HSBC Everyday Global Account review
Hold up to 11 different currencies with this multi-currency account.
With the increasing popularity of international transactions, many bank providers, including HSBC, have started offering multi-currency accounts. Use this review to help you decide whether the HSBC Everyday Global Account is the right multi-currency account for you.
Minimum Initial Deposit
Fall below monthly fees
|Product Name||HSBC Everyday Global Account (EGA)|
|Minimum Initial Deposit||S$2,000|
|Minimum annual interest rate||0%|
|Maximum annual interest rate||0%|
|Minimum Age Requirement||18 years old|
|Mobile Payments||Apple Pay|
What's in this review?
- What features are available with the HSBC Everyday Global Account?
- How does the HSBC Everyday Global Debit Card work?
- Compare a range of current accounts in Singapore
- What fees are charged with the HSBC Everyday Global Account?
- Other HSBC accounts to consider
- Compare HSBC Everyday Global Account
- Which HSBC account is best for me?
- How to sign up for the HSBC Everyday Global Account
- Frequently asked questions
What features are available with the HSBC Everyday Global Account?
In order to meet your daily spending needs, the HSBC Everyday Global Account comes with the following features.
- Global transfers. Send money internationally to any other HSBC account and receive it instantly.
- Online GetRate. Use real-time information about currency exchange rates for all foreign transactions.
- HSBC Singapore app. Enables you to convert currencies, make forex trades and shop online with overseas-based stores.
- Tiered interest rates. The more you save, the more you could earn in interest.
- Attractive rebates. For the first 1,000 eligible transactions every month, get up to $20 in rebates when you spend at least $300 online.
- Wide range of currencies to choose from. The HSBC Everyday Global Account supports 11 global currencies at the time of writing: AUD, CAD, EUR, JPY, NZD, GBP, CHF, USD, HKD, and RMB.
How does the HSBC Everyday Global Debit Card work?
The HSBC Everyday Global Debit Card comes free with the HSBC Global Account. It essentially functions as a multi-currency debit card, with these added features.
- No transaction fees when you shop globally
- No fees for ATM withdrawals around the world at HSBC ATMs
- Support for Apple Pay, Visa, SimplyGo or NETS Flash Pay
- Daily spending limit of up to $10,000
Compare a range of current accounts in Singapore
What fees are charged with the HSBC Everyday Global Account?
Here are some fees to take note of before signing up with HSBC.
- Minimum initial deposit. S$2,000 fee if the average daily balance falls below S$2 (or equivalent) in a single/combined currency. If you are a HSBC Premier or HSBC Advance customer, this requirement may be waived.
- HSBC offshore banking fees. $50 per month if your Total Relationship Balance falls below $200,000.
- Early account closure fees. $50 fee if you close your account within six months of opening.
- Branch transaction fees. $5 fee for every branch transaction (waived for internet banking).
Other HSBC accounts to consider
Not quite sure if the HSBC Everyday Global Account is for you? Consider the following HSBC accounts instead and see if they could better suit your banking needs.
- HSBC SGD Current Account. This free-of-charge current account has its own personalized debit card, internet banking service and a complimentary cheque book. However, note that it is non-interest bearing and has a minimum deposit requirement of $2,000.
- HSBC SGD Savings Account. Also free-of-charge, this savings account is intended for those who simply require a safe place to store their savings. It has a personalized debit card and internet banking features, but also take note of the minimum deposit requirement of S$2,000. Compared to the Current Account, it has no chequing facility but it does offer interest.
- HSBC Advance Account. For a monthly service fee of $10 — or by fulfilling a minimum in home loans, bank balances or salary credit — you can get access to the Advance programme. This account further offers specialized wealth management advisors and solutions, as well as up to 3.00% p.a. in interest and 3.5% in cashback.
- HSBC eFlexi Account. The eFlexi account allows you to maximize the utility of your salary with a personalized debit card, internet banking services and 1% bonus interest for crediting your salary.
- HSBC Premier Account. By meeting certain criteria as a high net-worth individual, you could gain access to privileges such as convenient international banking services, overseas education support, dedicated wealth managers and financial planning support.
Compare HSBC Everyday Global Account
Which HSBC account is best for me?
Ultimately, the best HSBC account for you depends on your financial profile, wealth goals and purpose for banking.
For example, the HSBC Global Everyday Account is great for individuals seeking a competitive multi-currency account, but may not be the best option for individuals seeking a high-yield savings account in SGD. As such, you should consider a range of factors, including features and fees, before choosing the best HSBC account for you.
How to sign up for the HSBC Everyday Global Account
If you’ve decided to register for the HSBC Everyday Global Account, you may open an account with HSBC following the same steps required to open any other bank account in Singapore. First, check the eligibility requirements stipulated by HSBC to see if you may open an account with them.
You’ll need to meet these requirements to open a HSBC Everyday Global Account:
- Age. Be at least 18 years old
- Residency. Be a Singaporean, Singapore Permanent Resident or a foreign citizen
- Initial deposit. Have at least S$2,000 (or equivalent) for an initial deposit
Make sure you have the following information and documents ready when you apply:
- Singapore citizens and permanent residents. A photocopy of your NRIC (both front and back)
- Foreigners with a valid permit. Employment pass or work permit for foreigners
If you meet the criteria and have the required documents, you may apply for an account online on HSBC’s website through the “Apply Now” button. If you already have an existing account with HSBC, you may log onto your HSBC account to apply directly for a more seamless process.