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HSBC Youth Savings Account

Grow your savings with daily interest and zero transaction fees.

Start small and let the interest do the work

Save Your Way

  • Earn daily interest from the first dollar, paid monthly

  • No transaction fees
  • Unlimited withdrawals & debits
  • Rebates on ATM surcharges you pay at other bank ATMs in Canada1

Bank Your Way

  • Free INTERAC e-Transfer®

  • Free withdrawals from your account at HSBC Bank Canada or EXCHANGE® Network ATMs
  • Free mobile cheque deposit
  • Secure Mobile & Online banking

Start building a financially secure future

  • Help children develop good saving habits early in life with their own bank account.

  • Grow savings faster with the power of compounding interest

Who can apply

The HSBC Youth Savings Account2 is available to

  • Canadian residents (Canada residential address), and

  • Up to 19 years of age (28 for Premier Youth)

What you’ll need on hand to apply

  • Your current email address and telephone number

  • Primary addresses you've lived at for the last 3 years
  • Primary ID:  Including original, valid government issued photo identification
  • Secondary ID:  Including original, valid ABM card, Credit Card, College/University Student ID or CNIB Card bearing photo and signature
  • Tax residency information including SIN/SSN/TIN (if available)

Open an account

Ready to open an HSBC Youth Savings Account? Get in touch with us to get started.

1 Other banks, including foreign HSBC entities, may charge additional ATM surcharges.

2 The HSBC Youth Savings Account is only available to you until you turn 19, unless you qualify for the Premier benefit.

HSBC Premier Benefit: This account is available for youths under 28 years of age if at the time of account opening, the parent/guardian of the youth is an HSBC Premier customer.

When you turn 19 or 28 for Premier children/dependents, we will notify you and invite you to convert the Youth Savings Account into the right bank account to meet your needs. If you do not take action, the Youth Savings Account will automatically convert to the High Rate Savings Account (see Personal Service Charge Fee Disclosure for details about account fees) on the day you turn 19 or 28 for Premier children/dependents.

The age restriction and the automatic conversion do not apply to accounts opened as Premier Youth Savings accounts prior to November 2019.

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