14matters on the record across its booking centres, 2016 to 2026
2.4/5141 UHNW client ratings across its booking centres
The editor's opinion
Why HSBC rates 2.0 out of 5
HSBC rates 2.0 out of 5. Its eight rated booking centres, in the United Kingdom, Switzerland, Hong Kong, Singapore, the United Arab Emirates, Bermuda, Guernsey and Jersey, all hold two stars, so weighting them by the UHNW client ratings each has received leaves the overall rating at the same level. Its booking entities carry 14 matters on the record, the most recent in 2026; each is listed below with the centre it concerns. Across its booking centres, 141 UHNW client ratings average 2.4 out of 5.
Noam Cohen, Editor, Bank IntelligenceReviewed 6 November 2026, Q4 2026 edition. Each booking centre is rated on its own file, from the public record and what clients and their advisers tell us in confidence. The overall rating brings those ratings together; retail products, branches and apps play no part.
Where HSBC stands out
Remediation of past findings has been verified by the regulator. United Kingdom, Hong Kong, Singapore, Guernsey and Jersey
Custody assets are protected by statute in the booking centre, with conditions a family should read. United Kingdom, Switzerland and Hong Kong
Deposits are covered by a statutory protection scheme. United Kingdom, Switzerland, Singapore, Bermuda, Guernsey and Jersey
No politically exposed person holds a significant stake. All centres
The custody terms are public and address most of what a family needs to know. Switzerland
The bank states publicly what it does with third-party payments. Switzerland
A full range of private banking services is published for this booking unit. Hong Kong
Most fees are published. Singapore and United Arab Emirates
No final adverse finding against this licence holder in ten years of regulatory and court records. United Arab Emirates and Bermuda
A broad range of private banking services is published for this booking unit. United Arab Emirates
The fee schedule is published in full, so a family can price the relationship before asking. Guernsey
Custody assets are segregated by statute and sit outside the bank's own estate. Jersey
What to weigh
Serious adverse findings against this licence holder in the last ten years. United Kingdom, Guernsey and Jersey
The last adverse finding is recent. United Kingdom, Switzerland, Hong Kong, Singapore, Guernsey and Jersey
Only a summary of the custody terms is public. United Kingdom and Singapore
Only part of the private banking range is published for this booking unit. United Kingdom, Switzerland, Bermuda, Guernsey and Jersey
No fee schedule is published; pricing is given on request. United Kingdom
Whether independent asset managers are served by a dedicated desk is not published. United Kingdom and United Arab Emirates
Four matters are still open with the authorities and not decided. It carries no weight in the rating until it is decided. Switzerland
A significant regulatory finding stands on the record in the last ten years. Switzerland, Hong Kong and Singapore
Ownership is only partly public. Switzerland, United Arab Emirates, Bermuda and Jersey
The bank has not shown publicly that the failings behind past findings were put right. Switzerland
The custody terms are public but silent on re-use of assets and on sub-custodians. Hong Kong, United Arab Emirates, Bermuda and Guernsey
Only part of the tariff is published. Hong Kong, Bermuda and Jersey
No public policy on third-party payments or retrocessions. Hong Kong, Singapore, United Arab Emirates, Bermuda and Guernsey
The file does not yet confirm deposit protection for this booking unit. Hong Kong and United Arab Emirates
Few private banking services are published for this booking unit. Singapore
This file does not yet show how custody assets are ring-fenced by law in this centre. Singapore, United Arab Emirates, Bermuda and Guernsey
The custody agreement is not public, so its terms could not be reviewed. Jersey
United Kingdom · HSBC UK Bank plc33 client ratings · 23% of the weight
Switzerland · HSBC Private Bank (Suisse) SA22 client ratings · 16% of the weight
Hong Kong · The Hongkong and Shanghai Banking Corporation Limited37 client ratings · 26% of the weight
Singapore · The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch17 client ratings · 12% of the weight
United Arab Emirates · HSBC Bank Middle East Limited5 client ratings · 4% of the weight
Bermuda · HSBC Bank Bermuda Limited17 client ratings · 12% of the weight
Guernsey · HSBC Bank plc, Guernsey Branch4 client ratings · 3% of the weight
Jersey · HSBC Bank plc, Jersey Branch6 client ratings · 4% of the weight
PPLI.com rating, weighted across the centres2.0
Each booking centre keeps its own rating, set on its own file. The overall rating is the average of those ratings, weighted by the number of UHNW client ratings each centre has received. A centre whose rating is still in preparation is shown but not counted.
The rating expresses the opinion of PPLI.com on the date shown. It is not a statement of fact about the bank, not a credit rating, not a forecast of failure and not investment advice.
The booking centres
HSBC in 8 booking centres
Each booking centre is a separate legal entity, with its own licence, deposit protection, services and fees, and keeps its own PPLI.com rating. Everything on file for them is brought together on this page; open a centre for its own file.
What regulators, prosecutors and courts have decided against the booking entities of HSBC, gathered from the files of all its booking centres, with the status, the amounts as published and a link to the original document. Each entry names the centre it concerns. Claims and investigations still under way are marked as open.
20265 June 2026
Preliminary charges of organised money laundering and conspiracy in the Banque du Liban embezzlement case
The National reported on 5 June 2026, after Le Monde, that French prosecutors had brought preliminary charges against HSBC's Swiss unit, without giving the legal name HSBC Private Bank (Suisse) SA, over embezzlement that prosecutors allege took place at Banque du Liban from 2002 to 2015. An investigating judge will decide whether the case goes to trial, and the matter is open.
Booking centre: Switzerland · HSBC Private Bank (Suisse) SAFrench prosecutors (the article says prosecutors filed the preliminary charges; an investigating judge will decide on trial; Paris is not stated)Public investigationOpen matter, not decidedPrimary source
202526 August 2025
Reprimand and fine for failing to disclose investment banking relationships in research reports (2013 to 2021)
After HSBC self-reported, the SFC and HKMA found that over 4,200 research reports on Hong Kong-listed securities published from 2013 to 2021 failed to disclose, or wrongly disclosed, the bank's investment banking relationships with the covered companies, caused by data mapping weaknesses. The SFC reprimanded the bank and fined it HK$4.2 million. The regulators noted no evidence of client loss, the self-report and cooperation.
reprimanded and fined The Hongkong and Shanghai Banking Corporation Limited (HSBC) HK$4.2 million
HSBC reviewed the root causes and extent of the breaches and upgraded its systems and controls.
Claim by the Lebanese Republic over due diligence on funds linked to the former central bank governor
The New Arab reported on 5 February 2025 that the Lebanese Republic, through its head of state litigation Helene Iskandar, filed a lawsuit on 14 January 2025 against HSBC Private Bank (Suisse) SA, alleging that the bank did not carry out proper due diligence on the sums involved in the Riad Salameh case. The report gives no court and no amount, and the claim is open.
Criminal proceedings for suspected money laundering linked to the former governor of Lebanon's central bank
Bloomberg, reported by swissinfo on 30 July 2025, said the Office of the Attorney General of Switzerland opened criminal proceedings in January 2025 against HSBC Private Bank (Suisse) SA, an unnamed individual and four other unknown persons on suspicion of money laundering. HSBC said two historical banking relationships were under Swiss and French investigation at an early stage and that the impact could be significant, and the proceedings are open.
Discretionary civil penalty under the Financial Services (Civil Penalties) Regulations 2015 (restrained account payments; cheque issued without FIU consent)
The IOMFSA imposed a civil penalty of GBP 293,930 (after a 30% discount from GBP 419,900) on HSBC Bank plc, Isle of Man Branch, for breaches of Rule 6.1 and Rule 8.3(2) of the Financial Services Rule Book 2016 and paragraph 4(1)(a)(iii) of the AML/CFT Code 2019: the branch failed to reapply preventative controls after permitted payments, allowing three recurring payments to leave a restrained account, and separately issued a cheque without the required Financial Intelligence Unit consent. Isle of Man matter of the legal entity whose Guernsey branch holds the local licence.
HSBC be required to pay a discretionary civil penalty imposed under section 16 of the Act
FINMA enforcement: serious breach of anti-money laundering obligations in two PEP relationships (funds from Lebanon)
FINMA opened proceedings in December 2021 and concluded in June 2024 that HSBC Private Bank (Suisse) SA breached its anti-money laundering obligations in two high-risk relationships with politically exposed persons; transactions between 2002 and 2015 totalled more than USD 300 million and moved from Lebanon to Switzerland and largely back. FINMA ordered a review of all high-risk and PEP relationships, a check of customer risk categorisation, an audit researcher on site, and a ban on new PEP relationships until the measures are implemented. FINMA stated the decision had not entered into force; no monetary penalty is stated.
The transactions in question were carried out between 2002 and 2015 and amounted to a total of more than USD 300 million.
Review of all current high-risk and PEP relationships from an AML perspective; check of risk categorisation of other customers; on-site monitoring by an audit researcher reporting to FINMA; detailed account of responsibilities within board and executive management.
Final notice: failures in the treatment of customers in arrears or financial difficulty
The FCA imposed a penalty of GBP 6,280,100 on HSBC UK Bank plc (30% discount from GBP 8,971,600) for failing to show forbearance and due consideration to retail customers in arrears between 1 June 2017 and 31 October 2018, breaching Principles 3 and 6 and consumer credit and mortgage conduct rules. HSBC had offered GBP 233,186,073 in redress to 1,535,136 customers, of which about GBP 185 million had been paid. The conduct was in retail banking and consumer credit, not the private bank.
The Authority hereby imposes on HSBC UK a financial penalty of £6,280,100 pursuant to section 206 of the Act.
Redress programme of GBP 233,186,073 offered to 1,535,136 customers.
Fine for unfair treatment of customers in arrears or financial difficulty
The UK Financial Conduct Authority fined HSBC Bank plc, HSBC UK Bank plc and Marks and Spencer Financial Services plc GBP 6,280,100 together for breaches of Principles 3 and 6 and of consumer credit and mortgage rules in their treatment of customers in arrears or financial difficulty between 1 June 2017 and 31 October 2018. The FCA cited weaknesses in policies, procedures, staff training and oversight. The fine reflects a 30 per cent settlement discount from GBP 8,971,600.
PRA final notice: failures in deposit protection identification and notification (Depositor Protection Rules)
The PRA fined HSBC Bank plc and HSBC UK Bank plc GBP 57,417,500 jointly for failing to identify deposits eligible for FSCS protection accurately (HBEU 2015 to 2022, HBUK 2018 to 2021), failing to assign clear ownership of depositor protection processes, and, for HBEU, failing to alert the PRA for about 15 months and giving an incorrect attestation. The firms received a 15% reduction for cooperation including early admission of some breaches and a further 30% for settlement; without reductions the fine would have been GBP 96.5 million. The joint penalty cannot be split between the two entities from the press release.
The PRA has fined HSBC Bank plc (HBEU) and HSBC UK Bank plc (HBUK) (together, the Firms) £57,417,500
Final notice, deficient transaction monitoring controls (31 March 2010 to 31 March 2018)
The FCA fined HSBC Bank plc GBP 63,946,800 for failings in its anti-money laundering processes over eight years, finding serious weaknesses in three parts of its automated transaction monitoring systems (scenario coverage, parameter testing and data accuracy). HSBC did not dispute the findings and agreed to settle early, receiving a 30% discount from GBP 91,352,600. This is a UK matter of the legal entity whose Guernsey branch holds the local licence.
The FCA has fined HSBC Bank plc (HSBC) £63,946,800 for failings in its anti-money laundering processes.
Deferred prosecution agreement, conspiracy to defraud the United States and help US clients evade tax (2000 to 2010)
The the US Department of Justice announced a deferred prosecution agreement filed in the Southern District of Florida under which HSBC Private Bank (Suisse) SA admitted that between 2000 and 2010 it conspired with employees, fiduciaries and US clients to conceal assets and evade US tax, with undeclared US assets peaking at about USD 1.26 billion in 2007. The bank agreed to pay USD 192.35 million in three parts (penalty, restitution, forfeiture) and to cooperate for an initial three year term.
The $192.35 million penalty against HSBC Switzerland has three parts.
Full cooperation, proactive disclosure of US-related account information, reporting on accounts closed 2009 to 2017.
Booking centre: Switzerland · HSBC Private Bank (Suisse) SAUS Department of JusticeResolution with admissionTotal payment USD 192.3 million; Penalty USD 59.9 million; Restitution USD 60.6 million; Forfeiture USD 71.8 millionAdmission of the factsPrimary source
20193 October 2019
Criminal settlement (transaction pénale) over offences related to tax fraud
Reported by RTBF on 4 October 2019: the Brussels chambre du conseil approved on 3 October 2019 a EUR 295 million criminal settlement that HSBC's Swiss private bank, HSBC Private Bank (Suisse) SA, had reached with the Brussels public prosecutor that summer, the largest in Belgian history. RTBF said the bank acknowledged past weaknesses in its control framework and that a further EUR 493 million was to be claimed from fraudsters.
Booking centre: Switzerland · HSBC Private Bank (Suisse) SABrussels public prosecutor; settlement approved by the Brussels chambre du conseilReportedPenalty EUR 295 millionNot counted in the rating until the decision itself is publishedReport
201714 November 2017
Convention judiciaire d'intérêt public (first French CJIP), aggravated tax fraud laundering and illegal solicitation of French clients
The PNF and HSBC Private Bank (Suisse) SA concluded a CJIP under which the bank paid EUR 300 million (a public interest fine of EUR 157,975,422 made up of EUR 86.4 million disgorgement and a EUR 71,575,422 penalty, plus EUR 142,024,578 damages to the French State). The prosecution estimated that French clients concealed at least EUR 1,638,723,980 in 2006 and 2007. A CJIP does not carry a declaration of guilt under French law, although the text records that the bank acknowledges the facts and accepts their legal characterisation. The exact signature and validation dates are not printed in the AFA copy.
PBRS acknowledges these facts and accepts their legal characterization.
Booking centre: Switzerland · HSBC Private Bank (Suisse) SAParquet national financier (France), CJIP validated by the Tribunal de grande instance de ParisSettlement without admissionTotal payment EUR 300 million; Public interest fine total EUR 158 million; Disgorgement EUR 86.4 million; Penalty EUR 71.6 million; Damages to french state EUR 142 millionPrimary source
201614 September 2016
Reprimand and fine for breaching position limits on Hang Seng China Enterprises Index futures and options and inadequate internal controls
The SFC found that HSBC held open positions in HSCEI futures and options above the prescribed limit on 18 occasions between 26 May and 1 August 2014 and lacked adequate controls to monitor its exchange-traded positions. The SFC reprimanded the bank and fined it HK$2.5 million. The SFC noted the bank had since improved its monitoring controls and cooperated.
has reprimanded and fined The Hongkong and Shanghai Banking Corporation Limited (HSBC) $2.5 million
The SFC noted HSBC had since improved its position limit monitoring controls.
Matters concerning other entities in the group (2)
201721 November 2017
SFAT upholds HK$400 million fine and partial registration suspension for systemic failures in selling Lehman-related notes and leveraged forward accumulators (2003 to 2008)
This action was against HSBC Private Bank (Suisse) SA's Hong Kong branch, a separate licence holder, not The Hongkong and Shanghai Banking Corporation Limited. The SFAT reduced the SFC's HK$605 million fine to HK$400 million, replaced revocation with a one-year suspension of the Type 4 registration and partial suspension of Type 1, finding the failings were not shown to be dishonest or reckless. Recorded for context only.
Shown for context only: it concerns a different company in the same group.
HSBC Private Bank (Suisse) SA, the Hong Kong branch of the Switzerland-based private banking business of HSBC Group, has been
The SFAT noted the bank had taken steps to improve its systems.
Final notice: failings in G10 spot FX trading controls (five-bank settlement)
In the November 2014 five-bank FX settlement the FCA fined HSBC Bank Plc GBP 216,363,000 for failing to control business practices in its G10 spot FX voice trading desk in London between 1 January 2008 and 15 October 2013, with a 30% discount. Investment bank conduct, HSBC Bank plc entity; attaches: false for HSBC UK Bank plc.
respondent (sister entity HSBC Bank plc; does not attach to HSBC UK Bank plc)
What clients meet at HSBC across its booking centres, read from complaint registers, ombudsman decisions and court records, independent reporting and what clients and their advisers tell PPLI.com in confidence. Announcements by the bank, awards and marketing material are left out.
UHNW client ratings
2.4 out of 5, based on 141 client ratings across its booking centres.
United Kingdom2.1 out of 533 ratings
Switzerland4.1 out of 522 ratings
Hong Kong1.4 out of 537 ratings
Singapore2.7 out of 517 ratings
United Arab Emirates1.8 out of 55 ratings
Bermuda3.1 out of 517 ratings
Guernsey1.3 out of 54 ratings
Jersey3.0 out of 56 ratings
What clients report
United Kingdom. Trustpilot's profile for HSBC UK, the retail brand of HSBC UK Bank plc, scores 4.4 out of 5 from 29,779 reviews and reflects retail customers, not the private bank. The FCA final notice of May 2024 concerned the treatment of retail customers in arrears or financial difficulty between June 2017 and October 2018, also outside private banking.
Switzerland. The Swiss Banking Ombudsman reports statistics only, not by bank, and the bank has no Trustpilot reviews. The one civil claim against the bank in the public record was brought by the Lebanese Republic, not by a private client, and no claim by a private client against it has reached a published judgment. Bloomberg reported in August 2025 that the bank was exiting more than 1,000 clients from Saudi Arabia, Lebanon, Qatar and Egypt, who were to receive closing letters.
Hong Kong. Trustpilot's profile for the bank's Hong Kong retail website, hsbc.com.hk, scores 1.4 out of 5 from 117 reviews. In the August 2025 decision of the SFC and HKMA on disclosure failures in more than 4,200 research reports, the bank had reported the problem itself and no client losses were identified.
Singapore. FIDReC, the Singapore dispute resolution centre for financial services, keeps no public register of decisions by firm, and no complaints figures are published for The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch. The two Singapore judgments involving HSBC, of August 2017 and October 2022, were bankruptcy applications brought as creditor by the separate subsidiary HSBC Bank (Singapore) Limited, and in the second the court annulled the bankruptcy order because the debtor had died before the application was filed.
United Arab Emirates. The one recent enforcement report in the region, the January 2026 fine on HSBC Bank Egypt, concerns a sister company and not the bank.
Bermuda. The Madoff-related case decided in part by the Luxembourg Court of Cassation in 2025, which led the group to book a USD 1.1 billion provision, concerns the sister company HSBC Securities Services (Luxembourg) rather than the bank, and remains open.
Guernsey. Neither the Channel Islands Financial Ombudsman nor any complaints register publishes figures for HSBC Bank plc, Guernsey Branch on its own. The client-treatment record of the legal entity is regulatory: the FCA fine of May 2024 over customers in arrears or financial difficulty, and an Isle of Man penalty of almost GBP 300,000 in November 2024 after the bank's Isle of Man branch let three recurring payments leave an account under a restraint order and issued a cheque without the consent of the Financial Intelligence Unit. The USD 12 billion Colorado trust suit filed on 5 December 2025 names the parent HSBC Holdings plc and the Jersey sister company HSBC Private Bank (Jersey) Limited, not the bank, and no ruling has been reported. In Guernsey the bank closed its Bridge branch on 24 September 2025, citing lower footfall and a move to digital banking.
Jersey. The Trustpilot profile for expat.hsbc.com, the HSBC Expat website, scores 1.2 out of 5 from 178 reviews, 93% of them one-star, though the profile gives a London address and does not identify the Jersey branch. A USD 12 billion suit filed in the US District Court for the District of Colorado on 5 December 2025, alleging that banks assisted the looting of a family trust moved to Jersey, names the parent HSBC Holdings plc and the sister company HSBC Private Bank (Jersey) Limited, not the branch, and is undecided.
Worth raising with the bank
United Kingdom. Ask how the bank identifies private-banking deposits that qualify for deposit protection and how it informs depositors, given the PRA final notice of January 2024 on failures in deposit protection identification and notification.
Switzerland. Ask whether the FINMA bar of June 2024 on new relationships with politically exposed persons is in force today, and whether the audit researcher has given its confirmation.
Switzerland. Ask what the bank has provisioned or disclosed for the Swiss and French criminal proceedings over the Banque du Liban relationships, given HSBC's own statement that the impact could be significant.
Hong Kong. Ask whether the Korean short-selling penalty of December 2023 and the criminal referral that followed were directed at the bank itself, and what came of the referral.
Singapore. Ask whether any part of your relationship is booked with HSBC Private Bank (Suisse) SA, which FINMA barred in June 2024 from opening new relationships with politically exposed persons until a review is confirmed.
Guernsey. Ask what controls the bank now applies to accounts under court restraint orders, after the Isle of Man penalty of November 2024 for payments made from a restrained account.
Jersey. Ask whether the controls that let payments leave a restrained account at the Isle of Man branch, penalised in November 2024, also apply in Jersey, and what was changed.
Jersey. Ask whether HSBC Private Bank (Jersey) Limited, named in the USD 12 billion Colorado suit of December 2025, provides any trust, custody or banking service to the family's structures.
Financial standing
Credit ratings published by the agencies for the companies named in the centre files, dated by the latest agency or bank document that confirms them
Agency
Rating
Outlook
As of
Rated company
S&P
A-
Not stated
HSBC Bank Bermuda Limited
Moody's
A3 / P-2
Stable
September 2026
HSBC Bank Middle East Limited
Fitch
A+ / F1+
Stable
September 2026
HSBC Bank Middle East Limited
Moody's
A1
Positive
September 2026
HSBC Bank plc
S&P
A+
Positive
September 2026
HSBC Bank plc
Fitch
AA
Stable
September 2026
HSBC Bank plc
Moody's
A3
Positive
September 2026
HSBC Holdings plc (parent)
S&P
A-
Positive
September 2026
HSBC Holdings plc (parent)
Fitch
A+
Stable
September 2026
HSBC Holdings plc (parent)
Fitch / Moody's / S&P
A+ / A3 / A-
Stable / positive / positive
September 2026
HSBC Holdings plc (parent)
Moody's / S&P / Fitch
A3 / A- / A+
Positive / positive / stable
September 2026
HSBC Holdings plc (parent)
Moody's
A1
Positive
September 2026
HSBC UK Bank plc
S&P
A+
Positive
September 2026
HSBC UK Bank plc
Fitch
AA
Stable
September 2026
HSBC UK Bank plc
Moody's
Aa3
Stable
September 2026
The Hongkong and Shanghai Banking Corporation Limited
S&P
AA-
Stable
September 2026
The Hongkong and Shanghai Banking Corporation Limited
Fitch
AA
Stable
September 2026
The Hongkong and Shanghai Banking Corporation Limited
The National, after Le Monde, reported that French prosecutors brought preliminary charges of money laundering by an organised group and conspiracy against HSBC's Swiss unit in the Banque du Liban embezzlement case.
Barclay Simmons, a former Butterfield chairman, replaced Anthony Joaquin as chairman, with Christian Dunleavy joining the board and Fiona Luck leaving after nine years.
The Central Bank of Egypt fined the sister company HSBC Bank Egypt EGP 1.5 billion, about USD 31 million, for breaching rules on granting financing and credit.
Comsure reported a USD 12 billion suit in the US District Court for the District of Colorado naming HSBC Holdings plc, HSBC Bank USA and HSBC Private Bank (Jersey) Limited over a Colorado trust moved to Jersey.
The bank raised pay for some bankers to stem departures, which included interim head John Shipman's move to Barclays, and that Daniel Calado was promoted to lead it on an interim basis.
The Royal Gazette reported a USD 1.1 billion HSBC group provision after a Luxembourg court ruled partly against the sister company HSBC Securities Services (Luxembourg) in Madoff-related litigation.
Swiss federal prosecutors opened a criminal probe against HSBC Private Bank (Suisse) SA in January 2025 linked to Lebanon's former central bank governor, and that HSBC said the impact could be significant.
Investment Week reported that Annabel Spring would leave as chief executive of HSBC Global Private Banking and Wealth at the end of December 2024, with Gabriel Castello as interim chief executive.
The Isle of Man Financial Services Authority fined HSBC Bank plc, Isle of Man Branch almost GBP 300,000 for allowing a court restraint order on an account to be breached.
The FCA fined HSBC UK Bank plc, HSBC Bank plc and Marks and Spencer Financial Services plc GBP 6,280,100 for unfair treatment of customers in financial difficulty.
Korea's Financial Services Commission fined BNP Paribas and Hong Kong-based HSBC a combined KRW 26.5 billion for naked short selling, with HSBC's orders totalling KRW 16 billion in nine Korean stocks in 2021.
What it costs
What HSBC charges, centre by centre
Fees are set by each booking entity, so they are shown centre by centre. Six of the eight centres of HSBC publish a fee schedule, read on 6 November 2026 from the documents linked under each table. To compare banks fairly we put every published fee in US dollars at the same indicative rates and apply it to the same reference amounts, then rate each fee against the average of the other banks that publish it. Five stars is the lowest fee, one star the highest. Terms a family actually negotiates are often different, and a bank can change its schedule at any time.
Retail schedule, shown as published and not compared with private banking terms
Lombard loan marginmargin over the reference rate
Overdraft Protection interest rate HSBC Best Lending Rate + 4% per annuman overdraft rate is published, not a Lombard loan margin Source
Retail schedule, shown as published and not compared with private banking terms
Not in the published schedule: custody and safekeeping, discretionary mandate, advisory mandate, equity trade, bond trade, third party fund subscription, currency conversion, account maintenance, transfer of securities to another bank, closing the account.
Retail schedule, shown as published and not compared with private banking terms
Not in the published schedule: discretionary mandate, advisory mandate, equity trade, bond trade, third party fund subscription, currency conversion, account maintenance, lombard loan margin.
Not in the published schedule: discretionary mandate, advisory mandate, equity trade, currency conversion, minimum annual fee, transfer of securities to another bank, closing the account, lombard loan margin.
Sources.
Money transfers cost options (HSBC UAE), read on 6 November 2026. Web page covering Premier, Advance/Personal Banking and Global Private Banking (Private Bank) segments; private bank rows show No Fees.
Private Bank Account (HSBC UAE), read on 6 November 2026. Product page; states no monthly service fee for Private Bank customers and USD 2,000,000 total relationship balance eligibility.
Retail schedule, shown as published and not compared with private banking terms
Not in the published schedule: custody and safekeeping, discretionary mandate, advisory mandate, equity trade, bond trade, third party fund subscription, currency conversion, minimum annual fee, transfer of securities to another bank, closing the account, lombard loan margin.
Lending rates, read on 6 November 2026. HSBC Bank Bermuda Limited, 37 Front Street, Hamilton. BMD base rate 4%; Premier secured personal loan 6.75%, overdraft 7.5%, Premier line of credit 8.5%.
Guernsey · HSBC Bank plc, Guernsey BranchCentre file
The reference relationship, at HSBC's list prices
USD 131,750 a year
53 basis points for custody and a discretionary mandate (custody USD 59,750, discretionary mandate USD 72,000)
With the trades, conversions and transfers of the reference year added at list price: about USD 209,492 a year, 84 basis points.
against 22 other banks on custody and mandate fees
Price level of the published fees9 fees compared with the other banks that publish them
Fee
HSBC
Other banks
Against the others
Custody and safekeepingeffective rate on USD 25 million
0.24% a year0.28% at USD 10m, 0.20% at USD 50m; stated as a maximum Source
0.30% a yearaverage of 38 other banks
below the average
Discretionary mandateeffective rate on USD 12.5 million, balanced profile
0.58% a year0.58% at USD 10m, 0.50% at USD 50m; stated as a maximum Source
1.26% a yearaverage of 25 other banks
among the lowest
Advisory mandateeffective rate on USD 12.5 million
0.46% a year0.46% at USD 10m, 0.45% at USD 50m; stated as a maximum Source
0.95% a yearaverage of 21 other banks
among the lowest
Equity tradecommission on a USD 250,000 trade, major exchange
Not in the published schedule: account maintenance, minimum annual fee, closing the account, lombard loan margin.
Third party payments. The schedule states: “Introduction fees are typically 25% of referral revenue in the first year, paid to or received from HSBC Group members.”
Retail schedule, shown as published and not compared with private banking terms
Not in the published schedule: custody and safekeeping, discretionary mandate, advisory mandate, equity trade, bond trade, currency conversion, account maintenance, transfer of securities to another bank, closing the account, lombard loan margin.
Third party payments. The schedule states: “Payable by the fund provider or insurer for specific fund share classes. No rate is stated; the amount is disclosed before implementation.”
Our Investment Services, read on 6 November 2026. Key facts document; carries only a 2024 copyright line. Names HSBC Bank plc, Jersey Branch. Advice and implementation fees and execution-only fund charges.
How the comparison works: USD 25 million booked with the bank: half under a discretionary balanced mandate, half in custody with advice; 24 equity trades of USD 250,000 and 8 bond trades of USD 500,000 a year; 6 currency conversions of USD 1 million; 24 outgoing international transfers. Tiered fees are applied to those amounts tranche by tranche, stated minimums are applied, and amounts are converted at indicative rates of 2026-11-06. Read how we compare fees.
ControlWidely held; no shareholder with 10% or more Source (11 July 2025)
Disclosed holdings of 3% or moreBlackRock, Inc. 9.09% Source (11 July 2025); Ping An Asset Management Co., Ltd. 7.98% Source (7 May 2024)
Ownership is shown as published, with its date. It describes who owns the bank; it does not, by itself, suggest any wrongdoing by the bank or its owners.
Booking entities
United KingdomHSBC UK Bank plcPRA (authorisation and prudential) and FCA (conduct) · Locally incorporated subsidiary · LEI 21380081EP12LC86CB82Licence: UK ring-fenced bank authorised to accept deposits (Financial Services Register No. 765112) Source
Hong KongThe Hongkong and Shanghai Banking Corporation LimitedHKMA (banking); SFC (registered institution for securities activities) · Locally incorporated subsidiary · LEI 2HI3YI5320L3RW6NJ957Licence: Licensed bank, incorporated in Hong Kong Source
SingaporeThe Hongkong and Shanghai Banking Corporation Limited, Singapore BranchMAS · Branch of The Hongkong and Shanghai Banking Corporation Limited · LEI 2HI3YI5320L3RW6NJ957Licence: HSBC Bank (Singapore) Limited: Qualifying Full Bank (locally incorporated subsidiary); also Exempt Capital Markets Services Entity, Exempt Financial Adviser. The Hongkong and Shanghai Banking Corporation Limited (incorporated in Hong Kong SAR) holds a separate Full Bank licence as a Singapore branch, plus Exempt Trust Company and SGS Primary Dealer. Source
United Arab EmiratesHSBC Bank Middle East LimitedDFSA (lead regulator); Central Bank of the UAE (UAE branch); UAE Capital Market Authority licence 602004 for certain activities · Locally incorporated subsidiary · LEI 549300F99IL9YJDWH369Licence: UAE branch regulated by CBUAE, lead-regulated by DFSA Source
BermudaHSBC Bank Bermuda LimitedBermuda Monetary Authority (BMA) · Locally incorporated subsidiary · LEI 0W1U67PTV5WY3WYWKD79Licence: 'licensed to conduct Banking and Investment Business by the Bermuda Monetary Authority' (site footer) Source
GuernseyHSBC Bank plc, Guernsey BranchGuernsey Financial Services Commission (GFSC); licence holder authorised by the UK PRA and regulated by the FCA and PRA · Branch of HSBC Bank plcLicence: GFSC reference 7: Banking licensee (Banking Supervision Law, 2020, 'to take deposits'); Insurance intermediary; Investment licensee (Protection of Investors Law, 2020); Credit Provider; Ancillary credit services; registered Money Service Provider (money services business and money broking) Source
JerseyHSBC Bank plc, Jersey BranchJersey Financial Services Commission (JFSC); licence holder HSBC Bank plc authorised by the PRA and regulated by the FCA and PRA · Branch of HSBC Bank plcLicence: JFSC Banking (DC0075, deposit-taking under the Banking Business (Jersey) Law 1991); Investment Business IB0071 (class A dealing, class C advice); Fund Services Business FSB2233 (distributor, subscription and redemption researcher); General Insurance Mediation GIMB0035; Money Service Business MSB0128 (notified) Source
Offered at one or more booking centresOffered by the group, not confirmed at a centreNot located, which does not mean unavailable Checked on the bank's own pages for each centre.
Access and costs
Minimum relationshipUnited Kingdom:Not published Switzerland:Not published Hong Kong: more than USD5 million (or currency equivalent) of investable assets (the page directs those with smaller amounts to HSBC Premier). Source Singapore:Not published United Arab Emirates: USD 2 million Source Bermuda:Not published Guernsey:Not published Jersey:Not published
US personsUnited Kingdom: Not published Switzerland: Not published Hong Kong: Not published Singapore: Not published United Arab Emirates: Not published Bermuda: Not published Guernsey: Not published Jersey: Accepted with restrictions
Third party paymentsUnited Kingdom: Not published Switzerland: Published Source Hong Kong: Not published Singapore: Not published United Arab Emirates: Not published Bermuda: Not published Guernsey: Published Source Jersey: Published Source
Transfer out termsUnited Kingdom: Not published Switzerland: Published Source Hong Kong: Not published Singapore: Not published United Arab Emirates: Not published Bermuda: Not published Guernsey: Published Source Jersey: Not published
Protection of client assets
Deposit protectionUnited Kingdom: UK incorporated banks are FSCS members: GBP 120,000 per eligible person per bank since 1 December 2025, up to GBP 1.4 million for temporary high balances. Switzerland: All banks with a Swiss office must be members of esisuisse: privileged deposits are protected up to CHF 100,000 per client per bank, including non-resident clients and foreign currency deposits, within a system cap. Hong Kong and United Arab Emirates: Not published Singapore: Full banks in Singapore, including local banks and qualifying full banks, are members of the SDIC Deposit Insurance Scheme unless exempted by MAS: S$100,000 per depositor per member. Membership taken from the SDIC rule; the named member list is to be checked. Only eligible Singapore-dollar deposits are insured; deposits in US dollars or other currencies are not covered. Bermuda: Bermuda Deposit Insurance Scheme: BD$25,000 per depositor per member, Bermuda dollar deposits only. Deposits in US dollars or any other currency are excluded, which matters for most international clients. Guernsey: Banks licensed in Guernsey, including branches, participate in the Guernsey Banking Deposit Compensation Scheme: GBP 50,000 per qualifying depositor per bank, with a GBP 100 million cap in any five years. Jersey: Jersey Depositors Compensation Scheme: GBP 50,000 per eligible depositor per Jersey banking group, payment aimed within seven working days; the GBP 100 million total cap was removed on 1 April 2026.
Custody lawUnited Kingdom: Custody assets and client money are protected under the FCA Client Assets Sourcebook (CASS 6 and CASS 7, statutory trust for client money), made under the Financial Services and Markets Act 2000. Consent rules for use of custody assets sit in CASS, which is regulatory rule text rather than primary statute. Switzerland: Swiss Banking Act art. 37d: custody assets held for clients are separated from the bankrupt bank's estate and handed over to the clients, with privileged deposits protected under arts. 37a and 37h. Hong Kong: Client securities held by licensed or registered persons must be safeguarded under the Securities and Futures Ordinance and the Securities and Futures (Client Securities) Rules, as referenced in SFC Code of Conduct para 11.1. Singapore, United Arab Emirates, Bermuda and Guernsey: Not published Jersey: Investment Business (Client Assets) (Jersey) Order 2001: client property must be segregated and held on trust, and art. 22 allows a firm to lend client property only with the client's written consent. It applies to banks registered for investment business.
Custody termsUnited Kingdom, Singapore and Jersey: Not published Switzerland: Published Source Hong Kong: Published Source United Arab Emirates: Published Source Bermuda: Published Source Guernsey: Published Source
Before opening an account
Custody agreement. The applicable legal framework is set out above. Ask for the agreement that would govern your account and check how securities are titled, whether any sub-custodian is used, and when the bank may take a lien. United Kingdom, Singapore and Jersey
Trust accounts. The group describes fiduciary services. Ask whether the entity named in this profile can open the proposed trust account and which company would act as trustee, custodian and adviser. United Kingdom and Singapore
Transferring assets out. Ask which positions can be transferred without selling them, who approves exceptions, and how charges are calculated for each position and market. United Kingdom
Moving the portfolio. Use the published transfer terms as a starting point. Ask the bank to flag positions in your portfolio that would require consent, manual handling or a sale, and to quote the charges separately. Switzerland, Hong Kong, United Arab Emirates, Bermuda and Guernsey
Reporting to the family office. The bank lists a desk for external asset managers. Ask for a sample statement or data export and confirm whether it includes positions, transactions, accrued income and all currencies held. Switzerland
A portfolio-backed credit line. If you intend to borrow against the portfolio, ask for the eligibility and haircut schedule, the margin-call timetable and the charges for holding or transferring pledged securities. Hong Kong
International payments. The retail tariff shown in the review comes to USD 9 for a standard outgoing transfer. Ask whether intermediary charges and FX spreads are billed separately for the currencies you use. See published fees. Hong Kong, United Arab Emirates, Bermuda and Jersey
Closing the account. The retail tariff shown in the review comes to USD 38 as a closure charge. Ask for a separate estimate of any sale, transfer or third-party charges that would apply to your holdings. See published fees. Singapore
Relationship minimum. The published figure cited above is USD 2 million. Ask whether it applies to the proposed mandate and whether assets in related accounts, entities or currencies count toward it. United Arab Emirates
Cross-border eligibility. If a settlor, beneficiary or beneficial owner has U.S. ties, ask the named entity to confirm eligibility for your structure and which investment services it can provide. Bermuda and Guernsey
Exit costs. The fee comparison shows USD 20 per position for a securities transfer. Ask what rate would apply to your mandate and whether the receiving bank or a sub-custodian would charge separately. See published fees. Guernsey
Account eligibility. Ask for the opening and ongoing minimum for the service you need, and confirm whether the bank measures it per account, per legal entity or across the family relationship. Jersey
Your experience
Rate HSBC
If you bank with HSBC in any of its booking centres, or advise clients who do, your experience forms part of its PPLI.com rating. Please say which centre you deal with. Every response is read by the editor and treated in strict confidence.
Before we publish a significant negative finding that is not already public, we give the bank the facts and time to comment, on the same timetable for every bank. Decisions of regulators and courts are shown as they were published. Corrections we verify are published with the date of the change. Write to [email protected] quoting the reference of the booking centre concerned: United Kingdom BK-GB-HSBC-PRIVATE-UK-89898A; Switzerland BK-CH-HSBC-SUISSE-085CEB; Hong Kong BK-HK-HSBC-298014; Singapore BK-SG-HSBC-SINGAPORE-6BFF16; United Arab Emirates BK-AE-HSBC-MIDDLE-EAST-3D9B6B; Bermuda BK-BM-HSBC-BERMUDA-4B18F4; Guernsey BK-GG-HSBC-GUERNSEY-77FB3D; Jersey BK-JE-HSBC-JERSEY-DD1DAD.
Reviewing this file with us
Families and their advisers read this file before they open an account. It can only be as complete as the documents we can find, and much of what sets a private bank apart, from its custody terms to the way a client team works, is rarely published.
If you represent HSBC, one of our Bank Intelligence analysts can go through the file with you: correct anything that is out of date, add terms and documents that are not yet public, and set out what has improved since our last edition. The review is a paid engagement for the analyst's time and research.
The rating itself stays with our editor and follows what the documents show, so we cannot promise a particular result. When a review changes the file, this page notes that the bank took part, with the date and what was added.
Brought together by the PPLI.com research desk from the files of its booking centres and the public sources listed. The rating is our editorial opinion; read how the overall rating is built.
Important information. Editorial opinion of PPLI.com on the date shown, based on public information, client experience and editorial judgment. Not a statement of fact, a credit rating or investment, legal, tax or financial advice; verify with the bank and your own advisers before acting. No liability is accepted for reliance on this content. Bank names and logos are used for identification only. Ratings are updated every quarter. This is the Q4 2026 edition, and a rating can change between editions if something material happens. Full disclaimer
Rating signed by Noam Cohen, Editor, Bank IntelligenceReviewed 6 November 2026Methodology 2.4Overall rating weighted by UHNW client ratings
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