How much you can take out will depend on the type of account you have
Brits banking with HSBC are reminded that there is a limit on how much cash they can withdraw at a time. The amount you can take out depends on the type of account you have.
More than 15 million Brits bank with HSBC. On its website, the bank explains the rules for using cash machines.
If you have a debit card, you will be charged no transaction fee. But the amount you can take out will vary.
On its website, it said: “If you have a debit card, you can withdraw money from any HSBC cash machine with no transaction fee. Your daily cash withdrawal limit depends on the type of current account you hold and whether you’ve asked for the limit to be reduced.”
The standard daily limits are:
- £300 for HSBC Bank Account and HSBC Basic Bank Account
- £500 for HSBC Advance
- £1,000 for HSBC Premier and HSBC Premier (retained Jade benefits)
- £1,000 for HSBC Private Banking Account customers
- £500 for Global Money accounts
It is important to remember that HSBC charges for credit card withdrawals. It said: “Please note: we charge a cash advance fee for credit card withdrawals. Also, unlike with purchases, we charge interest on cash withdrawals with a credit card.
“This is from the date when the transaction is applied to your account until the date payment is received.” On top of this, some non-HSBC cash machines may charge you a transaction fee.
HSBC said: “This will be shown on screen when you make the withdrawal. Also, cash withdrawal limits will apply.” You can check what your nearest cashpoint is using an online cash locator tool here.
This will tell you if it’s free or if there’s a charge. You may also be able to get cashback when shopping.
“Some shops, supermarkets and other retailers offer a cashback service when you buy things with a debit card,” HSBC said. “In some shops, you don’t even need to buy anything. Just ask at the till to withdraw any amount from 1p to £50. You can get the amount in coins or notes.”
Depositing money
Aside from depositing money in-branch, you can deposit cash at HSBC cash machines. To do this, you will need your HSBC debit card.
You can also use your debit card to deposit money at the Post Office. Rules for this include:
- A limit of £3,000 cash per day at any Post Office (regardless of size or outlet)
- Coin is limited to £250, sorted by denomination in full coin bags
- Loose £1 and £2 coins below the full bag amount will be accepted
- A maximum of £20,000 cash can be deposited per calendar year (January to December)
- The clerk will give you a receipt and the cash will appear in your account immediately
You don’t need to provide your PIN or ID. You can pay in cheques using an in-branch pay-in cheque machine. To do this, you will need to complete a paying-in slip along with your sort code and account number or debit card.
You can also pay in cheques easily with the HSBC Mobile Banking app, with a limit of £2,000. You can pay in one or more cheques up to this amount per day.
But this does not include international cheques.
