HSBC Day to Day Transaction Account

Last updated: Oct 2, 2020

Get $0 monthly account keeping fee with no minimum deposit

Your day-to-day banking needs can be made easier when you open a transaction account with HSBC. There's no monthly account keeping fees, and you can access thousands of ATMs for free.

Account keeping fee

ATM withdrawal fee

$4.5

Overseas ATM withdrawal fee

Overseas transaction fee

of transaction value

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Details

Product Name	HSBC Day to Day Transaction Account
Monthly account fee	$0
Card access	Visa
ATM Withdrawal Fee	$0
Internatonal ATM Fee	$4.50
International transaction fee	3%
Monthly deposit required to waive account fee	N/A

Minimum Age	18
Joint account availability	Yes
Minimum opening deposit	N/A

Pros

$0 account keeping fee
No minimum deposit required
Access to over 13,000 ATMs across the HSBC ATM network
Linked HSBC Visa debit card
Exclusive to home&away Privilege Program
Apple Pay and Google Pay available

Cons

Lack of HSBC Australia branches in Australia
Fees apply for overseas transactions

Expert review

Review by

Shirley Liu

shirley@finder.com.au

Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.

Expert review

This is a straightforward everyday bank account with no account keeping fees and easy access to your balance 24/7. There’s no ongoing account deposit conditions to meet, and no minimum balance requirement.

However, you might get more value from HSBC’s Everyday Global Account particularly if you like to travel. With the Everyday Global Account, there’s still no monthly fees and you can also hold up to 10 currencies. There’s also no international transaction fee with this account, unlike the Day 2 Day account which does charge this fee.

Key features

$0 Monthly account keeping fee

You pay no monthly fees for using the HSBC transaction account.

Linked Visa debit card

You will be issued a Visa debit card that is linked to your transaction account. This card can be used to make purchases in stores, online and over the phone, wherever Visa is regularly accepted.

Contactless payments

You can use payWave for convenient contactless purchases under $100 as well as take advantage of Visa Zero liability for protection against unauthorised purchases.

$0 Transaction fees

When you make transactions with any of the following methods, there will be no charge to your account: deposits, internet banking, EFTPOS, Bank@Post, BPAY and automated telephone banking. You can also make withdrawals or enquire about your account at 13,000+ ATMs across Australia without being charged a fee.
You can also set up recurring payments on your Visa debit card to pay bills easily.

Exclusive shopping offers

You'll get exclusive shopping offers at over 1,500 chosen retailers plus special privileges at over 27,000 outlets worldwide with HSBC's home&Away Privilege program.

Staff assisted withdrawals and transfers

If you visit a branch to conduct a transaction your account will be charged $0. Phone transactions that require the assistance of a staff member incur a charge of $2.50.

International money transfers or sending money overseas to loved ones

Transferring money overseas is a service that is offered online and costs $20 to use regardless of the amount of money being transferred.

Using your HSBC card overseas

If you withdraw cash from an overseas ATM you will be charged $4.50 per transaction plus a currency conversion state below. Additional charges may also apply stemming from the issuing financial institution.

Currency conversion fee

For transactions or withdrawals where currency must be converted, like when you shop online on a website that uses a currency other than AUD, you will be charged 3% of the Australian dollar amount for the service.

Link to a HSBC Savings account and earn a competitive interest rate

The Day to Day account is a suitable bank account to link with your HSBC Australia savings account. Compare other products from HSBC here.

How to apply

Eligibility

If you have decided that the HSBC Day to Day Transaction Account is the right one to take care of your banking needs, here's what you need to get started with an online application.

Your age. Applications from individuals aged 18 years or older are the only ones that will considered by HSBC.
Your residency. You must be an Australian resident or citizen with a valid residential address to apply..

Account use. This account is for personal use only. If you are a business, company or trust, you can contact HSBC for information on transaction accounts available for commercial and business purposes.

Documentation needed

So long as you meet these terms, you can proceed to the online application form. Have the following documentation available to help complete filling out the form quickly and accurately:

Identity documents. HSBC is required by law to verify the identity of applicants before an account can be opened in their name. To accomplish this, you will be asked to provide information from your Australian driver's licence or passport. If not available, you may be asked to visit a local branch in order to complete the identity verification.
Personal details. You are going to need to fill in your full name, date of birth, residential address and e-mail address as part of the application.
Account information. If you are an existing HSBC customer you will need to provide the details of the accounts you already hold with them.

What happens after I submit my application?

Completing the online application should take approximately five to ten minutes. Once complete, hit submit and expect to be contacted within two business days with the details of your new everyday account. At that point your Visa debit card will be issued to you so that you can begin taking advantage of all the features of this transaction account.

What if I'm not eligible to apply online or a non-resident?

If you're moving to Australia, please get in touch with HSBC Australia migrant services to set up your account today, so you can open them before you arrive. If none of the above situations apply to you, please contact HSBC Australia directly to discuss your options.

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11 Comments

finder Customer Care

Joshua
February 22, 2018

Hi Daniel,

Thanks for itemizing your questions. Let me do my best to answer them the best I can. By the way, just a friendly reminder, we can only offer general information since we are not affiliated to HSBC.

1. will the bank charge us (joint account) any fees for deposits to the day to day transaction acct over the counter?

No. You won’t be charged making deposits over the counter. Moreover, other free transactions include internet banking, EFTPOS, Bank@Post, BPAY and automated telephone banking.

2. Is each of us issued with a debit key card?

Yes, that is correct. Both of you will receive your individual debit key card.

3. Can we use internet banking separately with individual password?

Yes, you will be able to use individual passwords.

I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

Have a wonderful day!

Cheers,
Joshua

Reply
Sanz
September 12, 2017

Is there a minimum daily deposit in HSBC debit card

Reply
- Aster Munoz
  September 12, 2017
  
  Hello Sanz,
  
  Thanks for reaching out to us.
  
  For the HSBC Day to Day Transaction Account, there is no minimum deposit required and $0 monthly account fee. You can also know more information about the product through the FAQ tab.
  
  You can click on the green ‘Go to site’ button to submit your online application.
  
  I hope this information helps.
  
  Let us know if there is anything else I can help you with.
  
  Cheers,
  Ash
  
  Reply
Aussie
May 15, 2017

I work overseas so I’m not currently living in Australia. Can I open this account online before I return to Australia in July? Or if I have to go to a branch to open it, what information will I need?

Reply
- finder Customer Care
  
  Dee
  May 16, 2017
  
  Hi there,
  
  Thanks for your question.
  
  To open an HSBC Day to Day Transaction Account, you must be an Australian resident or citizen with a valid residential address to apply.
  
  If you are currently working overseas and would like to open an account before your arrival, you may compare your options on this page.
  
  Cheers,
  Anndy
  
  Reply
Zahr
November 17, 2016

Hi,

If i open the HSBC Day to Day Transaction Account , can i deposit the my money other than HSBC Cash Deposit Machine ? or Where can i deposit the money into my HSBC acc ? Thank You :)

Reply
- finder Customer Care
  
  Dee
  November 17, 2016
  
  Hi Zahr,
  
  Thanks for your question.
  
  You can deposit to your HSBC Day to Day account through the following means:
  
  In person at HSBC branches
  By internet banking (you must register for this service)
  By phone banking (you must register for this service)
  By direct credit
  By direct deposit such as from your salary
  By Bank@PostTM
  
  Cheers,
  Anndy
  
  Reply
Chris
November 6, 2016

Hi,
I make a lot of purchases from companies based overseas (ie. the US) where my payment is changed into US Dollars mid-transaction would I charged a fee for this and if so how much?

Reply
- finder Customer Care
  
  Dee
  November 7, 2016
  
  Hi Chris,
  
  Thanks for your question.
  
  If you use your HSBC Day to Day Transaction Account Visa debit card to shop online on a website that uses a currency other than AUD, you will be charged 3.00% of the Australian dollar amount for the service. The Visa exchange rate will be used.
  
  Cheers,
  Anndy
  
  Reply
Sue
March 25, 2016

Hi. I spend a lot of time overseas, and family send me money at times. Can they deposit into this account from Australia.

Reply
- Harry
  March 29, 2016
  
  Hi Sue,
  
  Thanks for your question.
  
  Your family can deposit money into your HSBC Day to Day Transaction Account. Transferring money overseas is a service that is offered online and costs $20 to use regardless of the amount you intend to transfer. Your family will need your bank details in order to transfer money to your account.
  
  I hope this helps,
  Harry
  
  Reply

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