How To Open HSBC Bank Account In South Africa

The Hongkong and Shanghai Banking Corporation Limited

HSBC has developed a number of traditions over its years in business and employed people who would later find fame in other fields.

The bank’s name is derived from the initials of The Hongkong and Shanghai Banking Corporation Limited, the founding member of HSBC.

About HSBC in South Africa

The HSBC Group established a presence in sub-Saharan Africa in 1981 and entered the South African market in 1995. HSBC South Africa is a branch of HSBC Bank plc (incorporated in the United Kingdom).

Today, HSBC South Africa’s principal activity is global banking and markets. Our commercial banking business offers services to large local and international corporates.

From our office in Johannesburg, our dedicated relationship managers, along with regional and global account managers and product experts, are able to offer specialized products and knowledge to Treasurers and Chief Finance Officers.

HSBC’s connectivity and worldwide footprint enable us to offer our corporate clients a global perspective combined with local knowledge and expertise. We can connect customers with opportunities across 90 percent of the world’s trade flows.

The office in Johannesburg does not offer personal banking services, and so cannot provide assistance to the personal customers of other HSBC entities.

How long does it take HSBC to approve a bank account?

Depending on the method of funding, your approval status, and whether we have received all necessary information, your account will be opened within two business days. We will update you by email on the process of your account opening.

Which is the biggest bank in South Africa?

Standard Bank

Standard Bank has entrenched its position as the biggest bank in the country by Tier 1 capital, widening the gap between it and its closest competitor, First Rand.

What are the disadvantages of HSBC Bank?

Cons of Banking With HSBC

There are ATM fees, which are not refundable without a high-tier checking account.

There may be ATM fees at some foreign HSBC terminals if they are operated by other banks. In comparison with other major mobile banking platforms, HSBC’s is not rated as highly.