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Credit Cards

Frequently asked questions (FAQ).

Application eligibility

What is the criteria to apply for an HSBC credit card?

  • All applicants must be at least 21 years of age. 
  • For Singaporeans or Permanent Residents (PR), a minimum annual income of SGD30,000 is required.
  • For self-employed and commission-based Singaporeans or PR, a minimum annual income of SGD40,000 is required. 
  • For foreigners residing in Singapore, a minimum annual income of SGD40,000 is required. 
  • A minimum annual income of SGD120,000 is required for all applicants of HSBC Visa Infinite credit card. 
  • Supplementary card applicants must be at least 18 years of age.

What are the documents required?

For salaried employees for Singaporeans/PRs:

  • A photocopy of the front and back of your National Registration Identity Card (NRIC); and
  • Income document(s):

A copy of your eCPF statement contribution submitted via www.hsbc.com.sg/submitmyinfoincome (note that this will open in a new window and Singpass login is required); OR

Lastest 3 months' computerised payslip; OR

Latest Notice of Assessment with latest 1 month's computerised payslip

 

For self-employed and commission-based earners for Singaporeans/PRs:

  • A photocopy of the front and back of your NRIC; and
  • Last 2 years' Notice of Assessment

 

For foreigners:

  • A photocopy of the front and back of your passport; and
  • A photocopy of the front and back of your employment pass with at least six month's validity at the time of application; and 
  • Latest 3 months' computerised payslips OR latest Notice of Assessment with latest 1 month's computerised payslip

How many supplementary cards can I apply?

You can apply up to 5 supplementary cards and they are free for life.

Mobile application

How do I receive instant approval on my credit card application?

Download the HSBC Singapore app, select "Start my application" and apply using Myinfo via Singpass.

What criteria do I have to meet to get instant approval?

  •  You need to be a Singaporean or Permanent Resident living in Singapore
  •  You need to be new to banking with HSBC Singapore - that means you do not hold any joint accounts or existing HSBC credit cards, as a primary or supplementary cardholder
  •  You need to be a salaried employee for at least 6 months with your current employer

Your application is subject to HSBC's eligibility criteria, as well as prevailing regulatory guidelines.

I'm a foreigner and/or an existing HSBC customer. How do I apply for an HSBC credit card?

You can apply for an HSBC credit card via our online form which is available on our HSBC credit card website.

What is Myinfo and would I be able to edit pre-filled fields on the Myinfo portal?

Myinfo is a service that allows Singpass users to manage their personal data and to pre-fill online forms. You may review and confirm the accuracy of your information before submitting the application. To update information in non-editable fields, you may do so by accessing the Myinfo Portal or by approaching the relevant government agencies.

What should I do if I didn't register with Myinfo via Singpass?

Every Singpass user has a Myinfo profile. If you don't have Singpass, you may choose to do your credit card application using the online form.

I've applied via the HSBC Singapore app, but why do I not qualify for instant approval?

In some cases, we may require additional information from you and will need more time to process your application. We'll contact you at your mobile number within 3-4 working days, if necessary.

What happens if I don't receive an instant decision status after submitting an application using the HSBC Singapore app?

Please allow us more time to process your application. We will get in touch with you within 3-4 working days, if necessary.

Will I be notified with an email or hardcopy letter if the application I made via the HSBC Singapore app has not been successful?

You'll see a message at the end of the application journey informing you that your application is unsuccessful. Please note that no other notification will be sent to you.

How do I use my credit card for purchases after my application has been approved?

Upon approval, you'll be able to register for online banking within the same session. Once your registration is completed, you'll be able to view your online banking profile and use your credit card credentials (including your credit card number, expiry date and CVV) for online purchases immediately. Additionally, you can also link your credit card to Apple Pay or Google Pay for immediate use. Find out more.

Can I apply for a card via the HSBC Singapore app and not register for online banking?

Yes, you may register for online banking later when you've received your credit card and PIN. However, we strongly encourage you to complete the registration within the same session to make the experience as seamless as possible. It's really quick and the whole registration process takes less than 5 minutes to complete.

I exited the HSBC Singapore app before completing my application. What should I do?

If you have not submitted the application, you'll have to restart the application. If you have received an approved status but did not complete your online banking registration within the same session on the mobile app, you'll need to wait for your credit card and PIN to arrive in the mail before you can register for online banking.

Is there any time period I should avoid submitting an application through the HSBC Singapore app?

There is a daily system maintenance scheduled between 12am-8am for the Credit Bureau Singapore system, during which you won't be able to apply using the HSBC Singapore app. However, you can still apply via our online form, available on our HSBC credit card website, during this time period.

I would like to apply for a supplementary credit card. How should I do it?

SMS HSAPP SUPP <space> Name <space> NRIC to 74722 to apply. We will be in touch within 3 working days to assist with your application.

Is the HSBC Singapore app a secure way to apply for a credit card?

We strive at all times to ensure that your personal data is protected against unauthorised or accidental access, processing or erasure. We maintain this commitment to data security by implementing appropriate physical, electronic and managerial measures to safeguard and secure your personal data.

Card activation

How do I activate my HSBC cards?

For security purposes, you'll need to activate your new credit card(s). This can be done using either of the following:

  • Logging on to HSBC Singapore app

    For existing online banking customers, simply log on to the HSBC Singapore app and select the credit card account, followed by "View more" and "Manage cards".
    If you're new to the HSBC Singapore app,  download the app and register with the Singpass app. Find out more. Once you've successfully logged on to HSBC Singapore app, you can activate your credit card following the steps above.
  • Calling our hotline

You can call the relevant card activation hotline:

Premier
1800-227 8889 or (65) 6-227 8889 if you are overseas
Visa Infinite
1800-227 8811 or (65) 6-227 8811 if you are overseas
Advance / Revolution / Visa Platinum
1800-227 6868 or (65) 6-227 6868 if you are overseas
Others
1800-4722 669 or (65) 6-HSBC NOW (4722 669) if you are overseas.

You can call the relevant card activation hotline:

Premier
Visa Infinite
1800-227 8889 or (65) 6-227 8889 if you are overseas
1800-227 8811 or (65) 6-227 8811 if you are overseas
Premier
Advance / Revolution / Visa Platinum
1800-227 8889 or (65) 6-227 8889 if you are overseas
1800-227 6868 or (65) 6-227 6868 if you are overseas
Premier
Others
1800-227 8889 or (65) 6-227 8889 if you are overseas
1800-4722 669 or (65) 6-HSBC NOW (4722 669) if you are overseas.

How do I reset my phonebanking PIN?

For new customers or existing customers without a phonebanking PIN, please call 1800-4722 669 and have the following details to hand: NRIC, credit card number, debit card number or account number.

You will receive an SMS to your registered mobile number, so ensure your phone is to hand.

Virtual card

What is a virtual card?

A virtual card is a digital copy of your physical HSBC credit card in HSBC Singapore app. It displays your cardholder's name, credit card number, expiry date and CVV.

Please note, these details are masked by default in the HSBC Singapore app.

How do I use my virtual card?

You can use your virtual card to make online transactions with the credit card details.

How do I get a virtual card?

All HSBC Credit Cardholders can access a virtual card. You can use it as soon as your credit card application has been approved. To access your virtual card, you'll need to register for HSBC Mobile Banking.

Fees and charges

Where can I find out more about applicable fees and charges on my credit card?

What is your finance charge and how is it calculated?

We charge finance charge/interest from the date each transaction or charge is added to your account until the amount is paid off by the due date. It is calculated as follows:

  • the amount you owe us multiplied by
  • the interest rate of your credit card multiplied by
  • the number of days it takes you to make the full payment

Please also note the following:

  • minimum charge: SGD2.50
  • prevailing interest rate: 25.9% per annum
  • cash advance interest rate: 28.0% per annum

What is a late charge?

A late charge is imposed on your account if minimum payment is not posted into the account by the due date stated in your statement. The late charge is SGD55.

Cash advance and quasi cash (including cryptocurrencies)

Where can I get a cash advance?

Cash advances can be made at over 900,000 Visa/Plus ATMs (for Visa cardholders) and MasterCard/Cirrus ATMs (for MasterCard cardholders) in more than 120 countries/regions.

How much cash can I withdraw for a cash advance?

The amount of cash you can withdraw from your card account is subject to the cash limit we've set for your account, in relation to the status of your card account. You can find the cash limit for your account by checking your monthly credit card statement.

What are quasi cash transactions?

Quasi cash transactions represent the purchase of foreign currencies or items (including, but not limited to, casino chips, cryptocurrencies, money orders, lottery tickets and travellers cheques) which may be convertible to cash, and other such transactions as determined by us from time to time.

Quasi cash transactions are based primarily on Merchant Category Codes (MCCs). The following are identified MCCs with their respective descriptions:

a) 7802 - government-licensed horse/dog racing

b) 7995 - betting, including lottery tickets, casino gambling chips, off-track betting, and wagers at race tracks

c) 4829 - money order / wire transfer

d) 6050 - quasi cash / customer financial institution

e) 6051 - non-financial institution such as cryptocurrency, foreign currency, money order (not wire transfers), stored value card/load, and travellers cheque.

f) 7801 - government-licensed online casinos (online gambling)

Are there any fees specific to cash advance or quasi cash?

Quasi cash transactions are treated as cash advances and interest begins to accrue once your card has been charged.

Cash advances and quasi cash transactions incur a fee per transaction of 6% of the amount withdrawn, or SGD15, whichever is greater. Interest charges will also be levied at the prevailing cash advance interest rate (28% pa) on the amount withdrawn from the date of the transaction until the date repayment is made in full, or the next statement date, whichever is earlier.

Can I make cryptocurrency transactions?

Yes, you're able to make transactions related to cryptocurrencies with your credit card. However, these are typically processed with the Merchant Category Code 6051 and are classified as quasi cash transactions by HSBC. As such, prevailing cash advance fees and interest charges will be applicable on cryptocurrency transactions.

Which kinds of merchants could process transactions with a Merchant Category Code (MCC) related to quasi cash?

Some of the common scenarios where transactions are processed with an MCC related to quasi cash include:

  • transferring of money via a platform
  • acquiring cryptocurrency/bitcoin online
  • purchasing casino chips/credits at gambling related merchants

Based on transaction information in 2020, some common merchants who processed transactions with an MCC related to quasi cash include Western Union, TransferWise, and Coinbase. However, please note that the type of MCC is dependent on how merchants set up their payment terminal (which may change from time to time).

How can I tell which merchant transactions would be subject to a cash advance fee?

Depending on how merchants have classified their business, the Merchant Category Code (MCC) would then be assigned by the acquiring bank/scheme (which may change from time to time).

You'll need to seek clarification directly from the merchant on what the MCC will be (typically a four-digit code) and see if it falls under the list of MCCs which HSBC classifies as quasi cash transactions.

Will I have to pay a cash advance fee if my cash advance/quasi cash transaction was made when the account is in credit?

Yes, the prevailing cash advance fees and interest charges will still be applicable.

Do quasi cash transactions earn rewards points or rebates?

Rewards points or rebates are only earned on purchases of goods or services. Quasi cash transactions do not qualify as such, and therefore earn no rewards points nor rebates.

Dynamic Currency Conversion (DCC)

What is Dynamic Currency Conversion (DCC)?

Dynamic Currency Conversion (DCC) is a service offered at selected ATMs located overseas and used by certain merchants and service providers (who may be located overseas or online). DCC converts a foreign currency transaction into the currency of your credit card account at the point of sale. The currency of your card account is Singapore dollars if you have a Singapore dollar issued credit card and US dollars if you have a US dollar issued card.

What happens if the transaction is converted via DCC?

The merchant will convert the transaction amount into the currency of your card account, using a foreign exchange rate determined by the relevant merchant or DCC service provider. This rate may differ from the foreign exchange rate determine by Visa, MasterCard or other relevant card scheme associations.

All transactions on HSBC credit cards which are converted via DCC will be subject to a fee of 1% of the converted transaction amount. This is a fee imposed by Visa, MasterCard or such other card scheme association (as the case may be).

My transaction was charged outside Singapore, will there be any DCC fee?

If the transaction was charged in the currency of your credit card account and the merchant performs their payment processing outside of Singapore, the DCC fee would be applicable to the transaction.

If the transaction was charged in a currency different from the currency of your card account, the foreign currency transaction fee would be applicable for the transaction instead. For details on tariffs and charges, please read more in the link below.

My transaction was charged in Singapore, will there be any DCC fee?

If the transaction was charged in the currency of your credit card account and the merchant performs their payment processing outside of Singapore, the DCC fee would be applicable to the transaction.

Do note that while some merchants operate locally, they may route their payment processing outside of Singapore. In such cases, Visa, MasterCard or such other applicable card scheme association (as the case may be) would classify the transaction as a foreign currency transaction.

 

For illustrative purposes:

Merchant provides a car transportation service in Singapore via a mobile application. While the merchant quotes its fares in Singapore dollars, their payment processing facilities are located in the Netherlands. When payment is made for the fare using your credit card, Visa, MasterCard or such other applicable card scheme association (as the case may be) will classify the transaction as a foreign currency transaction. If the fare for a ride is SGD10, there would be an additional DCC fee of SGD0.10 imposed and this will be reflected in your credit card statement.

My transaction was charged online, will there be any DCC fee?

If the transaction was charged in the currency of your credit card account and the merchant performs their payment processing outside of Singapore, the DCC fee would be applicable to the transaction. Do note that while some merchants operate locally, they may route their payment processing outside of Singapore. In such cases, Visa, MasterCard or such other applicable card scheme association (as the case may be) would classify the transaction as a foreign currency transaction.

 

For illustrative purposes:

Merchant provides an online platform for purchasing of books. While the merchant quotes its prices in Singapore dollars, their payment processing facilities are located in Japan. When payment is made for a purchase using your credit card, Visa, MasterCard or such other applicable card scheme association (as the case may be) will classify the transaction as a foreign currency transaction. If the price of book is SGD10, there would be an additional DCC fee of SGD0.10 imposed and this will be reflected in your credit card statement.

Is the DCC fee applicable on USD credit card?

If the transaction was charged in the currency of your credit card account (i.e, US dollars) and the merchant performs their payment processing outside of the United States and Singapore, the DCC fee would be applicable to the transaction.

 

For illustrative purposes:

Merchant runs a resort which is located in Maldives where transactions are typically charged in USD. While the merchant quotes its prices in US dollars, their payment processing facilities are located within Maldives and not the United States. When payment is made for the resort stay using your credit card, Visa, MasterCard or such other applicable card scheme association (as the case may be) will classify the transaction as a foreign currency transaction. If the resort charge is USD100, there would be an additional DCC fee of USD1 imposed and this will be reflected in your credit card statement.

Will I know how much is the DCC fee at point of purchase?

No, you will not see the DCC fee when making the purchase as it will only show the purchase amount converted to the currency of your card account.

The DCC fee will be included with the converted transaction amount when it appears in your credit card statement.

What is the difference between charging a transaction or purchase in foreign currency and in the currency of the card account via DCC?

For illustrative purposes:

When visiting Hong Kong, your hotel bill amounts HKD1000. The hotel may offer you the choice of charging your credit card either:

a) SGD 200 or

b) HKD1000

 

For option (a):

You will sign the bill for SGD200 which is HKD1,000 converted into Singapore dollars was based on the foreign exchange rate and administrative fee determined by the merchant or DCC service provider. The DCC fee will be charged after your purchase is converted to Singapore dollars.

The final amount that will be charged to your credit card account will be as follows:

DCC transaction at hotel: SGD 200.00
DCC fee (1% of converted amount): SGD 2.00
Total: SGD 202.00

For option (b):

You will sign the bill for HKD1000, and the transaction will thereafter be converted to the currency of your card account. All conversions will be based on the wholesale foreign exchange rate determined by Visa, MasterCard or other relevant card scheme associations. A foreign currency transaction fee of 1.8% by the bank and 1% by Visa/MasterCard card associations will be applicable. Assuming the exchange rate applied converts the transaction amount to SGD180.83, the final amount charged to your credit card will be SGD185.89.

Will I be charged the fee if my DCC transaction occurred before 22 May 2017?

No, the DCC fee will only apply to transactions effective on and after 22 May 2017.

How can I tell which merchant transactions would be subject to the DCC fee?

You will need to seek clarification directly from the merchant as this depends on how merchants has set up their payment process (which may change from time to time). If the transaction has been charged and posted, you will be able to see a separate DCC fee within your monthly statement.

Payments

What is the minimum payment?

The minimum payment is 3% of your outstanding balance or SGD50, whichever is greater.

How can I make a payment and when will the credit show on my account?

Payment can be made through the following:

Channel Credit will be posted into account
AXS, SAM or SingPost offices
  • Next working day for payments made before 3pm on weekdays
  • After 2 working days for payments made after 3pm on weekdays, weekends or public holidays
7-Eleven stores
  • Next working day for payments before 7am on weekdays
  • After 2 working days for payments made after 7am on weekdays, weekends or public holidays
HSBC Online Banking or HSBC Branches
  • Next working day for payments made before 6pm on weekdays
  • After 2 working days for payments made after 6pm on weekdays, weekends or public holidays
HSBC Bulk Cash Deposit machines or HSBC ATMS

Credit will appear as a pending transaction and increases your available credit limit on the same day. It will be posted into the account:

  • Next working day for payments made before 6pm on weekdays
  • After 2 working days for payments made after 6pm on weekdays, weekends or public holidays

Standing Instructions

(debiting from an HSBC account)

Same day as account's due date (or next working day if first deduction was unsuccessful)
Interbank GIRO
(debiting from non-HSBC)
Same day as account's due date
Cheque payment
  • Next working day after cheque/credit is received and processed by HSBC.
  • Please buffer for additional processing time which is dependent from the respective debiting bank.
Transfer from other banks / non-HSBC account
  • Next working day after cheque/credit is received and processed by HSBC.
  • Please buffer for additional processing time which is dependent from the respective debiting bank.

Payment can be made through the following:

Channel AXS, SAM or SingPost offices
Credit will be posted into account
  • Next working day for payments made before 3pm on weekdays
  • After 2 working days for payments made after 3pm on weekdays, weekends or public holidays
Channel 7-Eleven stores
Credit will be posted into account
  • Next working day for payments before 7am on weekdays
  • After 2 working days for payments made after 7am on weekdays, weekends or public holidays
Channel HSBC Online Banking or HSBC Branches
Credit will be posted into account
  • Next working day for payments made before 6pm on weekdays
  • After 2 working days for payments made after 6pm on weekdays, weekends or public holidays
Channel HSBC Bulk Cash Deposit machines or HSBC ATMS
Credit will be posted into account

Credit will appear as a pending transaction and increases your available credit limit on the same day. It will be posted into the account:

  • Next working day for payments made before 6pm on weekdays
  • After 2 working days for payments made after 6pm on weekdays, weekends or public holidays
Channel

Standing Instructions

(debiting from an HSBC account)

Credit will be posted into account
Same day as account's due date (or next working day if first deduction was unsuccessful)
Channel Interbank GIRO
(debiting from non-HSBC)
Credit will be posted into account
Same day as account's due date
Channel Cheque payment
Credit will be posted into account
  • Next working day after cheque/credit is received and processed by HSBC.
  • Please buffer for additional processing time which is dependent from the respective debiting bank.
Channel Transfer from other banks / non-HSBC account
Credit will be posted into account
  • Next working day after cheque/credit is received and processed by HSBC.
  • Please buffer for additional processing time which is dependent from the respective debiting bank.

Credit limit

Can I separate my limit and have separate billing for my supplementary cardholder?

No, the credit limit will be shared between the primary and supplementary cardholder(s). All primary and supplementary cardholder(s)' transactions will be consolidated and reflected in the primary cardholder's statement.

How can I increase my credit limit on a permanent basis?

You can submit a Credit Limit Increase form and enclose a copy of your latest income document for our review. Find out more.

Will I be able to state my preferred credit limit when I apply for a credit card/request for a credit limit increase?

Yes, you may state your preferred credit limit on the application form, and this will be subject to the Bank's review and approval. Alternatively, you may request the credit limit to be assigned by the Bank.

Lost / stolen credit card

My credit card is lost or stolen. What should I do?

Please call and notify us as soon as you realise that your credit card is lost/stolen, or if your card account might be compromised. Our customer service officers will block your card immediately and issue you with a replacement card.

Call us on 1800-HSBC NOW (4722 669) from Singapore or (65) 64722 669 from overseas.

Chargeback / Dispute

What should I do if there are transactions charged to my card which were not authorised by me?

Please call our customer service centre immediately if your card is lost, stolen, or if fraudulent transactions have been made. Our customer service officers will assist to block your credit/debit card immediately and also guide you on how to submit a dispute declaration form for the unauthorised transactions.

You can reach us at 1800-4722 669 in Singapore or (65) 64722669 from overseas.

How can I raise a dispute for the transaction(s) charged to my card?

You can raise a dispute by submitting a card dispute declaration form and attaching any necessary supporting documents.

Please refer to the form for any card disputes.

If your card has been lost or stolen, or if you believe any fraudulent transactions have been made, please call our customer service centre and we'll block your card immediately and issue you with a replacement card.

Call us on 1800 4722 669 from Singapore or (65) 64722 669 from overseas.

When do I need to submit a dispute declaration form?

If you want to dispute any transactions posted on your account, we'll need you to submit a card dispute declaration form, together with any relevant supporting documents (eg police report, receipts, etc).

Please note that a card dispute declaration form is required unless we've already confirmed that a chargeback will be raised on your behalf.

Please refer to the form for any card disputes.

Will I be given a temporary credit for the disputed transaction?

We will inform you via letter if you are eligible for a temporary credit. In such scenario, you do not need to pay for the disputed amount while we continue the dispute investigation.

What should I do if I've signed up for an instalment plan with a merchant, but they've since ceased operations?

Even though your payment is via instalments, the full purchase amount would still have been released to the merchant when the purchase was made.

If you're unable to reach a resolution with the merchant and/or the liquidators of the merchant, you can complete a card dispute declaration form and we'll attempt to raise a chargeback on your behalf. Please select the dispute reason as "I have an issue with the merchandise/service that I had purchased" and complete the rest of the form as needed.

Please refer to the form for any card disputes.

How long does it take for the dispute to be resolved?

While we will do our best to resolve your dispute in the shortest possible time, the investigation progress also requires review/input from other parties (eg. merchants). As such, the investigation can take between 2 and 6 months upon receipt of your dispute form for the dispute to be resolved.

Will I be informed if my dispute has been resolved?

Yes. We will send you a letter once the result of the dispute has been confirmed.

Who can assist me on queries regarding disputes?

If you have any queries, please call us at 1800-4722 669 in Singapore or (65) 64722669 from overseas.

You can also visit MoneySense website for FAQs on credit card chargeback and dispute resolution.

Rewards Programme

Am I eligible for the HSBC's Rewards Programme?

All HSBC primary credit cardholders holding valid HSBC Visa and Mastercard credit cards issued by HSBC Bank (Singapore) Limited, except HSBC Corporate/Company and Advance credit cardholders and supplementary cardholders, are eligible for the programme.

How do I earn the Rewards points?

Each cardholder who holds a Singapore dollar denominated credit card will earn one Rewards point for every S$1 charged to your HSBC credit card on qualifying transactions made locally and overseas. Each Cardholder who holds a US dollar denominated credit card will earn one Rewards point for every USGD0.70 charged to your HBSC credit card on Qualifying Transactions made locally and overseas. The earn rate for Rewards points may be accelerated in accordance with the terms and conditions specific to certain credit cards. Cardholders should refer to the credit card specific terms and conditions for details on the accelerated earn rate for Rewards points (as they may be applicable from time to time). Rewards points can be used to redeem shopping, dining and entertainment vouchers, gifts and cash rebates. And your Rewards points last not one but three years.

Can I convert my Rewards points into air miles?

Your Rewards points can be translated into free flights with frequent flyer programmes from Asia Miles™ and Singapore Airlines Krisflyer. Every 25,000 Rewards points can be exchanged for 10,000 miles. To redeem air miles, you need to register for HSBC's Mileage Programme.

HSBC Income Tax Payment Programme

Why should I sign up for this payment facility if I already have a monthly GIRO arrangement with IRAS?

You will earn Rewards points for every dollar charged to your HSBC credit card from HSBC if you sign up. 

For Visa Infinite credit card accounts, the Cardholder will earn Rewards points according to the spend tier they are in. For details, please refer to terms and conditions

Please note that Rewards points will not be awarded to HSBC Advance credit card accounts, with effect from 1 July 2017.

If I choose to pay by monthly instalments, can I sign up for this payment facility if I do not have a GIRO arrangement with IRAS?

No, you need to sign up for a GIRO arrangement with IRAS first. Upon approval, you will receive a GIRO Instalment Plan from IRAS. Simply fill in the application form, and submit your GIRO Instalment Plan to HSBC for processing. Find out more.

If I choose to pay by monthly instalments, how will I know whether the funds have been successfully debited from my HSBC card account and IRAS has successfully debited my GIRO account?

The debit from your HSBC credit card will be indicated on your monthly card statement with the respective description: 'ITX - Income Tax'. You can also refer to your updated bank account passbook/ statement on the IRAS deduction. Cardholders who enrolled for monthly instalment payment will have their participation automatically renewed.

If I choose to pay my taxes via a one-time payment, does IRAS deduct from my specified bank account automatically?

No, after HSBC credits your specified bank account, you will need to make the necessary payment arrangement with IRAS via your preferred method of payment.

If I opt for the one-time payment arrangement, can I request for the amount payable to be less than or more than the amount stated in my official document from IRAS?

No, HSBC will only credit your bank account with the exact amount as indicated in your official documents from IRAS.

When will my Bank/ GIRO account be credited?

Your HSBC credit card account will be debited between the 25th and 30th of each month. The funds will be available on or before the third of the following month. Application forms received after the 20th day of each month will be processed in the following month.

Can I make payments for family or friends?

No, this payment facility is only applicable to HSBC credit cardholders.

Is this payment facility applicable to my supplementary cardholders?

Yes, supplementary cardholders can apply for this payment facility to pay for their own taxes.

What happens if the crediting of funds to the designated bank account / GIRO account for tax payment is not successful for IRAS GIRO deduction due to insufficient funds?

Cardholders are to ensure there is sufficient funds in the bank account for the IRAS deduction in the event if the credit card deductions are unsuccessful. 

Do note that this payment facility will be cancelled if there are three consecutive unsuccessful deductions over three consecutive months. Should the IRAS GIRO be unsuccessful, cardholders will be required to make alternative payment arrangements with IRAS.

HSBC Spend Instalment

How does Spend Instalment work?

Spend Instalment helps to split your retail purchases (including shopping, travel, education, etc.) into interest-free instalments at a low one-time processing fee.

It can be applied for transactions charged locally or overseas, across a wide variety of category (e.g. shopping, travel, education, etc.) Transactions needs to be reflected in your latest HSBC credit card statement or posted by merchant but unbilled.

To apply using the HSBC Singapore app: You can combine up to 10 transactions of at least SGD200 in an instalment plan. The total instalment plan amount must be at least SGD500.

To apply using other channels: You need a minimum amount of S$500 per transaction to use Spend Instalment. You're unable to combine transactions into one instalment plan.

How many Spend Instalment plans can I apply for?

You can now apply to a maximum of 6 instalment plans at any one time. Previously it was capped at 5 instalment plans.

What is the processing fee structure?

A processing fee of up to 5% of the instalment amount will be imposed once the application is approved. Refer to the table for the breakdown of the processing fees across the 3 tenures:

Instalment period
3 months 6 months
12 months
Processing fee
3% 3% 5%

A processing fee of up to 5% of the instalment amount will be imposed once the application is approved. Refer to the table for the breakdown of the processing fees across the 3 tenures:

Instalment period
Processing fee
3 months 3%
6 months
3%
12 months
5%

Which transactions are not eligible for the Spend Instalment programme?

The following transactions are not eligible: non-retail transactions such as Cash Advance, Balance Transfer, HSBC's Card Instalment Plan with participating merchants, any interest payable, fees, charges and such other transactions that HSBC may determine.

How can I apply?

To apply or find out more, you can:

  • Download the HSBC Singapore app and log in to apply.
  • Call our hotline at 1800-HSBC NOW (4722 669).
  • Download the application form available at www.hsbc.com.sg/spendinstalment.
  • SMS INST to 74722.
    An HSBC customer service officer will then contact you on your application within 3 working days.

How is the approved instalment plan being split?

The approved instalment amount will be divided into equal monthly instalment based on the tenure you selected. If the approved instalment amount cannot be divided into equal monthly instalments, the relevant balance will be included in the last instalment.

Will I be informed on the application status?

Yes, we will send you an SMS, E-mail or letter once the application has been processed.

Alternatively, you can also view the Spend Instalment plan details on the HSBC Singapore app under "Your instalment plans" once the Spend Instalment application is approved.

Do I have to pay for that specified transaction which is selected to convert into Spend Instalment upon receiving my credit card statement?

Regardless whether the Spend Instalment application is approved or declined, you are liable to pay the total outstanding balances incurred on your credit card statement by the payment due date, failing which interest and finance charges may apply.

What would happen if I miss one payment?

Interests and late payment charges will be levied on any overdue Instalment as well as other overdue amounts in the credit card accounts in accordance with the terms of the Cardholder's Agreement, i.e.: payments made to the HSBC credit card accounts of Eligible Customers will be applied in the following order of priority, namely: interest charges, late charges, annual card membership fees, cash advances, outstanding balances not under promotional interest rates and balance transfer amounts (if there are multiple balance transfers, payment will be made to the one with the highest interest rate first) on their HSBC credit cards.

Is there a termination charge if I cancel the programme before expiry date?

A termination charge of SGD100 will be imposed for these scenarios:

  • Early repayment of instalments
  • Change of instalment period
  • Termination of the instalment plan under the Programme

Can I cancel or amend the Spend Instalment plan via HSBC Singapore App?

No, you cannot. If you need to cancel or amend the plan, please call our hotline at 1800-HSBC NOW (4722 669). Please note that there is a charge of SGD100 imposed for any early repayment of instalments, change of instalment period, or termination of the instalment plan under the Programme.

Card usage

What are Visa payWave and MasterCard Tap and Go?

Visa payWave and MasterCard Tap and Go are contactless methods of payment that don't require signature authorisation.

For purchases below SGD200, simply wave your Visa payWave or MasterCard Tap and Go enabled credit card in front of a secured reader at the point-of-purchase, and your payment is complete.

Must I register my credit card for overseas use?

The magnetic strip of your credit card is not activated for overseas use, but you can still make transactions with your credit card using other modes of payment, for example, online or chip-enabled transactions.

How do I register my credit card for overseas magnetic use?

You can call our hotline at 1800-HSBC NOW (4722 669) and select the option of "Overseas usage enrollment" and follow the steps.

What if my credit card is blocked due to measures like Balance-To-Income?

If your credit card is blocked due to such policies, you can submit a request to reverse the suspension, together with relevant supporting documents.

Find out more about Balance To Income.

Mastercard Automatic Billing Updater

What is Mastercard Automatic Billing Updater?

Mastercard Automatic Billing Updater ("ABU") helps Cardholders to avoid card-not-present declines (due to account number changes and/or expiration date changes) with card-on-file and recurring payment merchants.

How does the Mastercard ABU service work?

Cardholders generally save their account details with merchant(s) for recurring payment transactions or faster e-Commerce experience. In the event of any change in the account number or the expiry date, the cardholder is required to update the new account details with all the merchant(s). Mastercard ABU offers convenience to Cardholders in that it allows the updated account details to be provided to participating merchants on behalf of Cardholders to avoid preventable transaction declines (due to account number changes and/or expiration date changes).

What are some examples of card-on-file payments?

Examples of card-on-file payments include:

a. Payments processed using a card number you have stored with a merchant or service provider. Some examples of merchants/service providers with whom you may have created an account and saved your card information are:

  • Online retailers
  • Digital wallets, etc.

b. Automated payments i.e. recurring payments you may have set up with a merchant or service provider using your card information:

  • Telecommunications providers
  • Utilities
  • Gym Memberships
  • Insurance, etc.

What are the benefits of the Mastercard ABU service?

  • Improved cardholder experience due to reduced likelihood of transaction declines or service interruptions when card information is updated.
  • Continuity in payment relationships between you and your merchants, hence ensuring on-time bill payment.
  • Reduced need for direct cardholder intervention when new card numbers or expiration dates are issued.

Will my card information be automatically updated with all my card-on-file payments?

Mastercard ABU is only available to participating merchants (participation in Mastercard ABU is at merchant's discretion). To avoid late bill payments, please check with your merchant to ensure your card information is updated.

Is ABU applicable to all HSBC Credit Cards?

No, ABU is currently only applicable to HSBC Mastercard cards (i.e. Visa cards are not included).

Is ABU applicable to un-activated credit card?

No, ABU arrangement/updates are applicable only for activated cards.

Who are the participating merchants?

Merchants sign up directly with Mastercard and the list of participating merchants is subjected to updates. Please check with your merchant directly to confirm their participation.

How do I enroll in Mastercard ABU?

You will automatically be enrolled for Mastercard ABU unless you opt out.

How do I opt out of Mastercard ABU?

To opt-out of Mastercard ABU, call us at 1800-HSBC NOW (4722 669) in Singapore or (65) 6-HSBC NOW (4722 669) from overseas from 1 April 2020 onwards (i.e. post launch of Mastercard ABU). If you hold more than 1 HSBC Mastercard, and wish to opt out of this service for all, a separate instruction is required for each card, including supplementary cards.

How long will it take for the Mastercard ABU opt out request to be processed?

Upon receipt of your request, HSBC requires up to 2 weeks to process your request to Mastercard. HSBC shall notify you via SMS to your mobile number registered in HSBC's records after your request has been processed. Please ensure your mobile number is updated with HSBC.

After your request has been processed by HSBC, please approach the relevant merchant(s) to verify whether the opt out arrangements have been updated on their end and/or if you wish to make alternative payment arrangements.

What if I do not update my card information with participating merchants?

Automatic payments will be declined and merchants may charge a late fee.