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HSBC Global Money Account

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  • deiveed

    Does anyone know if having a Global Money Account with HSBC Expat OR HSBC US prevents you from having one with HSBC UK?

    I got “You already hold a Global Money Account. You can take a look at our support tab for more information. Reference 480003.” when I tried to open one in the UK app.

    Interestingly Expat Global Money Account appears as a different country in the global accounts/transfers list in online banking.

    DJ

    I have the same error when trying to open the account in the UK.

    Tempting to shut the Expat version at some stage, since it doesn’t offer a debit card.

    John

    It may offer a debit card sooner or later.

    I have the HSBC Hong Kong account and it works like this Global Money Account, except that the exchange rates are awful if exchanging currencies you already hold. It’s fine if you are exchanging at the point of spending.

    Maples

    Opened the account and was quite simple. Surprised how easy it is and how you can manage the card in the app – quite a shocker for HSBC to offer this feature. Will be using this abroad as my main account is HSBC – no real use other than for withdrawing cash abroad. I wonder if I convert to Euro first if it’ll deduct cash withdrawals from that balance first or default to GBP.

    orcadian1

    Nobody on HfP is discussing the Spreads HSBC charge to convert GBP to USD on their Global Money Account.
    What if I want to transfer my own USD from a different bank – eg Revolut – to HSBC Global Money account?
    Seems like HSBC don’t allow this.
    To pay into Global Money Account HSBC told me I have to use the app on my phone.
    When I log into my app The ONLY pay-in options Global Money offer is a transfer from one of my HSBC GBP accounts.
    So I have to pay HSBC Spread from GBP to convert. I CANNOT switch GBP using another option – like Revolut, or Interactive Brokers – at a low spread charge and pay that USD into my HSBC Global Money account.
    If you already hold USD in another account with another bank, this makes HSBC Global Money account a very unattractive option.

    FearlessTraveller

    Do you think that, at some point, you will be allowed to deposit foreign currencies directly on the card, or will it have to go through your main HSBC account?

    Luca M

    Payments from 3rd party banks are not YET possible but HSBC has confirmed the blurb talking about the account that this will be possible in the future so that you will be able to send your USD (or other currencies) into your Global Money wallet at the same value (unless your US banks charges for international payments and/or HSBC decide to charge for some types of income payments (SEPA from EU accounts will not be chargeable

    Zana

    Anyone who applied in the past 24 hours have problems ordering the card?

    I got to the “order card” screen and when I pressed the button that says “order card”, nothing happens !?

    memesweeper

    I’ve logged in to my US HSBC current account previously and linked my UK account details.

    Magically, the US account details also appear in the UK app.

    Now added the Global Money account to my UK app. Immediately turned some GBP into USD. And — this is what I really appreciate — applied my USD Global balance to my US USD account.

    Just for once, HSBC manage something that’s digital and slick. Very impressed. Wise, for now, is on the back burner.

    DJ

    @deiveed

    You can now order a card from the Expat mobile banking app.

    The card has the same design as the UK one, obviously without the UK in the logo.

    deiveed

    @deiveed

    You can now order a card from the Expat mobile banking app.

    The card has the same design as the UK one, obviously without the UK in the logo.

    Yes – I already have a debit card from my Expat global money account. I am also trying to open one in the UK and transfer the balance from my UK USD & EUR accounts over. Fares for flights to and from the UK are always deemed remitted onshore even if the ticket is issued by an overseas airline and denominated in another currency — so it’s best to only use UK cards for those.

    points_worrier

    @deiveed

    You can now order a card from the Expat mobile banking app.

    The card has the same design as the UK one, obviously without the UK in the logo.

    Yes – I already have a debit card from my Expat global money account. I am also trying to open one in the UK and transfer the balance from my UK USD & EUR accounts over. Fares for flights to and from the UK are always deemed remitted onshore even if the ticket is issued by an overseas airline and denominated in another currency — so it’s best to only use UK cards for those.

    You can’t have more than one global money account, even if you have other accounts with multiple Hsbc institutions. It says so in the FAQ. I’ve stuck with U.K. given they guarantee free transfers, and the expat one only guarantees until march 2023.

    brian

    Physical card arrived today.

    I still don’t think I’ll get great use out of this until I can transfer directly into the account from other sources. For the time being I’ll continue to use Starlings Euro account for this but hopefully at some point in time it may become redundant.

    SamG

    I applied for this and used it to transfer some SGD into my SG HSBC account. Rate was approx same as Wise and it was a very slick experience. Not a major lifechanger considering I’d still use Curve or Chase for overseas spending but simplifies my life a tiny bit 🙂

    I closed all my Expat accounts once I’d finished with my other dealings with them, for me I don’t see any value there vs Wise due to their fees etc

    points_worrier

    I applied for this and used it to transfer some SGD into my SG HSBC account. Rate was approx same as Wise and it was a very slick experience. Not a major lifechanger considering I’d still use Curve or Chase for overseas spending but simplifies my life a tiny bit 🙂

    I closed all my Expat accounts once I’d finished with my other dealings with them, for me I don’t see any value there vs Wise due to their fees etc

    Do you have expat fees? Mine are free. That is the only reason I have kept it!

    SamG

    Not ongoing but fees to make payments IIRC, even from the GBP account? I couldn’t think of a scenario I’d use it vs Wise so I cancelled during a life simplification drive 🤣

    RasheeSanook

    Are there an HSBC USA branches/ATMs left as they sold their East Coast business to ex-RBS Citizens Bank?

    This seems like an interesting product. I currently have an HSBC expat account in USD for the USD debit card and unlimited free USD cash withdrawals.
    This product is beneficial because I would not get charged for spending in non-USD amounts.
    But, I cannot receive US payments from others, I can only charge it from my own account it seems.

    Can you clarify if HSBC US ATMs (I know you can find them in NYC but not everywhere else) do charge you for usage? I am referring to ATM operators fee that US banks charges to all Non customers (e.g. aside of foreign cards, even a Wells Fargo customer using a chase ATM will be charged by Chase), but for example Chase US will let Chase UK customers use the STM for free, as does Santander US for some Santander UK customers.

    Luca M

    Are there an HSBC USA branches/ATMs left as they sold their East Coast business to ex-RBS Citizens Bank?

    I believe they have retained the wealth / private side of the business and branches, I think 3 are in NYC, but also, retail branches are still being converted from HSBC to Citizens and possibly those will have a similar “special fee free” management of international HSBC cards as the way Bank of America seem to allow UK MBNA card free ATM usage at their US branches

    gt94sss2

    Are there an HSBC USA branches/ATMs left as they sold their East Coast business to ex-RBS Citizens Bank?

    https://www.us.hsbc.com/wealth-center/locator/

    If you have a HSBC USA account, you can also use the Allpoint ATM Network for free.

    Scottpat78

    I walked past an HSBC branch with ATM near to 42nd & 6th in NYC. It didn’t take ApplePay (that I could see) and I didn’t have my new card, so couldn’t try it.

    I’m home now and my physical card has arrived. I’m headed back to US next week with work so I will try a withdrawal there to see what I am charged.

    Scottpat78

    According to the HSBC website, I can use an Allpoint ATM surcharge free, and there are plenty of them near where I am headed, so hoping to report back soon.

    Any actual ATM fee I have to pay, and there are no HSBC ATM in the Midwest, so I’ll try out an Allpoint one.

    jonnyfly

    App errors:
    Anyone else getting this:

    We’re sorry
    Sorry, something went wrong. Please try
    again later (reference COS002).

    …yesterday and today about 8am, trying to access the GMA part of the HSBC app on iPhone, after about 30s of blank screen?

    Has worked at other times.

    Scottpat78

    I just tried it and all OK for me. I have balance in both AUD & USD and both worked OK.

    App errors:
    Anyone else getting this:

    We’re sorry
    Sorry, something went wrong. Please try
    again later (reference COS002).

    …yesterday and today about 8am, trying to access the GMA part of the HSBC app on iPhone, after about 30s of blank screen?

    Has worked at other times.

    Scottpat78

    I’ve just signed into my HSBC app and I can now send money internationally to pretty much any country fee free it seems – including non HSBC accounts.

    Receiving money still seems to be limited to the GBP£ account number/sort code – but it does have a IBAN & BIC number on the GBP£ account along with UK sort code & account number.

    Seems like a great expansion of the original app capabilities.

    Zana

    Has anyone had success moving non-GBP in an existing HSBC account into the UK Global Money Account?

    I tried to move some AUD from my HSBC AU account into the UK Global Money account via “Global Transfers” and the only option is to get it converted to GBP first?

    Thanks!

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