Foreign exchange FAQ

You will need an Everyday Global Account (EGA) to start currency conversions which can be opened via HSBC Internet Banking if you are an existing HSBC customer or at any HSBC branch if you are a new customer. You will receive an Everyday Global Debit Card upon opening your EGA which provides you with access to up to 11 different currencies* and make currency conversions using:

1. "Domestic Transfer" at real-time competitive rates
2. "Set your rate" at your own preferred rates

*Australian Dollar, Canadian Dollar, Euro, Japanese Yen, New Zealand Dollar, Pound Sterling, Swiss Franc, US Dollar, Hong Kong Dollar, Chinese renminbi (Offshore) and Singapore Dollar.

There are two ways to gain a return on your capital from foreign currency, either through interest-rate differences or exchange-rate fluctuations.

Many financial institutions offer margin trading on foreign currencies. Of course, this is highly speculative and can be extremely risky. If the currency devalues by more than your interest return, you may potentially incur losses on your principal amount.

Never miss a payment

Enjoy preferential real-time rates on weekdays and set up standing instructions to send payments and remittances to over 26 countries/regions.

Below are some suggestions on ways to use FX:

• Payments in foreign currencies (personal expense, rent fees, credit card payments, utility payments, education fees, Insurance premium),
• Travel expenses,
• Purchase of property,
• Investment (for purchasing of equities/bonds/structured products/unit trusts/ETFs denominated in foreign currencies).
• Savings and more

• There are limited restrictions pertaining to currencies that can be cleared locally. For example, KRW, TWD, MYR.
  
• We will not be able to clear onshore RMB.
  

We have Dual Currency. HSBC's Dual Currency Plus offers you the potential to earn higher returns through investing in a currency-linked option. By selecting a currency pair you are comfortable holding, you can take advantage of currency market movements. This is a regulated product and follows the sales process.

Any client that holds an account with us. More details as seen below.

FX Order Watch

The FX Order Watch service is available to all HSBC customers who have foreign currency accounts.

If you do not have a foreign currency account, you may open an Everyday Global Account that gives you access to up to 11 currencies to make a foreign currency exchange. More information can be found here.

Worldwide Transfer

You will need to have an overseas beneficiary's crediting account to complete a worldwide transfer.

Global View and Global transfer

You will need eligible HSBC accounts in another country/region to make a transfer.

Via HSBC Online Banking, HSBC Singapore app, or in our branches.

Simply log on to HSBC Online banking to make an FX transfer on the following platforms:

• FX Order Watch
  
• Global transfer
  
• Worldwide transfer
  

For Premier customers, you may enquire about preferential pricing through your respective Relationship Managers.

This is currently not available in HSBC Singapore.

FX is subject to exchange rate fluctuations, for example, (but not limited to) exchange rate risk, liquidity risk, country/region risk. These risks will subject your foreign currency deposit to exchange rate fluctuation. If you choose to convert your foreign currency to other currencies at an exchange rate that is less favourable than the exchange rate in which you made your original conversion to foreign currency, you may suffer loss in principal.

You may access the daily FX updates through here.

After you have performed a currency conversion within your EGA via the HSBC Singapore app, you can make retail purchases, online shopping and cash withdrawal with no FX fee* using the HSBC Everyday Global Debit card.  If you are spending USD100 on your EGA debit card, we will just deduct USD100 from your EGA. It's that simple, with no hidden charge. Please note that EGA Debit Card does not support Renminbi transactions.

*Applies to successful retail purchase, online shopping and cash withdrawal made via the 9 supported foreign currencies.

You can refer here for more information on Everyday Global Account Debit Card.

The programme period is from 19 June 2025 to 30 June 2027, both dates inclusive.

The transactional period will be 180 days prior to the date on which you make a transaction during the programme period.

With the inclusion of new eligible FX transactions in the HSBC Forex Club, your Club tier now may change based on the updated tier structure starting 19 June 2025.

For example, let’s say your accumulated FX transaction amount is SGD120,000. This means your Club tier will change from the Gold tier to the Silver tier.

Or let’s say your accumulated FX transaction amount is SGD400,000. You’ll need to accumulate an additional SGD400,000 to reach the Platinum tier, instead of SGD100,000.

You can also now accumulate more FX transactions when you make Global Money Transfers and time deposits in the HSBC Singapore App. They’ll count towards the amount you accumulated over the last 180 days.

We determine the entitled FX rate discount by adding the SGD equivalents of:

• your eligible FX transactions during the transactional period
• any transactions already completed that day
• the current transaction in process

The discount will be applied on the FX conversion charge we charge.

All eligible FX transactions in currencies other than SGD will be converted into SGD at the bank’s prevailing exchange rate to determine the approximate FX transaction amount.

The transactional period is the last 180 days from today or from the day you make an FX transaction.

For example, the programme start date is on 19 June 2025, the transactional period for the accumulation of FX transactions in the last 180 days starts on 21 December 2024.

If you made an FX transaction of SGD50,000 in January 2025 and another one of HKD295,224 (SGD50,000) in April 2025, your accumulated FX transaction amount would be SGD100,000.

Then if you make an FX transaction of SGD50,000 on 21 June 2025, you'd have an accumulated amount of SGD150,000 and can enjoy a Gold tier discount of 25% on the exchange rate for this transaction. The new transactional period for accumulation start date is now 23 December 2024.

If you make another FX transaction of SGD650,000 on a day that falls under the same transactional period, based on your new accumulated amount of SGD800,000, you can enjoy a Platinum tier discount of 40% on the exchange rate of this transaction.

These FX transactions are eligible for HSBC Forex Club:

• FX transactions made using Worldwide Transfers
• Transfers within your Everyday Global Accounts (via HSBC Phone banking, or on the HSBC Singapore App and HSBC Online Banking)
• HSBC Global Money Transfers to third-party HSBC accounts via HSBC Singapore App^#
• HSBC Global Money Transfers to non-HSBC accounts via HSBC Singapore App^#
• FX conversion for Time Deposits placement via HSBC Singapore App^#

^* Non-Everyday Global Account Transfers, FAST, and PayNow are not accumulated under the HSBC Forex Club.

^# Newly included with effect from 19 June 2025

The accumulated FX transaction amount is calculated based on how you make your eligible FX transaction.

Sole account

For Eligible FX Transactions performed on mobile, personal internet banking: Any Eligible FX Transactions performed for a sole account on mobile, personal internet banking, will count towards the Accumulated FX Transaction Amount for the sole accountholder who logged into the mobile platform or online banking, for purposes of determining the discount for that sole accountholder’s next Eligible FX Transaction(s).

Joint account

(i) For Eligible FX Transactions performed on mobile and personal internet banking: Any Eligible FX Transactions performed for a joint account on mobile or personal internet banking, will count towards the Accumulated FX Transaction Amount for the sole account of that particular individual (such individual also owns that joint account with other accountholder(s)) who logged into the mobile platform or online banking, for purposes of determining the discount for that sole accountholder’s next Eligible FX Transaction(s). The FX transaction amounts accumulated using your joint account for such FX Transactions performed on mobile or online will not be shared with your other joint accountholders.

All non-SGD eligible FX transactions in currencies other than SGD will be notionally converted into SGD at the bank's prevailing exchange rate for the purpose of determining the accumulated FX transaction amount.

You can speak to your Relationship Manager or our staff for more details.

If you qualify for promotional FX pricing under another FX promotion, the better discount of the two will be applied.