HSBC E-Saver Account

While the account doesn't offer a debit card or chequebook, it supports easy fund transfers and withdrawals through HSBC's online and mobile banking platforms.

Say goodbye to fees and minimum balance hassles — the HSBC E-Saver account is a digital savings solution designed for convenience and flexibility!

HSBC E-Saver Account Benefits

The key HSBC E-Saver account benefits are as follows:

✔️Operate the bank account via internet and mobile banking

✔️No need to maintain a minimum balance to keep the account active

✔️Open an account at fixed interest rates, that is, starting from 3% per annum

✔️The interest is calculated on a daily cleared closing balance

✔️Make international money transfers through online means

Know Your Eligibility to Open an HSBC E-Saver Account

• Minimum Age- 21 Years
• Nationality- UAE National or UAE Resident

Which Documents to Submit for Opening an HSBC E-Saver Bank Account

Open an E-saver account with a few documents listed below:

✅Emirates ID

✅Passport

✅UAE Residence Visa (for non-GCC Nationals)

✅UAE Residence Proof- Utility Bill/ Rental/ Lease Agreement/ Title Deed & Employment Letter 

Note:

📝All documents must be valid

📝Present the originals of each document

📝You are not required to submit any document if you already have an account with HSBC

How to Open an HSBC E-Saver Bank Account?

Opening an HSBC account is a straightforward process, and you can choose to do it via online and offline channels. Here is how you can do it:

Via Paisabazaar.ae

STEP 1: Directly view the lead form here and complete it.

STEP 2: Submit the form to go to the quotes page.

STEP 3: Locate the HSBC E-Saver account.

STEP 4: Apply and follow the prompts displayed on the screen. 

Via Internet Banking

Visit the official website of HSBC and open the HSBC E-Saver account. Keep scrolling and click on the ‘Apply Now’ button. Complete the process as per the on-screen displayed instructions. 

Via Visiting the Bank Branch

Go to your nearest bank branch to open an account offline. Make sure to carry all the necessary documents for smooth processing.

HSBC E-Saver Account- Fees and Charges

A list of major fees and charges of the HSBC E-Saver bank account is tabled below:

Type of Fees	Charges
Monthly Service Fee (If eligibility is not met)	AED 26.25
Relationship Fee	NA
Account Closure Fee (If closed within 6 months of account opening)	AED 105
Penalty for Insufficient Funds for Standing Orders	AED 26.25
Account Balance Letter	AED 52.5
No Liability Certificate	AED 52.5
Liability Letter Issued to Financial Institutions	AED 52.5
Account Statement (outside the agreed cycle)	No fees

HSBC E-Saver Account- Terms and Conditions

Given are the terms and conditions of the E-Saver account by HSBC. Refer to the bank’s website for detailed T&C.

1- If you accidentally send money to the wrong account, the bank might not be able to get it back. If the bank authorities try to recover these funds, you may need to pay any costs involved.​

2- Disputing Transactions

If you think a transaction on your account is incorrect, notify the bank immediately. HSBC will look into it and, depending on what they find. The bank might:​

• Agree with you and return the disputed amount to your account or card.​
• Disagree and charge your account or card for any fees, interest, or losses from our investigation.​

3- Reporting Errors

If you notice any discrepancies or  mistakes, it is crucial to notify the ban as soon as possible. Delaying might mean the bank can't recover the money. If the error was clear when the transaction happened, HSBC assume you noticed it at that time.​

4- HSBC’s Responsibility

HSBC is not liable for any losses you experience due to actions they take to fix a problem.​

5- Using Third Parties for Payments

Sometimes, the bank uses other companies to process payments. Neither HSBC nor these companies are responsible for any loss, delay, mistake, or omission due to communication or system issues during your payments or transfers unless it’s the bank’s fault.

6- Cancelling Payments

• Immediate Payments: Once you request an immediate payment, you can't cancel it.​
• Scheduled or Recurring Payments: You can ask the bank to cancel these if you notify them at least one working day before they're due. Note that a working day starts according to UAE time.​

7- Cooling-Off Period

Since payments are processed right away, the bank asks you to give up your right to a cooling-off period each time you make a payment. If you don't agree to this, HSBC can't carry out your payment instructions.

Frequently Asked Questions