HSBC Global Money Account launched

Financial Chat
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HSBC have finally launched their Global Money Account in the UK.

Comes with a free multi-currency debit card and the account allows you to hold balances in all the following:

GBP - pound sterling
EUR - euro
USD - US dollar
AUD - Australian dollar
ZAR - South African rand
PLN - Polish zloty
CAD - Canadian dollar
NZD - New Zealand dollar
CHF - Swiss franc
SEK - Swedish krona
HKD - Hong Kong dollar
AED - UAE dirham
CZK - Czech koruna
NOK - Norwegian krone
DKK - Danish krone
SGD - Singapore dollar
JPY - Japanese yen
CNH - Chinese yuan renminbi

Note: You currently need to be an HSBC customer to open an account.

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I’ve opened one!

It’s slightly strange, on first impression, that you have both your existing HSBC current account and a separate GBP balance in Global Money, but the account opening was quite easy at least.

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What are the options for funding non-GBP currencies?

Do you get account details for each currency enabling locals to send you money without doing an international transfer?

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They allow conversion from your GBP global money account or transfer from one of your own HSBC Currency Accounts (if you have one) only.

There is no ability to allow third parties to pay you in other countries, unlike HSBC Currency Accounts.

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Thanks.

Aside from link to HSBC currency accounts, do you see any benefits above Wise or Revolut?

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While it has the 2 logo’s (still… why?) at least they’re both not red and the biggie is half-transparent. All ready for the next trip to ?:

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The only big benefit, really, is that the whole thing is FSCS protected.

You can also spend in unsupported currencies using the GBP balance and that will convert at the Visa wholesale rate - so pretty good, and better than HSBC’s own exchange rate for major currencies.

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This is actually impressive for a so called legacy bank. Really good addition for HSBC customers.

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The HK Global Currency card is like this

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That’s a lovely card, I wonder if it looks as good IRL?

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Sorry what is IRL

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In real life

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Sorry, Internet slang.

Does anyone have a real copy of this card, be interesting to see if it looks as good in person as the Apple Pay version does

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I will post it later, I have the card

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Looking to open this, will I be credit checked? I’m already a current account holder.

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No credit checks as far as the flow went. Done in a few taps.

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For existing customers, it seems not.

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The FAQ includes

In future you’ll be able to receive foreign currency into your account.

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