HSBC has made a huge change to its bank account rules (Image: Getty)
High street giant HSBC has made a major change to its current account – requiring customers to earn at least £100,000 a year.
The bank runs a Premier Account which offers customers a host of benefits on top of their normal banking, such as inclusive travel insurance, banking abroad and investment tools as well as a £500 overdraft.
Currently, customers need to have an income of £75,000 per annum or more, or have £50,000 of and investments held with .
But this week, emailed customers to tell them that it is making changes to its eligibility criteria for a HSBC Premier Account, and now you will need to earn at least £100,000 a year for your individual income (not household) in order to have the account or have £100,000 invested.
It said in a message since posted to UKPersonalFinance on : “Changes to your Premier Account.
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“We’re changing the rules on who can qualify for the HSBC Premier Bank Account.
“These new rules have been in place since last September for new customers, and from 9 April 2025 they will apply to all Premier customers.
“You’ll still be able to enjoy all the benefits of your HSBC Premier Bank Account as long as you meet one of the following eligibility requirements:
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Have savings or investments totalling £100,000 or more with HSBC UK. This doesn’t include any balances you hold with Bank, first direct or HSBC Expat.
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Have an annual personal income of £100,000 or more coming into your Premier Account. For joint account holders, at least one of you must meet this requirement.
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Already have a HSBC Premier Bank Account in another country.”
HSBC added via its website: “For the income criteria, in the case of a joint account, at least one of the parties must have an individual annual income of at least £100,000.
“When qualifying through savings or investments, these need to be held with HSBC in the UK within 6 months of account opening if you’re new to HSBC, or before you open your account if you’re an existing customer.”