Hsbc customers warned 'review' bank accounts ahead of huge change next month

THERE WILL BE CHANGES TO EIGHT ACCOUNTS WITHIN THE COMING WEEKS 20:06, 21 May 2025 HSBC customers are being reminded they should 'review' their savings before a huge change next

month. The bank will cut interest rates across eight of its popular saving accounts from June. The move means that savers will make less money on their cash. READ MORE: NATIONWIDE ISSUES

IMPORTANT ADVICE AND TELLS CUSTOMERS 'DO THIS IMMEDIATELY' It comes after the Bank of England slashed its base rate from 4.5 to 4.25 per cent earlier this month. The Bank of

England's base rate is used to charge other banks and lenders when they borrow money. Article continues below This means it can affect mortgage and savings rates. HSBC will slash rates

on some of its savings accounts from June 3. This will include its Help to Buy ISA and its Loyalty Cash ISA. From July 21, the high street bank will cut rates on further accounts including

its Online Bonus Saver, Flexible Saver. A HSBC spokesperson said it was 'firmly focused' on supporting its banking customers with their savings. They said: "We provide overall

value on our savings accounts that goes beyond interest rates to provide flexibility, convenience, simplicity and organisational and financial stability for customers who want to save with

a trusted high street brand. _DON'T MISS THE BIGGEST AND BREAKING STORIES BY SIGNING UP TO THE BIRMINGHAMLIVE NEWSLETTER HERE._ "There are several factors taken into account when

setting savings rates. "We have designed our savings accounts to make it easy for our customers to start and maintain a savings habit so they can save towards longer term goals."

HSBC said it 'proactively' reminded customers of the need to 'review' their accounts and would advise them on what products are best suited for them. FULL LIST OF HSBC

SAVINGS ACCOUNTS CHANGES Online Bonus Saver (balances between £1 and £50,000) - Going from 4.00% to 3.75% Online Bonus Saver (balances over £50,000) - Going from 1.50% to 1.30% Flexible

Saver - Going from 1.35% to 1.30% HSBC Premier Savings (balances below £50,000) - Going from 1.50% to 1.35% HSBC Premier Savings (balances between £50,000 and £100,000) - Going from 1.60% to

1.45% HSBC Loyalty Cash ISA (loyalty Premier rate) - Going from 2.75% to 2.50% HSBC Loyalty Cash ISA (standard Premier rate) - Going from 2.15% to 2.10% HSBC Loyalty Cash ISA (loyalty

non-Premier rate) - Going from 2.35% to 2.30% HSBC Loyalty Cash ISA (standard non-Premier rate) - Going from 2.15% to 2.10% MySavings (balances up to £3,000) - Going from 5.00% to 4.50%

MySavings (balances over £3,000)- Going from 1.50% to 1.35% HSBC Premier MySavings (balances up to £3,000) - Going from 5.00% to 4.50% HSBC Premier MySavings (balances over £3,000) - Going

from 1.50% to 1.35% Future Saver for children - Going from 1.50% to 1.35% Article continues below Help to Buy: ISA (balances over £12,000) - Going from 1.35% to 1.30%