Global Money: frequently asked questions

It's a digital account you can use to hold money in different currencies.

It's also an easy-to-use instant payment service that lets you manage, send and spend money in different currencies securely and fee-free.

If a payment is sent to your Global Money account in a non-GBP currency it will be received, however it will be converted into GBP. In the future you’ll be able to receive foreign currency into your account without it being converted to GBP.

Opening an HSBC Global Money Account is simple. Just log on to the HSBC UK Mobile Banking app or download it if you haven't already. 

If available, it will appear in 'Products and Services' under 'International Services'. Select 'HSBC Global Money' and follow the on-screen instructions.

You need to be over 18 and live in the UK or one of the eligible countries.

You must already have an active eligible HSBC UK current account in your own name. This includes joint current accounts but excludes Basic Bank Account and HSBC Amanah. 

You must also: 

• have a current email address held with us
• not be exposed to sanctions or subject to sanction restrictions
• not have any blocks on the eligible account
• not already have a Global Money Account in the UK or another country or region

You can fund an HSBC Global Money Account from the following:

• HSBC Currency Account
• HSBC UK current accounts (excluding Basic Bank Account and HSBC Amanah)
• HSBC UK savings accounts (excluding Fixed Rate Saver, My Savings, Premier My Savings and Regular Saver)

You can also receive GBP into your HSBC Global Money Account from non-HSBC accounts.

Log in to the HSBC UK Banking app and follow these steps:

1. Select Global Money from your account list 
2. Select your GBP balance
3. Select Add money
4. Follow step by step instructions

Log in to the HSBC UK Banking app and follow these steps:

1. Select Global Money from your account list 
2. Select your GBP balance
3. Select View more
4. Select View account details

Yes, they're covered up to £85,000 by the Financial Services Compensation Scheme.

We won't charge you for making payments or using your HSBC Global Money Account debit card to buy things or withdraw cash. However, some banks may charge to receive a payment.

To close your HSBC Global Money Account, please move any money out of your account and then chat with us. 

Note: there must be at least 1 pence or the equivalent in another currency for you to be able to do this.

You can find the terms and conditions in the app by selecting the profile icon on your account under 'Documents and Messages'.

If this is happening in step 2 (International services > Global Money Account) it could be because we don't have a valid email address for you. Update your profile with a valid email address and try again. If this doesn’t fix the problem, please check our eligibility criteria.

If your HSBC UK Mobile Banking app isn’t updated to the most recent version, sometimes these options are missing. To update to the most recent version follow these steps:

1. Open the App Store (iOS) or Play Store home screen (Android).
2. Go to your profile.
3. Scroll down to the HSBC UK Mobile Banking app and tap to update.

Select your Global Money Account, select your GBP balance, select 'View more' and then 'Order card'. Follow the on-screen instructions.

It's completely free of charge. We won't charge you for the card, delivery, or card replacements and reissues.

If you have enough funds in the currency of the transaction, no exchange rate will apply.

If you don't have the transaction currency, or there isn't enough of it in your account, your card will auto-convert from your Global Money GBP balance if you have enough funds. (The Global Money Exchange Rate is used if it's a currency we can hold a balance in, otherwise the Visa daily exchange rate is used.)

As soon as you've ordered your card, you can view your card details in 'Manage cards'. Just follow these steps:

1. Select your Global Money Account
2. Select your GBP balance
3. Go to 'View more'
4. Go to 'Manage card'
5. Select card details

You can also view your PIN from 'Manage cards' by selecting 'View PIN'.

There's no credit search when you apply for a Global Money Account. We'll exchange information with credit reference agencies about you and your account usage while you have a relationship with us.

Your card isn’t automatically ordered when you open the account. You can order your card by selecting your Global Money Account, select your GBP balance, select 'View more' and then 'Order card'. Follow the on-screen instructions.

If you have ordered your card but you haven’t received it, your address may not be up to date. You must also have a valid email address held with us. If you reside in a High Risk country we cannot issue a card to you.

For security reasons the HSBC UK Mobile Banking app doesn’t allow two separate authentications to take place within a close period of time. If you wait on that message you will see the wording change (likely within a minute) to say ' Please try again' and the try again button will become enabled. If you have already exited the app, you can order a card by logging back in, selecting your Global Money Account, select your GBP currency balance, select 'View more' and then 'Order card'. Follow the on-screen instructions.

Simply add GBP or any supported currency to your HSBC Global Money Account. You can then use your card as normal. Your card will automatically deduct any transactions made from your available balances.

As your Global Money Account has balances in different currencies, you won't be able to see any balance at a cash machine. You can always use the HSBC UK Mobile Banking app to check currency balances and transactions.

You can withdraw money from any cash machine around the world where you see the Visa logo. It doesn't have to be an HSBC cash machine.

If you see an option to choose an account, always select current account or checking account.

We won't charge you a transaction fee, but look out for fees that non-HSBC cash machines may apply. These will be shown on screen before you make the withdrawal.

Will I get charged for withdrawing cash or using my debit card?

You can withdraw money from any cash machine worldwide and we won't charge you a fee. It doesn't have to be an HSBC cash machine .

We won't start charging you after a number of withdrawals either. However, please note that some non-HSBC cash machines may charge you a fee. This will be shown on screen when you make the withdrawal.

Whether you're paying for goods in shops or online with your debit card, we won't charge you any fees.

If you withdraw cash or make a card payment in a currency you don't have in your account, and it's one of our supported currencies, we'll apply the Global Money exchange rate. If it's not one of our supported currencies, we'll use the Visa daily exchange rate.

You can withdraw £500 a day (or foreign currency equivalent) from cash machines.

Your card is activated and ready to use straight away. To start using contactless, just use chip and PIN.

The transfer limits for your HSBC Global Money Account are:

• £50,000 (or currency equivalent) for international payments
• USD200,000 (or currency equivalent) for transfers to one of your own HSBC accounts outside the UK

Transfers between your own HSBC UK accounts are unlimited.

You can hold balances in the following currencies:

GBP - pound sterling

EUR - euro

USD - US dollar

AUD - Australian dollar

ZAR - South African rand

PLN - Polish zloty

CAD - Canadian dollar

NZD - New Zealand dollar

CHF - Swiss franc

SEK - Swedish krona

HKD - Hong Kong dollar

AED - UAE dirham

CZK - Czech koruna

NOK - Norwegian krone

DKK - Danish krone

SGD - Singapore dollar

JPY - Japanese yen

CNH - Chinese yuan renminbi

No, you can send payments or spend in +65 currencies to +200 countries. To send a payment, just follow these steps:

1. Select your Global Money Account.
2. Select Pay & Transfer.
3. Select Send Money Internationally.
4. Select Country or Territory.
5. Select the currency you want to transact in.

Log in to the HSBC UK Banking app and follow these steps:

1. Select Global Money from your account list
2. Select the currency you want to withdraw
3. Select Convert or Withdraw
4. Select the account you want to withdraw the funds to
5. Input the amount to be withdrawn and select Continue
6. Review and confirm

Open the HSBC UK Banking app and follow these steps:

1. Select Global Money from your account list
2. Select the currency you would like to convert from
3. Select convert or withdraw
4. Select the account/currency you would like to convert to
5. Follow step by step instructions

When making a payment, we'll tell you on the app screen how long it will take for the payment to arrive.

We want you to be able to use your HSBC Global Money Account on a day and at a time that works for you. However, live rates are only available during market hours. The foreign currency markets are closed from 22:00 every Friday until midnight Sunday. We add a small margin to the exchange rate to cover any fluctuations during weekends. But don't worry, we still won't charge you a fee. You may wish to wait for the foreign currency markets to re-open to have the live rate applied.

Yes. Monthly statements are available for the last 6 years. You can view and download them in PDF format on the HSBC UK Mobile Banking app. We'll send you an email notification when your statement is available.

Yes, you can ask for a paper statement. To do this please chat with us.

Log in to the HSBC UK Banking app and follow these steps:

1. Select Pay and Transfer
2. Select Make a Payment or Transfer
3. Select the account you wish to pay from
4. Select My Payees
5. Select either Add a New Payee or Select a Company
6. Follow the onscreen instructions

Log in to the HSBC UK Banking app and follow these steps:

1. Select Pay and Transfer
2. Select Send Money Internationally
3. Select the country or territory you are sending money to
4. Select Continue
5. Select the currency you want to send
6. Select the currency you want the payee to receive
7. Select Continue
8. Select Add New Payee
9. Follow the onscreen instructions

Our live HSBC Global Money Account exchange rates are updated by the second during market hours. This means we can always offer our most up-to-date rate, providing you with visibility and certainty of how much you're sending. The exchange rate will be displayed in the mobile app before you confirm your payment and will be valid for 40 seconds before refreshing.

Yes. To do this, log in to the HSBC UK Banking app and follow these steps:

1. Select Global Money from your account list 
2. Select the currency you want to add money to
3. Select Add money
4. Select the HCA you want to send money from
5. Follow the on-screen instructions

The Global Money Exchange Rate is made up of the cost to us plus a foreign currency conversion margin that we include. This rate is quoted to you before you complete any foreign currency transaction using Global Money.

Irish Revolut accounts are registered in Lithuania. This means they have a Lithuanian IBAN which has 20 digits rather than the 22 for Ireland. When sending payments you'll need to choose the receiving country as Lithuania.

The Global Money Account doesn’t currently allow a debit balance. Some transactions that could take the account overdrawn can’t be applied to the account until there is a sufficient credit balance available (see examples below). This can cause a delay to the transaction showing on the customer’s account.

Examples:

• Transactions when the merchant is offline
• Inflight airline transactions
• Bank reclaiming funds from the customer following unsuccessful card dispute
• Transport For London transactions (tapping in and out during travel)

You can change your PIN at any cash machine where you can see the Visa logo.

Choose PIN services and follow the on screen instructions.

You can view your PIN on the mobile banking app.

1. Select your Global Money Account
2. Select your GBP balance
3. Go to 'View more'
4. Select 'Manage card'
5. Go to 'View PIN'
6. Follow the on-screen instructions

If you know it's definitely not lost or stolen, you can apply a temporary freeze to your card in the app.

1. Select your Global Money Account.
2. Select your GBP balance
3. Go to 'View more'.
4. Select 'Manage card'.
5. Go to 'Freeze card'.
6. This will also allow you to unfreeze when you're ready.

If your card is damaged and you need a replacement, you can order a new card in the app.

1. Select your Global Money Account
2. Select your GBP balance
3. Go to 'View more'
4. Select 'Manage card'
5. Go to 'Report lost, stolen or damaged card'
6. Follow the on-screen instructions

If you don't recognise a transaction or think the amount charged is incorrect, we can help.

A good first step is to check these tips to help you recognise the transaction.

These explain some of the reasons why a transaction can look unfamiliar at first and may help you to identify it. For example, retailers sometimes trade under different names, so the one on your statement might not be what you expect. If you still believe you didn't make the transaction or need more help, please chat with us via the mobile app.)