Minimum age
18 years
HSBC Advance Account
HSBC Advance is a multi-currency account with health, travel and investing perks. It costs AED 105 a month unless you meet a salary or balance route.
At a glance
Key facts
Monthly Fee
AED 105.00/month, waivable
Holding CurrencyMulti-currency
Account access
Debit card included.
Open in the app.
You can apply while your UAE residency is being processed.
Submit your Emirates ID within 75 days.
HSBC Advance is the step up from the HSBC Personal Banking Account. The account itself works the same way. It is a Global Money Account opened in the HSBC UAE app, with one account number and IBAN, up to 21 currencies and a debit card. What Advance adds is a package around it: discounts on healthcare and fitness, travel offers, access to the HSBC WorldTrader investing account and to wealth advisers, and the option to apply for the HSBC Advance Credit Card. In return HSBC expects a larger relationship, built on a salary of at least AED 12,500 or on AED 125,000 held with the bank. The account pays no interest.
Who can open it
Salary transfer
Not required
Fees and balance
Advance is free only while you meet one of its routes. The first route is balance alone: reach a Total Relationship Balance of AED 125,000 within 90 days of opening. That figure is not just your current account. It adds up the money you hold with HSBC UAE in deposit and investment accounts, so savings and investments count too. The second route is salary: transfer at least AED 12,500 a month and build the same AED 125,000 within 18 months. If your employer is in HSBC's Employee Workplace Solutions programme, the salary is enough without the balance. Miss the routes and HSBC charges AED 105 a month, and it may convert the account into a Personal Banking Account. Closing within 6 months of opening also costs AED 105, unless you cancel in the 5 working day cooling-off period.
Monthly fee
AED 105
Waived with a total relationship balance of AED 125,000 in deposits or investments within 90 days of opening, or with monthly salary transfer of at least AED 12,500 and that relationship balance built within 18 months. Employees of companies in HSBC’s Employee Workplace Solutions programme do not need that relationship balance when transferring salary of at least AED 12,500.
Account closure fee
AED 105
Charged only within 6 months of opening. Waived within 5 working days.
In plain words
- Fee waiver
- A waiver is a condition that cancels the fee for that month. The fee here is AED 105 a month, and it is charged only in a month when you do not meet the waiver condition. More on this
- Account closure fee
- A one-off charge of AED 105 for closing the account within 6 months of opening it. Closing it later costs nothing. Closing within the first 5 working days carries no charge either. More on this
Benefits
Up to 21 Currencies
Hold, convert, send and receive up to 21 currencies with one account number and IBAN.
Advance Global Money Debit Card
Spend and withdraw abroad with no foreign currency processing fee in the supported currencies.
International Transfers
Send money abroad in up to 60 currencies in the HSBC UAE app.
Health and Fitness Discounts
Discounts at Aster and Medcare clinics and hospitals, Barraquer Eye Hospital, Aster Optical and Athlete Fitness.
HSBC Advance Credit Card
Advance customers can apply for the HSBC Advance Credit Card, which carries 4 airport lounge visits a year.
Fully digital, no branch visit
Account opening
How to open
Before you apply
1.Open in the app.
2.You can apply while your UAE residency is being processed.
3.Submit your Emirates ID within 75 days.
4.Salary transfer is not required.
5.Debit card included.
Application steps
1.Decide which route you will use: a monthly salary of at least AED 12,500, or AED 125,000 in deposits and investments with HSBC.
2.Prepare proof of income, such as a salary certificate or a bank statement dated within the last 3 months.
3.For the salary route, get a salary transfer letter from a private sector employer, or a salary certificate if you work in the government or public sector.
4.Download the HSBC UAE app and apply for an Advance Global Money Account.
5.Wait for HSBC to verify your documents. Debits are restricted until then, and HSBC gets in touch within 3 to 5 days.
6.For a joint account, both applicants complete the opening at a branch or customer service unit.
Documents and terms
Good to know
Good option for
Your salary is AED 12,500 or more, or you can hold AED 125,000 across HSBC deposits and investments, and you will use the health, travel or investing extras.
Consider another account if
You cannot meet either route, because AED 105 a month then applies to an account that pays no interest. Compare other current accounts with a lower fee test.
What HSBC counts as salary
A payment counts as salary when it reaches the account every month with the description Salary, or an equivalent such as Sal. Allowances and incentives count if they are part of that same payment. Amounts your employer pays separately and only occasionally are not counted towards the AED 12,500.
Applying before your Emirates ID arrives
HSBC accepts Advance applications from people whose UAE residency is still being processed. The condition is time: your residency visa and Emirates ID must reach HSBC within 75 days of the account opening. After that point cards and digital payments are frozen until the Emirates ID is received, and a cheque book cannot be issued before it.
Frequently asked questions
Get answers to common questions about the HSBC Advance Account