HSBC Everyday Global Account

The HSBC Everyday Global Account lets you deposit, hold, transfer and withdraw funds in multiple foreign currencies.

The HSBC Everyday Global Account gives you the option to hold funds in up to 10 different foreign currencies (listed below). It does not attract any monthly account-keeping fees, and charges no international ATM fees or foreign transaction fees making it a good solution for travelling.

What are the features of the HSBC Everyday Global Account?

This account could be ideal for Australians who are often overseas, as it gives account holders the option to switch between currencies to benefit from favourable exchange rates. You can access funds in this account in different ways. Here are some of the main features of this account.

Hold funds in different currencies.

This feature is the highlight of this account. This account allows you to hold up to 10 different currencies including: AUD, USD, EUR, SGD, NZD, JPY GBP, CAD, HKD and CNY (currency restrictions apply).

Easy access to account.

You can access your HSBC Everyday Global Account in different ways. These include visiting an HSBC branch, through Internet, mobile, and Phone banking, and through telegraphic transfers. HSBC sends all account holders regular statements, which you can switch to e-Notifications and e-Statements for simpler access to information about deposits, withdrawals, and transfers.

Unlimited deposits and withdrawals.

You can make as many deposits and withdrawals as you like, although there are certain limitations when it comes to making them at HSBC branches. When it comes to depositing cash at an HSBC branch, you can only deposit AUD, USD, and HKD. If depositing USD or HKD, you can only deposit notes, all notes should be in multiples of 10, and these deposits attract cash handling fees. If you plan to make cash withdrawals, bear in mind that withdrawing more than the equivalent of 1,000 AUD is subject to branch availability or a 24 hour notice period.

No international transaction fees.

You won’t have to pay international transaction fees when shopping online from overseas stores or when using your debit card overseas.

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.

No minimum balance.

You can open this account with any of the acceptable currencies, and with as little money as you have. Not only does this account offer a no opening balance facility, it does not require you to maintain a minimum balance in any currency at any time.

What foreign exchange rates does HSBC offer?

  • Favourable 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.
  • Instant online transfers between currencies. You can transfer money between currencies instantly online via Internet banking or the mobile app. However, this can only be done between 8:00am Monday to 11:59pm Friday (AEST), and excludes public, currency and US holidays).

What fees and charges are payable for this account?

This account does not attract any monthly account-keeping fees, international ATM fees or international transaction fees, making it ideal for travelling. You do not have to pay any fee to make withdrawals, deposits, and transfers at branches either. However, while HSBC does not charge any international ATM fees, notes the foreign ATM operator may.


How to apply

Applying for the HSBC Everyday Global Account is easy. You don’t have to be a citizen of Australia to apply for this account, but you should have a residential address in Australia. You should be no less than 18 years of age.

The application process requires you to choose between a single and joint account. As part of the application process you have to part with personal information such as your name, phone number, address, and email address. You have to submit details of one form of ID, which can include an Australian passport, an Australian driving license, or a valid passport in order for HSBC to verify your identity.

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63 Responses

  1. Default Gravatar
    DSApril 27, 2017

    Hi there,

    I’m a Brazilian born-Australian citizen who is planning to use some of my money that is kept in BRA here in AUS or in HK. With this multi-currency account, when transferring funds/making a deposit from Brazilian REAL to my HSBC account in either AUD or HKD would I only pay the current currency exchange or is there any other fee(s) involved? (e.g. International transfer/bank fee)

    Thanks for your help

    • finder Customer Care
      HaroldApril 27, 2017Staff

      Hi Danlim,

      Thank you for your inquiry.

      With HSBC Multi Currency Account it does not attract any monthly account-keeping fees, but note that making an international transfer with this account will come with fees listed in the table above. You do not have to pay any fee to make withdrawals, deposits, and transfers at branches either. An overdraft arrangement fee of nine Australian dollars applies if you choose to use this service, and it also attracts daily interest at the given excess rate.

      I hope this information has helped.

      Cheers,
      Harold

  2. Default Gravatar
    DebsNovember 19, 2016

    Hi,

    I have moved to Australia from the UK. I am using the global transfer facility to make transfers from sterling to my Australian account. However I am not getting the advertised bank exchange rate. I’m told there is a minimum amount but the person I just spoke to at HSBC could not tell me what the minimum amount is?

    • finder Customer Care
      ShirleyNovember 21, 2016Staff

      Hi Debs,

      Thanks for your question.

      Usually the exchange rate is determined by the bank that sends the money, so in this case it’s your UK bank. You may want to get in touch with them directly to discuss the exchange rate they’re providing for you.

      If you’re referring to HSBC GetRate, Get Rate is only applicable for eligible transactions, of amounts from $1 to $500,000 for Internet Banking.

      There may be fees charged for sending / receiving international money transfers too.

      Please let me know if I can help further,
      Shirley

  3. Default Gravatar
    KimNovember 17, 2016

    Hello, I live in Australia. Is it possible for a British institution to deposit into my multi-currency account?

    • finder Customer Care
      HaroldNovember 17, 2016Staff

      Hello Kim,

      Thank you for your question.

      Our company, finder.com.au is a comparison website and general information service. We are designed to help consumers to make a better decisions and we don’t actually represent other companies. For direct account enquiries related to HSBC please contact their support directly.

      I hope this information has helped.

      Cheers,
      Harold

    • finder Customer Care
      ClarizzaNovember 17, 2016Staff

      Hi Kim,

      Thanks for your question.

      Yes, your HSBC multi-currency account can hold up to 10 different currencies, including the British pound.

      Regards
      Clarizza

  4. Default Gravatar
    DinOctober 13, 2016

    Hello

    I’ll be moving to America next month for 2 yrs. I plan to transfer 5k aud as a pocket money to multiple currency account. Now can I withdraw it in any hsbc atm in America?

    Do I have to open a new hsbc account locally in America for my salary to go in or just have it deposit straight to the multiple currency?

    • finder Customer Care
      ClarizzaOctober 13, 2016Staff

      Hi Geraldin,

      Thanks for your question.

      Please note that the HSBC Multi-Currency account is an online account and does not come with a debit card so if you want to withdraw cash while in the US, you would need to transfer it to a transaction account. Since you’ll be based in the US, you may want to consider opening a US bank account so you can avoid overseas ATM fees. There are some Australian options available if you wish.

      While HSBC is an international bank, there are certain conditions attached per country so you may need to speak to a HSBC representative directly.

      If you want to avoid transfer fees banks charge for moving your cash between accounts you can also use a dedicated international money transfer service to transfer your AUD to the US account. Our Relocating Overseas Guide might be of assistance.

      Please note, we are a comparison site and as such can provide general advice only.

      Hope this has helped.

      Clarizza

  5. Default Gravatar
    PadriguezOctober 3, 2016

    I am an Australian Citizen working in Australia working for a Chinese company and being paid from China. Can I open an account in Hong Kong and Australia and transfer funds between each?

    • finder Customer Care
      ClarizzaOctober 5, 2016Staff

      Hi Padriguez,

      Thanks for your question.

      Yes you can open an account in Hong Kong and transfer to an Australian bank account. Be mindful however of the fees involved in the transfer of the funds between banks and countries. It might be worth looking an opening an account from an international bank as they might offer special features that reduce the fees involved. For example, HSBC or Citibank.

      Hope this has helped.
      Clarizza

  6. Default Gravatar
    anitaAugust 25, 2016

    If I open an HSBC multi-currency account, can I deposit a check in British pound?

    • finder Customer Care
      ClarizzaAugust 25, 2016Staff

      Hi Anita,

      Thanks for your question.

      While you can keep multiple currencies in this account (including the GBP), if you’re in Australia, HSBC branches only accept AUD, HKD and USD. We recommend speaking to the provider directly to discuss your options.

      Clarizza

  7. Default Gravatar
    HollaJune 7, 2016

    Can i set up an account in Australia and get verified without visiting Australia?

    • finder Customer Care
      ShirleyJune 8, 2016Staff

      Hi Holla,

      Thanks for your question.

      If you’ve never held an account with HSBC before, you’ll be required to verify your identity here in Australia.

  8. Default Gravatar
    March 23, 2016

    1. Can I setup an account in AU$ for the sole purpose of using that money to purchase US$ or other currencies from alternative providers [if they offer a better exchange rate] for the purpose of having that foreign currency transferred into this account ?
    2. Would HSBC charge my account for such deposits in such instances ?
    3. Would HSBC charge my account withdrawal fees of any currencies I might have ?

    Details
    Fees & Exchange Rates
    Pros & Cons
    Online Transfer Fee AUD 20…..Please explain in more detail
    Branch Transfer Fee AUD 25…..Please explain in more detail
    ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

    You do not have to pay any fee to make withdrawals, deposits, and transfers at branches either.
    Where would be the closest branch to Sunshine Coast Queensland ?
    *****************************************************************
    Where can I access HSBC currency conversion rates online without an account ?

    Thanking You
    Roy

    • finder Customer Care
      ShirleyMarch 24, 2016Staff

      Hi Roy,

      Thanks for your question.

      Yes you can set up the account for the sole purpose of using that account to purchase USD and other currencies. HSBC will charge 1% of the amount if it’s electronically transferred without the need of currency conversion. Likewise, the same fee applies if you’re transferring out and the transaction doesn’t require currency conversion.

      Cash deposits and withdrawals are restricted to AUD, USD and HKD. For USD and HKD deposits and different fees apply.

      The $20 and $25 fees listed in the article refer to international money transfers – which don’t apply in this case.

      The closest HSBC branches to the Sunshine Coast are Brisbane and Gold Coast.

      HSBC exchange rates can be found on it’s official website.

      Hope this helps.

  9. Default Gravatar
    wenFebruary 11, 2016

    Hi,

    what are the fees for if i want to withdraw cash in different currency in Australia?

    • finder Customer Care
      ShirleyFebruary 12, 2016Staff

      Hi Wen,

      Thanks for your question.

      Please note on the HSBC website it states ” All cash transactions are restricted to AUD, USD and HKD. For USD and HKD deposits, these must be notes only and in multiples of 10. Cash transactions in USD and HKD are subject to cash handling fees. Cash withdrawals in HKD or USD for amounts greater than AUD 1,000 equivalent are subject to 24 hours advance notice or branch availability.”

      Fees will be 1.25% of the deposit amount.

      Hope this helps.

  10. Default Gravatar
    BryanJanuary 4, 2016

    Hi there. I am an Australian citizen living in Australia. My employer is a Canadian company who will be paying me in Canadian Dollars on a monthly basis. Is there a fee for my Canadian employer to make payments into the multi currency account? I do not want my employer to pay me into my normal Australian bank account due to the transaction fees and I also want the ability to make the exchange from CAD to AUD when the rate is favourable.

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