Question HSBC Everyday Global Account

Discussion in 'Foreign Exchange / Travel Money' started by risaka, Feb 26, 2018.

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  1. risaka

    risaka Intern

    Mar 6, 2011
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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
     
    • Informative Informative x 1

  2. Danger

    Danger Senior Member

    Jun 19, 2006
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    Perth
    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.
     
  3. kpc

    kpc Senior Member

    Mar 11, 2003
    5,784
    2,220
    Sydney
    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!
     
    • Like Like x 1
  4. Danger

    Danger Senior Member

    Jun 19, 2006
    5,848
    1,614
    Perth
    Will do. I won't be overseas for another five weeks to test it out though.
     
  5. kpc

    kpc Senior Member

    Mar 11, 2003
    5,784
    2,220
    Sydney
    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! :(
     
  6. Family man

    Family man Newbie

    Feb 27, 2018
    5
    0
    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...
     
  7. RB

    RB Established Member

    Nov 17, 2004
    2,303
    937
    Nth Coast NSW
    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
     
  8. risaka

    risaka Intern

    Mar 6, 2011
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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!
     
  9. RB

    RB Established Member

    Nov 17, 2004
    2,303
    937
    Nth Coast NSW
    Not many people on here would be using Qantas Cash by choice
     
  10. Cynicor

    Cynicor Established Member

    Jun 13, 2007
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    Why not just use Citi, ING, Macquarie etc, which all give spot rates??!
     
    • Agree Agree x 1
  11. Family man

    Family man Newbie

    Feb 27, 2018
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  12. Family man

    Family man Newbie

    Feb 27, 2018
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    0
    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
     
  13. Family man

    Family man Newbie

    Feb 27, 2018
    5
    0
    Spot rates means you can’t control when I convert my currency. I remember when brexit was announced , the pound was pummlled!
     
  14. Family man

    Family man Newbie

    Feb 27, 2018
    5
    0
    Qantas cash is riddled with fees...
     
  15. risaka

    risaka Intern

    Mar 6, 2011
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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.
     
  16. N860CR

    N860CR Established Member

    Nov 30, 2004
    3,255
    672
    Brisbane & Sydney
    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
     
  17. Flashback

    Flashback Senior Member

    Oct 29, 2006
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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?
     
  18. Flashback

    Flashback Senior Member

    Oct 29, 2006
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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.
     
  19. theblank

    theblank Active Member

    Aug 3, 2014
    849
    135
    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
     
  20. Flashback

    Flashback Senior Member

    Oct 29, 2006
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    Anything in particular you didn't like about it? The ForEx rates?
     
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