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FAQs for HSBC Global Money Account

Getting started

What is an HSBC Global Money Account?

Global Money Account is an account that can be used to handle eight major currencies, so you can deposit money, convert it and send it to anyone, near or far. 

It's also an easy-to-use instant payment service that lets you manage, convert and send money in different currencies securely and cheaply.

Want to open a Global Money Account? Visit our products page to find out more.

Who can open a Global Money Account?

You may be able to open a Global Money Account if you already have an eligible account with HSBC, including:

1. One valid account (see list of valid accounts below) in your name 

OR

2. A joint account where only one signature is required

The following accounts are eligible for moving money into an HSBC Global Money Account: 

  • Basic Banking
  • HSBC Direct Checking
  • Choice Checking
  • Advance Checking
  • HSBC Premier
  • HSBC Online Money Market Savings
  • HSBC Premier Savings
  • HSBC Advance Savings
  • HSBC Everyday Savings
  • HSBC Promo Advance Savings
  • HSBC Promo Premier Savings
  • HSBC Direct Savings

How is the HSBC Global Money Account different from a traditional bank account?

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

  • It is only available in the HSBC Mobile Banking App
  • HSBC Global Money Account is a pre-paid mobile-only account, which means it is used for online transactions through a smartphone. 
  • Checks and cash cannot be directly deposited into this account. You can only transfer in/out of the wallet using an eligible account.

Where is my money stored?

Money you move into HSBC Global Money Account is held by HSBC US, making it just as secure as money in any other HSBC account.

These currencies are insured by the FDIC for up to the maximum limit of USD250,000. Learn more about the FDIC.

Funds deposited into your account are subject to exchange rate risk, which may adversely impact the amount returned in US Dollar terms. It is strongly recommended you understand these restrictions before entering into any foreign exchange transaction.

About the account

Who will be eligible to receive Global Money Account transfers?

All HSBC customers must be enrolled in Personal Internet Banking in receiving markets.

The receiving markets include Bahrain, Bermuda, China, Egypt, Greece, Hong Kong, India, Indonesia, Malta, Oman, Philippines, Qatar, Singapore, Taiwan, United Arab Emirates and United Kingdom.

Do I earn interest on the money in my Global Money Account?

No. To earn interest, you can transfer the money to an HSBC Savings account.

Information on these accounts can be found on our dedicated Savings Accounts page.

Where can I find the Terms and Conditions for my Global Money Account?

You can find the Terms & Conditions by clicking on Profile and then Important information within the HSBC Mobile Banking App.

What currencies are currently available in an HSBC Global Money Account?

You could hold Australian Dollar (AUD), Canadian Dollar (CAD), Euro (EUR), Hong Kong Dollar (HKD), New Zealand Dollar (NZD), Singapore Dollar (SGD), Sterling (GBP) and United States Dollar (USD) with a Global Money Account.

More currencies will be added over time, so be sure to check back periodically.

Please visit the Global Transfer page for more information about the available transacting currencies and receiving countries.

 

Account management and transactions

I need to check my HSBC Global Money Account, but I don't have my mobile phone with me. How can I check it?

If you do not currently have access to the HSBC Mobile Banking app, you can access your account by contacting us using Live Chat or calling us at 855.807.4299.  

How do I check my currency balances?

You can view your currency balances in the HSBC Global Money section of the HSBC Mobile Banking app.

How do I add money?

  1. Log on to the HSBC Mobile Banking App using your security device passcode or biometrics.
  2. Select Move Money.
  3. Select Global Money - 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 transfer money with no exchange rate only if the currency is the same.

7. Review and select Confirm.

Note: Once you select Confirm, the transaction cannot be cancelled.

How do I convert currency?

  1. Log on to the HSBC Mobile Banking app using your security device passcode or biometrics.
  2. Select Move Money.
  3. Select Global Money - 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 select Confirm.

 

Note: Once you select Confirm, the transaction cannot be cancelled.

How do I add payees?

Payees are registered accounts to which you can make transfers without the need to input their details each time. To add payees, please follow the steps:
  1. Log on to the HSBC Mobile Banking App using your security device passcode or biometrics.
  2. On the Account tab, select Pay HSBC customer or
  3. On the Move Money tab, select Global Money – Pay HSBC customer.
  4. Select the Global Money Account from which you would like to transfer.
  5. On the Transfer money to screen, select Add a new payee.
  6. Follow the onscreen instruction to input payee’s details such as payee’s country and sort code, etc.
  7. On Verify your payee’s information screen, confirm the payee’s name and click Continue.
  8. Complete the authentication process and the payee is saved.

Why does my weekend transaction include an additional premium?

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

How do I register for an HSBC Global Money Account?

  1. Log on to the HSBC Mobile Banking App using your security device passcode or biometrics.
  2. Select HSBC Global Money.
  3. Follow the onscreen instructions. 

What devices can I use to make transfer with my HSBC Global Money Account?

To use the transfer feature of your HSBC Global Money Account you need to use your mobile device powered by iOS®. HSBC Global Money Account transfers are not currently supported on tablets.

Will I receive a statement for my transactions?

Your HSBC Global Money Account will be automatically updated any time there are transfers in or out. We will provide you with a periodic statement that shows the transfers performed over a set time period.

If you think your statement or receipt is wrong, we must hear from you no later than 60 days after we sent you the first statement on which the error or problem occurred.

If you notice an unauthorized transfer recorded on your periodic statement, please report this within 60 days of the date of the statement to avoid being liable for subsequent transfers.

Security

How safe is a Global Money Account?

As HSBC Global Money is part of the HSBC Mobile Banking App, all of same security measures in the app are used to protect your account. For details, please refer to the HSBC security statement.

What if I lose my phone?

If you lost your phone, or feel your phone has been compromised, please contact HSBC Customer Service using Live Chat or the number of the back of your card, or call 855.807.4299.

I think I've been hacked. What should I do?

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

To do this, please contact us using Live Chat or the number of the back of your card, or call 855.807.4299.

®iOS is a trademark or registered trademark of Cisco in the U.S. and other countries.

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