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HSBC Global Money account review

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Manage your international finances with free transfers, but only to HSBC customers.

The Global Money account allows you to manage multiple currencies and make free domestic and international wire transfers — all from the touch of your phone. But it’s currently only available to select HSBC customers. And transfers can only be made to other HSBC account holders.




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Expert review

Heather Petty

Review by

Heather Petty is a writer at Finder specializing in banking, investments and insurance. She's a self-proclaimed word nerd who worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. Heather earned a bachelor’s degree in English from the University of Nevada, Reno.

Expert review

The Global Money account may be a great fit for existing HSBC customers who live or do business abroad. The low fees and competitive exchange rates can help you get the most for your money while juggling multiple currencies.

But this account doesn’t quite stack up to its global account competitors yet. You can only transfer money to other HSBC customers, and the available currencies are limited.

If you’re not willing to wait on HSBC to expand its services, consider other accounts like the Transferwise Borderless account. Or if you’re looking for a more traditional checking account, shop around to see what other banks are offering.

How do I open a Global Money account?

You must have an HSBC deposit account to open a Global Money account. If you do, follow these three steps to open your new account:

  1. Open and log in to the HSBC mobile banking app.
  2. Select Global Money and tap Get Started.
  3. Follow the prompts to enter your information and open the account.


You must meet the following requirements to open the HSBC Global Money account:

What kind of deposit account do I need to open to be eligible for an HSBC Global Money account?

You’ll need to link your Global Money account to any of the following HSBC accounts:

Checking accounts

  • Advanced Checking
  • Basic Banking
  • Choice Checking
  • HSBC Direct Checking
  • Premier Checking

Savings accounts

  • Advance Savings
  • Direct Savings
  • Everyday Savings
  • Online Money Market Savings
  • Premier Savings
  • Promotional Advance Savings
  • Promotional Premier Savings

What are the benefits of an HSBC Global Money account?

Manage your Global Money account from your mobile device and enjoy the following benefits:

  • Free transfers. Pay no wire transfer fees when you wire funds to other HSBC customers.
  • Competitive FX rates. HSBC uses the mid-market exchange rates and updates them every 90 seconds.

What should I look out for?

Keep the following drawbacks in mind before you sign up:

  • Only available to HSBC account holders. You’ll need an active HSBC checking or savings account to use the Global Money account.
  • No ATM debit card. You can’t access your HSBC Global Money funds with an ATM card. Other multicurrency accounts like Transferwise’s Borderless account come with an ATM debit card for easy access to your funds.
  • Limited currencies. HSBC plans to expand its currencies in the future, but the account currently only allows you to convert and hold eight currencies. In comparison, competitors like Transferwise let you hold up to 40 currencies.
  • Only available to select US customers. As a new product offering, HSBC sent an email to select HSBC customers to try this product. The bank plans to offer this account to more HSBC customers in 2021.

What currencies are available through the HSBC Global Money account?

HSBC allows you to transfer, convert and hold the following eight currencies:

  • AUD – Australian dollar
  • CAD – Canadian dollar
  • EUR – Euro
  • GBP – Pound sterling
  • HKD – Hong Kong dollar
  • NZD – New Zealand dollar
  • SGD – Singapore dollar
  • USD – US dollar

HSBC’s transfer and conversion fees

HSBC charges a currency conversion fee using the following rates:
  • 1.5% for $0 to $50,000
  • 1.25% for $50,000 to $100,000
  • 1% for $100,000 to $200,000
HSBC Jade customers get lower conversion rates as a perk:
  • 0.4% for $0 to $50,000
  • 0.3% for $50,000 to $100,000
  • 0.2% for $100,000 to $200,000

Plus, you’ll enjoy no fees for transfers between HSBC accounts. The maximum daily amount you can transfer is $200,000 to your own HSBC account and $15,000 to another HSBC account.

As for fees for transfers to external banks, HSBC doesn’t disclose this information. When we contacted HSBC, they said that the fees are disclosed in the Pre-Payment and Receipt Disclosures you receive with every transfer.

Compare with other checking accounts

Name Product Minimum deposit to open ATMs Out-of-network ATM fee
HSBC Premier Checking
Free to use at all ATMs in the US
Get a 3% cash bonus, up to $600 (max. $100 per month) during first six months after account opening. Must open HSBC Premier checking account through offer page by September 30, 2020, and set up qualifying direct deposits into the new account. Conditions apply. Deposit products are offered in the US by HSBC Bank USA, N.A. Member FDIC.
BBVA Online Checking
No ATM fees nationwide at more than 64,000 AllPoint, participating 7-Eleven and BBVA USA ATMs
A full-service account with convenient, surcharge-free access to two massive ATM networks.
Axos Bank Essential Checking
ATM fees reimbursed at any ATM nationwide
No fees. Unlimited domestic ATM fee reimbursements.
Axos Bank Rewards Checking
ATM fees reimbursed at any ATM nationwide
Earn up to 1.25% APY while enjoying a suite of digital tools for smarter money management.
Aspiration Spend & Save Account
55,000 free in-network ATMs
Deposits are fossil fuel-free. A spend and save combo account with unlimited cash back rewards and deposits insured by the FDIC.

Compare up to 4 providers

How do I deposit or withdraw my money?

All deposits and withdrawals are done by transfer using the mobile app. To transfer money, click Get Started from the Global Money account app and follow the prompts to transfer money to any HSBC account.

How can I contact HSBC customer service?

Use one of the following options to contact HSBC:

  • Call 800-975-4722 from 7 a.m. to 12 a.m. ET
  • Use the live chat feature on HSBC’s website
  • Use the Apple Business Chat through the mobile app
  • Send a direct Twitter message to @HSBC_US
  • Visit a local branch during business hours
  • Send mail to HSBC Bank USA, N.A., P.O. Box 2013, Buffalo, NY 14240

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