HSBC Everyday Global Account
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
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.
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.
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.
- 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.
- 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.