HSBC international student account: Full review

Want to open an international student account in the UK? HSBC could be a good bank to go with. With no monthly account fees and other useful features, the HSBC international student account can help you manage your money while you’re studying in the country.

In this guide, we’ll explore the features and fees of this account, including the charges for using your card outside the UK and how to open an account as an international student.

Still undecided? The Wise multi currency account might be a good alternative. Spend, send and receive in 40+ currencies with no hidden fees and set up your transfer to pay tuition fees online or directly in the Wise app.

There’s even a Wise card, for spending in 150+ currencies for any purchases, either in-store or online.

But for now, let’s delve into what HSBC is offering.

HSBC international student account: Overview

In a rush? Below is a quick overview of the HSBC international student account:¹

• No monthly account fees
• Manage your money through the HSBC mobile app, on a computer, by telephone or in-branch
• Access the full range of HSBC savings accounts, including some only available to HSBC customers
• Need a UK proof of address to open an account
• Exclusive offers from HSBC’s accommodation partners and discounts with the bank’s home&Away offers programme
• Set up your account online or at a UK branch
• £25 interest-free buffer, then 39.9% EAR (variable) on anything above
• 2.75% fee for making a debit card payment abroad in a foreign currency and a 2% charge for international ATM withdrawals
• No access to HSBC credit cards, loans or mortgages

Is HSBC a good bank for international students?

Many features of the HSBC international student account make it a good choice for anyone studying abroad in the UK, in particular, the account’s exclusive accommodation offers for student rental properties in London and other major UK cities.² There’s more information on this further in our review.

However, a 2.75% fee for using your card outside the UK could be a drawback for international students who go home during the holidays.¹ Not to mention, you need a proof of UK address to open an account. If you don't know your permanent address or have proof of your address, HSBC recommends heading into a branch in-person.

Fees and features of the HSBC international student account

Wondering if the HSBC international student account is the best expat account out there? Here’s everything you need to know before signing up.

What do you need to open an account?

To open this student account, you need to meet the following criteria:³

• Be 18 years or older
• Have valid ID and proof of address

It’s easiest to apply online in the UK, but you can also open an account by visiting a HSBC branch in person. You can also open a HSBC international student account online from a number of locations abroad before you arrive in the country.⁴

How much are international transfer fees?

There are several HSBC international transfer fees worth considering when opening this bank account, especially if you regularly travel back home.

If you use your HSBC Visa debit card outside the UK to make a payment in a foreign currency, you’ll be charged a 2.75% fee.¹ There’s also a 2% fee for withdrawing money from an ATM in foreign currency or from cash machines outside the UK.

If you don’t pay in the local currency, your transaction will be converted into GBP using the exchange rate set by Visa.

Main features of the account

The HSBC international student account offers a variety of features for managing your money while studying abroad in the UK, including no monthly account fees and the ability to check your balance, make payments and access online support via the HSBC mobile banking app.¹

You can also use the app to see your spending insights and set monthly budgets, as well as use digital tools to calculate your disposable income after paying rent, bills and other essentials.

When you open an account, you’ll get access to a full range of HSBC savings accounts – including some only available to HSBC current account customers. This can be useful if you’re planning on saving while you study.

You can also take advantage of exclusive offers from HSBC’s accommodation partners. For example, CBRE supports international students in the UK looking for somewhere to live through discounts on rent and flexible tenancy arrangements.² Note, these offers are for qualifying HSBC customers only and are subject to availability.

Pros and cons of the HSBC international student account

Every bank account comes with its own advantages and disadvantages. To help you make your decision, we’ve listed the pros and cons for this HSBC student account in the table below.

Need an alternative to the HSBC international student account?

Even though you can sign up in the UK or abroad for this HSBC student account, you may not be eligible for some of the account features if you remain resident outside the UK.⁵

With an alternative money services provider like Wise, you can continue to access account features from wherever you are in the world – whether that’s no hidden fees for sending overseas payment or two free international ATM withdrawals every month.

Discover how a Wise multi-currency account can help you manage your money while studying in the UK today. Open an account before you travel and make the most of low, transparent fees* when spending, sending or receiving money overseas.

Open your Wise account 🌍

Sources used in this article:

1. HSBC - features of the international student account
2. HSBC - exclusive accommodation offers
3. HSBC - account eligibility criteria
4. HSBC - how to open an account
5. HSBC - access to features when resident outside the UK

Sources last checked: 14th March 2025