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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 an HSBC customer, 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?

First, you need a current residential address in the United States, Argentina, Armenia, Chile, Isle of Man, Switzerland, Uruguay or Venezuela.

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

Important Service Announcement

Effective September 12, 2021

If you have been notified that your account is being transitioned to another financial institution, you will no longer be eligible to open an HSBC Global Money Account.

Last year, we at HSBC Bank USA, N.A. (“HSBC” or “the Bank”) set out on a journey to be able to better cater to our clients’ needs globally and from a wealth management perspective. You may have seen a recent announcement from us about the next phase of this plan. As a result of this new focus for HSBC, we are streamlining parts of the Bank. This decision was not made lightly, but is necessary for us to best position the Bank for the future. As part of this, some of our branches, clients, and employees will be transitioned to another financial institution in the coming months. 

More details and FAQs can be found at us.hsbc.com/GoingForward

I would like to open a Global Money Account, but I don’t see the option in the HSBC US Mobile Banking App1. Why?

To be eligible to open an HSBC Global Money Account in the US Mobile Banking App, you must be an existing customer of HSBC Bank USA, N.A., have an eligible US deposit account, and a current residential address in one of the following countries: United States, Argentina, Armenia, Chile, Isle of Man, Switzerland, Uruguay or Venezuela

This is due in accordance with cross border restrictions imposed by various local laws or regulations in these countries. The information provided through the HSBC Global Money Account is not intended for use by persons located in or resident in jurisdictions where the distribution of such may be considered marketing or promotional and where that activity is restricted. We apologize for the inconvenience.

For more information about opening a Global Money Account (subject to your residential country’s restrictions), contact us using Chat or call 855.807.4299. 

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 can I send money to with Global Money Account? What are the supported currencies I can send with Global Money Account?

You could send money to your or someone else’s HSBC accounts if you/they are enrolled in Personal Internet Banking in receiving markets including Australia, Bahrain, Bermuda, China*, Egypt, Greece, Hong Kong, India, Indonesia, Malta, Oman, Philippines, Qatar, Singapore, Taiwan, United Arab Emirates, United Kingdom,  United States, Vietnam, Sri Lanka, Channel Islands and Isle of Man, and Jersey (HSBC Expat).

In addition, you can send money to your HSBC accounts1,2 in: France and Malaysia. You must link the eligible accounts by setting up Global View1,2 to send money to your account in these countries. Learn how to set up Global View on Global Transfer page.

Currencies supported for sending are AED, AUD, BHD, CAD5, CHF, CNY4, DKK, EUR, GBP, HKD, INR, JPY, KWD, NOK, NZD5, SAR, SEK, SGD, USD and ZAR.

*You can transfer up to USD 4,800 to China using your Mobile Banking app. For transfers of over USD 5,000, please use online banking. The beneficiary will be required to log in to their account and complete a "Balance of Payment" declaration that details the purpose of payment and source of funds for the transfer to be completed.

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 can I hold 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.

Can I send funds directly to my Global Money Account from outside of the U.S.?

No, at this time transfers to the Global Money Account can only be made from an eligible US deposit account.

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.

You can view your HSBC Global Money Account statements on the Mobile Banking App by clicking on any of the currencies in your HSBC Global Money Account > View more > View statements. These statements can also be found in your Personal Internet Banking by clicking on My HSBC > My documents.

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 contact us through Web Chat or 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. Go to your Move Money 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 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. Go to your Move Money tab.
  3. From there, select Global Money Account - Convert or withdraw 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® and AndroidTM operating system. 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.

Will there be any potential loss when I convert currencies in my Global Money Account?

Changes in FX rate could result in a loss of value when exchanging currencies because the exchange rate is refreshed throughout the day, and may at times be unfavorable when compared to the rate at initial conversion.

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 Chat, the number on 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 Chat, the number on your back of your card, or call 855.807.4299.

Data rate charges from your service provider may apply.  HSBC Bank USA, N.A. is not responsible for these charges.

2 Global View and Global Transfers are only available for HSBC Premier and HSBC Advance clients and are not available in all countries. Foreign currency exchange rates and local country limitations may apply. Transfers from HSBC accounts from outside the U.S. may be subject to transfer fees. Personal Internet Banking is required to access Global View and Global Transfers. Access to U.S. Personal Internet Banking through Global View from outside the U.S. may be limited.

3 Accounts eligible for Global Transfers include all HSBC deposit accounts, except for CDs.  All HSBC accounts, however, are viewable within Global View.

4 CNY is not supported if receiving country is China.

5 Any Global Transfers from the Global Money Account to Canada, Mexico and New Zealand are not allowed.

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

Android is a trademark of Google LLC.

Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.

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