HSBC Global Money Account launched

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HSBC have finally launched their Global Money Account in the UK.
It 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.
I know that many people here are interested in foreign currency accounts and thought this might be of interest.
More details at https://www.hsbc.co.uk/international/travel-money-card/
I know that many people here are interested in foreign currency accounts and thought this might be of interest.
More details at https://www.hsbc.co.uk/international/travel-money-card/
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On the downside: you can’t have DDs or SOs, so no use for paying utility bills for your property abroad. It also doesn’t appear to be possible to receive in foreign currency - everything must start off with GBP. Sadly but not unsurprisingly there is no interest for positive balances.
HSBC €22.97
Starling €22.90
Fineco €22.93
Wise: €22.67
Wise rates are getting more and more uncompetitive - though they do offer more services (SO, DDs, receiving foreign currencies).
A bit of an annoyance is that you cannot check the HSBC exchange deal unless you actually have sufficient GBP (or other currency) in the Global Money account. All the competitors do allow checking regardless of your GBP balance.
I think for now, I will stick with Starling and Fineco, but once HSBC offer incoming payments in foreign currency, I could be tempted to switch. Mind you, they say "pay no fees on all international payments made via Global Money until 31 March 2023", so the account might not be as attractive as it seems now.
The information available on the HSBC website about the Global Money account is a bit confusing, and there seem to be two sets of web pages for the same account - one in the Expat section, and one in the International Money section. For example, it says one one page that I need the HSBC Expat app but I am happily using the normal HSBC UK app, which it confirms on another HSBC page.
Bottom line though: a big thumbs up from me if anyone is looking to send one-off payments abroad. Also looks really good as a travel card for the countries listed above (up to £500 or equivalent currency cash withdrawal/day)
FSCS cover on one website (UK):
and Jersey compensation scheme on the other (Expat site)
I was planning to play with currency exchange to establish rates during my lunch break (now) but Daliah has already done so (thanks).
Although the card was easy to order and immediately available on the Apple Wallet, I would have preferred if somehow they could have linked this account to my existing Debit Card, especially as it is also a Visa instead of MC.
I have not read the in and out but would be lovely if this card would also get free ATM usage at HSBC worldwide ATM (where the local HSBC would normally charge a fee for non customer usage), so does anyone know?
You can transfer money to external accounts/payees - you just need to set up a payee under the Global Money section under the "Pay and Transfer" tab
Edited: you need to select send money Internationally from further down the page, completely missed first time around