HSBC Everyday Global Account

[risaka]

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

 

[theblank]

Anything in particular you didn't like about it? The ForEx rates?

I know someone woud ask this, DOH!

I think it was the fact that if there is only AUD in the account, and you spend overseas in USD, than its converted at the HSBC rate, not the Visa Daily rate.

I think this applies to the 10 currencies on the card. If its any other currency, then its converted at the Visa Daily rate.

To me this is just way tooo complicated, and the product description/terms, is really hard to follow. Plus when asking questions of the HSBS helpdesk (online messaging) they never answer the question you ask.

 

[risaka]

I've been using the Everyday Global card and it's been a good substitute to ING Orange Everyday.
I find it's better to pre-load the foreign currency first before you start making withdrawal/purchases otherwise you AUD will be converted at the HSBC 'non-live' rates. T

 

[SeaWolf]

They seem to have added an interesting new feature at some point...

Earn 2% cashback on tap and pay under $100
Earn up to $50 cashback each month on eligible purchases when you tap and pay with Visa payWave, Google Pay or Apple Pay under $100.

There's a few extra T&Cs, it has to be an AUD$ transaction within Australia and it doesn't work for Government transactions (including public transport).

I'm a bit curious about how this account compares to TransferWise in terms of the exchange rates. Is there any tool somewhere that shows you what the HSBC exchange rates would be if you converted currency within the account?

 

[Mr_Orange]

They seem to have added an interesting new feature at some point...

There's a few extra T&Cs, it has to be an AUD$ transaction within Australia and it doesn't work for Government transactions (including public transport).

I'm a bit curious about how this account compares to TransferWise in terms of the exchange rates. Is there any tool somewhere that shows you what the HSBC exchange rates would be if you converted currency within the account?

Not that I have seen. My RM told me that generally the rates were not competitve with the likes of OFX and Transferwise but that he could request a 'price match' if I emailed him details of the rate offered elsewhere.

I haven't taken him up on the offer because it is much easier to just use OFX or Transferwise in the first place, especially given how quickly transfers settle.

 

[Long_20]

Just got this account to take advantage of the 2% cashback and $100 bonus.