HSBC Global Money Account review
Looking for a fee-free multi-currency card from a high street bank? HSBC’s Global Money Account could be the answer

HSBC is offering a multi-currency debit card designed to cut your foreign transaction fees when you’re abroad. If you want information on HSBC’s other accounts, check out our guide to HSBC’s current accounts to see more.
It lets you convert and store up to 18 different currencies in virtual wallets, which can all be managed through HSBC’s app.
The Global Money account is only available in HSBC’s mobile banking app. Using the app, you can convert pounds sterling into 18 different currencies, which can then be stored in virtual wallets within the account.
It’s a fairly new account that was launched in October 2022, allowing HSBC customers to enjoy fee-free spending while abroad.
By comparison, many bank accounts will charge foreign transaction fees of up to 3%, which can quickly add up. Find out how to avoid non-sterling transaction fees.
It also offers a multi-currency debit card to use when you’re abroad — though you have to request this separately after the Global Money account has been opened.
Once the account is open, you’ll immediately get access to a digital card, which you can add to things like Apple Pay or Google Pay. But if you want a physical card then you have to order one through the app, which will be delivered to your home address.
You can add pounds to the account through the app and swap them for another currency. Your card can be used like a normal debit card and HSBC won’t charge you foreign transaction fees for spending and withdrawing cash.
If you’re abroad and paying for something in the local currency, the account will automatically deduct money from the wallet that contains that currency (provided you have already loaded it into your account). So if you’re paying for something in euros, it will automatically deduct funds from your euro wallet.
But if you don’t have funds in a particular currency, the account will deduct money from your pounds sterling balance instead.
Once you’ve added sterling to your Global Money account, you can convert it into different currencies. Each type of currency will be held in its own wallet.
You can then hold onto the currency for as long as you want, meaning you might be able to take advantage of favourable exchange rates months before you go away.
So, for example, if you have booked a holiday in April but the exchange rate is looking good in January, you can convert currency and transfer it to your wallet ready for your trip.
You’ll find the full list of supported currencies on HSBC’s website.
This account is not open to everyone – to be eligible you have to have an active current account with HSBC.
Certain types of HSBC current accounts are excluded from this, such as its basic bank account, Amanah, Appointee and MyAccount.
You also need HSBC’s mobile banking app (you can’t open or use the account without it), plus a valid email address.
You must have the HSBC banking app to be eligible for this account. It’s an app-based account so the only way to apply is through the app.
To get started, you need to:
HSBC is a global bank with thousands of branches and cash machines dotted all around the world. So if you’re likely to withdraw cash when abroad and can find an HSBC machine, it might be a good option as you won’t be charged a fee.
Yet compared to some other currency cards, HSBC is more limited on which currencies you can store.
Anyone who isn’t an HSBC current account holder – and doesn’t want to be – will have to explore other options instead (thankfully there are lots of similar cards on the market).
Before going abroad, you might want to compare the best prepaid currency cards.
If you’re not bothered about storing currency but still want to avoid foreign transaction fees, you might want to look at these top debit cards when travelling abroad.
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