HeadStart account
Designed with your children's financial future in mind, HeadStart is a comprehensive package that will help you give your children the required financial support for their journey through life.
- Available for children below the age of 18
- Higher interest rates on larger balances with no minimum balance requirements or service charges
- Regular savings option via a free transfer from the parents' account to the HeadStart Account
- Regular savings based investment options
- A fun-filled Savings day
- The Account is available in both Statement Saving and Passbook options in Bahraini Dinar
- The Account will be opened in the name of the child, care of the parent
| Banking Service Charges | |||
| Branch Banking | Advance* | Additional information | |
| Account charges | |||
| Savings accounts: | |||
| Monthly Minimum Balance | 20.000 | or equivalent amount in foreign currency | |
| Monthly Charge if below minimum Balance | 1.000 | * CBB exemptions may apply | |
| Current Accounts | |||
| Monthly Minimum Balance | 500.000 | or equivalent amount in foreign currency | |
| Monthly Charge if below minimum Balance | 8.000 | ||
| Overdrawn Current Account (Monthly) | 5.000 | ||
| Issuing Cheque Books: | |||
| Large | 5.000 | Free | |
| Fixed Deposits | |||
| Minimum Deposit Amount | 1,000.000 | or equivalent amount in foreign currency | |
| Breaking prior to maturity (irrespective of tenure) | 25.000 | This charge will be waived if the fixed deposit is being broken for the purpose of investing the entire amount with HSBC Financial Planning Services Products | |
| Other Charges | |||
| Branch Banking | Advance* | Additional information | |
| Standing Order | |||
| Internal Transfer | No Charge | ||
| External Transfer | Refer to Wire Transfer charges | ||
| Set-up | 3.000 | ||
| Amendments | 3.000 | ||
| Penalty for insufficient funds | 10.000 | ||
| Copy of Account Statement - past one year | 5.000 | ||
| Copy of Account Statement - over 1 year old | 10.000 | BD10/- per year per account | |
| Copy of Transaction Documents | 10.000 | ||
| Savings Certificate Replacement | 10.000 | ||
| Balance Certificate | 10.000 | ||
| Stop Payment | 10.000 | ||
| Discharge Certificate (Non-liability Certificate) | 10.000 | ||
| Verification of Documents | 10.000 | May be done only for HSBC Group Banks | |
| Cheque Collection | |||
| Branch Banking | Advance* | Additional information | |
| Incoming Cheques | No Charge | ||
| Outgoing Cheques | No Charge | ||
| Cheque Returned by the Bank | No Charge | Cheques drawn on other banks returned unpaid | |
| Cheque Returned to the Bank | 10.000 | Cheques drawn on HSBC returned unpaid for the reason: refer to drawer/not arranged for/ represent |
|
| Special Clearing | 5.000 | per cheque | |
| Foreign Currency Cheques Sent for Collection | 10.000 | per cheque | |
| Cheques Purchased | BD 10/- for postage, commission - 0.2% of the cheque amount, minimum BHD5/- max 200/- | ||
| FCY Inward Remittances | 0.2% | Minimum BHD 5/- Max BHD 200/- | |
| Cash Withdrawal Charges | |||
| Branch Banking | Advance* | Additional information | |
| Over the Counter withdrawal belowBHD 1500/- | N/a | 3.000 | |
| Over the Counter withdrawal belowBHD 1000/- | 3.000 | N/a | per withdrawal |
| Counting coins | 5.000 | BHD 5/- regardless of the amount being counted | |
| Cash withdrawal from foreign currency accounts | 4.00% | except for USD - 1% | |
| Cash deposit into foreign currency accounts | 4.00% | except for USD - 1% | |
| Remittance Fees | |||
| Branch Banking | Advance* | Additional information | |
| Issue of Demand Draft through Cheque/Account | 7.000 | DDs will not be issued against cash or cheques over the counter |
|
| Issue of Demand Draft Against Cash | n/a | Not available | |
| Cancellation of Demand Draft | 5.000 | ||
| Collection of International Managers Cheque | 12.000 | BD5/- if drawn on HSBC Group | |
| Issue of Cashier's Order | 5.000 | ||
| Issue of Cashier's Order (against cash) | n/a | Not available | |
| Cancellation of Cashiers Order | 10.000 | ||
| Remittance (Door-to-door): (through courier) | n/a | Not available | |
| Fixed TT Charges when Overseas charges are to be debited to the account of the remitter - charges will be debited to the account the following day | for Euro transfers (BHD 1.500); for GBP transfers (BHD 1.000); for SAR transfers (SAR 20.000); for QAR transfers (QAR 50.000); for USD transfers (USD 25.000 = BHD 9.45) |
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| Payment Investigation Charges - applicable for TTs rejected for errors |
5.000 | Charge is applicable for each instance that the transfer is resubmitted | |
| Wire Transfer (Swift) | |||
| Branch Banking | Advance* | Additional information | |
| Within Kingdom of Bahrain | 5.000 | BD 3/- if made over the internet | |
| Outside Bahrain – HSBC Group Banks | 7.000 | BD 5/- if done over the internet | |
| Outside Bahrain – non-HSBC Group Banks | 8.000 | BD 6/- if done over the internet | |
| Global Transfers (Me2Me) | n/a | $7.000 | Applicable for transfers made over the internet |
| Debit Cards (Local and International) | |||
| Branch Banking | Advance* | Additional information | |
| Initial | No Charge | ||
| Replacement | 5.000 | ||
| Cash Withdrawal & Balance Inquiry | |||
| HSBC ATMs in Bahrain | No Charge | ||
| Other Bank's ATMs in Bahrain | 0.200 | ||
| HSBC ATMs outside Bahrain | 1.000 | Applicable exchange rate | |
| Non-HSBC ATMs outside Bahrain | 2.000 | Applicable exchange rate | |
| Reissue ATM PIN Code | 5.000 | ||
| Balance Inquiry | Same charges apply as with cash withdrawal | ||
| Rejected claims for ATM disputes | 10.000 | ||
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