Bank Accounts in the UAE
T&C Apply
Open bank account instantly with zero maintenance fees
HSBC bank was established in the year 1885 under the name “Imperial Bank of Persia”. It was a British Bank. However, after the 1979 Iranian revolution, the Bank is known as HSBC Bank Middle East Limited.
HSBC Bank offers 7 different types of account in the UAE. These accounts are HSBC Premier Account, HSBC Advance Account, HSBC Personal Banking Account, HSBC Flexi Account, HSBC Savings account, HSBC Term Deposit Account, and the HSBC E-Saver Account.
The documents requirement remains the same for most HSBC Account. Although, the HSBC Accounts in the UAE come with different sets of features and benefits.
To open an Account with the HSBC Bank in the UAE, the applicants can apply via the ways given below:
The features and benefits of the HSBC Account are given below according to the type of Accounts:
TYPES OF HSBC ACCOUNT | FEATURES AND BENEFITS |
---|---|
HSBC Premier Account |
|
HSBC Advance Account |
|
HSBC Personal Banking Account |
|
HSBC Flexi Account |
|
HSBC Savings Account |
|
HSBC Term Deposit Account |
|
HSBC E-Saver Account (non-HSBC Account holders) |
|
The eligibility criteria needed to open accounts in the HSBC bank account opening online are given below according to the type of accounts:
The documents required to open specific HSBC Account in UAE are as follows:
TYPE OF HSBC ACCOUNT | DOCUMENTS REQUIRED FOR THE SOLE ACCOUNT | DOCUMENTS REQUIRED FOR THE JOINT ACCOUNT |
---|---|---|
HSBC Premier Account |
|
|
HSBC Advance Account |
|
|
HSBC Personal Banking Account |
|
|
HSBC Flexi Account |
|
|
HSBC Savings Account |
|
|
HSBC Term Deposit Account |
|
|
HSBC E-Saver Account (non-HSBC Account holders) |
|
|
Q1: What are the documents I need to open an HSBC E-Saver account when I have an account with the bank?
Ans: Since you already have an account with the HSBC Bank, you will need no documents to open an E-Saver Account.
Q2: What is the minimum balance I need to maintain with the personal Banking?
Ans: For personal banking, you will have to maintain a minimum of AED 3000.
Q3: What is the fee for closing an account within a year of opening it?
Ans: If you close an account within a year of opening it, you will be charged AED 100.
Q4: What is the fee for setting up Standing Instructions?
Ans: For setting up a Standing Instruction, you will be charged AED 52.5 which includes the VAT.
Q5: Is there any charge if my HSBC Savings Accountlies dormant?
Ans: No, there is no charge for dormant HSBC Savings Account.
Q6: What is the charge for failing to maintain the monthly balance requirements in HSBC Savings Account?
Ans: You will be charged AED 25 if you fail to maintain the requirements for the monthly balance. Including the VAT, the total charge will be AED 26.25.
Q7: What are the ways to set up an account?
Ans: You can set up an account by calling the customer support team or through the website.
Q8: What can I present as proof for the Residency proof?
Ans: You can provide your utility bill, employment letter or the Lease contract for the proof of being a resident of the UAE.
Q9: What is the percentage of Cashback with the HSBC VISA Platinum Cashback Credit Card?
Ans: With the HSBC VISA Platinum Cashback Credit card, you can earn up to 10% of your purchase in cashback.
Q10: What does FATCA stand for? Does HSBC Bank comply with it?
Ans: FATCA stands for Foreign Account Tax Compliance Act. Yes, HSBC Bank complies with FATCA.