Product details
Your day-to-day banking needs can be made easier when you open a transaction account with HSBC. The Hong Kong and Shanghai Banking Corporation (HSBC) offers Australians a transaction account with $0 monthly fees and unlimited access to over 3,000 ATMs across the country. It comes with a linked Visa debit card to take care of all of your daily purchases.
$0 monthly fee and get access to the HSBC Australia, Westpac Bank, St.George, Bank of Melbourne and BankSA ATM network.
- Product Name
- HSBC Day to Day Transaction Account
- Monthly Account Fee
- $0
- Debit Card Access
- Visa
- ATM Withdrawal Fee
- $0
- Interest Rate p.a.
- 0.00%
- Details
- $0 account keeping fees. Unlimited free withdrawals at over 3,000 HSBC, Westpac, St.George, Bank of Melbourne and BankSA ATMs.
- Joint Application
- Yes
- Fee Free Deposit p.m.
- $0
- Overseas ATM Withdrawal Fee
- $4.50
- Overseas Eftpos Fee
- $3
- Phone Banking
- Yes
- Fees
- $0
- Internet Banking
- Yes
What are the features of the HSBC Day to Day Transaction Account?
There are multiple features of the Day to Day Transaction Account worth noting when comparing it to other everyday accounts from Australian banks:
$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 ATMs at HSBC Australia, Westpac Bank, St.George Bank, BankSA and Bank of Melbourne 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 $5. 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 3.00% 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.
Pros
- $0 account keeping fee
- No minimum deposit required
- Access to over 3,000 ATMs across the HSBC and Westpac ATM network
- Linked HSBC Visa debit card
- Exclusive to home&away Privilege Program
Cons
- Lack of HSBC Australia branches in Australia
- Fees apply for overseas transactions
How do I apply for the HSBC Day to Day Transaction Account?
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.
Eligibility to apply online
- 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.
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:
Documentation you'll need for your online application
- 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 online 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.
What fees or charges are applicable on overseas purchases and atm withdrawals using a HSBC VISA debit card?Can card be used in atms and purchases in cuba? (some cards have parent company or link to company in USA, which then causes problems or cannot be used in cuba.
For purchases, there’s foreign currency conversion fee for each overseas transaction with this account. For ATM withdrawals, foreign currency conversion fee applies plus overseas ATM transaction fee charged by HSBC using a foreign ATM, plus the local operator may charge its own fee. According to forums, HSBC cards can be used in Cuba. Please see above for these fees.
I want to set up two bank accounts for my sons they are coming to work in June and they need to transfer their money from their english bank account to a bank in Australia. They will be on a one year work permit and intend to work on fruit farms during harvest times. How can I do this – we currently live in beijing and as internet is not good here it doesn’t connect to you. Can we fax all their details passports and birth certificates and residence permits from here in order to set up an account?
Your sons can set up an account before they reach Australia by contacting the HSBC International Banking Centre (IBC) UK. They will be able to submit their documents to them. I’ve emailed you more information.
Hi I would like to know if I buy item from US website it is charge for transaction fees and exchange rate?? Or is it free of charge?
There’s foreign currency conversion fee for each overseas transaction with this account. Please see above for this fee.
Is it possible to open up a family bank account where 3 of more people have access to make withdrawals and deposits?
Unfortunately the maximum amount of people you can have for a HSBC Day to Day account is two.
Hi again , another question , can i deposit cheques into this account @ another bank? ie: westpac for free?
This account allows you access via a chequebook, and you can make deposits into this account via cheque at other institutions for free.
Does this joint account come with 1 debit card or 2?
You’ll receive two debit cards if its a joint account.
I have a partner who is not a citizen. Would I still be able to open a joint account ?
Yes, it is still possible to open an account, though HSBC recommends that you apply over the phone or at your local branch.
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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?
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
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 :)
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
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?
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
Hi. I spend a lot of time overseas, and family send me money at times. Can they deposit into this account from Australia.
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