| Annual Fee | Islamic Banking | Minimum Balance | Multiple Currencies | |
|---|---|---|---|---|
HSBC Standard Corporate Current Account
|
Annual Fee: AED 0 | Islamic Banking: No | Minimum Balance: AED 20,000 | Multiple Currencies: Yes |
Business Select Packages (BSP) are hassle free business banking. BSP has 3 kinds of accounts, Standard Corporate Account, BSP Basic account and BSP Premium Account.
HSBC Standard Corporate Current Account Features:
HSBC Standard Corporate Current Account Features:
- Low minimum account balance - for all Current Accounts, so you have the flexibility to get what you need
- Preferential rates on Forex transactions - using USD, GBP, EUR, or JPY currencies
- Available in AED and in other major foreign currencies
- Free cash and cheque transactions - using business HSBC ATMs, cash and cheque deposit machines
- Free Phone Banking services - at the touch of a button
- Free access to Business Customer Service Centres - bank in extended hours, at our centres around the UAE
- Monthly Maintenance Fee - Nil
- Monthly service charge below average balance - AED 150 or equivalent in foreign currency
- Currency Type - USD, GBP, EUR, or JPY
- Minimum balance -AED 20,000 (or equivalent) in each account OR AED 100,000 as a relationship level balance in one account
- Cheque Transaction Limit (Cheque Deposit Machine) - Unlimited
- Inward Clearing Cheques processing - Unlimited
- House Cheques processing - Unlimited
- Cheque Transaction Limit (Over branch counter) - 5 Credit
- Cash Transaction Limit (Cash Deposit Machine/ ATM Withdrawal) - Free
- Cash Transaction Limit (Over branch counter) - 5 Credit and 5 Debit
- Transaction Charges (Deposit Machine/ ATM Withdrawal) - Free
- Transaction Charges exceeding threshold (Over branch counter) - AED 20
- Business Telephone Banking subscription and maintenance - Free
- Outward FCY TT (Manual) - AED 100
- Outward Local TT (Manual) - AED 75
- Outward FCY / Local TT (Electronic) - AED 40
- Inward SWIFT TT (not involving FX convers) - AED 22
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
