Within 45 days of your account opening you need to: switch to us using the Current Account Switch Service (including at least 2 Direct Debits or standing orders), deposit £1,000, make 5+ debit card payments, and log on to digital banking. New customers only. T&Cs apply.
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Independent service quality survey results
Published February 2025
As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,000 customers of each of the 17 largest personal current account providers if they would recommend their provider to friends and family. The results represent the view of customers who took part in the survey.
The requirement to publish the Financial Conduct Authority Service Quality Information for personal current accounts can be found on the SQI page.
Authorised push payment (APP) scams rankings in 2023
Authorised push payment (APP) scams happen when someone is tricked into transferring money to a fraudster’s bank account.
These charts use data given to the Payment Systems Regulator by major banking groups in the UK in 2023.
You can read the full report by visiting www.psr.org.uk/app-fraud-data Opens an overlay [Will show a security message first]
Share of APP scams refunded
This is the proportion of total APP fraud losses that were reimbursed, ranked out of 14 firms.
APP scams sent per £million transactions
This is the amount of money sent from the victim’s account to the scammer, ranked out of 14 firms. For example, for every £1 million of HSBC UK and first direct transactions sent in 2023, £159 was lost to APP scams.
APP scams received per £million transactions: smaller UK banks and payment firms
This is the amount of money received into the scammer’s account from the victim, ranked out of all UK banks and payment firms. For example, for every £1 million received into consumer accounts at Skrill, £18,550 of it was APP scams.
APP scams received per £million transactions: major UK banks and building societies
This is the amount of money received into the scammer’s account from the victim, ranked out of all UK banks and payment firms. For example, for every £1 million received into consumer accounts at HSBC UK and first direct, £128 of it was APP scams.
Your eligible deposits with HSBC UK Bank plc are protected up to a total of £85,000 or up to £170,000 for joint accounts, by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme.
This limit is applied to the total of any deposits you have with the following: HSBC UK Bank plc and first direct. Any total deposits you hold above the limit between these brands are unlikely to be covered.
