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Notices

Important notices

Paper statement fee for credit cards accounts

From 1 July 2024 onwards, we'll charge a monthly paper statement fee of USD2 / SGD2 (USD2.18 / SGD2.18, inclusive of GST) per account. It applies only if you opt to receive paper statement for your credit card account. This is part of our ongoing sustainability efforts. You can avoid this fee by registering for the HSBC Singapore app so you can receive and view eStatements instead.

Learn how to register for online and mobile banking.

Revision of Property Loan Standard Terms

For clarity, we have updated the terms and conditions clause 14.1a), to include flood in the coverage under the mandatory fire insurance policy over the property, effective 1 June 2024. No action is required from our Property Loan customers.

View Property Loan Standard Terms (Effective 1 June 2024)(PDF, 310KB).

Temporary Freeze of Reward Redemption Services

To support the system upgrade, with effect from 20 May to 27 May 2024, HSBC Bank will temporarily halt all credit card rewards redemptions. During this period, you will not be able to perform any rewards redemptions using your HSBC Reward points at the following redemption channels:

  • Redemptions via Phone Banking (IVR): From 20 May 2024 onwards
  • Redemptions via Online Banking: From 20 May 2024 onwards
  • Redemptions via HSBC Singapore app: 20 to 27 May 2024 (temporarily unavailable)

Accordingly, we will extend the expiration date for Rewards points expiring on 31 May 2024 to 30 June 2024.

The system upgrade will complete on 28 May 2024 and you can start rewards redemptions on the HSBC Singapore app on the same day. All balance Reward points for each credit card will be migrated to this new rewards platform.

Redemption of points via Phone Banking and Online Banking will no longer be available from 28 May 2024.

What will you expect to see after the system upgrade?

  • Your total Reward points across all your HSBC credit cards will be pooled together and can be viewed on the HSBC Singapore app
  • In the first statement generated post upgrade, your unutilised Reward points balance will be reflected under [Points Adjusted] instead of [Points Carried Forward] in the Rewards Summary box

Updates to HSBC Credit Cards Rewards Programme

With effect from 20 May 2024, there will be changes in the terms and conditions governing the HSBC Rewards Programme.

The change includes:

  • With reference to section B on Qualifying Transactions:
    - All HSBC credit cardholders will no longer earn Reward points/cashback for transactions made in 47 Merchant Category Codes (MCC)
    - HSBC Visa Platinum Credit Card with card number starting with 492160 will no longer earn Reward points. Any un-utilized Reward points can still be redeemed before the Points expiry date.
  • With reference to section C on Redemption of Points:
    - Redemption of points are available for Airmiles, Hotel Points, Pay with Points, Rewards Marketplace and One Tree Planted
    - Redemption of points can only be performed on the HSBC Singapore app. Redemption of points via Phone Banking & Online Banking will cease.
    - Redemption of points for the payment of annual fee on an HSBC Credit Card will cease.
  • With reference to Section E on Miles/Hotel Points Redemption Programme, the Annual Fee for Mileage Programme will cease.
  • Reward points Top-up service will cease.

Click here(PDF, 267KB) to view the updated Terms and Conditions Governing the HSBC Rewards Programme

If you do not have the HSBC Singapore app, you can search for “HSBC SG App” on the App Store or Google Play store and follow the onscreen instructions to download the app.

Closure of Safe Deposit Locker facility on 30 September 2024

Please note that the Safe Deposit Locker facilities in HSBC Claymore Branch and HSBC Serangoon Garden Branch will close permanently on 30 September 2024.

We recognize the trust you have placed in the Bank, and we want to assure you that we remain committed to serving your financial needs to the best of our ability. Please be advised that the closure of the Safe Deposit Locker facilities will not have an impact on your banking accounts with HSBC.

If you hold a Safe Deposit Locker facility with the Bank, you will receive communications directly to advise you for the next steps.

Kindly email us to make an appointment to withdraw the contents of the locker and close the locker by 30 September 2024. Our team is available to answer any questions you may have and to discuss how we can assist you during this transition period.

If you hold a locker at our Claymore Branch, please email us at cme_sdb@hsbc.com.sg

If you hold a locker at our Serangoon Garden Branch, please email us at srg_sdb@hsbc.com.sg

What happens to unclaimed lockers after 30 September 2024

Please note that any Safe Deposit Lockers that are unclaimed by 30 September 2024 will be opened by the Bank, and any items left in the Safe Deposit Locker will be documented and kept with the Bank. This will be performed in the presence of an independent witness. The Bank will keep these items for 8 weeks, after which, the Bank may elect to dispose of the items if they are not claimed by the lessee(s).

If you have any questions

Please see a set of frequently asked questions and answers here(PDF, 469KB).

If you require further assistance or information, please contact your relationship manager or chat with us via HSBC Singapore app.

Updates to HSBC Everyday+ Rewards Programme

With effect from 2 May 2024, there will be changes in terms and conditions that apply to the HSBC Everyday+ Rewards Programme. Details the of changes are as follows:

Changes Before 2 May 2024 From 2 May 2024
Eligibility for 1% Cashback
  • Eligible spend with HSBC Credit Cards
  • Eligible spend with Everyday Global Debit Card
  • Eligible GIRO Bill Payment
  • Eligible spend with Everyday Global Debit Card
  • Eligible GIRO Bill Payment
Exclusion Criteria for GIRO Bill Payment
  • Payments to HSBC Credit Cards
  • Payments to HSBC Credit Cards
  • Payments to any financial institute and trading platforms relating to crypto-currencies, stock exchange and trades.

With effect from 2 May 2024, there will be changes in terms and conditions that apply to the HSBC Everyday+ Rewards Programme. Details the of changes are as follows:

Changes Eligibility for 1% Cashback
Before 2 May 2024
  • Eligible spend with HSBC Credit Cards
  • Eligible spend with Everyday Global Debit Card
  • Eligible GIRO Bill Payment
From 2 May 2024
  • Eligible spend with Everyday Global Debit Card
  • Eligible GIRO Bill Payment
Changes Exclusion Criteria for GIRO Bill Payment
Before 2 May 2024
  • Payments to HSBC Credit Cards
From 2 May 2024
  • Payments to HSBC Credit Cards
  • Payments to any financial institute and trading platforms relating to crypto-currencies, stock exchange and trades.

Change to the Maximum Deposit Insurance coverage

Please note that effective 1st April 2024, the maximum deposit insurance coverage will be increased from S$75,000 to S$100,000. 

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

Wealth lending accounts are not covered under SDIC

With the changes in Singapore Deposit Insurance Corporation “SDIC” coverage effective 1 April 2024, we would like to take this opportunity to clarify that the following Lending Account(s) are part of a credit facility and are not insured by the Singapore Deposit Insurance Corporation:

  • Wealth Portfolio Lending Consolidated Account(s);
  • Lombard Lending Account(s);
  • Wealth Portfolio Account(s);
  • Securities Financing Account(s); and
  • Securities Margin Financing Account(s).

Accordingly, the relevant application forms have been updated to reflect the above. Please be assured that this does not impact your rights and liabilities as a customer. Please contact your RM if you need clarification on the above.

For more information on the coverage or products being insured under SDIC, please visit https://www.sdic.org.sg/.

We look forward to serving you.

New safety measure for Android device

Beware of apps from sources other than your phone’s official app stores which may contain malware. From 27 March 2024, new safety measure in the Android version of the HSBC Singapore app will be launched to protect you from malware. Read more on malware scams.

Updates to HSBC credit cards

Starting from 8 January 2024, there will be changes in fees and charges that apply to your HSBC credit card. The changes are for interest rate on cash and purchases, as well as cash advance fee. Learn more about the revised fees and charges.

In addition, starting from 8 January 2024, the monthly instalment amounts under the HSBC 0% Card Instalment Plans and HSBC PayLater Instalment Plans will not be eligible for Reward points / cashback.

For an existing HSBC Revolution credit cardholder, there are changes to the 10× Reward Points Programme starting from 1 January 2024. The Merchant Category Codes (MCC) 4722 (travel services) and 7011 (lodging) will no longer be rewarded with 9× Bonus Reward points. You can still earn 1× Base Reward point on all qualifying transactions under these 2 MCCs.

Please refer to our credit card FAQ page for the changes in detail.

GST Rate Change

GST rate will increase from 8% to 9% on 1 January 2024. Do expect to see a slight increase in your usual fees and charges from January 2024 onwards.

For more information on GST increase, please refer to the IRAS website.

Charging for issuance of cheques

In line with MAS's announcement (MAS Announces end-2025 Timeline to Eliminate Corporate Cheques) on 28 July 2023 to encourage the adoption of e-payment methods, HSBC will be charging for the issuance of cheques with effect from 01 November 2023.

Charges will be levied on your account on the next business day when a SGD-denominated cheque issued by you is presented to HSBC for payment. Please ensure there are sufficient funds in your account to facilitate smooth processing of cheques and charges.  

There will be no changes to the prevailing charge for USD-denominated cheque.

Charges on SGD-denominated cheque deposits will be implemented at a later stage. 

The applicable charges will be updated in our Fee and Charges Document, which will be published before 1 November 2023.  

For more information, you may visit our Ways to Bank page or MAS website.

If you need further help, you may call the HSBC hotline on 1800-HSBC NOW (4722669) or +65 6-HSBC NOW (6-4722 669).

Important information regarding Global View/Global Transfers and accounts at HSBC Canada

We would like to inform you of an update on the sale of HSBC Canada. For more details, you may visit HSBC Canada.

  1. If you have accounts with HSBC Canada linked to the Global View service, Global View will no longer include your account balances with HSBC Canada and any related information from 28 March 2024. You can continue to access your other HSBC offshore accounts including Global View/Transfers services in the same way through HSBC Online Banking and/or the HSBC Mobile App for the countries you hold accounts in.
  2. If you have any registered international payees at HSBC Canada for the purposes of Global Transfers, these will no longer be available from 17 March 2024. We would encourage you to register new international payees for payments to your beneficiaries in Canada. To do this, you will need the bank account details of your beneficiary in Canada.

Note: If you have any standing instructions or recurring payments set up via Global Transfers to HSBC Canada accounts, please review those payments and set up new payment instructions to the bank account of your beneficiary in Canada.

You may also find alternative payment services on the HSBC Singapore website:

If you need further help, you may call the HSBC hotline on 1800-HSBC NOW (4722669) or +65 6-HSBC NOW (6-4722 669).

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