Managing Your Business

Clients Deposit Account

Enquire about a Clients Deposit Account

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Safeguard your clients’ deposits or funds in a separate or pooled account.

At a glance

Designed for regulated professionals to hold clients' money
The more that’s in your account, the more interest you earn. Interest paid monthly
Optional cheque book and paying in book facilities
No monthly fees, but transaction fees are applicable. Please see the Business Price List for more information
Instant access to clients' money
HSBC current account not required

Key Benefits

SUMMARY BOX

Account Name: Clients Deposit Account

What is the interest rate?

The applicable credit interest rates are as follows:


Product	Term	Amount	Rates effective until 27 January 2025		Rates effective from 28 January 2025
Product	Term	Amount	Gross%	AER%	Gross%	AER%
Clients Deposit Account	Half yearly interest	Up to £25,000	1.80	1.81	1.68	1.69
		£25,000+	1.80	1.81	1.68	1.69
		£50,000+	1.80	1.81	1.68	1.69
		£100,000+	1.81	1.82	1.69	1.70
		£250,000+	1.81	1.82	1.69	1.70
		£1m+	1.82	1.83	1.70	1.71

Credit interest is calculated on a daily basis and paid half yearly.

Can the Bank change the interest rate?

Yes, the Bank can change the interest rates at any time in line with the Business Banking Terms and Conditions.

Favourable changes

We’ll make the change immediately.

Unfavourable changes

Business Banking customers – We’ll let you know at least two months before we make the change.
Corporate Business Customers: We’ll make the change immediately, and tell you about it once the change has been made.

What would the estimated balance be after 12 months based on a range of deposits?

Example 1 – Single deposit, no withdrawals

For the purpose of this calculation it is assumed:

Initial deposit of £1,000
No additional deposits
No withdrawals
No change to the interest rates during the 12 months
Interest is paid half yearly


Initial deposit	Interest rate	Total balance at the end of 12 months
£1,000	1.69% AER (1.68% Gross)	£1,016.87

Example 2 – Larger deposits

If you deposit enough, you can earn more. Based on you paying in the following deposits on day 1 and making no withdrawals or additional deposits, your estimated balance after 12 months would be as follows (but if you make withdrawals, the interest rate you earn goes down):


Amount deposited	Amount after 12 months
£25,000	£25,421.76
£50,000	£50,843.53
£100,000	£101,697.14
£250,000	£254,242.85
£1,000,000	£1,017,072.25

Additional Information

Eligibility:

Small Business Banking and Business Banking Customers

This account must only be used to hold money on behalf of your clients not to make payments for your own business. You are responsible for carrying out due diligence on your clients that might be necessary to comply with all relevant laws and regulations.

Definitions:

AER stands for annual equivalent rate. A notional rate which illustrates what the gross rate would be if interest was paid and compounded each year
Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.
Small Business Banking customers are typically small enterprises (including not-for-profits) with borrowing needs of up to £100k. Their everyday transactional banking products and needs wouldn’t require the support of a Relationship Manager.
Business Banking customers are typically small and medium sized enterprises (including not-for-profits) with product needs that require support through a dedicated Relationship Manager, who work alongside our specialist teams. Our Relationship Managers can provide transactional banking and funding solutions of over £100k (both domestically and internationally).
Corporate Banking customers are any business customer whose accounts are held with us in the Channel Islands or Isle of Man.

Important information

Before applying, please read the following documents carefully, including the 'Your Information' section in the Business Banking Terms and Conditions.

Apply for our Clients Deposit Account

Are you an existing HSBC business customer?

Please fill out the enquiry form and a member of our team will be in touch.

Are you new to HSBC?

Please fill out the account opening form and a member of our team will be in touch.