31 Day Notice Account

You need strategies and solutions to help you navigate an uncharted environment. We can help.
Contact us
At HSBC Bank Canada, we understand how a business’s needs can change from day to day. Our new account may allow you to earn higher interest than similar term investment products while still offering the flexibility to access your money.

Your business needs can change from day-to-day, so you need solutions that offer the kind of flexibility that makes financial sense. Earn higher interest than other term investment products, while keeping anytime access to your money.

What is the 31 Day Notice Account?

The 31 Day Notice Account (31DNA) is a business account from HSBC Bank Canada. It allows your company to earn a high yield on a lump sum amount while offering you the flexibility to access your funds by giving 31 days’ notice. It can be held in either CAD or USD.

The 31DNA has two key components1:

  • Notice Account - the account where deposits are held until withdrawal instructions are received by HSBC. Deposits in the Notice Account earn interest at a pre-agreed rate (reference rate + spread).
  • Term Account - the account where funds withdrawn from the Notice Account are transferred to and held until maturity of the 31 days’ notice period. Deposits in the Term Account earn interest at a pre-agreed rate (reference rate + spread), which is lower than the Notice Account interest rate.

Benefits for your business

  • A higher yield relative to similar term investment products.
  • Credit interest on the balance of the Notice Account can be compounded or paid to the originating business account as it becomes due. Interest is calculated daily and paid monthly.
  • Same-day processing of deposits and withdrawal2 instructions (partial or full) to support the changing needs of your business3.
  • Interoperability with other HSBC cash management products, delivering an integrated solution for your business.
  • Additional deposits can be made at any time3.

How the 31DNA works

  • The credit interest rates for both Notice Account and Term Account are agreed upon when the 31DNA is set up and are linked to a reference rate published on HSBC’s website.
  • Deposits and withdrawals related to the 31DNA must be to or from a business account held with HSBC, under the name of the same legal company.
  • Deposits and withdrawals must be in the same currency as your business account.
  • 31 days’ notice must be given for any withdrawal of funds from the 31DNA. The notice of withdrawal can be served at any time in writing on the Bank’s Schedule1. During the 31-day notice period, the withdrawn funds will be held in the Term Account.
  • Full or partial withdrawals from the 31DNA are supported1, provided a minimum account balance is maintained.

To learn more about the 31DNA, see our brochure (PDF, 181KB).


Ready to start?



Explore our industry insights and banking capabilities in a simpler way

Need help?

Get in touch to learn more about our banking solutions and how we can help you drive your business forward.