Be covered for your lifetime.

Minimum Deposit	Interest rate	Charges	Free withdrawals	Transfer funds
Nil	1.50% p.a.	Nil	One per month	Free online

Here's what you get:

• Interest calculated daily and paid monthly
• No Minimum Account Balance
• No Account Fees
• Flexibility of One withdrawal per month without losing interest
• Added convenience through free cheque deposits using any of the conveniently located cheque deposit machines into your eSaver account

Essential Information on the eSaver account

• All you need to know about the eSaver account and how it helps you save
• The eSaver account is an online only account. It is in UAE dirhams and is available to UAE Nationals and Residents who hold valid Residence Visas
• Interest is calculated on the daily cleared closing balance and paid monthly
• To encourage regular savings, no ATM card or Cheque-book is offered with the eSaver account
• Deposits to eSaver can be done in the following ways:
  (i) electronically via Internet Banking transfers within HSBC UAE accounts
  (ii) Telegraphic Transfers wherein standard HSBC UAE charges will apply and
  (iii) cheques deposited at Cheque Deposit Machines
• Withdrawals from eSaver can be done in one of two ways:
  (i) electronically via Internet Banking transfers within HSBC UAE accounts and
  (ii) Telegraphic Transfers wherein standard HSBC UAE charges will apply

The Basics

What is an eSaver account?

The eSaver account is an innovative product offered by HSBC where we offer you high interest rates on an account that you operate exclusively online. There is no minimum balance, no monthly fees, and the account is accessible anytime, anywhere to help you make the most of your savings.

How is my interest calculated on eSaver?

Interest is calculated on the daily cleared balance and paid monthly as long as there has not been more than one withdrawal made for that month.

When do I start earning interest on my deposit?

Interest is paid on the first working day of the following month. Please note that you will receive interest on the daily cleared closing balance.

Do I get interest regardless of the number of withdrawals?

Any more than one withdrawal per month, will result in interest forfeiture for that particular month.

Where do I do my banking?

The eSaver account is an exclusively online account so you can do your banking anywhere you can access the HSBC UAE website. If you need help with your eSaver account, please call 800 6111 where we have a dedicated eSaver team trained to handle all your questions from 7 AM to 10 PM every day.

Does eSaver provide an ATM card/ chequebook?

To encourage regular savings, we do not provide an ATM card or a chequebook.

Is there a minimum balance requirement to open eSaver?

There is no minimum balance requirement to open up eSaver. All that we need is for you to activate your account by depositing at least one dirham. Please be informed that if your balance is zero for three consecutive months, your account will be closed.

Does eSaver charge a maintenance fee?

There is no maintenance fee for eSaver.

Does eSaver charge any transactional fees?

Transfers made electronically through Internet Banking to HSBC UAE accounts are free. Outgoing Telegraphic Transfers incur a charge of AED 40 for transfers within the UAE and AED 50 for transfers outside the UAE.

Is the SMS alert service offered free of charge?

Yes, we provide free SMS alerts to keep you up to date with your eSaver account. eSaver account holders who provide a valid Etisalat mobile telephone number will be automatically subscribed to this service. Default settings can be changed on Internet Banking. There are three types of messages that are sent:

• Credit notification: You will get a text message every time you credit more than a specified amount into your eSaver account
• Debit notification: You will get a text message every time you debit more than a specified amount of money out of eSaver
• Balance notification: You will get a text message when your balance is under a specified minimum balance and over a specified maximum balance

Can eSaver be held in currencies other than the UAE Dirham?

No, we currently offer eSaver only in UAE Dirhams.

Can business customers hold an eSaver account?

No, we currently offer eSaver to individual customers only.

Is eSaver a Shariah compliant (Amanah) account?

No, eSaver is a conventional savings proposition.

Account Opening

Who is eligible to open an eSaver account?

Residents of the UAE who are at least 18 years old are eligible to open an eSaver account. Non-UAE Nationals should hold a valid residence visa to open an eSaver account.

Do I need to be an existing customer with HSBC to open an eSaver account?

No, non-HSBC customers can open an eSaver account. Complete the application form to open your account real time.

How do I open an eSaver account?

• Non-HSBC UAE account holder: Open your eSaver account online in 3 quick, easy steps resulting in your eSaver account number. Print out your application form, then visit one of the branches or Customer Service Centres to activate your account. Please bring your signed application form, original passport, residence visa if applicable and your initial deposit in the form of a cheque
  For step-by-step instructions on how to open your eSaver account, please click here to view the Demo.



• HSBC UAE account holder registered for Internet Banking: If you already hold an account with HSBC UAE and have registered for Internet Banking, simply log on and click "Open New Account", which is found on the menu on the left. Under "Account Type", click "eSaver Account" then select "UAE Dirham" as the currency. Under "From", select one of your existing HSBC accounts and then under "Amount", enter the amount of money that you would like to transfer to activate your new eSaver account. You do not need to fill out the eSaver application form or visit the Branch/Customer Service Centre!
  For step-by-step instructions on how to open your eSaver account, please click here to view the Demo.



• HSBC UAE account holder not registered for Internet Banking: If you already hold an account with HSBC but have not yet signed up for Internet Banking, you will need to register for Internet Banking first to open an eSaver account. After registering, you can open an eSaver account as described for HSBC UAE account holder registered for Internet Banking. You do not need to fill out the eSaver application form or visit the Branch/Customer Service Centres!
  For step-by-step instructions on how to open your eSaver account, please click here to view the Demo.

Making Transactions

How do I make my initial deposit into eSaver?

Existing customers can transfer money through Internet Banking from any of their existing HSBC UAE accounts. New customers can make their initial deposit into eSaver by presenting a cheque at any of the branches/Customer Service Centres.

How do I deposit money into eSaver?

Deposits are to be done electronically - either through Internet Banking transfers between HSBC UAE accounts or incoming Telegraphic Transfers. Alternatively, deposits can be made by cheque at any of the HSBC Cheque Deposit Machines.

How do I withdraw money from eSaver?

Withdrawals are to be done electronically - either through Internet Banking transfers between HSBC UAE accounts or by Telegraphic Transfers. Please keep in mind that you are allowed one penalty-free withdrawal per month. If you make more than one withdrawal, you will forfeit the interest for that month.

Is there a limit to the amount of funds I can transfer to/from my eSaver account after activation?

Default limits are set on your eSaver account and can be changed on Internet Banking by clicking 'Services' followed by 'Change Internet Banking Limits'. The default limit for transferring funds between your own accounts within HSBC UAE is set at AED 1 million per day.

Internet Banking Help

I am having problems with Internet Banking. What should I do?

Call the toll free Help Desk for Internet Banking at 800 4525

How does HSBC protect my information?

We maintain strict security standards and procedures with a view to preventing unauthorized access to your data. We use leading technologies such as (but not limited to) 128 bit verisign secure socket layer data encryption, fire walls and server authentication to protect the security of your data. Access to your account and account information is protected by a password which you set.

I need more help. How do I reach a live person?

We offer dedicated telephone support for eSaver available toll free at 800 6111 between 7 AM to 10 PM every day. For technical help, we offer dedicated telephone support available at 800 4525, 24 hours a day, 7 days a week.

Sole Account

You need to complete the Savings Account opening process by personally visiting any of our Branch or Customer Service Centres, with the following documents:

• Original passport (for all customers)
• Valid residence visa (for non-GCC National customers only)
• Proof of UAE residence in the form of either a utility bill/rental agreement/employment letter (for GCC National customers only)

Joint Account

Both you and your joint applicant(s) need to complete the Savings Account opening process by personally visiting any of our Branch or Customer Service Centres, with the following documents:

• Original passport (for all customers)
• Valid residence visa (for non-GCC National customers only)
• Proof of UAE residence in the form of either a utility bill/rental agreement/employment letter (for GCC National customers only)