HSBC Foreign Exchange Loyalty Pricing

The programme period is from 1 April 2023 to 31 December 2024, both dates inclusive.

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

For example, the programme start date is on 1 April 2023. The transactional period for the accumulation of FX transactions is 3 October 2022, which is 180 days before the programme start date. If you made an FX transaction of SGD100,000 on 20 October 2022, and another one of HKD275,723 (SGD50,000) on 12 November 2022, your accumulated FX transaction amount on the programme start date would be SGD150,000.

If you then make an FX transaction of SGD50,000 on 8 April 2023, you'd have an accumulated FX transaction amount of SGD200,000. This means you can enjoy the Gold tier FX rate discount of 25% for that transaction. The new transactional period for your accumulation start date is now 10 October 2022.

If you make another FX transaction of SGD450,000 on the same day, your new accumulated FX transaction amount would be SGD650,000. Therefore, you can enjoy the Platinum tier FX rate discount of 40% for that transaction.

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

• your eligible FX transactions during the transaction period
• any transactions already completed that day
• any current transactions being processed

The discount will be applied to the FX markup margin.
 

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

The default base tier is Bronze. As your accumulated FX transaction amount increases, you'll be eligible for higher discounts according to the tier you qualify for.

For example, you're a Personal Banking customer who wants to make an eligible FX transaction by converting USD42,835.72 to Singapore dollars. We'll assume that the rate is 1.4113.

After deducting the markup margin, the rate becomes 1.4007⁴ and once converted, the value of the transaction is SGD60,000. As a result, you'll be upgraded from Bronze to Silver. A 15% discount will be applied to the markup margin for this current FX transaction.

If the USD-to-SGD FX rate is 1.4007 after the markup margin has been included, your rate will improve to 1.4023 once the 15% Silver discount has been applied. Your converted amount will then increase from SGD60,000 to SGD60,068.66, and you'll have saved USD48.96.

If your new accumulated FX transaction amount reaches or exceeds SGD100,000 after it's been converted from USD, your eligible FX rate discount will increase to 25%.

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

If you have a sole account but make eligible FX transactions using a joint account online, on mobile or at a branch, they'll be used to determine the discount for your next eligible FX transactions made using your sole account online, on mobile or at a branch. The FX transaction amounts accumulated using your joint account will not be shared with your other joint account holders.

If you have a joint account and use it to make eligible FX transactions at a branch, they'll be used to determine the discount for your next eligible FX transactions made using your joint account at a branch.

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.