Rates accurate as at: March 19th, 2024
Best banking and payments innovation finalist
A solid effort from HSBC, placing as a finalist in Best Banking and Payments Innovation category. HSBC’s pursuit for excellence and creativity has garnered the attention of the tech industry.
Full list of 2023 winners
Quick facts about HSBC
- HSBC is one of the largest banking and financial services institutions in the world
- HSBC is headquartered in London, where it's the second largest bank in the United Kingdom.
- HSBC is an international bank that operates in more than 70 countries with more than 51 million customers
- HSBC has a variety of banking products in Australia including a savings account, term deposit and multi-currency bank account
Accounts offered by HSBC
You can see a full list of accounts offered by HSBC in the table above, however here's a snapshot of some of the most popular ones.
HSBC Everyday Global Account
The HSBC Everyday Global Account is an everyday transaction account, multi-currency account and travel debit card all in one. You can use it in Australia to deposit your salary, pay bills and make daily purchases like a regular bank account. Or take it with you when travelling and hold up to 10 currencies, plus pay no international transaction fees, no account-keeping fees and no international ATM fees. You can also earn cashback on contactless purchases, which is a rare offer for Australian bank accounts.
Read our full review of the HSBC Everyday Global Account.
HSBC Bonus Savings Account
This savings account lets you earn interest while also offering easy access to your money, making it a flexible option if you need to dip into your savings regularly.
Read our full review of the HSBC Bonus Savings Account.
HSBC Everyday Savings
This savings account offers bonus interest for the first few months without any deposit conditions to meet. this account doesn't pay interest in the months that you make a withdrawal, so it could be good option if you're happy to leave your savings untouched.
Read our full review of the HSBC Everyday Savings Account.
Different ways to bank with HSBC
HSBC offers many different ways to do your banking.
HSBC bank branches and ATMs
HSBC has roughly 30 branches in Australia, and a global ATM network of more than 10,000 ATMs. HSBC customers can access all HSBC, Westpac, NAB, ANZ and CommBank ATMs in Australia without paying a withdrawal fee. Most of HSBC's branches are located in capital cities.
Bank@Post
If you need to deposit cash into your account, you can do this at a participating Australia Post shop using Bank@Post.
HSBC Internet and mobile banking
You can use the HSBCnet Internet Banking or the HSBCnet mobile app 24/7 to do a range of day-to-day banking. You can make transfer between accounts, transfer to external accounts and pay bills, view and download statements and open new HSBC Bank products. You can also make international transactions online, and convert currencies in your Everyday Global Account.
Contactless payment options
HSBC offers Apple Pay, Google Pay and Samsung Pay to customers with a HSBC debit card.
What are the pros and cons of banking with HSBC?
Pros
- Foreign currency accounts. HSBC offers accounts that allow you to hold multiple currencies, and send and receive money in those currencies internationally.
- Global presence. HSBC is a large global bank with ATMs and branches in 70+ countries around the world. This could come in handy if you travel a lot for leisure or business.
- Cashback offers. HSBC is one of only a few banks in Australia to offer customers cashback on purchases using a HSBC debit card.
Cons
- Limited branches in Australia. While HSBC has a good global presence, it has a considerably lesser number of branches in Australia when compared to some of the other big banks.
- Low savings rates. The interest rates offered of HSBC's savings accounts are less competitive compared to others in the market.
How to apply for a HSBC account online
You can apply for a new HSBC account online in less than 10 minutes. Just make sure you meet the eligibility criteria and have the necessary documents handy before you start your application.
Eligibility
- You're over 18 years old
- You're an Australian resident for tax purposes
- You have an Australian phone number and residential address
Documentation
- Personal details like your name, date of birth, residential address, phone number and email address
- ID documents such as your driver's licence, Medicare card, passport or proof-of-age card
Are you looking for another HSBC product instead?
If you haven't found what you're looking for yet, you can compare a wide range of additional savings accounts and bank accounts from other providers with Finder.