, including the police and

us, except your card number and other card details when

using your card to make payments, and your Security Details

when registering for or resetting your Telephone Banking

Service and Online Banking Service Security Details (but

even then do not disclose in full);

• keeping card receipts and other information about your

account containing personal details (such as statements)

safe and disposing of them safely. People who commit

fraud use many methods, such as searching in dustbins

to obtain this type of information. You should take simple

precautions such as shredding paper containing such

information;

• changing your Security Details immediately and telling us

as soon as possible in accordance with clause 3.5 (in this

Section) if you know, or even suspect, that someone else

knows any of those details, or if we ask you to; and

• keeping your card, security devices, PBN, PIN and other

Security Details safe.

Cards, PBN and PIN

• safely destroying any PBN or PIN advice we send you

immediately after receipt, e.g. by shredding it;

• signing each card as soon as you receive it if it bears

a signature strip;

• keeping your debit card separately from your cheques;

• not disclosing the card number, PBN, PIN or card security

codes except when using the cards to make payments;

• not disclosing your PBN or PIN for mail order payments or

when paying for goods and services over the telephone or

through the internet;

• not tampering with the card; and complying with all

reasonable instructions we issue regarding keeping your

card, PBN and PIN safe.

Telephone Banking

• when you call us, we will confirm your identity using our

current security procedures. We will never ask you for more

than two digits of your security number. We may not be

able to assist you if we are unable to identify you as our

customer using our security procedures;

• when we call you, we will never ask for details of your

security number or password or other Security Details to

identify you as our customer. We will ask you questions

based on information known to us about you and the

transactions on your account; and

• when you contact us by telephone, you should not use

cordless or mobile telephones operating on an analogue

network. We recommend that you use either a landline

or a digital mobile telephone. We are not responsible for

the security of your account if anyone else overhears you

speaking to us on the telephone.

Online Banking Service

• keep your internet enabled device secure by using and

staying up to date with security software containing anti-

virus, anti-spyware and firewall technology, and software

and operating system patches;

• keep any security devices, your passwords, PBN and PINs

and other Security Details secret – we will never ask you for

your online banking security information in full;

• if accessing via an internet browser, always access the

Online Banking Service by typing in our URL, never go to

Online Banking site from a link in an email and then enter

personal details;

• never access the Online Banking Service from any internet

enabled device connected to a local area network (LAN)

(this is usually the case for computers you use at work) or

any public internet access device or access point (e.g. at an

internet cafe) without first making sure that no one else will

be able to observe or copy your access, or get access to

the Online Banking Service, by pretending to be you;

• never record your Security Details on any software which

retains them automatically (e.g. any computer screen

prompts or ‘save password’ feature or the line on your

internet browser) unless retaining them is a specific

function of a banking service provided by us;

• once you have logged on to the Online Banking Service, do

not leave the device from which you have accessed it or let

anyone else use that device until you have logged off; and

• follow all security measures recommended by the

manufacturer of the device you use to access the Online

Banking Service, e.g. the use of personal identification

numbers for smartphones and/or tablets with internet

access.

You agree to comply with any instruction or

recommendation we may issue about security when using

the Online Banking Service and/or website.

3.3 We will ask you to co-operate with us and the police in

relation to any investigation into the actual or suspected

misuse of your cards, PBN, PIN, username or Security

Details and/or accounts. You must report any unauthorised

transactions to the police within seven working days of our

request. We may also disclose information about you or

your account to the police or other third parties if we think it

will help prevent or recover losses.

3.4 From time to time, we may make other services for which

security number(s) or a password is required. We will notify

you of any terms at the time you apply for such services.

3.5 To help us prevent fraud, you must call us immediately

by telephone if any card, PBN, PIN, username or Security

Details are lost or stolen, or you suspect someone has tried

to use them, or if you do not recognise any transactions

shown on your statement. Unless you tell us about

any transactions you do not recognise, we will treat all

transactions on the account as yours. This will not prevent

you from later disputing you authorised the transaction.

3.6 We carry out certain checks on transactions on your

account as part of our fraud prevention measures.

3.7 We may contact you by post, telephone (including

mobile telephone), email, mobile messaging or (if you are

registered for our Online Banking Service) Secure Message

to advise that there may be suspicious activity on your

account, or leave a message to ask that you call us. If we

ask for you, you must contact us as soon as possible. In

respect of payments made through our Telephone Banking

Service or our Online Banking Service, if you do not reply to

us, we will assume you have not authorised the transaction

and it will not proceed.

For payments made using your debit card, if you do not

reply to us and we do not have any reason to believe there

are any other suspicious transactions on your account, we

will assume you have authorised the card payment and

allow it to proceed.

3.8 You can instruct us to stop or cancel a cheque as long as

we receive the request to stop it before 13:30 UK time on

the day the cheque is presented for payment. You must

only write cheques in the currency of your account. If a

cheque is lost or stolen, or if you think someone has signed

one of your cheques without your permission, you must call

us immediately. Cheque books remain our property at all

times. They must be returned when you close your account

or if we ask for their return.

3.9 If you have a cheque book, you must take all reasonable

precautions to ensure that no one else can issue cheques

from your cheque book without your knowledge. If you no

longer require your cheque book, then you must return it

to us.

Collection and use of your information

Definitions

Capitalised terms used in this clause 4 shall have the

following meanings:

“Authorities” includes any judicial, administrative, public or

regulatory body, any government, any Tax Authority, securities

or futures exchange, court, central bank or law enforcement

body, or any of their agents with jurisdiction over any part of the

HSBC Group;

“Compliance Obligations” means obligations of the HSBC

Group to comply with: (a) Laws or international guidance and

internal policies or procedures, (b) any demand from Authorities

or reporting, disclosure or other obligations under Laws, and

“Connected Person” means a person or entity (other than

you) whose information (including Personal Data or Tax

Information) you provide, or which is provided on your behalf,

to any member of the HSBC Group or which is otherwise

received by any member of the HSBC Group in connection

with the provision of the Services. A Connected Person may

include, but is not limited to, any guarantor, a director or

officer of a company, partners or members of a partnership,

any “substantial owner”, “controlling person”, or beneficial

owner, trustee, settlor or protector of a trust, account holder

of a designated account, payee of a designated payment, your

representative, agent or nominee, or any other persons or

entities with whom you have a relationship that is relevant to

your relationship with the HSBC Group;

“Controlling Persons” means individuals who exercise control

over an entity. For a trust, these are the settlor, the trustees,

the protector, the beneficiaries or class of beneficiaries, and

anybody else who exercises ultimate effective control over the

trust, and for entities other than a trust, these are persons in

equivalent or similar positions of control;

“Customer Information” means your Personal Data, confidential

information, and/or Tax Information or that of a Connected Person;

“Financial Crime” means money laundering, terrorist financing,

bribery, corruption, tax evasion, fraud, evasion of economic or

trade sanctions, and/or any acts or attempts to circumvent or

violate any Laws relating to these matters;

“Laws” include any local or foreign law, regulation, judgment

or court order, voluntary code, sanctions regime, agreement

between any member of the HSBC Group and an Authority,

or agreement or treaty between Authorities and applicable to

HSBC or a member of the HSBC Group;

“Personal Data” means any information relating to an individual

from which they can be identified;

“Services” includes (a) the opening, maintaining and closing of

your bank accounts, (b) providing you with credit facilities and

other banking products and services, processing applications,

credit and eligibility assessment, and (c) maintaining our

overall relationship with you, including marketing services

or products to you, market research, insurance, audit and

administrative purposes;

“Substantial Owners” means any individuals entitled to more

than 10% of the profits of or with an interest of more than 10%

in an entity either directly or indirectly;

“Tax Authorities” means UK or foreign tax, revenue or

monetary Authorities (for example, Her Majesty’s Revenue

and Customs);

“Tax Certification Forms” means any forms or other

documentation as may be issued or required by a Tax Authority

or by us from time to time to confirm your tax status or the tax

status of a Connected Person;

“Tax Information” means documentation or information about

your tax status and the tax status of any owner, Controlling

Person, Substantial Owner or beneficial owner.

Reference to the singular includes the plural (and vice versa).

4.1 Collection, processing and sharing of customer information

These clauses 4.1 - 4.11 explain how we will use your

information and that of Connected Persons. By using the

Services, you agree that we and members of the HSBC

Group shall use Customer Information in accordance with

such clauses.

Customer Information will not be disclosed to anyone

(including other members of the HSBC Group), other

than where:

• we are legally required to disclose;

• we have a public duty to disclose;

• our or a third party’s legitimate business purposes

require disclosure;

• the disclosure is made with your consent; or

• it is disclosed as set out in this clause.

Collection

4.1.1 We and other members of the HSBC Group may collect,

use and share Customer Information (including relevant

information about you, your transactions, your use of our

products and services, and your relationships with the

HSBC Group). Customer Information may be requested by

us or on our behalf or that of the HSBC Group, and may

be collected from you directly, from a person acting on

your behalf, or from other sources (including from publicly

available information), and it may be generated or combined

with other information available to us or any member of the

HSBC Group.

Processing

4.1.2 Customer Information will be processed, transferred

and disclosed by us and/or members of the HSBC

Group in connection with the following purposes:

a. the provision of Services and to approve, manage,

administer or effect any transactions that you request

or authorise;

b. meeting Compliance Obligations;

c. conducting Financial Crime Risk Management Activity;

d. collecting any amounts due and outstanding from you;

e. conducting credit checks and obtaining or providing

credit references;

f. enforcing or defending our rights, or those of a member

of the HSBC Group;

g. for our internal operational requirements or those of the

HSBC Group (including credit and risk management,

system or product development and planning,

insurance, audit and administrative purposes);

h. maintaining our overall relationship with you (including,

if you agree, marketing or promoting financial services

or related products, and market research); and

i. verifying your identity, (the “Purposes”).

4.2 Sharing

4.2.1 By using the Services, you agree that we may, as

necessary and appropriate for the Purposes, transfer

and disclose any Customer Information to the following

recipients globally (who may also process, transfer and

disclose such Customer Information for the Purposes):

a. any member of the HSBC Group;

b. any sub-contractors, agents, service providers,

or associates of the HSBC Group (including their

employees, directors and officers);

c. any Authorities, in response to their requests, or

where you have provided us with false or inaccurate

information and Financial Crime is detected;

d. persons acting on your behalf, payment recipients,

beneficiaries, account nominees, intermediary,

correspondent and agent banks, clearing houses,

clearing or settlement systems, market counterparties,

upstream withholding agents, swap or trade

repositories, stock exchanges, companies in which you

have an interest in securities (where such securities are

held by us for you);

e. any party to a transaction acquiring interest in, or

assuming risk in, or in connection with, the Services;

f. other financial institutions, fraud prevention

organisations, trade associations, credit reference

agencies or credit bureaus, and debt recovery agents;

g. any third party fund manager who provides asset

management services to you;

h. any introducing broker to whom we provide

introductions or referrals;

i. in connection with any HSBC business transfer,

disposal, merger or acquisition; and

j. selected third parties for marketing purposes, where

you have consented to marketing, wherever located,

including in jurisdictions which do not have data

protection laws that provide the same level of protection

as the jurisdiction in which the Services are supplied.

4.2.2 The above recipients may also process, transfer

and disclose Customer Information for the purposes

set out above and they may be in countries where

data protection laws don’t provide the same level of

protection as that in which your account is maintained.

If you appear to be tax resident outside of Jersey, then

regulations on international tax transparency require

us to report certain information about you and certain

Connected Persons to the Jersey Tax Authority where

your account is held. Under international agreements to

exchange account information that Tax Authority may

transfer this information to the Tax Authorities of other

jurisdictions in which you or a Connected Person may

be tax resident.

However, irrespective of where it is processed

Customer Information will be protected by a strict code

of secrecy and security applying to all members of

the HSBC Group, their staff and third parties holding

information on their behalf.

4.3 Your obligations

4.3.1 You agree to inform us promptly, and in any event,

within 30 days in writing if there are any changes to

Customer Information supplied to us or a member of

the HSBC Group from time to time, and to respond

promptly to any request from us or a member of the

HSBC Group.

4.3.2 You must ensure that every Connected Person whose

information (including Personal Data or Tax Information)

you (or anyone else on your behalf) provided, or will

from time to time provide, to us or a member of the

HSBC Group has been notified of and agreed to the

processing, disclosure and transfer of their information

as set out in these Terms before their information is

provided. You must at the same time advise them that

they have rights of access to, and correction of, their

Personal Data.

4.3.3 Where:

• you fail to provide promptly Customer Information that

we reasonably requested, or

• you withhold or withdraw any consents that we

may need to process, transfer or disclose Customer

Information for the Purposes (except for purposes

connected with marketing or promoting products and

services to you), or

• we have, or a member of the HSBC Group has, suspicions

regarding Financial Crime or an associated risk,

We may:

a. be unable to provide new, or continue to provide all

or part of the Services to you and reserve the right to

terminate our relationship with you;

b. take actions necessary for us or a member of the HSBC

Group to meet the Compliance Obligations; and/or

c. block, transfer or close your account(s) where permitted

under local Laws.

In addition, if you fail to supply promptly your, or a

Connected Person’s, Tax Information and accompanying

statements, waivers and consents, as may be requested,

then we may make our own judgement with respect to

your status, including whether you are reportable to a Tax

Authority, and may require us or other persons to withhold

amounts as may be legally required by any Tax Authority

and paying such amounts to the appropriate Tax Authority.

4.4 Data protection

Whether it is processed in a home jurisdiction or overseas,

in accordance with data protection legislation, Customer

Information will be protected by a strict code of secrecy and

security which all members of the HSBC Group, their staff

and third parties are subject to.

4.4.1 Under data protection legislation, you can make a written

request for a copy of certain personal records we hold

about you. The current fee is GBP10 per request from

each individual.

4.5 Financial crime risk management activity

4.5.1 We, and members of the HSBC Group, are required,

and may take any action to meet Compliance

Obligations relating to or in connection with the

detection, investigation and prevention of Financial

Crime (“Financial Crime Risk Management Activity”).

Such action may include, but is not limited to:

(a) screening, intercepting and investigating any instruction,

communication, drawdown request, application for

Services, or any payment sent to or by you, or on

your behalf,

(b) investigating the source of or intended recipient of funds

information in the possession of the HSBC Group,

and/or

(d) making further enquiries as to the status of a person or

entity, whether they are subject to a sanctions regime,

or confirming your identity and status.

4.5.2 Exceptionally, our Financial Crime Risk Management

Activity may lead to us delaying, blocking or refusing

the making or clearing of any payment, the processing

of your instructions or application for Services or the

provision of all or part of the Services. To the extent

permissible by law, neither we nor any other member of

HSBC Group shall be liable to you or any third party in

respect of any loss (however it arose) that was suffered

or incurred by you or a third party, caused in whole or

in part in connection with the undertaking of Financial

Crime Risk Management Activity.

4.6 Tax compliance

You acknowledge that you are solely responsible for

understanding and complying with your tax obligations

(including but not limited to tax payment or filing of returns

or other required documentation relating to the payment

of all relevant taxes) in all jurisdictions in which those

obligations arise and relating to the opening and use of

account(s) and/or Services provided by us and/or members

of the HSBC Group. Each Connected Person acting in

their capacity as a Connected Person (and not in their

personal capacity) also makes the same acknowledgement

in their own regard. Certain countries may have tax

legislation with extra-territorial effect regardless of your

or any Connected Person’s place of domicile, residence,

citizenship or incorporation. Neither we nor any member

of the HSBC Group provide tax advice. You are advised

to seek independent legal and/or tax advice. Neither we

nor any member of the HSBC Group have responsibility in

respect of your tax obligations in any jurisdiction which they

may arise including any that may relate specifically to the

opening and use of account(s) and/or Services provided by

us and/or members of the HSBC Group.

4.7 Credit reference and fraud prevention

4.7.1 If you apply for a current account or credit, we may

use details of your credit history to assess your ability to

meet your financial commitments. The credit reference

agencies will record details which will form part of your

credit history whether or not you proceed with your

application. If you make several applications within a

short period of time, this may temporarily affect your

ability to obtain credit. We may share details of how you

manage any current accounts or borrowing from us with

credit reference agencies.

4.7.2 If we make demand for repayment following default

and you fail to repay the full amount due or to make and

keep to acceptable proposals for repayment within 28

days, we may (in the absence of any genuine dispute

about the amount owed), register the default with the

credit reference agencies. This may affect your ability

to obtain further credit.

4.7.3 If you make a joint application for a current account

or credit, an association linking your financial records

with those of your fellow applicant(s) will be created

by the credit reference agencies. The credit history of

your ‘associates’ may be taken into consideration in

any future application for credit. The association will

continue to link your credit histories unless and until

you successfully file a ‘notice of disassociation’ with

the credit reference agencies.

4.7.4 Further details on credit scoring and explaining how

information held by credit reference agencies and fraud

prevention agencies may be used is set out in a leaflet

entitled “Guide to Credit Scoring, Credit Reference and

Fraud Prevention Agencies” available on our website

www.expat.hsbc.com.

4.8 Website and email personalisation

When you use a computer or other device to access

websites operated by or on behalf of the HSBC Group and

associated third parties, information may be stored and

accessed on that device:

• to improve your experience;

• to improve the functionality, security and performance

of those websites;

• to provide you with promotional content; and/or

• to provide us with information about how those websites

are used and how users arrive at those websites.

In the event that you receive emails sent by or on behalf of

the HSBC Group, such emails may contain technologies to

track for market research purposes whether you opened

those emails and whether you accessed internet links

contained within those emails. You agree to information

being stored, accessed and used in this way.

Members of the HSBC Group may also exchange,

analyse and use relevant information about you in the

ways described above to ensure that promotional content

displayed to you on screen when you use HSBC Group

websites is more likely to be relevant and of interest.

Further information on our cookie policy, site terms and

privacy statement is available at our website

www.expat.hsbc.com.

4.9 Further information and marketing

4.9.1 To ensure that we carry out your instructions

accurately, to help us to improve our service and in the

interests of security, we may monitor and/or record

your communications with us including telephone or

video calls and conversations we have with you in our

branches. In the interests of security and for preventing

and investigating crime we may use closed-circuit

television in and around our premises for the monitoring

and collection of sound and/or visual images. Any

recordings remain our sole property.

4.9.2 We may make and retain copies of passports, driving

licences or other identification evidence that you provide.

4.9.3 We will obtain your written consent before providing

a banker’s reference about you, however, if we receive

a request from another financial services institution we

will provide information required to verify your identity

for money laundering prevention purposes. We may in

some cases not be in a position to provide a banker’s

reference on your behalf.

4.9.4 If you change your mind at any time about receiving

marketing information via post, telephone, email or any

other method, or about participating in market research,

then please let us know.

4.10 Miscellaneous

4.10.1 In the event of any conflict or inconsistency between

any of these Terms and those in any other service,

product, business relationship, account or agreement

between you and us, these Terms shall prevail.

Any consents, authorisations, HSBC requested waivers

and permissions that already exist from you in relation

to Customer Information shall continue to apply in full

force and effect, to the extent permissible by applicable

local law.

4.10.2 If all or any part of the provisions of these Terms

become illegal, invalid or unenforceable in any respect

under the law of any jurisdiction, that shall not affect

or impair the legality, validity or enforceability of such

provision in any other jurisdictions or the remainder of

these Terms in that jurisdiction.

4.11 Survival upon termination

These clauses 4.1 – 4.11 shall continue to apply

notwithstanding any termination by us or a member of the

HSBC Group of the provision of any Services to you or the

closure of any account.

5. Changing the Terms - general information

5.1 We may change interest rates and other Terms in

accordance with this clause 5 and clauses 6 to 10 in

this Section.

5.2 For products or services that you have which have particular

terms that are fixed, please see the Additional Conditions

for information on the circumstances in which we may

make changes to those terms. If there is a conflict between

this clause 5 or clauses 6 to 10 in this Section and those

Additional Conditions, the Additional Conditions will apply.

5.3 We can tell you about changes by notice on our website

www.expat.hsbc.com, through our Online Banking Service,

through our Telephone Banking Service or personally.

When we tell you about a change personally, we may

do this by post, email, Secure Message, a message on

your statement or in another way that will be sent to

you individually.

6. Interest Rate Changes

6.1 We may change interest rates applied to money you have

with us in your account. If we do this, we will update the

information on our Online Banking Service and/or our

website within three working days of any change.

6.2 Our overdraft rates are linked to, and track, the Bank

of England Base Rate (for sterling overdrafts), the US

Federal Reserve Funds Rate (for US dollar overdrafts)

or the European Central Bank Euro Repo Rate (for euro

overdrafts). If the underlying rate changes, then our

overdraft rates will change within one calendar month.

Details of our current overdraft rates are available within

our Tariff of Charges.

6.3 We may change the amount by which your overdraft

interest rate is set above or below the Bank of England

Base Rate, the US Federal Reserve Funds Rate or the

European Central Bank Repo Rate. If the change is

unfavourable, we will give you at least 30 days’ advance

personal notice. If it is favourable to you, then we will tell

you about the change within 30 days.

7. Other changes to the Terms

7.1 We may make changes to the monthly underfunding

charges for the HSBC Premier Service and the HSBC

Advance Service by giving you at least 30 days’ personal

advance notice.

7.2 We may make changes to any charges in the Tariff of

Charges (other than the monthly charges described in

clause 7.1 above) including changes to the basis on which

we charge for operating/providing product(s)/service(s) by

giving you at least 30 days’ advance personal notice.

7.3 We may make any other changes to the Terms (including

changes to any charges in the Tariff of Charges and

changes to the basis on which we charge for operating/

providing product(s)/service(s)), in the following ways:

• if the change is favourable to you, by within 30 days

of the change, telling you about it personally; or

• if the change is not favourable to you, by giving you at

least 30 days’ advance personal notice.

8. Reasons for making changes

We may make any change under clauses 5 to 7 in this

Section for all or any of the reasons set out in this clause 8

that apply:

• if the change is favourable to you;

• following, or in anticipation of, and to respond to a

change in relevant law or regulation, or to respond to a

change in industry guidance or code of practice or good

banking practice;

• to respond to the making of a relevant recommendation,

requirement or decision of any court, regulator or

similar body;

• to respond to the cost or consequences of any event

beyond our control that may impact our provision of

accounts, services or facilities to you;

• to make the terms clearer;

• to respond to any change in our systems and

procedures, including any change arising from any

reorganisation of our business as a result of it being

acquired by, or by our acquiring, another bank

or organisation;

• to respond to any change in the base rate, or any rate

that replaces it, as set by the Bank of England or by any

bank that takes over responsibility for setting such a

rate (or the equivalent rate set by the relevant country’s

central bank when dealing with foreign currency);

• to respond to changes or anticipated changes in costs

associated with relevant technology, the costs we pay

to others in respect of the product in question, inflation

and/or in our cost of providing accounts, services

or facilities;

• to respond to any changes or anticipated changes in

money market interest rates or the cost to us of money

we lend;

• to improve the services we provide; or

• to respond to our internal policies on competitiveness,

market share and/or the profitability of our business as

a whole, where we are not acting dishonestly, for an

improper purpose, in a manner which inappropriately

discriminates against a particular customer or as an

unreasonable financial institution would.

9. Other reasons for making changes

We may also make a change to these Terms (other than a

change of the term of any fixed term product to which they

apply) under clauses 5 to 7 (in this Section) for any other

valid reason.

10. What you can do when we tell you about a change

10.1 When we give you advance notice of a change we intend

to make in accordance with clauses 5 to 8 in this Section

before the change takes effect, or for changes that are not

favourable to you made in accordance with clause 7.3 in

this Section up to 30 days after the date of the notice to

you, you may end this contract and close your account in

accordance with clause 10 in Section 2 of these Terms. If

you do not tell us that you want to end this contract, and if

we do not hear from you as described in clause 10.2 below,

before the date each change is to take effect, then you will

be deemed to have accepted the change and it will take

effect automatically.

10.2 If you do not accept a change made under clauses 5 to 10

in this Section, then you must tell us before the changes

take effect and we will treat this as notice from you to

end this contract and close your account immediately, in

accordance with clause 10 of Section 2 of these Terms.

Section 2 Your Accounts

1. Opening an account

We may decline to open an account, refuse an application,

suspend the use of or request the closure of an account,

without giving a reason for any such decision. The minimum

balance required to open an account may be higher than

specified on our website and banking application forms for

nationals or residents of a limited number of countries.

2. Operating your account(s)

2.1 Joint accounts

2.1.1 Unless this conflicts with another authority given in

writing on the joint account, and until any one of you

cancels this authority, you authorise us to:

• pay all cheques and accept other instructions for

payment or to stop payments, signed or given by

any one of you, whether the account is in debit or

credit; and

• accept instructions signed or given to us by any

one of you to act on behalf of you all, in all other

transactions with us, including providing an overdraft

or other facility, opening further accounts in your

joint names (please also see clause 8.2 in this

Section) or changing your statement preference.

2.1.2 We will accept such authority until it is cancelled by

any one of you or treated by us as cancelled under

clause 2.1.3 in this Section or cancelled by law.

2.1.3 If any one of you tells us of a dispute between any of

you, we may treat this as notice of cancellation of the

authority set out at clause 2.1.1 above. If we do, any

further transactions, including payments by standing

order or direct debit, will need the authority of you all,

and the use of additional services such as our Online

Banking Service may be suspended (this would mean

that you would have to make alternative arrangements

for your regular payments to be made). We may also

ask for the return of any unused cheques and cards.

Until all the cards are returned, card transactions

(including those carried out via self-service machines)

will continue to be deducted from the joint account.

We will need the authority of all of you to pay out any

credit balance on the joint account or to close the

joint account.

2.1.4 We may disclose to any of you any information we

hold about the account(s), including historical statement

information. This means that where a sole account is

converted into a joint account, statement information

relating to the account when it was a sole account may

be made available to any of the joint account holders.

2.1.5 If you wish to change or add names to a joint

account, we require written advice signed by all parties

to the account. This will be in addition to any other

documentation we may require from any or all parties.

2.1.6 If you wish to remove a name from a joint account, we

will need to close the account and open a new account

in the name of the remaining party(ies). We will require

written advice signed by all parties to the account to

make this change.

2.1.7 On the death of a joint account holder, control of the

account will pass to the survivor(s) on production of

the death certificate, subject to any rights which we or

a third party may have. You should also refer to clause

10.8 in this Section.

2.1.8 You agree that if any one of you registers for our

Online Banking Service:

2.1.8.1 We may provide our Online Banking Service in

respect of your joint account even if not all of you

have registered for our Online Banking Service

2.1.8.2 You will be bound by our Online Banking Service

terms (terms are available upon request or on our

website www.expat.hsbc.com);

2.1.8.3 We may follow any instructions given to us in

relation to your joint account by any one of you,

even if any joint account mandate requires the

authority of more than one of you. This clause

overrides the mandates.

2.1.9 Where a joint account is held, and providing the

account is eligible for the service, we may:

• provide our Online Banking Service in relation to

your joint account if we have accepted an application

for such service from any of you and the service is

available for that account;

• and make information about your joint account

available through the service.

2.1.10 In respect of an Investment Account held in

joint names:

when using our Online Banking Service to redeem part

or all of the investment, proceeds from the redemption

will be paid into a bank account held with us in the

same names as the investment shareholders only.

Redemptions from sole accounts may be paid to a

joint bank account held with us provided that the sole

account holder initiating the instruction is one of the

joint account holders.

2.1.11 Please also see clause 4.7 in Section 1 for credit

reference agency, clause 1.19 in Section 1 for Set-

Off, clause 8.2 in this Section 2 for responsibility for

borrowing, clause 10.2 in this Section 2 for closing an

account, clause 2.2.1 in this Section 2 for statements,

clause 11.5.1 to 11.5.2 in this Section 2 for fees.

2.2 Statements

2.2.1 We’ll either post you a paper statement regularly (at

least every 12 months) to your correspondence address,

or your statement will be available to view within our

Online Banking Service. There may be a charge for each

paper statement we send you. Please refer to our Tariff

of Charges for details on charges for paper statements.

For joint accounts, if one account holder registers for

our Online Banking Service, then the statement delivery

preference for each account holder will be changed to

online statements (even for account holders who have

not registered for Online Banking Service).

By registering for this Online Banking Services, your

account statement delivery preference will automatically

be changed so that you will be sent online statements

on a monthly basis or, in the case of a Fixed Term

Deposit Account, upon maturity. Any existing Online

Banking customers will be notified prior to migrating

their statement preference to online statements. Online

statements are free of charge.

You, or any other party on the account, can change your

statement delivery preference back to paper statements

at any time by calling us.

2.2.2 You must read your statements carefully on receipt or

when they are available online. To help us prevent fraud,

you must tell us immediately by calling us, if you do not

recognise any transaction shown on your statement or

if you think any payment you have authorised has been

executed incorrectly. If you do not tell us promptly (at

the latest within 13 months of the date the transaction

was deducted from your account), you may not be

entitled to have any errors corrected.

It is Important to view your transactions regularly and

keep track of your balance, review any overdraft usage

and identify unusual or irregular transactions on your

accounts. If you have opted for Online statements via

our Online Banking Service, an email advice will be sent

directly to your email address when your statement

is ready for delivery. Please ensure that you maintain

an active internet banking profile in order to be able to

receive your statements. If you are having difficulties

accessing your online statements or would like to

discuss your statement needs further please contact

us on 01534 616313.

2.2.3. If we need to restrict your access to online banking

for any reason we will send you paper statements

instead, please refer to our Tariff for details about the

cost of paper statements.

2.2.4 When we provide you with details of the balance, it

may include transactions that are still in the process of

being cleared and so may be subject to change. We

may also provide you with the available balance on your

account; this represents funds that you are able to draw.

3. Payments into your account(s)

3.1 We will only accept sterling cheques which are payable to

you for payment into your account(s). We do not accept

cash or travellers cheques into your account.

3.2 Banking of cheques for payment will at all times be subject

to the rules and clearing processes of any cheque clearing

system(s) used by us.

3.3 You can pay sterling cheques into your Bank Account,

Saver Account, 30 and 90 Day Notice Accounts and

Multi Currency Cheque Deposit Accounts by post. To do

so, you must provide details of your name, your account

number, your address and your signature. We will only be

responsible for these after we have received them. We

do not accept non-sterling cheques below the currency

equivalent of GBP50 and if we receive such cheques from

you, we will return them to you.

3.4 You must get prior confirmation from us before sending us

currency cheques in excess of the currency equivalent of

£250,000 for payment into your account. If you do not do

so, we will return the cheque to you.

3.5 We do not accept cheques in the currency South African

Rand, if we receive a cheque in this currency we will return

it to you.

3.6 If you wish to pay in a cheque made out in one currency

into an account in a different currency, we will apply the

prevailing HSBC Expat exchange rate to that transaction.

3.7 You can pay funds into your account(s) by electronic transfer

from any bank. We may return payments with incomplete,

conflicting or incorrect details, and will not be responsible

for any loss as a result of this.

3.8 Although we accept Faster Payments these payments are

considered international transfers therefore may require

additional checks could result in the payment being delayed.

3.9 If we receive a payment in a different currency to the

currency of your account and your correct BIC and IBAN is

attached to that payment, we will convert the payment into

the currency of your account at the HSBC exchange rate

applicable when we receive the payment. We will then add

the payment to your account.

3.10 If you instruct us to make a payment from your account

in the currency of your account to a beneficiary with an

account denominated in a different currency, we may

route the payment through an intermediary bank (which

may be a member of the HSBC Group). If the payment

is to an account denominated in a different currency, the

intermediary bank may (but is not obliged to) carry out the

currency conversion. If such conversion is made it will be

at the prevailing market rate (chosen by the intermediary).

We will, on request, obtain and communicate the exchange

rate which has been applied by the intermediary after

the currency conversion has taken place. We may have

commercial arrangements in place with such intermediaries.

You acknowledge that we are not acting as your agent in

routing payments involving a currency conversion through

intermediaries.

3.11 If a sterling cheque or standing order is paid into your

account, but is subsequently returned unpaid, the amount

originally credited to your account will be deducted and we

will tell you once this has been done. Depending on why it

was unpaid, we will either re-present it (for cheques only)

to the drawer’s bank or return it to you. We may charge you

for this.

3.12 If an electronic payment is fraudulently or mistakenly

paid into your account, the amount of the payment may

subsequently be deducted. This may happen even if the

funds are included in the balance of your account, you

have used the funds to make a payment, transferred or

withdrawn all or part of them. If the deduction of the

payment from your account would either make your

account go overdrawn or go over an existing overdraft limit,

we will treat this as an informal request for an overdraft.

Please see clause 7.3 in this Section for information

on overdrafts.

3.13 Cheques made payable to two or more people may only

be paid into an account which is in the names of all

those persons.

3.14 By foreign cheques, we mean non-sterling cheques or

cheques drawn on an overseas bank. Foreign cheques

which you wish to pay into your account will be cleared

either by collection or by negotiation. Because of difficulties

that occur from time to time with foreign cheques, for

example exchange restrictions, we may not always be

able to negotiate or collect these cheques for you. We will

contact you to advise you in such an event. Your account

will be debited with any charges incurred by us and by

our agents. We will not be liable for any costs, loss,

damage or delay, however caused, unless it is as a result

of our negligence or default. Should we receive payment

in a different currency from that in which the item is drawn

neither we nor our agents will be liable for any loss in

exchanging the proceeds.

3.15 If a cheque is sent for collection, this means that your

account will not be credited until we have received the

funds from the paying bank which may take up to

eight weeks. However, in the event of the cheque being

dishonoured, your account will be debited with any fees

and unpaid cheque charges.

3.16 We may agree to negotiate a cheque although we are

not obliged to do so. This means that we will add to your

account within seven business days the full amount or the

converted amount if the cheque is in a different currency

to your account. If the cheque is returned unpaid, we will

have ‘recourse’ against you (and anyone who has signed or

endorsed it) and we can deduct from your account either

the amount we added or, if we converted the cheque into

another currency, the amount reconverted at the exchange

rate applicable on the date we make the deduction,

together with any fees and charges, and any costs arising

from foreign exchange transactions. We cannot be held

responsible for any loss incurred.

3.17 The Uniform Rules for Collections, as published by the

International Chamber of Commerce from time to time, also

apply to any negotiation or collection of foreign cheques or

other forms of foreign payment.

3.18 You must sign and print your name on the back of any

foreign cheques you pay into your account. Your signature

and printed name should be in the same form as your name

on the front of the cheque.

3.19 If we receive a payment for your account that does not

carry correct account information and we are not able to

allocate it to your account, we will return it to the remitting

bank. We will deduct a charge from the payment for

returning it. Details of the charge are set out in our Tariff

of Charges.

4. Payments you can make

4.1 You can make the following types of payments from

your account:

• electronic payments;

• cheques (if you have a cheque book);

• standing orders (sterling bank account only);

• Direct Debits (sterling bank account only);

• debit card payments (if you have been issued with

a debit card).

4.2 We will make payments from your account(s) if:

• you authorise them in any of the ways set out in these

Terms, but we may decline to make a payment if the

amount exceeds any limit we may set for monitoring

or fraud prevention purposes; and

• there are enough cleared funds in your account to cover

the payments, or they are covered by an overdraft

that we have agreed following a formal or informal

request from you, made in one of the ways described

in clause 7.3 in this Section. We may consider any other

payments we have made, or have agreed to make from

your account(s), or which have already been authorised,

such as card transactions. This will be regardless of

whether or not these transactions have already been

deducted from your account. See clause 7 in this

Section. If your account is subject to a notice period,

then we will make a payment from it after the notice

period has expired. If you do not give us the required

notice, then we may make a charge.

4.3 You must provide us with all the following details to enable

us to make an electronic payment from your account:

• the correct details of the recipient’s bank, including the

bank’s SWIFT Bank Identifier Code (BIC) address, sort

code or national bank code;

• the recipient’s bank account number or International

Bank Account Number (IBAN);

• the name and address of the recipient to whom the

payment is made;

• your own account number, name and address; and

• the recipient’s reference, if applicable.

4.4 For payments to another bank account, we will make

sure payments are sent to the recipient’s bank. It is the

recipient’s bank’s responsibility to make sure the payment

is added to the bank account of the recipient. Some

recipient banks will only use the BIC address, sort code or

national bank code and the account number or IBAN when

doing this.

4.5 If we receive:

• any cheque drawn by you; or

• any debit card transaction on your account; or

• any other payment or withdrawal instruction or request

made by you (or by anyone with your authority) to us in

any way that would, if honoured by us, either make your

account go overdrawn or go over an existing overdraft

limit, we will treat this as an informal request from you

for an overdraft – please see clause 7.3 in this Section

for further details.

4.6 There may be a delay in us carrying out your instructions

for a payment to be made from your account while fraud

prevention checks take place. We may contact you by

text message, telephone or by email, even after we have

accepted a payment request, for further validation checks.

If we are not able to contact you, this may result in a delay

in the payment being made or us not making the payment.

4.7 If you also have investment accounts with all or any of

HSBC Fund Administration (Jersey) Limited, HSBC Funds

Nominee (Jersey) Limited or HSBC Bank plc, we may

consider the overall position on these accounts before

deciding whether to make payment from any of your

account(s) with us. However, we are not obliged to take

an overall view.

4.8 Any request for notes is to be made at a self-service

machine. We cannot accept telephone, electronic or written

requests for cash withdrawals of physical notes from

an account.

We will only authorise an encashment in any branch of

HSBC Bank in the case of emergencies whereby all other

means of cash withdrawal has failed.

4.9 We will commence processing instructions for payments

from your account(s) (including transfers between your

accounts held with us) received by 10:00 am UK time on

any business day (the term “business day” excludes all

Saturdays, Sundays and all public holidays) on that day. We

may commence processing instructions received later than

this the next business day.

4.10 When you instruct us to make an immediate payment, we

will do this as soon as we can. You can instruct us to stop

or cancel a payment as long as:

• the amount has not been taken out of your account;

• we have not told the person to whom it is payable or

their bank that it will be paid;

• for payment instructions given to us in advance,

including standing order and Direct Debit, you ask us

no later than the day before the payment is due; and

• it is not a cash or a card payment.

To cancel a Direct Debit, or other regular payment, you

should also tell the party that collects the payment from your

account. For cheques, please see clause 3.8 in Section 1.

4.11 If you wish to transfer between currencies, two business

days are required to transfer the funds. Any transaction

involving two different currencies will be processed at the

prevailing HSBC Expat exchange rate at the time of the

transaction. Indicative currency exchange rates are available

on our website www.expat.hsbc.com, via our Online

Banking Service or by telephoning us.

4.12 Payments to other accounts with us, with other companies

in the HSBC Group or with other banks, will be charged in

accordance with our Tariff of Charges.

4.13 “If you instruct us to make a payment from your account

to an account denominated in a different currency, we

may (unless you have prior to this contacted us by Secure

Message or telephone and requested that we do not

do so) route the payment through an intermediary bank

(which may be a member of the HSBC Group). Such

intermediary bank may (but is not obliged to) carry out

the currency conversion. If such currency conversion is

made it will be at the prevailing market rate (chosen by the

intermediary). We will, on request, obtain and communicate

to you the exchange rate which has been applied by the

intermediary after the currency conversion has taken place

(see contents page for our contact details). We may have

commercial agreements in place with such intermediaries.

You acknowledge that we are not acting as your agent

in routing payments involving a currency conversion

through intermediaries. We provide a payment service

to certain banks around the world through our network

of correspondent banking agents, subject to the charges

detailed within our Tariff of Charges as published from time

to time. Most payments will be processed on a SPOT basis,

i.e. two business days forward value.”

4.14 We and our overseas agents will take all reasonable care

in the processing of payments. Should such care not be

exercised, we will be responsible for any loss of interest,

but not loss of contracts or profits or other consequential

loss, whether direct or indirect.

4.15 In some parts of the world, payments may be made to a

designated account number whether or not this account

number correctly identifies the intended beneficiary. You must,

therefore, ensure that both the account number and the name

of the beneficiary are correctly stated in your instructions to

us. We do not accept any liability for any kind of loss resulting

from an incorrect description of the beneficiary’s name or

account number in any instruction to us.

4.16 If you make a payment using our Telephone Banking

Service or Online Banking Service, you can generally expect

electronic payments to be received within five banking

days of the date on which we make them (a banking day

is when banks are open for international business in both

the financial centres the payment is being made to and

from). Payments may, however, be delayed if there are

complications in the routing of payments through overseas

banking systems. In addition, the times when payments

may be received vary according to where these payments

are being sent. As a result, we can give no general

assurance as to when payments will be received. You

may want to call us to discuss your needs in advance.

4.17 If you make a payment that does not require a foreign

currency exchange via our Telephone Banking Service or

our Online Banking Service to another current or savings

account you hold with us or to the account of someone

who banks with us, clause 4.16 in this Section will not

apply. If you make a payment using our Online Banking

Service, it will be deducted from your account immediately

and will normally reach the account of the recipient on the

same day. If you make a payment using our Telephone

Banking Service, it will be deducted from your account

immediately and will normally reach the account of the

recipient by the next business day.

4.18 You cannot cancel any request for an overseas payment

once the request has been made. At your request we may,

however, be able to recall the payment (although this is

not guaranteed) and, once we have received the proceeds,

we will credit your account. You will be responsible for any

incidental fees or charges incurred. Any proceeds may be

credited to an account in a different currency converted

at our prevailing exchange rate at the time of return. We

cannot be held responsible for any loss incurred.

4.19 Where payments are returned to us because of an error

in your instructions to us, we will credit your account once

we have received the proceeds. You will be responsible for

any incidental fees or charges incurred. Any proceeds may

be credited to an account in a different currency converted

at the prevailing exchange rate at the time of return. We

cannot be held responsible for any loss incurred.

4.20 Any expense we may incur in using the payment

services of an agent or overseas banker will be debited to

your account.

4.21 We cannot be held liable for any deductions made from

the payment by the receiving bank.

4.22 When writing a cheque, you must take all reasonable

precautions to prevent anyone else altering it or making

a forgery.

4.23 Cheque books are only available on request with bank

accounts and on Multi Currency Cheque Deposit Accounts.

If you have a cheque book or debit card for your account,

if either item is lost or stolen, or if you think that someone

has signed one of your cheques without your permission,

you must tell us as soon as you can.

4.24 You should not write a future date on your cheque as it

will not prevent the payee from paying it into their bank

account before that date.

4.25 If we receive for payment one of your cheques that is

more than six months old, we do not have to pay it but

we may do so.

4.26 All HSBC cards are issued by HSBC Bank plc in the UK.

The terms and conditions that apply to your card will be sent

to you when HSBC Bank plc sends you your debit card. Due

to the non-real time nature of HSBC Expat cards, you may

experience a slight delay when trying to access your money

via self-service machines or paying for goods and services

through a variety of channels, e.g. Internet, telephone,

television, mail order. This delay will be no longer than 36

hours excluding bank holidays. When transferring funds into

your account we recommend that you allow sufficient time

before paying for goods on your card.

4.27 Individuals who are resident but not domiciled in the

UK should note that use of their HSBC Bank plc debit

card, HSBC Bank plc credit card or American Express®

International Currency Card in the UK could be viewed by

HMRC (Her Majesty’s Revenue and Customs) as a transfer

of income into the UK and could lead to a UK income tax

liability on that income. If you are resident but not domiciled

in the UK, this could also happen as a result of using your

UK-based credit card worldwide or making payments to a

UK-based mortgage with HSBC Bank plc. Your tax position

will depend on your personal circumstances and you should

seek guidance from your tax adviser

4.28 For 30 Day Notice Accounts (which are no longer available

to open for new and/or existing customers), 30 days’ notice

must be given of any withdrawal you want to make. If you

fail to do this, 30 days’ interest will be charged, calculated

on the day you make the withdrawal. For 90 Day Notice

Accounts (which are no longer available to open for new

and/or existing customers), 90 days’ notice must be given

of any withdrawal you want to make. If you fail to do this,

90 days’ interest will be charged, calculated on the day you

make the withdrawal.

5. Charges

5.1 When you open an account, we will give you a copy of our

Tariff of Charges which includes details of charges and

interest rates that apply to the relevant product/service.

You can also find out details of these charges by telephoning

us or visiting our website www.expat.hsbc.com.

5.2 We may change at any time our charges and fees, set out

in the Tariff of Charges or otherwise in the Terms. We will

give you 30 days’ personal notice in accordance with clause

5 to 10 in Section 1 if we increase any of these charges or

fees, or if we introduce a new charge or fee.

5.3 We will tell you the charge for any other service or product

before we provide that service or product and at any time

you ask.

5.4 We may charge you negative interest on credit balances.

We will provide you with 30 days’ personal notice if we

start charging negative interest on any credit balances.

We will only start charging negative credit interest if

the prevailing market credit interest rate for the relevant

currency becomes negative.

6. Interest & Reporting

6.1 Information about our current interest rates is available on

our website www.expat.hsbc.com, or by telephoning us.

Credit interest is not payable on all our accounts.

6.2 Interest on sterling accounts is calculated on a 365-

day basis. Interest on most other currency accounts is

calculated on a 360- day basis. Interest rates are set

according to the type of account and the amount deposited.

Interest is paid monthly on Bank Accounts, Saver Account,

Online Saver account and Online Bonus Saver Account,

and bi-annually in April and October on Currency Savings

Accounts, 30 Day and 90 Day Notice Accounts and Multi

Currency Cheque Deposit Accounts.

6.3 When an account is closed, the interest due since the last

payment was made will be added to the closing balance.

6.4 In the absence of instructions to the contrary, interest will be

added to the balance of your account. We may vary the rate

of any interest payable and the interval at which it is paid.

If we do this, we will update the information on our

Telephone Banking Service, Online Banking Service and/or

website within three working days.

6.5 On request, credit interest can be paid into a different

account from that to which it applied or which it

accumulated on.

7. Borrowing from us

7.1 HSBC Premier customers with a Bank Account can request

borrowing by overdraft or by a separate loan. The most

suitable form of borrowing will be agreed between you and

us. In some cases we may need security. Before we lend

you any money, we will assess whether we feel you will be

able to repay. This assessment may include looking at:

• your income and financial commitments;

• how you have handled your finances in the past;

• information we get from credit reference agencies and,

with your permission, others, such as your lenders, your

employer and your landlord;

• information you give us, including information to prove

your identity and why you want to borrow;

• credit assessment techniques such as credit scoring;

and

• any security provided.

HSBC Advance customers with a bank account can apply for

a formal overdraft facility in exceptional circumstances only.

7.2 You must not borrow on any of our savings accounts. If

there is, at any time, a debit balance on any savings account

you have with us, then we will be entitled to charge interest

on the amount by which it is overdrawn.

We may continue to charge Overdraft Interest until there is

a cleared credit balance on your account.

7.3 You can request an overdraft, or an increase to an existing

overdraft, on our current accounts. You can do this in one

of two ways, either:

• by way of a formal request, that is you ask us for,

and we agree to provide you with, an overdraft or

an increase to an existing overdraft limit before you

authorise any payments or withdrawals from your

account that, if made by us, would cause your account

to go overdrawn or over an existing overdraft limit; or

• by way of an informal request, that is where you

authorise a payment or withdrawal to be made from

your account which, if made by us, would cause your

account to go overdrawn or over an existing overdraft

limit without having agreed with us in advance an

overdraft or an increase in an existing overdraft limit on

your account to cover such payment.

7.3.1 If we receive a formal request for an overdraft or an

increase to an existing overdraft limit from you, we will

consider your request and, if we agree to it, we will

send you a letter setting out the terms of the overdraft.

An arrangement fee may be charged if we agree to

your formal request. We may agree to provide you with

another overdraft at the end of the term of your facility

and, if we do so, a renewal fee may be payable.

7.3.2 If we receive an informal request for an overdraft from

you, we will consider your request and, if we agree to it,

we will provide you with an overdraft to cover the item

concerned for 31 days. We may charge you a fee for

any calendar month, or any part of a calendar month,

if either:

• you are overdrawn without having agreed a formal

overdraft limit with us; or

• you are overdrawn above any formal overdraft limit.

If we do not agree to an informal request from you for

an overdraft or an increase to an existing overdraft limit,

then we will not make any payment authorised by you

that would cause your account to go overdrawn or over

any agreed overdraft limit.

We may charge for considering and returning these

informal payment requests. Please refer to clause 5 in

this Section and the Tariff of Charges for more details

about our charges.

7.4 We will charge Overdraft Interest whenever your account

goes overdrawn, on the amount by which it is overdrawn.

This will be charged at the overdraft rate applicable to your

service. We will tell you the interest rate when the overdraft

is agreed and you will later be advised in writing.

7.5 Every day, we will work out the Overdraft Interest you owe

on the cleared debit balance of your account. It will be

deducted from your account monthly.

7.6 We may cancel, reduce or increase your overdraft limit,

but we will advise you of this action.

7.7 Unless we have agreed other terms with you in writing,

we may, at any time, withdraw your overdraft facility and

demand immediate repayment of any money you owe to us.

Also, unless we agree otherwise with you, we will continue

to charge Overdraft Interest at the same rate and on the

same basis after demand or withdrawal has been made.

In the event of demand, interest will be calculated on the

amount demanded.

7.8 When your account is overdrawn, you should still make

regular payments into your account. You must tell us if you

are unable to do this.

7.9 You agree to indemnify us for any legal costs, expenses

and disbursements we may incur in relation to running your

account, including but not limited to any legal costs incurred

due to legal obligations imposed upon us in relation to your

account. We reserve the right to immediately set-off credit

balances you hold with us to reduce or repay these legal

costs, expenses or disbursements. If we decide to take this

action, we will tell you why and when it will be done.

8. Responsibility for borrowing

8.1 You are personally responsible for any money you owe us,

whether this arises from your own actions, from the actions

of someone authorised by you, or from the use of any card

that we, other HSBC Group companies or any other third

party has issued to you in connection with your banking

relationship with us.

8.2 If the account is in joint names, all of you are together and

individually responsible for any money owed to us. We may

demand repayment from all and any of you for any money

owing on the account. Please also see clause 2.1 in this

Section. Where any of you also has an account with us in

your sole name, and that account has a credit balance, we

can set off these monies against any money owing to us

on the joint account, even if the accounts are in different

currencies and/or jurisdictions. Please also see clause 7.9

in this Section and clause 1.19 in Section 1.

9. Inactive account(s)

9.1 If you have a current or a savings account and have not

undertaken any transactions through your accounts

(excluding automated transactions such as direct debits

or standing orders) for more than 12 months, then it will

be classified as an inactive account. If you don’t undertake

any transactions through the account(s) for 24 months an

account becomes restricted.

You can activate an inactive account by completing basic

banking activities such as debit transactions through

online banking services or through our call centre for

up to 24 months.

We will endeavour to advise you when an account has

been classified as an inactive account or become a

restricted account.

Occasionally we may not be able to contact you to give

you this advance notice, if this would compromise our

reasonable security measures or it is unlawful to do this.

9.2 To reactivate a restricted account, you will need to contact

us by telephone using your PBN and PIN or via secure

message through our Online Banking Service.

9.3 When logging into your online banking services, any

restricted accounts will be listed but you will be unable to

transact on them. You can of course, continue to use the

online banking service to access any other active account(s)

(if you have not yet registered for our online banking

services, at registration any restricted accounts

will not be available for selection).

When calling our contact centre or providing written

instructions you will be asked to go through additional

security, in order to re- activate a restricted account.

10. Closing your account(s)

10.1 For a period of 14 days after the date we open your

account, excluding Fixed Rate Saver Account and Fixed

Term Deposit Account, you have the right to cancel your

contract with us and close your account. You can do this

by telephoning us. We will give you all your money back

together with any interest it has earned.

10.2 If you wish to close an account in your sole name, you

may do so by advising us in writing, via our Telephone

Banking Service and via a Secure Message in our Online

Banking Service. Any joint account party can ask us to close

an account in your joint names or end the joint banking

relationship with us, unless there are circumstances that

require us to obtain authorisation from all of you.

10.3 If we wish to end our banking/account relationship with

you, we will give you at least 30 days’ notice in writing,

unless clause 10.4 applies.

10.4 We can end our banking/account relationship with you

immediately in the following situations:

10.4.1 If you have seriously or persistently broken any of the

Terms, including where:

• you are, or we reasonably suspect you may be,

using or obtaining, or allowing someone else to use

or obtain, an account, service or money illegally; or

• your account is, or we reasonably suspect your

account is, being used for an illegal purpose; or

• you are, or we reasonably suspect you may be,

acting fraudulently; or

• your behaviour is improper, for example you act

in a threatening or violent manner towards staff,

which makes it inappropriate for us to maintain your

account; or

• you were not entitled to open your account or take

out your service; or

• we have demanded that you repay an overdrawn

balance on your account to us and you fail to do so;

• you have not provided us with adequate information

required under clause 4.3.2, Section 1; or

10.4.2 if we reasonably consider that by continuing our

banking/relationship with you:

• we may break a law, regulation, code, court order

or other duty; or

• we, or another HSBC Group company, may be

exposed to action or censure from any government,

regulator or law enforcement agency.

10.5 We will automatically close your account if you:

• open an account and do not pay any money in

during the first three calendar months; or

• hold an account balance of less than $25 (or

currency equivalent) and there has been no

transactional activity on your account for at least

12 months.

10.6 We will require you to repay any money owed to us before

we close your account. If, after account closure, we or

other HSBC Group companies or any other third party pay

any cheques you have issued or card transactions you have

made or incur any charges relating to these, you agree to

repay us those amounts in full whether or not they have

been deducted from your account.

10.7 You must destroy and dispose of all cards that we, other

HSBC Group companies or any other third party have

issued to you in connection with your banking relationship

with us, by cutting them into at least six pieces, and destroy

any unused cheques.

10.8 In the event of the death of a sole account holder, we may

require a Grant of Probate or Grant of Representation issued

by the authorities in Jersey before releasing any monies in

your account to your personal representatives.

11. HSBC Premier and HSBC Advance

11.1 General

11.1.1 HSBC Premier and HSBC Advance offer a range of

services. HSBC Premier Service also offers preferential

rates and prices.

11.1.2 For the purposes of this clause 11, when we refer

to accounts held with “us”, we mean any account that

would contribute towards your relationship balance (see

clause 11.2.3 below).

11.1.3 Separate terms and conditions may apply to some

or all of the benefits of the HSBC Premier and HSBC

Advance services. We will tell you which benefits

are available and will provide you with any terms and

conditions that apply to those benefits when you

enquire about or apply for HSBC Premier or HSBC

Advance. We may later change these benefits and any

applicable terms in accordance with clauses 7 and 8

in Section 1.

11.1.4 We may, at our complete discretion, decide to waive

any applicable fee we charge for HSBC Premier or

HSBC Advance. However, if we do so, we may start

charging you the applicable fee again in the future.

11.1.5 You have the right to cancel HSBC Premier for a

period ending 14 calendar days after you first become

eligible for it, with a full refund of any fees taken. This

cancellation period does not apply if you change from

one service to another. For applications completed by

telephone, the cancellation period will start from the day

that you receive the terms and conditions in the post.

11.2 Eligibility criteria

11.2.1 The service you are eligible for depends on your

relationship balance with us. Please see our Tariff of

Charges for the minimum relationship balance eligibility

criteria for each service.

11.2.2 We may change the minimum relationship balance

levels for each service by giving you 30 days’ advance

personal notice (personal notice will be given in

accordance with clauses 5 to 8 in Section 1 of

these Terms).

11.2.3 The relationship balance is the total average credit

balance, calculated every calendar month, of all HSBC

Expat accounts and accounts that you hold with HSBC

Fund Administration (Jersey) Limited or HSBC Funds

Nominee (Jersey) Limited in the same name(s).

11.2.4 The way we assess the relationship balance depends

on whether it is for joint accounts or sole accounts:

• Sole account relationship balance: we will combine

the balances of all sole accounts held in the same

name and all joint accounts which have that name

as a joint account holder;

• Joint account relationship balance: we will combine

the balances of all joint accounts that are held in

exactly the same names. We will not include sole

accounts, or any joint accounts that are not held

in exactly the same names, when assessing your

joint account relationship balance. This means that

if you have both joint accounts and sole accounts

with us, you may be eligible for a different service

for your sole accounts compared with your joint

accounts. This will affect the fees that you pay and

the services and benefits that are available to you.

11.2.5 Examples of how relationship balances are calculated

for sole, joint and multiple relationships with us where a

customer has only one relationship balance with us, for

example because (s)he has only a sole account, or has

only a joint account.

Example 1 – Mr and Mrs Stewart have a joint savings

account with us, which benefit from the HSBC Premier

Service. Neither of them have any other accounts with

us. In January, their joint account relationship balance is

GBP64,000, and so the HSBC Premier qualifying criteria is

met. They will not have any fees for that calendar month.

Example 2 – Mr Smith has a sole bank account with us,

which benefits from the HSBC Premier Service. He has

no other accounts with us. In September, his sole account

relationship balance is GBP44,052, and so the HSBC

Premier qualifying criteria is not met. We will deduct an

underfunding fee of GBP35 from Mr Smith’s bank account

for that calendar month. Mr Smith should ensure that he

brings his relationship balance above GBP60,000

for October.

Example 3 – Mr and Mrs Johnson have a joint bank

account, which benefits from the HSBC Advance Service.

Neither of them have any other accounts with us. In June,

their joint account relationship balance for the month is

GBP8,092 and because their relationship balance is under

GBP25,000, a underfunding fee of GBP15 will be deducted

from their bank account. They should ensure that they bring

their relationship balance up above GBP25,000 for July.

Example 4 – Mr Green has a sole savings account and a

joint current account with Mrs Green. The sole account

benefits form the HSBC Premier Service and the joint

account benefits form the HSBC Advance Service.

Neither of them have any other account with us. In May,

Mr Green’s sole account relationship balance for the calendar

month is GBP65, 000 (GBP20,000 for the joint account plus

GBP45,000 for the sole account). No fee will be applied that

month to the sole account. Mr and Mrs Green’s joint account

relationship balance for the month is GBP20,000 (the money

in the joint account only is used in calculating this relationship

balance). Because their joint account relationship balance

is under GBP25,000, a underfunding fee of GBP15 will be

deducted from the bank account. Mr and Mrs Green should

ensure they bring their joint account relationship balance up

above GBP25,000 for June.

11.3 Opening an account with us

11.3.1 When you first take out a sole account with us, we

will assess your relationship balance and which service

it is eligible for.

11.3.2 When you open a joint account with us, which

is held in names that are not the same as any other

account held with us, we will assess the joint account

relationship balance for that account and which service

it is eligible for.

11.3.3 If you subsequently add more money to your

account(s), or open other account(s) that contribute

towards your relationship balance, and your relationship

balance increases above the minimum relationship

balance for another service, you can ask us to upgrade

to that other service.

11.3.4 Please see clause 11.4 below for details of what will

happen if you fail to meet the minimum relationship

balance for your service.

11.4 Failure to meet the eligibility criteria

11.4.1 After you first become eligible for a service, we

will review and assess your relationship balance three

full calendar months after opening and each calendar

month after that. If when we review and assess your

relationship balance you fail to meet the qualification

criteria for the service you receive, we will charge

an underfunding fee (if any). Please see the Tariff of

Charges for details of the underfunding fees.

11.4.2 The underfunding fee will be deducted from your

bank account on the 5th day of the second calendar

month following the month for which the fee is payable.

You will be notified of this in advance.

Example – Mr Smith benefits from the HSBC Premier

Service. In January, Mr Smith’s total relationship

balance for the calendar month is below GBP60,000.

Mr Smith will be notified about this in February and an

underfunding fee of GBP35 will be deducted from his

account on 5 March.

11.4.3 If you have HSBC Premier and you fail to meet the

qualification criteria for three consecutive calendar

months, we may, at our complete discretion, convert

you to our HSBC Advance service. We will give you

30 days’ advance personal notice before we do this.

Alternatively, we may give you 30 days notice that we

will be closing your account.

11.5 Payment of fees

11.5.1 You authorise us to deduct fees payable for your

sole account relationship balance from your sole bank

account with us, if you have one. If you do not have

such an account with us, you authorise us to deduct

the fee(s) from another sole account you have with us.

11.5.2 You authorise us to deduct fees payable for your

joint account relationship balance from the joint bank

account held with us in the names of the joint account

relationship balance, if you have one. If there is no such

account with us, you authorise us to deduct the fee(s)

from another joint account held with us in those names.

11.6 Bank Account

11.6.1 You will be eligible to open a bank account with any

service. However, if you have HSBC Premier you will

be eligible for the HSBC Premier benefits on your bank

account and, if you have HSBC Advance, you will be

eligible for the HSBC Advance benefits on your

bank account.

Section 3

Product Conditions

These terms and conditions are Additional Conditions and apply

in addition to the rest of the terms in the Banking Terms of

Business. If there is a conflict, then these terms will apply.

1. Online Bonus Saver Account

1.1 You must also be registered for our Online Banking Service

to apply for an Online Bonus Saver Account and you can

only apply for an Online Bonus Saver account by using our

Online Banking Service.

1.2. You cannot open an Online Bonus Saver Account on behalf

of someone else. Your Online Bonus Saver Account will be

opened in the same name(s) as the account from which you

are making the initial transfer of funds.

1.3. You can have an Online Bonus Saver Account in sterling,

US dollars or euros.

1.4. A minimum deposit of GBP5,000, USD5,000 or EUR5,000

is required to open an Online Bonus Saver Account.

1.5. You must keep a minimum balance in your Online Bonus

Saver account of GBP5,000, USD5,000 or EUR5,000

(“Minimum Balance Requirement”) as appropriate. You

will not receive interest on the funds in your Online Bonus

Saver Account if the balance falls below the Minimum

Balance Requirement.

1.6. Your Online Bonus Saver Account must be operated online

through our Online Banking Service. You will be able to

access your balance and account information online.

For details of making payments into and out of your

Online Bonus Saver Account, please see clauses 1.10

and 1.11 below.

1.7. We may send you any communication relating to your

Online Bonus Saver Account including, but not limited

to, variations to the terms and conditions or interest rate

applicable to it, by Secure Message via the Online

Banking Service.

1.8. Historical and current statement information will be

available to view online. Your Online Bonus Saver Account

will also be included on your monthly statement that shows

all the payments to and from your accounts held with us.

1.9. When we provide you with details of the balance on your

Online Bonus Saver Account, it may include transactions

that are still in the process of being cleared and so may

be subject to change. We may also provide you with the

available balance on your Online Bonus Saver Account.

This represents funds that you are able to draw.

1.10. An initial deposit must be made using our Online Banking

Service to transfer monies from a current or savings

account you have with us. You may not make payments into

your Online Bonus Saver Account by cheque or in cash.

1.11. You can make a payment from your Online Bonus Saver

Account to another current or savings account you hold

with us via our Online Banking Service, provided you have

cleared funds in your account to cover the payment.

1.12. In addition, a limited payment facility is available within our

Online banking Service to enable payments to the accounts

of third parties or accounts you hold with other financial

institutions. Maximum payment limits apply (refer to the

“Online Banking FAQs” or the “Help” pages within our

Online Banking Service for details).

1.13. If you make any withdrawal from your Online Bonus Saver

Account, no bonus interest will be payable on the whole

balance for the calendar month in which the withdrawal

was made. Please see clause 1.16 below for further

details. Transfers to other HSBC accounts are classed as

a withdrawal from your Online Bonus Savings Account.

1.14. You cannot set up Direct Debits, standing orders or

standing instructions to make payments from your Online

Bonus Saver Account.

1.15. You will receive interest when you have a cleared credit

balance of GBP5,000, USD5,000 or EUR5,000 or more in

your Online Bonus Saver Account:

1.15.1. at our standard Online Bonus Saver Account rate; and

1.15.2. at our bonus rate for every calendar month during

which you have not made a withdrawal from your

Online Bonus Saver Account or closed your Online

Bonus Saver Account.

1.16. We calculate interest on the daily cleared balance on your

Online Bonus Saver Account and pay it each month into

your Online Bonus Saver Account (or such other account

with us as you request) on the first working day of

each month.

1.17. Interest at the standard Online Bonus Saver Account rate

will be paid for the period beginning with the first working

day of the previous month (or the date of account opening

in the first month) until the day before the interest

payment date.

1.18. Interest at the bonus rate will be paid for the previous

calendar month unless during that period you have

made a withdrawal from or closed your Online Bonus

Saver Account.

1.19. If you transfer your interest out of your Online Bonus

Saver Account this will be classed as a withdrawal. Please

send us a Secure Message through our Online Banking

Service if you wish for your interest to be paid into another

HSBC account each month.

1.20. You may close your Online Bonus Saver Account at any

time. You must tell us by sending us a Secure Message

through our Online Banking Service or in writing.

1.21. We may withdraw the Online Bonus Saver Account from

sale at any time. This will not affect existing customers who

already hold an Online Bonus Saver Account.

1.22. All charges that apply to the Online Bonus Saver Account

are covered in the Tariff of Charges applicable to it.

1.23. If any Additional Conditions contradict these Online Bonus

Saver Terms, then the Additional Conditions will apply.

1.24. These Online Bonus Saver Account terms need to be read

in conjunction with the Terms.

2. Fixed Rate Saver Account and Fixed Term Deposit

Account (FTDA)

2.1 You can only make one deposit of money (Deposit) into your

Fixed Rate Saver Account/FTDA. A fixed term (Term) as

chosen by you when you applied for the Fixed Rate Saver

Account and FTDA will apply to your Deposit.

2.2. You cannot make additions to your initial Deposit.

2.3. The interest rate you will receive is fixed for the Term and

we will calculate interest daily on the cleared balance of

your Fixed Rate Saver Account and FTDA.

2.4. You can provide instructions to us relating to your account

by post, telephone or via our Online Banking Service.

2.5. You can withdraw the entire balance of your account

before the end of the Term and close your Fixed Rate Saver

Account and FTDA, but we will charge you a fixed fee of

GBP50 (or currency equivalent). You may also be charged

a further fee reflecting any extra cost we incur in funding

the repayment. This will depend on the amount of money

in your account, the amount of time to the end of the

Term and current market rates. If you wish to give us an

instruction to add to or make a withdrawal from a FTDA you

will need to give us your instruction by 12 midday UK time

on the day of maturity.

2.6. For Currency FTDA this will need to be received by 12

midday 2 business days prior to the date of maturity at

the latest.

2.7. Partial withdrawals are not allowed during the Term.

2.8. We will provide you with a statement at the start and end

of the Term for your Fixed Rate Saver Account and FTDA.

2.9. We may change any of these Fixed Rate Saver accounts

and FTDA terms, in accordance with clauses 5 to 8 in

Section 1.

We will tell you about changes by notice on our website

www.expat.hsbc.com, through our Online Banking Service

through our Telephone Banking Service or personally, which

includes telling you by post, statement message, email or

Secure Message.

2.10. We may change our charges and will give you 30 days’

notice if we increase our charges or introduce a new charge

in accordance with clauses 5 to 8 in Section 1 (any change

will not affect any existing Fixed Rate Saver Accounts

you have).

2.11. The following terms only apply to Fixed Rate Saver

Account. Fixed Rate Saver Account is only available in

sterling or US dollar. The minimum deposit is GBP25,000

or USD25,000 as applicable; the maximum is usually

GBP500,000 or USD500,000, although we may agree

to accept deposits in excess of this figure.

2.12. You can open one Fixed Rate Saver Account for each

Term we offer, in each currency we offer.

2.13. You must have and keep open a Bank Account or Saver

Account with us (in the same name and currency as your

Fixed Rate Saver Account) for the duration of your Fixed

Rate Saver.

2.14. We will pay you interest at the end of the Term.

2.15. At the end of the Term, and at any other time when

you withdraw the entire balance of your Fixed Rate Saver

Account, your Deposit plus interest will be paid into your

Bank Account or Saver Account held with us (in the same

name and currency as your Fixed Rate Saver Account),

which you must nominate on the application form when

applying for the Fixed Rate Saver Account.

2.16. We may withdraw the availability of Fixed Rate Saver

Accounts at any time without giving notice. Fixed Rate

Saver Account(s) already opened will be unaffected.

2.17. If you are a sole account holder and you die, your deposit

will be repaid at the end of the Term to your personal

representative(s) in accordance with clause 10.8 in Section

2 of these terms. If the deposit is made in joint names, we

only make repayment to the surviving depositor(s) or the

personal representative(s) of the last survivor.

2.18. You must make new-to-bank deposits into a Fixed Rate

Saver Account. However, exceptionally, we may agree to

accept money already deposited with us into a Fixed Rate

Saver Account.

2.19. The following terms only apply to FTDAs.

2.20. FTDAs are available in sterling, US dollar, euro, Australian

dollar, Canadian dollar, Hong Kong dollar, Swiss francs and

Japanese yen. Other currencies may be available upon

request. Minimum deposit amounts apply of GBP5,000 or

USD10,000. For all other currencies, please telephone us

or look on our website.

2.21. We will pay you interest at the end of the Term, except

where the Term is longer than one year, when we will pay

interest on the anniversary of the FTDA being opened.

Interest will be added to your FTDA, unless we have

received instructions from you to pay it to a different

account.

If the Term is longer than one year, the Interest will need to

be paid into a different account. Interest cannot be paid into

another FTDA.

2.22. Unless you give us instructions to the contrary, at the

end of the Term your deposit plus interest will automatically

rollover into a new fixed term. The new fixed term will be of

identical length to the Term. The interest rate that will apply

will be our prevailing fixed rate on the day your deposit plus

interest rolls over. We will send you confirmation of the

rollover. These FTDA terms will continue to apply to your

new FTDA and the new fixed term will become the Term

for the purposes of these FTDA terms.

2.23. If you want to have your deposit and interest paid into a

separate account at the end of the Term, you must advise

us at least two working days before the end of the Term.

3. Renminbi Currency Savings Account and Fixed Term

Deposit Account (FTDA)

3.1 Your renminbi Currency Savings account (“renminbi CSA”)

or renminbi Fixed Term Deposit Account (“renminbi FTDA”)

will be held in the “Offshore currency CNY”. The renminbi

is the official currency of the People’s Republic of China.

There are two markets for renminbi which are called

“Onshore” and “Offshore”. The Onshore currency can be

remitted into mainland China and Macau whilst the offshore

currency is held offshore and cannot be remitted in to

mainland China and Macau.

3.2 Making payments or transfers from a renminbi CSA or a

renminbi FTDA into mainland China and Macau is

not permitted.

3.3 You can make payments from a renminbi CSA or a renminbi

FTDA using:

• the Global Transfers facility in our Online Banking

Service; or our Telephone Banking Service; or

• by written instruction

3.4 Deposits into a renminbi CSA or FTDA from either another

HSBC account or an account at another bank, shall be by

way of inward electronic payment only and no cash or

cheque deposits are permitted.

3.5 Withdrawals from your renminbi account shall be by way of

outward electronic payment only and no cash withdrawals

are permitted.

3.6 HSBC Expat does not have a set limit for the value of

overseas electronic payments of renminbi. You must

confirm with the receiving bank directly if they apply

specific limits to incoming payments in Offshore renminbi.

3.7 The Bank reserves the right to reject or refuse any or part

of any inward payment or outward payment, or reverse

any or part of any inward payment, outward payment or

transaction if:

3.7.1 The Bank is of the view that such inward payment,

outward payment or transaction is in violation of any

applicable rules, or the renminbi Terms or the Banking

Terms of Business; or

3.7.2 a correspondent bank or the beneficiary bank should

at any time reject or return such outward payment, on

any ground (whether or not disputed); and

3.7.3 you shall be responsible for all losses, costs, expenses

and charges incurred or suffered by you arising as a

result thereof. We will not be liable for these.

Foreign exchange transactions in renminbi currency.

Exchange rates and interest rates quoted by

HSBC Expat are based on renminbi CNY Offshore

market pricing.

You should be aware of the potential risks of banking in

a currency that is not your usual currency.

Fluctuations in exchange rates may also impact

adversely when converting currencies to and from

renminbi. For example, due to foreign exchange

fluctuations, the actual sterling equivalent of a renminbi

deposit could be smaller than the original amount

deposited in sterling (i.e. there is a risk of loss of

principal on a sterling basis). Please also remember that

past performance of a currency is not necessarily an

indication of its future performance.

4. HSBC InvestDirect International Account (IDIA)

The full terms and conditions can be found on our website.

This Section applies to customers who are using IDIA

provided by HSBC Bank plc and have an HSBC IDIA which

is funded from an account they have with us. These Terms

apply in addition to the IDIA Sharedealing and Investment

Terms and Conditions and the rest of these Banking Terms

of Business.

4.1 The settlement account of your IDIA with HSBC Bank

plc will be funded from an account you have with us at

the close of each business day as set out in clause 7.3

in Section 3 of the IDIA Terms and Conditions. It is your

responsibility to ensure there are sufficient funds in your

account with us to cover any daily debit balance on the

settlement account of your IDIA or, alternatively, agree

a suitable overdraft facility with us to cover this. If your

account goes overdrawn without an agreed overdraft or

goes over any agreed overdraft limit as a result of you

trading in investments through your IDIA, you agree that

we may, upon at least seven days’ notice in writing to you

(which can be by post or by email), request HSBC Bank plc

to arrange the sale of sufficient investments in your IDIA to

cover the unauthorised position on your account unless this

is brought back into an authorised position within the time

limit in the notice. You agree that we can tell HSBC Bank

plc to pass the sale proceeds of your investments to us

as set out in clause 2.2 in Section 3 of the IDIA Terms

and Conditions.

If such sale proceeds exceed the amount of the

unauthorised position on your account, your account will

be credited with the surplus amount. If there is a shortfall,

you will remain liable for this. We will not be responsible

for any loss or reduction in the price of your investments as

a result of them being sold by HSBC Bank plc. The notice

referred to above will be sufficiently given to you if posted

to your principal residential or correspondence address, or

sent by fax or other electronic means to your last known

fax number or electronic mail address. If sent by post, the

notice is deemed served at noon the seventh day following

the day it was posted.

If sent by fax or other electronic means, any demand or

notice shall be deemed to have been made or given at the

time of transmission.

4.2. You agree that we may exchange information about you

and/or your account(s), for any reason, with HSBC Bank

plc and/or their agents. Please see clause 4 in Section

1 of these Terms for other ways in which we deal with

information about you.

4.3 If we close your account with us, we will automatically

close your IDIA if it is empty. We will give you 30 days’

notice of this.

General Information

Issued by HSBC Expat, a trading name of HSBC Bank

International Limited, HSBC House, Esplanade, St Helier,

Jersey JE1 1HS. HSBC Bank International Limited, incorporated

in Jersey, is regulated by the Jersey Financial Services

Commission for Banking, General Insurance Mediation,

Investment and Fund Services Businesses.

HSBC Bank International Limited Hong Kong Branch is licensed

by the Hong Kong Monetary Authority as an authorized

institution in Hong Kong and registered with the Securities and

Futures Commission to conduct Type 1 (dealing in securities)

and Type 4 (advising on securities) regulated activities under

the Securities and Futures Ordinance (central entity number

assigned by the Securities and Futures Commission: AGH398).

This material is distributed by HSBC Bank International Limited

Representative Office Dubai, regulated by the Central Bank

of the United Arab Emirates. Deposits made with our office

in Jersey are not protected by the rules made under the UK’s

Financial Services and Markets Act 2000 for the protection of

retail clients, including the UK Financial Services Compensation

Scheme and the UK’s Financial Ombudsman Service. Deposits

made with our office in Jersey are not protected deposits

under the Hong Kong Deposit Protection Scheme and are not

protected by such scheme. However, HSBC Bank International

Limited is a participant in the Jersey Bank Depositors

Compensation Scheme. The Scheme offers protection for

eligible deposits of up to £50,000. The maximum total amount

of compensation is capped at £100,000,000 in any five year

period. Full details of the Scheme and banking groups covered

are available on the States of Jersey website www.gov.je/dcs,

or on request. Copies of our latest audited accounts are

available upon request from HSBC Bank International Limited,

HSBC House, Esplanade, St Helier, Jersey JE1 1HS.

Complaints

We are committed to providing you with a first-class service and

effectively delivering the products and services you need. Even

with the best of intentions, we know things can go wrong. So,

if for any reason you are not entirely satisfied with any aspect

of our service, please let us know as soon as possible. We’ll

investigate the situation and where necessary, set about putting

things right as quickly as possible. We may also take steps to

avoid similar problems happening in the future.

Your views are important to us and your feedback is key to

improving the products and services we offer.

Telephone our Customer Care Team

+44 1534 616028

Our Customer Care Team is open Monday to Friday, 8am - 5pm

(UK time).

Outside of these hours, our 24/7 Contact Centre is here to

assist you.

To help us continually improve our service, and in the interest

of security, we may monitor and/or record your communication

with us.

Online

If you’re an existing customer and use our Online Banking

Service, you can use the Contact Centre to send us a Secure

Message once you have logged on.

Alternatively, you can email us at:

expat.customer.relations@hsbc.com

Post

Write to us at the following address:

Customer Care Team

HSBC Expat

HSBC House

Esplanade

St Helier

Jersey

JE1 1HS

Channel Islands.

Our complaints process

What happens when you first complain?

We will always try to resolve your concerns there and then.

If this is not possible, we will fully investigate all the issues

you have raised by speaking with you or writing to you. We

will acknowledge your complaint within 48 hours and, in

most cases, resolve your concerns when we contact you.

Occasionally, however, it may be necessary to investigate

your complaint further, but we aim to resolve your complaint

within 5 working days for general banking related complaints

and within one month for investment related complaints. If this

is not possible, you will be advised either by telephone or in

writing. We hope that you will not need to progress beyond this

first step, as we are confident that we can resolve any concerns

you raise with us to your satisfaction.

What can you do if you’re not satisfied with the response

to your complaint?

Clearly, we always want to be able to resolve your concerns.

If you consider that our response to your complaint still does

not fully address your issues, please let us know so we can

understand if there is anything more we can do.

However, where you are not satisfied with our final response

to your complaint, you can refer your concerns to the Channel

Islands Financial Ombudsman (CIFO). If you want to contact

the CIFO about your complaint, you will need to do this within

six months from the date of our final response or they may not

be able to review your complaint.

In addition, you must also contact CIFO within 6 years of the

event complained about or, if later, 2 years of when you could

reasonably have been expected to become aware that you had

a reason to complain.

You can contact the CIFO at:

Channel Islands Financial Ombudsman (CIFO)

P O Box 114

Jersey,

Channel Islands

JE4 9QG

Website: www.ci-fo.org

Email: enquiries@ci-fo.org

Jersey local phone: 01534 748610

For concerns relating to our Hong Kong office, you also have

the right to refer the matter to the Complaint Processing Centre

of the Hong Kong Monetary Authority at 55/F, Two International

Finance Centre, 8 Finance Street, Central, Hong Kong.

For monetary disputes, you have the right to refer the matter to

the Financial Dispute Resolution Centre (FDRC) at Unit 3701-4.

37/F, Sunlight Tower, 248 Queen’s Road East, Wan Chai, Hong

Kong. In order to be eligible for resolution of disputes under the

Financial Dispute Resolution Scheme administered by FDRC, a

written complaint must be filed with us and a final written reply

in respect of the complaint has been issued or no final written

reply has been issued within 60 days. Also, the dispute must

be of a monetary nature not exceeding HK$500,000 (including

any interest on any amount alleged to be a loss) or the foreign

currency equivalent.

Data provided to Hong Kong branch

Where personal data is being or has been collected by our

Hong Kong branch, in addition to clause 4 of Section 1 of these

terms which explains how we will use Customer Information

you will be given the Notice relating to the Personal Data

(Privacy) Ordinance that applies to you and other individuals (the

“Notice”) also contains important information about how we

and the HSBC Group will use such information and you should

read clause 4 of Section 1 in conjunction with the Notice. You

agree to the Notice and further agree that the “Purposes”

as defined in clause 4 of Section 1 and the persons to whom

Customer Information will be disclosed shall be extended to

include the purposes and persons set out in the Notice. You

must ensure that every Connected Person whose information

has been or will be collected by us in Hong Kong has been

notified of and agreed to the Notice (as may be amended or

supplemented by us from time to time).