Revolut vs HSBC: which is best in 2026?

HSBC is one of the world's largest banks — serving around 41 million customers across 56 markets, an unmatched global network, and a reputation built over 150 years. For many UK customers, especially those with international connections, it's been the default choice for managing money across borders.

Today, Revolut is a UK bank and fintech app used by over 75 million people. We’ve built a platform that puts spending, saving, investing, and global transfers all in one place, giving you total control over your entire financial life without switching apps.

So how do these 2 options compare for everyday UK banking in 2026? This guide covers every fee, feature, and trade-off.

This comparison is based on publicly available information published by HSBC as of 11 June 2026.

You should visit their websites for confirmation of their most updated costs and charges.

Revolut vs HSBC: a comparison at a glance

The table below shows a side-by-side comparison of Revolut vs HSBC.

¹Exchange and global transfer fees, fair usage limits, and T&Cs apply.

²Interest rates are accurate as of 11 June 2026 and may not reflect future interest rates. Please refer to Revolut for the most up-to-date information. The Annual Equivalent Rate (AER) shows the interest you can earn over 1 year. AER is compounded, so you’ll earn interest on interest already earned. A lower rate might apply depending on balance. Interest is liable to applicable taxes. Paid plan fees and T&Cs apply.

³eSIM T&Cs and fees apply, subject to fair-usage policy. eSIM services are provided by 1Global. Revolut acts for 1Global, the service provider

⁴Airport Lounge T&Cs apply.

Monthly fees and account plans

The biggest difference between Revolut and HSBC is the way in which you earn your benefits. Revolut has a feature-led subscription model where you pay for the benefits you want. HSBC uses a traditional eligibility model where your account tier is often determined by your income or savings.

Revolut

Choose from 5 clear tiers. You can start for free and upgrade whenever you want more from your money.

• Standard (£0/month): the core experience. Includes multi-currency accounts, 2.90% AER (variable) savings, and one commission-free trade per month.
• Plus (£3.99/month): adds lifestyle protection, including theft and accident coverage for everyday purchases.
• Premium (£7.99/month): unlimited weekday currency exchange, global medical insurance, and higher ATM limits. Savings interest increased to 3.25% AER (variable).
• Metal (£14.99/month): our iconic steel card, 3.40% AER (variable) on savings, and 10 commission-free trades per month.
• Ultra (£55/month): the ultimate membership. Includes 4.00% AER (variable) on balances up to £200,000, unlimited airport lounge access, and top-tier subscriptions like Financial Times or WeWork.
  
  If you're a parent, a founder, or a freelancer, you can also open a Kids & Teens, Business, or Pro account.

Subscription fees and Paid Plan Terms apply.

HSBC

HSBC accounts are grouped by requirements. If you don't meet the financial threshold, you generally can't access the higher tiers.

• HSBC Bank Account (£0/month): open to almost any UK resident. Basic banking without a minimum monthly pay-in.
• HSBC Advance (£0/month): you must qualify for at least a £1,000 arranged overdraft. You can access exclusive customer-only products like Regular Saver and the Global Money Account.
• HSBC Premier (£0/month): to qualify, you need a £100,000+ individual annual income, or at least £100,000 in savings held with HSBC UK. You can send fee-free international transfers between your HSBC accounts, get improved terms on mortgages, loans, credit cards, and savings for you and your family, and access the HSBC Financial Advice service.

Currency exchange fees and spending abroad

Revolut

Revolut converts spending with the Revolut exchange rate on weekdays. A 0.5–1% weekend surcharge applies on the Standard plan (none on Premium, Metal, or Ultra).

You can make a certain amount of withdrawals each rolling month without withdrawal fees charged by us:

• Standard: £200 (or 5 withdrawals)
• Premium: £400
• Metal: £800
• Ultra: £2,000

If you exceed these limits, we charge a 2% fee on the withdrawal, with a minimum fee of £1. Third-party ATM fee may apply.

Exchange and global transfer fees, fair usage limits, and T&Cs apply.

HSBC

For standard HSBC Bank Account debit card holders, a 2.75% non-sterling transaction fee applies on all foreign currency card purchases. For ATM withdrawals abroad, an additional 2% cash fee applies (minimum £1.75, maximum £5) per withdrawal.

HSBC's Global Money Account is a separate account that removes both the currency exchange fee and the ATM cash fee when spending abroad. It lets you hold up to 18 currencies, spend with no HSBC fees, and send money internationally with no HSBC or intermediary fees. You'll need an active HSBC UK current account to apply.

Savings and interest rates

To access HSBC's highest easy-access rate (3.35% AER (variable) bonus rate), you can't make any withdrawals in a given month, which may not be optimal for most people. Alternatively, you can opt for the Flexible Saver, and access 1.05% AER (variable) with no conditions.

In contrast, Revolut Standard pays 2.90% AER (variable) daily with no withdrawal limits, and no minimum balance.

Revolut

With a Revolut Instant Access Savings (powered by ClearBank) account, your interest is paid daily. These are the variable rates as of June 2026:

• Standard: 2.90% AER (variable)
• Plus: 2.90% AER (variable)
• Premium: 3.25% AER (variable)
• Metal: 3.40% AER (variable)
• Ultra: 4.00% AER (variable) on balances up to £200,000; and 3.51% AER (variable) for balances above £200,000

Paid plan fees and T&Cs apply.

HSBC

• HSBC Flexible Saver: 1.05% AER (variable), instant access, and available to all HSBC customers.
• HSBC Online Bonus Savings Account: up to 3.35% AER (variable) in months where no withdrawal is made, dropping to 1.05% AER (variable) in months where you make one or more withdrawals. Instant access, online only, and available for existing HSBC customers.
• HSBC Regular Savings Account: 5.00% AER fixed rate for 12 months on monthly deposits of £25–250. Available to HSBC current account holders (excluding certain account types). No instant access. Restrictions apply.

International transfers

Revolut

Revolut lets you send money in 38 currencies at the competitive Revolut exchange rate with no added fees on weekdays. SEPA transfers are free, and if you’re on an Ultra plan, you get 100% off international transfer fees.

HSBC

Sending money with HSBC online will cost you £5 per transfer (unless it’s a SEPA transfer or a payment to another HSBC account). They also use their own exchange rates, which can include a markup over the mid-market rate.

Budgeting and money management

Revolut

Real-time spending notifications, automatic spend categorisation, Pockets (sub-accounts for specific goals), and monthly analytics by merchant and category — all available on the free Standard plan.

HSBC

HSBC's mobile app provides transaction history, spending summaries, and a savings goal feature. It functions well for day-to-day account management, but lacks the granular analytics, multi-pocket structure, and real-time category breakdowns that Revolut offers.

Trust, security, and customer support

Both banks are covered by the Financial Services Compensation Scheme (FSCS). Customer deposits are protected up to £120,000 per person, per institution.

We both offer 24/7 digital support, but HSBC offers phone support, with the added option of face-to-face assistance at any of their UK branches.

Revolut vs HSBC: which should you choose?

When comparing these providers side-by-side, the right choice ultimately depends on your individual financial needs. Both HSBC and Revolut offer robust tools for everyday money management, but their standout features cater to different lifestyles.

If you're looking for a traditional banking relationship, need a mortgage, or are a Premier customer who needs to move money between global HSBC branches, HSBC provides an established infrastructure.

However, if you want an account heavily geared toward international travel and broad financial services — like built-in eSIMs³, multi-currency holding, and rewards programs like RevPoints⁵ — Revolut is designed to bring those global tools together in one app.

³eSIM T&Cs and fees apply, subject to fair-usage policy. eSIM services are provided by 1Global. Revolut acts for 1Global, the service provider.

⁵RevPoints T&Cs apply.

How to open your Revolut account

You can open your account in just a few steps — all from your phone.

1. Download the app: get the Revolut app from the App Store or Google Play, or enter your mobile number to receive a link to the app.
2. Verify your mobile number: you’ll receive a 6-digit code by SMS to verify.
3. Secure your account: set a secure 4-digit passcode.
4. Fill in your details: enter your name, date of birth, address, email, and country of residence. You’ll also set up your @revtag to send and receive payments easily.
5. Verify your identity: take a clear photo of your ID (passport or driving licence) and a quick selfie in-app to confirm it’s you.
6. Choose your plan: start on Standard (free) or pick from one of our paid plans for added benefits. Change your plan any time in-app.
7. Add money (optional): you can top up right away by linking a debit card or bank account, or do it later.

18+, T&Cs apply

Sources

• HSBC: Compare current accounts
• HSBC: Global Money
• HSBC: Flexible Saver Account
• HSBC: International payments
• HSBC: Mobile money management
• HSBC: Protecting your money
• HSBC: Explore our savings accounts

This comparison is based on publicly available information published by HSBC as of 11 June 2026 and is aimed at customers in the UK.

You should visit their websites for confirmation of their most updated costs and charges.

Please note that actual charges and services offered may change and vary depending on individual circumstances. For the most accurate and up-to-date information, we recommend visiting each provider’s official website.

This article and the information provided herein are not intended to constitute advice.