Answered - HSBC Everyday Global Account | Australian Frequent Flyer
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Answered HSBC Everyday Global Account

risaka

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Has anyone used the HSBC Everyday Global Account?

My friend has told me this account is an everyday bank account which charges no ATM fees and 0% foreign exchange fees when using locally and overseas (like Citi & ING).
Unlike Citi & ING, you can load your foreign currencies prior to your trip and use it with your visa debit card without any foreign exchange fees.

HSBC Everyday Global Account – Multi currency | HSBC Australia
 

Danger

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I saw it on Ozbargain. It reads well so I applied. Ideally I'd like to give Citibank the finger so I'll give this one go and if it work it'll be the go-to overseas card.
 

kpc

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I saw it on Ozbargain. It reads well so I applied. Ideally I'd like to give Citibank the finger so I'll give this one go and if it work it'll be the go-to overseas card.
Please report your experiences, in partic.what the "Convert foreign currencies at real-time FX rates" actually are....ie how different it is to the xe.com rate. thanks PS. I already have a HSBC acct so it will take me seconds to apply for this account!
 

Danger

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Please report your experiences, in partic.what the "Convert foreign currencies at real-time FX rates" actually are....ie how different it is to the xe.com rate. thanks PS. I already have a HSBC acct so it will take me seconds to apply for this account!
Will do. I won't be overseas for another five weeks to test it out though.
 

kpc

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Will do. I won't be overseas for another five weeks to test it out though.
Thanks. I'm actually OS in 4 business days' time so I don't think I can set it up in time and get the card! :(
 

Family man

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Feb 27, 2018
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Thanks. I'm actually OS in 4 business days' time so I don't think I can set it up in time and get the card! :(
Try calling 1300 131 605 or visiting a branch, they might be able to accommodate by express posting a debit card to you. I’ve just opened an account and the exchange rates look pretty good for example usd at 0.782 and they update every 30 seconds...
 

RB

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From my reading it doesn't seem like non city residents would be able to make use of this (no HSBC presence)? The quite detailed discussion on Ozbargain also raised a lot of questions re the viability of the card
 

risaka

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My friend has advised me today's HSBC rate on usd is 0.7691 and Xe spot rate is 0.7852.

The exchange rate is pretty good compared to Qantas Cash (0.7504). Might give this a go!
 

RB

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My friend has advised me today's HSBC rate on usd is 0.7691 and Xe spot rate is 0.7852.

The exchange rate is pretty good compared to Qantas Cash (0.7504). Might give this a go!
Not many people on here would be using Qantas Cash by choice
 

Cynicor

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Why not just use Citi, ING, Macquarie etc, which all give spot rates??!
 

Family man

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Please report your experiences, in partic.what the "Convert foreign currencies at real-time FX rates" actually are....ie how different it is to the xe.com rate. thanks PS. I already have a HSBC acct so it will take me seconds to apply for this account!
 

Family man

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Not many people on here would be using Qantas Cash by choice
I applied for an account and opened online on the spot then had a play with the fx rates and they update every 20 or so seconds...so need to be careful on how much the market has changed when doing comparisons with others that don’t offer real time pricing
 

risaka

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I’ve used this account on my recent trip to PVG and the exchange rate used was pretty close to XE. No fees to withdraw and transact.

It’s a good alternative to ING for those who can’t be bothered to deposit $1k and make 5 purchases.
 

N860CR

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Does anyone have any experience with this card and ATM operator fees? ING rebates the fees that get added onto the transaction value, but I get sick of having to do the 5 transactions each month
 

Flashback

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Any further thoughts on this one? Surprised it hasn't had more traction. That in itself worries me though, it means it's either not got great rates or... it's just not well publicised?
 

Flashback

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It seems like the "HSBC special rate" (which is approx 2% on top of the spot rate) should only apply on weekends?

Per HSBC Everyday Global Account | Bank account product information | Mozo
One other thing to remember is that real time currency exchange rates are available only between 8am Monday and 11.59pm Friday Australian Eastern Standard Time (excluding public, currency and US holidays). This won’t stop you from using your card to pay outside of these hours, but it means the conversion will be at the current HSBC exchange rate at the time of the purchase.

So, say you want to make a purchase on a Sunday and don’t have enough of the local currency. You won’t be able to make the exchange before making a purchase, instead it will be automatically converted from your Australian dollars account and you'll get the exchange rate available at the time.
 

Flashback

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got it, tried it, dont like it.

if i was receiving money in USD i would use it. otherwise i am just happy to use normal no-fee credit/debit cards
Anything in particular you didn't like about it? The ForEx rates?
 

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