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HSBC Everyday Global Account

Last updated: 17 February 2020

This everyday transaction account can hold 10 currencies and charges no international transaction fees. Plus, earn 2% cashback on tap and pay purchases (T&C's apply).

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.

Account keeping fee

ATM withdrawal fee

Overseas ATM withdrawal fee

Details

Product Name	HSBC Everyday Global Account
Monthly account fee	$0
Debit Card Access	Visa
ATM Withdrawal Fee	$0
ATM withdrawal fee (overseas)	$0
International transaction fee	0%
Monthly deposit required to waive account fee	N/A

Minimum Age	18
Joint account availability	No
Minimum opening deposit	N/A

Pros

Earn 2% cashback on tap and pay purchases
Hold up to 10 currencies in the one account
No international transaction fees
No international ATM fees
Apple Pay and Google Pay available

Cons

You can only pre-load up to 10 currencies
Fees apply to deposit local coins or foreign currency notes into the account

Go to site More info

Expert review

Review by

Alison Banney

alison.banney@finder.com

Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

This account acts like a standard everyday transaction account when you’re here in Australia, and also makes a great travel debit card when you head overseas.

You can hold up to 10 currencies in the account, so you can load up on the currency you need before you go travelling and pay like a local when you’re there. You won’t be charged international transaction fees on purchases made overseas or online from overseas retailers which is a great benefit of the account.

Keep in mind that while HSBC won’t charge you international ATM withdrawal fees, the local ATM operator may charge its own fee. And, if you’re travelling to a country with a local currency that’s not supported with this account (for example India), the money will be converted from your AUD balance at the current Visa exchange rate on the day. So you’re unable to preload this currency when exchange rates are favourable.

When you’re not travelling, you can use the account to pay your bills, deposit your salary and make everyday purchases with the linked Visa Debit Card, Apple Pay or Google Pay. Samsung Pay isn’t available yet, but most new Samsung devices should be compatible with Google Pay.

Key features

SPECIAL OFFER: $100 cash bonus for new customers

Are you a new HSBC customer? You can earn a $100 cash bonus if you open an Everyday Global Account before 31 March 2020 and deposit $2000 or more each month for 3 consecutive months within 6 months of opening your account. The $100 bonus will be paid into your account in AUD.

An everyday transaction account and travel debit card in one

This account is not just for travellers, but designed as an everyday transaction account to use at home in Australia too. Use the account to pay bills and make daily purchases in-store or online, just like you would with a regular bank account.

Linked Visa Debit card

This account comes with a free linked Visa Debit card which you can use in-store or online wherever Visa is accepted around the world.

Earn 2% cashback on tap and pay purchases

When you deposit $2000 or more each month into your Everyday Global Account, you'll be eligible to earn 2% cashback on tap and pay purchases under $100. This includes when you ta and pay with your linked Visa Debit card, Google Pay and Apple Pay. The amount you can earn in this cashback deal is capped at $50 a month.

Hold up to 10 currencies

You can hold up to 10 different currencies in the account, including AUD, USD, EUR, SGD, NZD, JPY GBP, CAD, HKD and CNY (currency restrictions apply). Load up on the currencies when the exchange rate is favourable, and then use the currencies when travelling without the need for currency conversion.

Pay like a local overseas with no international transaction fees

You won't have to pay international transaction fees when using your debit card overseas. Plus, you can use the card when you're at home to shop online from overseas stores while still avoiding this fee. On a standard transaction account, you could expect to pay an international transaction fee of 3.00%.

No international ATM fees

Because you've already got the foreign currency loaded in your account, when you're travelling in a country that supports that currency, you can simply withdraw cash from ATMs without paying an international transaction fee. However, note that other ATM fees charged by the local operator may still apply.

Withdraw cash overseas, even when you don't hold that currency in your account

If you're travelling in a country that doesn't use on of the 10 supported currencies, don't worry, you can still access cash in the local currency. Use your debit card at international ATMs to withdraw the local currency, and it'll be withdrawn from your AUD balance and converted at the current Visa exchange rate. Easy!

Access competitive currency exchange rates

When you use an ATM or make a transaction overseas, funds will automatically be debited in that country's currency, providing you hold that country's currency in your account. There's no extra step where funds are converted from Australian dollars into the local currency, so you don't lose out if the exchange rate is less than favourable at the time of your transaction. Where you don't have sufficient funds in that currency or don't hold that currency, the funds will be automatically converted from Australian dollars into the local currency at the current Visa exchange rate.

No pesky account-keeping fees

You won't be charged any monthly account-keeping fees with this account.

Instant online transfers between currencies

You can transfer money between currencies instantly online via Internet Banking or the mobile app. Real time currency exchange rates will apply for certain currencies when the foreign currency (FX) market is open (excludes weekends, currency and US holidays). On weekends after currency cut-off times, a set exchange rate will apply that includes an additional weekend spread.

Deposit foreign notes into the account

You can deposit foreign currency notes into the account at a HSBC branch. For physical note handling, you'll be charged a fee of 1.25% of the amount you're depositing (minimum charge of $20). You can deposit local coins to the value of $100 or more, and will be charge 2% of the transaction value.

Correct currency automatically applied to transactions

You don't have to worry about remembering to switch between currencies. The correct international currency will be applied automatically when withdrawing cash or making deposits. This is also the case for online transactions and BPAY transactions.

Apple Pay and Google Pay available

Use Apple Pay or Google Pay to make contactless purchases in-store without using your physical debit card.

How to apply

If you think this is the account for you, you can easily apply online in less than 10 minutes. Check that you meet the eligibility requirements first, and make sure you have the necessary documents handy.

Eligibility

Minimum age. The minimum age requirement for this account is 18 years of age.
Residency requirement. In order to be eligible for this account, you must have an Australian residential address.

Depository requirements. There is no minimum requirement for your initial deposit and you will not have to maintain a monthly balance in order for the account to remain active.

Documentation needed

Tax file number. You are under no obligation to provide your tax file number (TFN), but if you don't, withholding tax will be deducted at the highest marginal rate.
Identification. HSBC will verify your identity online by using information found on your driver's licence or passport.

What happens after I submit my application?

After submitting your application, the information provided will be verified by HSBC, and you'll be given the details of the account. You'll be sent your Visa Debit card in the mail to your residential address.

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81 Comments

Julian
October 14, 2019

What are the foreign currencies supported by the card?

Reply
- finder Customer Care
  
  Charisse
  October 15, 2019
  
  Hi Julian,
  
  Thanks for reaching out to Finder.
  
  In addition to Australian dollars, with HSBC Everyday Global Account, you can buy, hold, save and spend in the following currencies: USD$, GBP£, EUR€, HKD$, CAD$, JPY¥, NZD$, SGD$, CNY¥ (currency restrictions apply to CNY¥).
  
  I hope this helps.
  
  Cheers,
  Charisse
  
  Reply
SC
October 7, 2019

Is this a credit or debit card? They ask for an awful lot of information in the application – Will HSBC run a credit check on my name?

Reply
- finder Customer Care
  
  Ash
  October 8, 2019
  
  Hi SC,
  
  Thanks for contacting Finder.
  
  The HSBC Everyday Global Account is a Transaction Account that comes with a Visa Debit Card that you may use for your everyday purchases. There will be no credit check for opening the HSBC Everyday Global Account as it is not a credit lending facility.
  
  I hope this helps.
  
  Cheers,
  Ash
  
  Reply
john
September 17, 2019

If I apply for an account will it be based in Australia or the UK?

Reply
- finder Customer Care
  
  Nikki
  September 18, 2019
  
  Hi John,
  
  Thanks for getting in touch! For the HSBC Everyday Global Account, in order to be eligible for this account, you must have an Australian residential address.
  
  As a friendly reminder, check the eligibility requirements of the card before proceeding with your application. Also, read about its features and benefits and see how it fits your financial needs. Additionally, it’s helpful to review the PDS and Terms & Conditions of the card before fully committing to the card. You may also reach out to the bank if you have any clarifications.
  
  Hope this helps!
  
  Best,
  Nikki
  
  Reply
Matthew
September 7, 2019

I’m thinking of just using this account when I go overseas. Is there any fee for keeping balance at zero for a while?

Reply
- finder Customer Care
  
  Joshua
  September 8, 2019
  
  Hi Matthew,
  
  Thanks for getting in touch with Finder. I hope all is well with you. 😃
  
  The answer to your question is no. HSBC Everyday Global Account doesn’t come with account keeping fees and there’s no monthly fee as well.
  
  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
Roy
August 23, 2019

Hi,

Can I deposit local currency’s overseas? E.g. Singapore currency in Singapore without getting fee or do I still get fee as account open in Australia?

Thanks!

Reply
- finder Customer Care
  
  Jeni
  August 24, 2019
  
  Hi Roy,
  
  Thank you for getting in touch with Finder.
  
  If your HSBC Everyday Global Account holds the currency you’re depositing like SGD, you will not be charged for doing so. If any deposit is made in a currency different from any of the currencies of your Everday Global Account, a currency conversion will be made to convert the funds deposited into your controlled currency, which is the AUD, and a fee may apply. Kindly get in touch with HSBC for further clarification on this matter.
  
  I hope this helps.
  
  Thank you and have a wonderful day!
  
  Cheers,
  Jeni
  
  Reply
Lynnette
August 1, 2019

I am traveling to Switzerland and then Eastern European countries soon. Do I have to specify in my account an AUD balance and a Euro balance, or can I just leave my funds as AUD to be converted on the day I withdraw from my account? How much is the conversion fee?

Reply
- finder Customer Care
  
  Jhez
  August 2, 2019
  
  Hi Lynnette,
  
  Thank you for your comment.
  
  Yes, it’ll be withdrawn from your AUD balance and converted to the local currency at the current Visa exchange rate. There is no conversion fee. Hope this helps.
  
  Regards,
  Jhezelyn
  
  Reply
Stephen
August 1, 2019

Do you have any branch in Perth, WA? Do you charge any fees for transactions in Sweden and Norway?

Reply
- finder Customer Care
  
  Jhez
  August 2, 2019
  
  Hi Stephen,
  
  Thank you for your comment.
  
  Yes, HSBC has a branch at 188/190 St Georges Terrace, Perth WA 6000, Australia. The HSBC Everyday Global account does not charge international transaction fees, which means that there should be no charges when using it in Sweden and Norway.
  
  Regards,
  Jhezelyn
  
  Reply
Gian
June 15, 2019

Hi, I’m from the Caribbean where there’s very limited options for banking. It’s very difficult to make transactions in foreign currencies. I’d like to use an account to make/receive payments, travel regularly for leisure and business purposes, not to mention I appreciate the size and stability that HSBC possesses. I am currently unable to travel to Australia, nor do I have an Australia address I can use. I do however, have an address (family) in the UK and USA which I can use despite being a non-citizen/resident of both countries. I’ve tried some searches but have not found any conclusive answer. Is there any way I could access this everyday global account and services? If not, what are some other options I can consider? Thanks in advance!

Reply
- finder Customer Care
  
  Nikki
  June 15, 2019
  
  Hi Gian,
  
  Thanks for your inquiry.
  
  The HSBC Everyday Global Account needs and Australian address this means you won’t be eligible for it. As of this writing, we don’t have savings accounts for non-AU residents. You can try to find accounts on this page and you will need to provide a US residential address, your passport, and a valid visa. Some banks require a second form of ID, such as your driver’s license or birth certificate. As a friendly reminder, review the eligibility criteria and read up on the terms and condition of the account before applying. Feel free to reach out to the bank if you need any clarifications.
  
  Hope this helps!
  
  Best,
  Nikki
  
  Reply
Zak
June 12, 2019

I receive and send a lot of transactions in US dollars each month. My Australian Bank takes a $10 fee to receive the funds, there is $25 taken out somewhere after it is sent and before it is received by me (my bank says its the handling bank ANZ) and then I have a very poor interbank exchange rate.

If i was to send and receive USD would their be any fees involved?

Reply
- finder Customer Care
  
  Nikki
  June 13, 2019
  
  Hi Zak,
  
  Thanks for getting in touch!
  
  To send and receive USD using HSBC Everyday Global account, note that the fees are as follows:
  
  – If you were to receive the funds electronically for foreign currency funds that are coming overseas, you will incur an Inward transfer fee of $10AUD per transfer.
  – And for transferring funds overseas, you will incur an Outward fee of $20AUD per transfer.
  
  Hope this was helpful. Don’t hesitate to message us back if you have more questions.
  
  Best,
  Nikki
  
  Reply
CH
June 7, 2019

Hi,

I am planning to study for 4 months in the US. What are the differences between the HSBC Everyday Global Account and Westpac Global Currency Card? Also, would either of this card suffice, without opening a bank account in the USA?

Reply
- finder Customer Care
  
  Jeni
  June 8, 2019
  
  Hi CH,
  
  Thank you for getting in touch with Finder.
  
  The HSBC Everyday Global Account is a travel debit card that is also an everyday transaction account and multi-currency account while the Westpac Global Currency Card is a prepaid Visa travel money card that lets you load up to 5 of 11 different currencies at any one time. Both cards can be used in the US however HSBC has a presence in the US which would make it easier to open an account in the said country. If you have an HSBC global account then you can set up a bank account with them even before you fly over. If you choose Westpac then, make sure that you consider an international bank account with them that uses US dollars instead of your local currency. Kindly go through the eligibility criteria as well as relevant PDS or T&C of your chosen card/account to make sure that you’re getting the right product for you.
  
  You may want to know more about international students in the US on this page.
  
  I hope this helps.
  
  Thank you and have a wonderful day!
  
  Cheers,
  Jeni
  
  Reply

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