Quite simply, just give fee free FX to the current account.
Or launch a paid plan for the current account which includes it.
1 Like
Hardly surprising to be quite frank. Never saw the point of it.
Wonât be missed too much, but allow us to top up HSBC Global Money with a debit card ⌠Zing was useful for that, as it allowed debit cards from most countries - unlike Revolut.
The free ÂŁ500/month conversion was handy too.
I really hate news like this. It gets briefed to the press before the staff even know and then the customer.
Nearly opened an account last month in case it came in handy. Glad I didnât bother! Shame for those who got the first customers perks I guess, though not sure if they ever really kicked in
Is this the end for Zing ? HSBC shuts down Wise competitor Zing
1 Like
I literally just opened a account!
To move money over!
1 Like
(For small amounts) Zing has better exchange rates than Revolut, Wise, etc⌠Been using it while travelling, will miss it.
1 Like
ÂŁ170m blown on that
4 Likes
I got ÂŁ40 out of it at least.
3 Likes
The stupidity of it all, is they launched this at pretty much the same time they launched Zing
1 Like
Wow, had no idea it was 170mn.
1 Like
Or 0.7% of their most recent annual profit figure (ÂŁ24bn group profit in 2023).
I canât imagine a ÂŁ170m failed project is really going to impact them all that much.
Itâs very much a question of perspective. For Monzo, it would be existential. For HSBC, itâs an unfortunate inconvenience.
1 Like
Itâs a shame. A Reuters article suggests around 400 potential job losses.
Interesting. I wonder if this âcost cutting exerciseâ is also behind Premier changes. At least I got the Zing Card.
For what it worth the HSBC version has been really decent to use, I hope doesnât follow suit or be made a premier offering.
Easiest ÂŁ120 I ever made. Never used the card once.
A mere ÂŁ60 for me and will equally miss the free transfers. Oh well.
2 Likes