HSBC Business Select Packages (BSP)

HSBC’s Business Select Packages offer hassle-free banking solutions tailored for businesses, featuring three types of accounts: Standard Corporate Account, BSP Basic Account, and BSP Premium Account.

HSBC BSP Basic Account Features:

• Low Minimum Account Balance: Maintain flexibility with a low minimum balance requirement for all Current Accounts.
• Preferential Forex Rates: Enjoy favorable rates on foreign exchange transactions in USD, GBP, EUR, or JPY.
• Multi-Currency Availability: Available in AED and other major foreign currencies.
• Free Transactions: No charges for cash and cheque transactions via business HSBC ATMs and cash/cheque deposit machines.
• Complimentary Phone Banking: Convenient banking services at the touch of a button.
• Extended Hours Banking: Access Business Customer Service Centres with extended banking hours across the UAE.

Additional Features:

• Unlimited Cheque Transactions:
  • Cheque Deposit Machine
  • Inward Clearing Cheques
  • House Cheques
• Cheque Transaction Limit: 10 credits over the branch counter.
• Free Cash Transactions:
  • Cash Deposit Machine/ATM Withdrawals
  • 10 credits and 10 debits over the branch counter.
• Transaction Charges:
  • Free for Deposit Machine/ATM Withdrawals.
  • AED 20 for transactions exceeding the threshold over the branch counter.
• Business Telephone Banking: Free subscription and maintenance.
• Transfer Fees:
  • AED 90 for manual outward foreign currency transfers (FCY TT).
  • AED 65 for manual outward local transfers.
  • AED 30 for electronic outward FCY/local transfers.
  • AED 10 for inward SWIFT transfers not involving FX conversion.
• Monthly Fee: AED 300 monthly maintenance fee, with an additional AED 100 fee if the balance is not maintained.
• Currency Types: Accounts available in USD, GBP, EUR, or JPY.
• Minimum Balance: AED 5,000 (or equivalent) per account at the relationship level.

Preferential Forex Margins:

• GBP (Buy/Sell): 0.0210/0.0213
• EUR (Buy/Sell): 0.0130/0.0133
• JPY (Buy/Sell): 0.00011/0.00014
• USD (Buy/Sell): 0.0160/0.0165

With the HSBC BSP Basic Account, businesses can enjoy efficient and cost-effective banking tailored to their needs.