HSBC Advance Account in UAE

By Ruchi Gohri
  | Published: 09 November 2021

Average Rating / 5 (ratings ) | 326 Views
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HSBC bank was established in the UAE in 1946. The bank offers banking products and services for both individual and business clients. HSBC Bank serves more than 40 million customers in over 64 countries, including Africa, Asia, North America, Europe, Latin America and the Middle East region.

HSBC offers different types of bank accounts such as current accounts, savings accounts, fixed deposits, investment accounts and more for the customers. HSBC Advance Account is one of the bank accounts that the bank offers for convenient banking. It comes with various attractive benefits and features to help account holders make the best use of their funds. Let us go ahead and learn more about the HSBC Advance Account in detail.

Features and Benefits of HSBC Advance Account

Here are the major benefits and features of the HSBC Advance Account.

1. Minimum Monthly Balance

HSBC Advance Account comes with a minimum balance requirement of AED 100,000. The account holders need to meet this requirement to earn interest on their savings.

2. International Fund Transfers

HSBC Advance Account enables account holders to make instant and free international fund transfers in just a few clicks.

3. Unlimited ATM Withdrawals

HSBC Advance Account comes with an exclusive benefit of unlimited ATM cash withdrawals for the account holders. The account holders need not pay any additional charges for withdrawing money from any other bank ATM as well.

4. Better Personal Loan Interest Rates

HSBC Advance Account holders can apply for a personal loan at better interest rates in comparison to other account holders and new borrowers.

5. International HSBC Account

HSBC Advance Account members can get a 50 per cent discount on the processing fee for opening an International HSBC Bank Account.

6. Available in Multiple Currencies

HSBC Advance Account can be opened and operated in multiple currencies, including AED, GBP, USD and EUR.

7. Overdraft Facility

HSBC Advance Account offers an overdraft facility for the account holders. With this facility, the HSBC Advance Account holders can get a fee-free overdraft amount of up to AED 50,000 or one salary multiple (whichever is less). The best part is that the first AED 2,000 can be availed interest-free.

8. Global Emergency Cash

HSBC Advance Account holders can get emergency cash of up to USD 10,000 in case they lose their wallets or are in need of urgent cash while travelling in a foreign country.

Reasons to Choose HSBC Advance Account

HSBC Advance Account offers attractive banking products and services for its customers and helps them manage their finances in an efficient way. Here are a few more reasons why you must opt for opening an HSBC Advance Account.

1. Full-time Assistance

HSBC Advance Account offers a full-time available helpline for the account holders. The bank’s customers can call this helpline anytime to look for answers to their queries.

2. Online Banking Services

HSBC Advance Account enables account holders to access and manage their finances online using internet banking services in just a few clicks. The account holders can log in to the HSBC online banking portal using their unique banking ID and password. They can make quick transactions and easy bill payments using this online portal.

3. Mobile Banking Services

HSBC Advance Account offers a useful banking mobile app for account holders. The HSBC bank account holders can register themselves on the mobile app by providing their basic details such as bank account number, name and more. Once done, they can then avail all the banking products and services right at their fingertips.

4. Exciting Offers and Privileges

HSBC Advance Account enables account holders to use their Advance Account debit card to shop at various online and offline retail stores anywhere in the world. The debit card offers hundreds of attractive deals and discounts on dining, entertainment, shopping, travel and more.

5. Easy Application Process

HSBC Advance Account offers a simple online account opening process for the applicants. The existing HSBC customers can simply log in to their online banking portal to apply for a bank account. On the other hand, the new applicants can visit the bank’s website and fill out the online application form to apply for an HSBC Advance Account.

Eligibility Criteria to Apply for HSBC Advance Account

Here are the eligibility criteria to apply for an HSBC Advance Account.

  • All UAE residents and visitors with a valid residency visa are eligible to open an HSBC Advance Account.
  • The applicants must meet the minimum monthly income requirement of AED 15,000 to open an HSBC Advance Account.
  • The applicant must be 18 years old or above. The child applicants with a guardian can also apply for an HSBC Advance Account.

Documents Required When Applying for HSBC Advance Account

Here are the documents required for opening an HSBC Advance Account.

Types of Applicants Documents Required
UAE Nationals
  • Application Form
  • Emirates ID – Original and a Copy
  • Passport – Original and a Copy
  • A valid Residency Visa – Original and a Copy
  • Work ID Proof or Labour Card – Original and a Copy
  • Utility Bills, Rental Agreement, Employment Letter (for address verification) – of last three months
  • Salary Certificate / Salary Slips (for income verification) – Original and a Copy
  • Trade License (for self-employed applicants) – Original and a Copy
GCC Nationals with UAE Residency
  • Application Form
  • Passport – Original and a Copy
  • A valid Residency Visa – Original and a Copy
  • Work ID Proof or Labour Card – Original and a Copy
  • Utility Bills, Rental Agreement, Employment Letter (for address verification) – of last three months
  • Salary Certificate / Salary Slips (for income verification) – Original and a Copy
  • Trade License (for self-employed applicants) – Original and a Copy
Other Expats with UAE Residency
  • Application Form
  • Passport – Original and a Copy
  • A valid Residency Visa – Original and a Copy
  • Work ID Proof or Labour Card – Original and a Copy
  • Utility Bills, Rental Agreement, Employment Letter (for address verification) – of last three months
  • Salary Certificate/ Salary Slips (for income verification) – Original and a Copy
  • Trade License (for self-employed applicants) – Original and a Copy

How to Apply for HSBC Advance Account?

Here are the four simple ways to apply for an HSBC Advance Account.

1. Log in to Internet Banking Portal

With HSBC Bank online banking portal, the applicants can apply for the Advance Bank Account in just a few clicks. All they need to do is simply log in to the online portal, go to the requests section and apply for their preferred bank account without any hassle. The applicants need to fill the online application form and submit the same with all the essential documents as stated on the portal.

2. Use Mobile Banking

HSBC Bank offers a mobile banking app to help account holders easily apply for their preferred bank account. The existing HSBC bank customers can download this app from their chosen app store and log in to it using their unique banking credentials. Once logged in, the applicants need to go to the request section and apply for opening the bank account. Here, they can fill in the application form by providing their basic details and submit the same with supporting documents.

3. Visit the Bank’s Website

The applicants can also visit the HSBC Bank’s website and fill the application form to open an HSBC Advance Account. They can either upload the documents on the bank’s website or visit the bank’s branch with the same.

4. Visit the Bank’s Branch

The applicants who do not have access to the online or mobile banking portal can also consider visiting one of the nearest HSBC Bank’s branches. To apply for HSBC Advance Account, they need to fill up the application form at the bank and submit the same with all the necessary documents to complete the application process.

5. Visit Our Website

The applicants can also visit our website to apply for an HSBC Advance Account. The best part is that the applicants can find detailed features and benefits of HSBC bank accounts on the website. Moreover, they can also call our helpline number anytime and speak to our experts to find answers to their questions. Our help representatives assist applicants throughout the application process.

Ruchi Gohri
Ruchi Gohri

Senior Content Writer | She has a penchant for writing and with over 5 years of experience, she plays around with words elegantly, crafting simple content for all to read. In her free time, she loves her couch either to read or catch on to her sleep.