FAQs for HSBC Global Money Account

The Global Money Account is a mobile-only account that can be used to handle up to 19 currencies securely from your HSBC Expat Mobile Banking app.

It's also an easy-to-use payment service that lets you deposit money, convert it and send it to HSBC customers and other banks globally.

If you have one of the accounts mentioned below, you may be eligible to open a Global Money Account:

1. An eligible and active account in your sole name (see list of eligible accounts below)

OR

2. An eligible and active account in joint names, where only one signature is required.

The following accounts are eligible for moving funds into a Global Money Account:

• Expat Bank Account
• Online Bonus Saver
• Quarterly Bonus Saver
• Currency Savings Account
• Little Expat Savings
• 30 Day Notice Account
• Online Saver Account
• Saver Account

You can only hold one Global Money Account at a time across all HSBC markets.

If you wish to hold your Global Money Account in your local market, you will first need to close your HSBC Expat Global Money Account. To close your account, please give us a call on +44 1534 616313.

Key features that differentiate a Global Money Account from your traditional bank account:

• it is only available on the HSBC Expat Mobile Banking app. This means that you can only make payments and view your balances on your mobile device, not on a desktop
• you can add funds to your wallet from your HSBC Expat current and savings accounts
• cheques and cash cannot be directly deposited into this account. You can only transfer in/out of the account using an eligible account (see 'Who can open a Global Money account?')

At this time, Global Money accounts cannot receive payments from outside of HSBC Expat or from other customers.

Payments to other Global Money Accounts, First Direct and M&S Bank are not supported at this time.

Money you move into your Global Money Account is held by HSBC Expat which is a division of HSBC Bank plc, Jersey branch.

This means that funds will be subject to the Jersey Bank Depositor Compensation Scheme which offers protection for eligible deposits of up to £50,000.

The maximum amount of compensation in any 5-year period is capped at £100,000,000. Full details of the scheme and banking groups covered are available on the States of Jersey website at gov.je/dcs, or on request.

No. To earn interest, you can transfer the money to an HSBC Savings account. Learn more about our savings options on our dedicated page.

You can find the terms and conditions by going to Profile and then Legal within the HSBC Expat Mobile Banking app.

The following currencies are available to hold in your Global Money Account. More currencies will be added over time, so be sure to check back periodically.

British pound sterling (GBP), United States dollar (USD), Euro (EUR), Hong Kong dollar (HKD), United Arab Emirates dirham (AED), Australian dollar (AUD), Canadian dollar (CAD), Chinese yuan renminbi (CNY), Czech Koruna (CZK), Danish krone (DKK), Japanese yen (JPY), New Zealand dollar (NZD), Norwegian krone (NOK), Singapore dollar (SGD), South African rand (ZAR), Swedish krona (SEK), Swiss franc (CHF), Polish Zloty (PLN) and Thai Baht (THB).

You can find and download your monthly statements in the app. Just tap on your Global Money Account, select View more and then View statements. You can also view your transaction history under your account activity. 

If you think your statement or transaction history is wrong (whether by error or suspected fraud) please notify us immediately.

If you do not notify us within 30 days of the date of the statement on which the error or problem occurred, you may be liable for the affected transactions or any subsequent transfers.

If you’ve already opened a Global Money Account in another country or territory, you can still open one with HSBC Expat. Please check the FAQs and eligibility rules in each HSBC country or territory as they may vary.

You can access your Global Money Account from your HSBC Expat Mobile Banking app.

There is no cost for holding the account and transactions are fee-free.

All foreign currency conversions use the HSBC Exchange Rate, which is quoted to you at the time of making the transfer.

The HSBC Exchange Rate is a live rate during trading market opening hours. When markets are closed, it's based on the most up-to-date market rate.

The HSBC Exchange Rate applies to any foreign currency transactions you make using Global Money. This rate is presented to you before you complete a foreign currency transaction.

The HSBC Exchange Rate is a live rate during trading market opening hours. When markets are closed, it's based on the most up-to-date market rate.

The HSBC Exchange Rate includes the HSBC cost rate and a foreign currency conversion margin. This rate is quoted to you before you complete any foreign currency transaction using Global Money.

No. The rate shown at the time of your transfer is based on the most up-to-date market rate and includes any currency conversion charges.

Rates refresh regularly to ensure they are aligned to market exchange rates. You will be asked to confirm the new rate before you can proceed with the transaction.

It is important to us to enable you to transact on a day and time that works for you. However, live rates are only available during market hours. We therefore allow an additional premium to account for any exchange rate fluctuations during weekends.

If you do not currently have access to the HSBC Expat Mobile Banking app, you can contact us on +44 1534 616313.

You can view your currency balances in the Global Money Account section of the HSBC Expat Mobile Banking app. Please note that your balances will only be visible on your mobile device, and cannot be seen on a desktop.

A summary of your Global Money balance will appear on your usual HSBC Expat composite statement.

For full transaction information, you can access your Global Money statements at any time via the HSBC Expat Mobile Banking app by selecting the relevant Global Money account, clicking 'view more' and then 'statements'.

We regret that bespoke balance statements and certificates of interest are not available for this account.

1. Log on to the HSBC Expat Mobile Banking app.
2. Go to your Pay & Transfer tab.
3. From there, select Global Money Account - Add money.
4. Select the account the money will be transferred from.
5. Enter the amount of money to be added to the Global Money Account.
6. Select the currency for the money to be added in.
   Note: You can skip this step for same-currency transfers.
7. Review and select Confirm.
   Note: Once you select Confirm, the transaction cannot be cancelled.

1. Log on to the HSBC Expat Mobile Banking app.
2. Go to your Pay & Transfer tab.
3. From there, select Global Money Account - Convert or send money.
4. Select the currency the money will be converted from.
5. Select the currency to convert to.
6. Input the amount of currency to add.
7. Review the conversion and exchange rate and select Confirm.
   Note: Once you select Confirm, the transaction cannot be cancelled.

You can close your account by calling us on +44 1534 616313. Please ensure you've transferred all funds from your Global Money Account prior to calling us.

If there is still money in your account upon closure, we'll look to transfer each currency into matching domestic currency accounts, e.g. if you hold USD, we'll offer to transfer the funds into your domestic USD account.

If you don't have a matching domestic currency account, we may charge you a foreign exchange conversion margin to convert the money into one of your other currency accounts.

There are two types of payment that can be made from the Global Money Account.

To make a payment to another HSBC account, you can either:

• select the Global Money account you want to send funds from, then click on Convert or Send Money
• visit the Pay & Transfer tab and select Global Money Account: Convert or send money

From here you can make instant payments to other HSBC accounts around the world. For more information on this service, visit our International Transactions page.

To make a payment to an account outside HSBC, you should visit the Pay & Transfer tab and select Send Money Internationally. From here you can select your Global Money account as the debiting account.

For more information on making a payment from the Global Money account, please see our International Transactions page and our Global Money Transfers FAQs.

If your payment was sent in one of the Global Money Account supported currencies, you will receive the full amount back. If it was sent in an unsupported currency, you may get less back due to foreign exchange conversions.

Supported currencies are:

Global Money Account is part of the HSBC Expat Mobile Banking app, so your account is protected by all of the same security measures as in the rest of the app.

If you've lost your phone, you can call us on +44 1534 616313 for support. We'll be able to remove the phone from your banking profile so it cannot be used to access your HSBC Expat accounts, including your Global Money Account.

Alternatively, if you have the HSBC Expat Mobile Banking app on more than one device, you can log on to one of your other devices and remove access to the lost or stolen phone yourself.

If you suspect that your account has been compromised, or someone knows your password, please reset your password and security measures immediately.

Alternatively, you can call us on +44 1534 616313 and we'll be able to do this for you.

If you've lost your phone, please call us on +44 1534 616313 for support. We'll be able to remove the phone from your banking profile so it cannot be used to access your HSBC Expat accounts, including your Global Money Account.

Alternatively, if you have the HSBC Expat Mobile Banking app on more than one device, you can log on to one of your other devices and remove access to the lost or stolen phone yourself.

If you suspect that your phone has been compromised, please reset your password and security measures immediately.

Alternatively, you can call us on +44 1534 616313 and we'll be able to do this for you.