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US citizens in the UK · Institutions

Which HSBC accounts accept US citizens

Last checked

HSBC has been checked for US citizens across 11 account types. 8 are open to a US person (4 with strings) and 3 are not on offer, whatever your nationality.

If you already have an account with HSBC, a second one there is usually the easier application, because HSBC has already checked who you are. Each account below carries its verdict, the evidence behind it and the date it was last updated.

At a glance

Account type Verdict Accounts Updated
Current accounts Accepts US citizens 2
Savings accounts Accepts with conditions 8
Cash ISAs Accepts US citizens 2
Stocks & shares ISAs HSBC InvestDirect Accepts with conditions 2
Brokerage accounts HSBC InvestDirect Accepts with conditions 1
Mortgages HSBC UK Accepts US citizens 2
Credit cards HSBC UK Accepts US citizens 7
Multi-currency accounts HSBC Expat Accepts with conditions 1
Junior cash ISAs Not offered —
Junior stocks & shares ISAs Not offered —
Junior SIPPs Not offered —

Current accounts

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Accepts US citizens
Updated

HSBC's own account-opening guide asks every applicant for their citizenship and tax residence, and anyone who pays tax outside the UK for a taxpayer identification number, warning that without one some services may not be available. The only exclusion it names is living in a sanctioned country, so nothing in it shuts out a US citizen living here, though it stops short of naming one. HSBC Expat serves non-residents but needs £75,000 in savings or investments to qualify, or £10,000 if you are already HSBC Premier.

FSCS £120,000 · app, online or branch

Account Terms The catch
Bank Account
Monthly fee
Free
Interest
None
Abroad
2.75% non-sterling fee; cash abroad costs 2.75% plus a 2% cash fee
 —
Premier Bank Account
Monthly fee
Free
Interest
None
Abroad
2.75% non-sterling fee, but no HSBC cash fee on withdrawals outside the UK
 Needs £100,000 annual income paid in, or £100,000 in savings and investments with HSBC.

Source: HSBC Safeguard, what HSBC asks when you open an account, 2026-09-25; Greenback; VisaWise, 2026-04; HSBC Expat bank account (the £75,000 qualifying balance), 2026-09-11 HSBC's own page

Savings accounts

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Accepts with conditions
Updated

US persons: apply by phone or in a branch, not online, because a US citizen has more than one tax residency

HSBC opens its savers to a US person, but not online: each saver's page says anyone with more than one tax residency, which a US citizen living here has, cannot finish the application in the app or online banking. The Online Bonus Saver is then opened by phone and needs an existing HSBC account; the Flexible Saver and Premier Savings can also be opened in a branch, and the Flexible Saver needs no other HSBC account. The US taxes the interest as ordinary income.

FSCS £120,000 · phone or branch for a US citizen

Account Terms The catch
Regular Saver
Access
Regular saver
Rate
5.00% AER, fixed
Term
1 year
Min
£25 a month
Max
£3,000
Rate as of
 Fixed for 12 months; pay in 25 to £250 a month, no withdrawals; needs an HSBC current account.
Fixed Rate Saver (2 year) (annual interest)
Access
Fixed term
Rate
4.80% AER, fixed
Term
2 years
Min
£2,000
Max
£1,000,000
Rate as of
 Needs an HSBC current or savings account kept for the term, one deposit only, and closing early costs up to 90 days of interest. Interest paid annually at 4.80% AER, into the HSBC account you used for your deposit.
Fixed Rate Saver (2 year) (monthly interest)
Access
Fixed term
Rate
4.80% AER, fixed
Term
2 years
Min
£2,000
Max
£1,000,000
Rate as of
 Interest paid monthly at 4.80% AER, into the HSBC account you used for your deposit. Needs an HSBC current or savings account kept for the term, one deposit only, and closing early costs up to 90 days of interest.
Fixed Rate Saver (1 year) (annual interest)
Access
Fixed term
Rate
4.50% AER, fixed
Term
1 year
Min
£2,000
Max
£1,000,000
Rate as of
 Needs an HSBC current or savings account kept for the term, one deposit only, and closing early costs up to 90 days of interest. Interest paid annually at 4.50% AER, into the HSBC account you used for your deposit.
Fixed Rate Saver (1 year) (monthly interest)
Access
Fixed term
Rate
4.50% AER, fixed
Term
1 year
Min
£2,000
Max
£1,000,000
Rate as of
 Interest paid monthly at 4.50% AER, into the HSBC account you used for your deposit. Needs an HSBC current or savings account kept for the term, one deposit only, and closing early costs up to 90 days of interest.
Online Bonus Saver
Access
Easy access
Rate
3.35% AER, variable
Min
£1
Max
None stated
Rate as of
 Bonus only in a month with no withdrawal, on the first £50,000; otherwise 1.05%.
Premier Savings
Access
Easy access
Rate
1.10% AER, variable
Min
£1
Max
None stated
Rate as of
 HSBC Premier customers only. 1.10% AER below £50,000, 1.15% from £50,000 to £100,000, and 1.65% over £100,000; instant access.
Flexible Saver
Access
Easy access
Rate
1.05% AER, variable
Min
£1
Max
None stated
Rate as of
 None; instant access.

Source: HSBC UK: Online Bonus Saver, Flexible Saver and Premier Savings, 2026-09-25 HSBC's own page

Cash ISAs

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Accepts US citizens
Updated

HSBC states the statutory test word for word: resident in the UK for tax purposes, or a Crown servant serving overseas. Its phone-only route exists for people with no National Insurance number or UK address, which is not a US-specific step. The IRS still taxes the interest as US income, as the wrapper gives no US relief.

FSCS £120,000, shared with First Direct and M&S Bank · online, app, phone or branch

Account Terms The catch
Fixed Rate Cash ISA
Access
Fixed term
Rate
4.00% AER, fixed
Term
1 year
Min
£500
Rate as of
 Deposits within a 30 day window, and any withdrawal closes the account and triggers a fee.
Loyalty Cash ISA
Access
Easy access
Rate
3.00% AER, variable
Min
£1
Rate as of
 Top rate needs an HSBC Premier current account; other HSBC customers get 2.50%.

Source: HSBC cash ISA, 2026-08-17 HSBC's own page

Stocks & shares ISAs

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HSBC InvestDirect

Accepts with conditions
Updated

US persons: the only route to it today refuses US citizens outright

HSBC has closed InvestDirect to new customers: its product page now redirects to the Global Investment Centre, and existing holders of UK shares and ETFs are being moved there automatically, while gilts, bonds and international shares stay on InvestDirect for now. The Global Investment Centre will not take a US person at all, in both its eligibility list and its terms, so there is no route in for a US citizen today. The ISA page itself sets out only age, UK tax residence and an HSBC current account, and says you can start from £50, but the account behind it is the Global Investment Centre, whose terms say HSBC cannot open or keep an account for a US person, naming US citizens and green card holders.

FSCS £85,000 · needs an HSBC current account and online banking

Account Terms The catch
Stocks and shares ISA on the Global Investment Centre
Annual fee
£10.50 a quarter for each account holding shares or ETFs, and 0.25% a year on fund holdings
Dealing fee
£5 an online trade, £29.95 by phone, and nothing to trade funds
Can hold
UK shares, ETFs and investment trusts, plus funds including HSBC's own ready-made portfolios. The funds and UK-listed ETFs are PFICs; the direct shares are not.
Individual shares
Yes
US-domiciled ETFs
No
 From £50. Stamp duty is 0.5% on UK share purchases and the takeover levy £1.50 over £10,000. HSBC will not open or keep this account for a US citizen or green card holder.
InvestDirect stocks and shares ISA (closed to new customers)
Annual fee
£42 a year, charged quarterly
Dealing fee
£10.50 an online UK trade, falling to £7.95 after the ninth in a quarter. US shares $29.95, and only on InvestDirect Plus
Can hold
UK shares, ETFs, investment trusts and gilts, plus US and euro shares through InvestDirect Plus. The ETFs are UK listed, so PFICs; the direct shares are not.
Individual shares
Yes
US-domiciled ETFs
No
 Open only to existing InvestDirect customers. US dealing needs HSBC's W series forms under IRS rules, and HSBC publishes no currency conversion rate.

Source: HSBC stocks and shares ISA page, Global Investment Centre fee schedule and terms effective 23 August 2026, read 2026-09-25 HSBC InvestDirect's own page

Brokerage accounts

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HSBC InvestDirect

Accepts with conditions
Updated

US persons: closed to new customers, and the platform replacing it will not take a US person

HSBC has closed InvestDirect to new customers: its product page now redirects to the Global Investment Centre, and existing holders of UK shares and ETFs are being moved there automatically, while gilts, bonds and international shares stay on InvestDirect for now. The Global Investment Centre will not take a US person at all, in both its eligibility list and its terms, so there is no route in for a US citizen today. What InvestDirect itself publishes carries no US person bar: its US share dealing needs "W series forms A and B" under IRS rules, which is market access rather than a citizenship test.

FSCS £85,000 investment cover · closed to new customers · needs an HSBC UK current account

Account Terms The catch
InvestDirect Plus
Annual fee
£10.50 a quarter for each investment account, so £42 a year
Dealing fee
£10.50 an online UK share or ETF trade, £7.95 after your ninth in a quarter. US shares $29.95 online. Gilts £39.95
Can hold
UK shares, investment trusts, gilts and UK-listed ETFs, plus US shares on the New York Stock Exchange and NASDAQ. Euro and dollar cash accounts are available.
Individual shares
Yes
US-domiciled ETFs
No
 HSBC does not publish an FX charge, converting at its own rate, so the true cost of a dollar trade is not visible before you place it. Stamp duty is 0.5% on UK share purchases and the takeover levy £1 over £10,000.

Source: HSBC InvestDirect rates and fees, 26 November 2021, and the Global Investment Centre pages and terms, read 2026-09-25 HSBC InvestDirect's own page

Mortgages

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HSBC UK

Accepts US citizens
Updated

The only lender on this page with a written US persons policy, and it is worth reading before you assume the worst: it covers marketing preferences, drawing the money into a UK account, and not consolidating US debt. The United States is an approved country for income, so dollar salary counts, with a haircut. Without indefinite leave you need twelve months here or £75,000 income, and stop at 85% loan to value.

Direct or through a broker · settled status, or twelve months here or £75,000 income

Account Terms The catch
2 year tracker
Rate
4.40%, tracker
Then
6.24% variable
Term
2 years
Max LTV
85%
Product fee
£999
Rate as of
 Tracks the base rate, so the payment moves.
5 year fixed
Rate
4.58%, fixed
Then
6.24% variable
Term
5 years
Max LTV
60%
Product fee
£999
Rate as of
 This is the 60% loan to value tier. Foreign nationals without settled status stop at 85%, where the rate is higher.

Source: HSBC intermediary criteria, 2026-08-17 HSBC UK's own page

Credit cards

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HSBC UK

Accepts US citizens
Updated

HSBC asks that you are over 18, resident here and earning £6,800, and says nothing about nationality. It asks for your last three years of addresses, wherever they were. The trap for a new arrival is the credit file: HSBC can read one from abroad through Nova Credit, but only from nine countries, and the US is not among them. Its page for newcomers adds that without an HSBC current account it offers only the Balance Transfer and Purchase Plus cards, at a limit of £1,000 at most, and the Classic card, the one built for a thin credit file, requires a current account too.

Direct · also the lender behind M&S Bank cards

Account Terms The catch
Student Credit Card
Representative APR
18.9% APR representative
Card fee
Free
Abroad
2.99% non-sterling transaction fee (minimum £3 for cash-related payments).
Rate as of
 Needs an HSBC Student Bank Account (a relationship a newcomer enrolled at a UK university can acquire) and to be a UK resident aged 18 or over. Assumed credit limit is lower, £250, reflecting the student market.
Purchase Plus Credit Card
Representative APR
24.9% APR representative
Card fee
Free
Abroad
2.99% non-sterling transaction fee (minimum £3 for cash-related payments).
Rate as of
 0% on purchases for up to 24 months and on balance transfers for up to 17 months if done in the first 60 days (3.49% fee, minimum £5). Needs income or pension of at least £6,800 and you cannot hold an HSBC Basic Bank Account.
Balance Transfer Credit Card
Representative APR
25.9% APR representative
Card fee
Free
Abroad
2.99% non-sterling transaction fee (minimum £3 for cash-related payments).
Rate as of
 0% on balance transfers for up to 36 months if done in the first 60 days (3.09% fee, minimum £5), plus 0% on purchases for 3 months. Needs income or pension of at least £6,800 and you cannot hold an HSBC Basic Bank Account.
Rewards Credit Card
Representative APR
26.9% APR representative
Card fee
Free
Abroad
2.99%
Rate as of
 Needs £6,800 a year, and you cannot hold an HSBC basic bank account. 0% on purchases for 6 months and 0% on balance transfers for 6 months, transferred within 60 days of opening, with a 2.99% fee (minimum £5). Earns 2,500 welcome points worth £25 on the first transaction.
Classic Credit Card
Representative APR
29.9% APR representative
Card fee
Free
Abroad
2.99%
Rate as of
 Only for holders of an active HSBC current account, with the limit capped at £1,000.
Premier Credit Card
Representative APR
29.9% APR representative
Card fee
Free
Abroad
2.99% non-sterling transaction fee (minimum £3 for cash-related payments).
Rate as of
 Only for holders of an HSBC UK Premier Bank Account (a relationship a newcomer can acquire, subject to its own eligibility, typically £75,000 income or savings held with HSBC). No annual fee. Comes with Priority Pass airport lounge access, charged at £24 a person a visit.
HSBC Premier World Elite Mastercard
Representative APR
100.2% APR representative
Card fee
£290 a year
Abroad
2.99% non-sterling transaction fee (minimum £3 for cash-related payments); the card also earns 2 airline miles per £1 spent in non-sterling.
Rate as of
 The 100.2% representative APR reflects the £290 annual fee; the purchase interest rate itself is 29.9%. Only for holders of an HSBC UK Premier Bank Account.

Source: HSBC UK credit cards pages, eligibility checker and credit cards for UK newcomers, 2026-09-25 HSBC UK's own page

Multi-currency accounts

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HSBC Expat

Accepts with conditions
Updated

US persons: its investing arm is closed to US persons, though the bank account itself is not

The account is booked in Jersey with HSBC Bank plc, so protection is the Jersey depositors scheme at £50,000 rather than the £120,000 you get from a UK bank. You need £75,000 in savings or investments to qualify, or £10,000 if you are already HSBC Premier elsewhere, and falling below costs £50 a month.

Jersey scheme £50,000, not FSCS · online, app or phone

Account Terms The catch
Expat Bank Account
Monthly fee
Free while you hold the relationship balance
Interest
None
Currencies
GBP, EUR or USD, with savings in up to 19 currencies
Cost to convert
Not published
Rate as of
 Needs £75,000 in savings or investments, and dropping below costs £50 a month.

Source: HSBC Expat bank account, 2026-08-17 HSBC Expat's own page

Junior cash ISAs

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Not offered
Updated

HSBC UK does not sell a Junior ISA of either kind. Its own guide names the Junior Cash ISA as one of the two Junior ISA types and then says HSBC doesn't offer either, and its children's savings page calls a Junior ISA an alternative not available at HSBC.

Source: HSBC UK 'What Is A Junior ISA?' guide, 2026-09-11 HSBC's own page

Junior stocks & shares ISAs

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Not offered
Updated

HSBC says so on its own children's savings and Junior ISA guide pages: it does not offer a Junior ISA of either kind, cash or stocks and shares. HSBC InvestDirect, its share dealing service, is adult-only, requiring the applicant to be at least 18.

Source: HSBC UK 'What Is A Junior ISA?' guide and 'Saving For Children' page, 2026-09-11 HSBC's own page

Junior SIPPs

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Not offered
Updated

HSBC does not sell a SIPP of any kind, junior or adult, through InvestDirect or otherwise; its only pension presence on the sharedealing and savings pages checked is a login link for an existing personal pension, with no junior product or application route anywhere on the site.

Source: HSBC UK InvestDirect and investments pages, 2026-09-11 HSBC's own page

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Confirm your own position with a cross-border specialist. Acceptance policies and tax rules change, and your facts may differ from the general case. Rates and terms here are the provider's published figures rather than an offer, and the provider decides each application on its own criteria. Use this as a map, not a ruling. Last checked .
Tax

FATCA

Do UK banks report your account to the IRS? Yes, through HMRC, under FATCA. It is a reporting law, not a tax. Where it bites is access.

 Tax

FBAR

If your foreign accounts top $10,000 combined at any point in the year, you file an FBAR. What counts, when it is due, and what happens if you miss it.

 Tax

PFIC

Almost every UK-domiciled fund is a PFIC, taxed by the US at punitive rates with heavy filing. This is why US citizens hold individual shares, not UK funds.

 Tax

Saving for a child

How the US taxes a Junior ISA, a junior pension and a Child Trust Fund held by a US citizen child in the UK, and how a 529 plan compares.