Review of HSBC Everyday Global Account: features, fees and rates

Hannes Ausmees

If you love to travel, shop with international ecommerce stores, or have to pay bills overseas, a foreign currency or multi-currency account might help you save on international transaction fees. The HSBC Everyday Global Account¹ from banking giant HSBC is one popular option, with 11 currencies and a linked international debit card.

This HSBC Everyday Global Account review covers all you need to know if you’re thinking about opening an account for your international transactions, including how to use the HSBC Everyday Global Account, and the fees and exchange rates you should be aware of. We’ll also compare the HSBC Everyday Global Account Malaysia to the Wise multi currency account as a bonus, to help you decide which product suits you best.

How to use HSBC Everyday Global account

Multi-currency accounts allow customers to hold, exchange and spend a range of different currencies conveniently. They’re a great tool for anyone living an international lifestyle because they can help you cut the costs of receiving, converting, sending and spending foreign currencies - and often save time and hassle, too.

HSBC’s Everyday Global Account lets users hold up to 11 currencies in the same account, with access to a range of services including a debit card, rewards for spending, currency conversion with competitive rates and more. Here’s what you need to know.

Everyday banking and rewards

You can use your HSBC Everyday Global Account for day to day spending, including being able to hold and convert between up to 11 currencies within the account. There are discounts on offer whenever you spend using your linked international debit card, and no monthly fee or minimum balance to maintain. Depending on your account balance, you might also earn interest on the funds you hold.

Multi-currency account

The Everyday Global Account allows users to hold MYR and 10 foreign currencies²:

  • Australian dollars
  • Canadian dollars
  • Euros
  • Hong Kong dollars
  • New Zealand dollars
  • British pounds
  • Singapore dollars
  • Japanese yen
  • Saudi riyal
  • US dollars

With your account you’ll get 24/7 access to mobile and online banking services from HSBC, which means you can exchange any currency in your account in just a few clicks. The HSBC or Visa foreign exchange rate will apply whenever you switch between currencies, or if you need to send or spend in a currency not supported by your account. This is likely to include a markup - an extra fee - on the mid-market exchange rate. We’ll take a look at an alternative option, the Wise multi currency account, which doesn’t use an exchange rate markup, a little later.

Debit card

HSBC’s Everyday Global multi currency debit card can be used for shopping with international ecommerce stores, and to spend and withdraw cash when travelling. The account base currency is MYR, but if you hold any eligible foreign currency in your account you’ll be able to send payments, make withdrawals or spend, without foreign transaction fees.

HSBC exchange rate and international transaction fees in Malaysia

The HSBC Everyday Global Account does come with some handy multi-currency features - but it’s important to note that there are still international transaction fees to pay. These include service fees when you send or receive an international payment in a supported currency, and a foreign transaction fee when you spend a currency that’s not supported in your account. It’s also useful to know that when you exchange between supported currencies in the account you’ll get the prevailing HSBC or Visa exchange rate which may include a markup.

An exchange rate markup is commonly used by banks and currency exchange services - but it’s an extra fee which can push up the overall costs of currency exchange. If you’d rather avoid currency exchange markups, and see all the costs of your international transactions more transparently, you might prefer the Wise multi currency account. More on that coming up later.


HSBC Everyday Global Account fees, charges and interest rates

The HSBC Everyday Global Account is available to HSBC regular, Premier and Advance customers. However, the terms and conditions - as well as the fees which apply - do vary between these account categories.

We’ll take a look at the account eligibility requirements a little later so you can choose which might suit you best. For now, here are the fees you need to know about³:

ServiceHSBC Everyday Global Account fee
Account opening feeNo fee
Account dormant feeNo fee to reactivate a dormant account - however, a fee of 10 MYR/year will be charged until a dormant account is closed
Cash withdrawal at an HSBC Malaysia ATMNo fee
Cash withdrawal at a Visa PLUS network ATM

10 MYR

If you withdraw in a currency you don’t hold in the account, there is also a 1% charge + any applicable Visa fee

Cash withdrawal at MEPS shared ATM network

Regular account holders - 1 MYR/ withdrawal

Advance customers get 2 free withdrawals/month, Premier customers get 3 free withdrawals/month

Cash withdrawal at an HSBC overseas ATM5 MYR, waived for Premier customers
Foreign transaction feeSpending in a currency you don’t hold in the account comes with a 1% charge + any applicable Visa fee
Sending an international payment

Sending a payment in a currency you hold in the account:

Fee based on the currency being sent - 6 SGD or 4 USD for example + cable charges

Regular telegraphic transfers: 25 - 51 MYR depending on the details of the payment

Receiving an international payment

5 MYR for currencies not supported in your account

When receiving a payment in a supported currency, you’ll pay a fee based on the currency being sent - 6 SGD or 4 USD for example

How to open an Everyday Global Account

If you want to open an HSBC Everyday Global Account you’ll first need to choose between the regular, Advance, and Premier account - each account tier has its own eligibility requirements, and comes with its own features and fees. How you open your account will also depend on whether you’re an existing HSBC customer, and whether you’re a foreigner in Malaysia or a Malaysian citizen. Here are the details.

Eligibility requirements

The account you’re eligible for will depend on your minimum account balance or your existing relationship with HSBC:

  • HSBC Standard Everyday Global Account - no minimum balance requirement
  • HSBC Advance Everyday Global Account - hold 30,000 MYR or take an HSBC home loan of 300,000 MYR or more. You’ll also have to have your salary paid into your HSBC account, and take an HSBC credit card.
  • HSBC Premier Everyday Global Account - hold 200,000 MYR or more in eligible HSBC accounts, have your salary of 16,000 MYR/month or more paid into your account, or take home financing from HSBC of 1 million MYR or more

How to open the multi currency account

If you’re an existing HSBC customer looking to open an additional HSBC multi-currency account you’ll be able to leave your details on the HSBC website and have a member of the service team get in touch to talk you through the process. Alternatively, you can make an appointment to visit a branch in person to get your account up and running.

If you’re new to HSBC, aged over 18, and a Malaysian citizen with a valid MyKad you might be able to start to open your account online - but you’ll still need to visit a branch within 30 days of opening to verify your account and get it fully up and running. Here’s the process:

  1. Enter your details on the online form
  2. Verify your identity in branch
  3. Deposit funds and download the HSBC app
  4. Register for online banking
  5. Start transacting

Opening an account as a foreigner

If you’re a foreigner in Malaysia, or if you don’t want to use MyKad for any reason, you’ll need to visit a branch in person to open your account. You can set up an appointment online to make the process a little smoother.

Comparison with an alternative multi-currency account in Malaysia - Wise

If you’d rather open your multi-currency account without visiting a bank branch - or if you’d like a more flexible way to hold and spend foreign currencies - you might be better off with the Wise multi currency account.

The Wise account is available to both Malaysian citizens and non-Malaysians, with no monthly charge or minimum balance requirements and can be opened online from anywhere. You’ll be able to hold and exchange 50+ currencies, get paid fee free from over 30 countries, and spend using your linked Wise debit card all over the world. Best of all, all currency conversion uses the mid-market exchange rate with no markup, and no hidden fees.


The Wise account is a great low cost way to transact internationally. It offers many of the features bank accounts do, and often has lower fees. The right account pick for you, though, depends on exactly what you’re looking for. Here’s a quick look at some of the key features of both accounts:

HSBC Everyday GlobalWise Multi-currency Account
Minimum balanceNo minimum for regular accounts, minimum balance requirements for Advance and Premier account typesNo minimum balance
Available currencies11 currencies54 currencies
Debit cardYesYes
Interest rateInterest is paid - rates depend on the balance of the accountNo interest
Send payments overseas

Sending a payment in a currency you hold in the account:

Fee based on the currency being sent - 6 SGD or 4 USD for example + cable charges

Regular telegraphic transfers: 25 - 51 MYR depending on the details of the payment. Exchange rate markups may also apply

Low fees and the mid-market exchange rate
Receive international payments

5 MYR for currencies not supported in your account

When receiving a payment in a supported currency, you’ll pay a fee based on the currency being sent - 6 SGD or 4 USD for example

Free - you’ll also get your own bank details to get paid like a local from 30+ countries


If what you want is a multi-currency account from a traditional bank, the HSBC Everyday Global Account might be a solid bet. HSBC is a world-renowned brand, with great international presence and a strong branch network, and the account comes with handy features like the linked debit card and 11 eligible currencies. However, if you’re looking for a lower cost account with a more flexible range of currencies, the Wise multi currency account could suit you better.

With Wise you can hold 50+ currencies, send payments to 80+ countries, spend all over the world with your linked international debit card, and get paid like a local from 30+ countries. You’ll always get the real mid-market exchange rate with low, transparent fees whenever you transact or switch between currencies, so there are no surprises - just easy, everyday borderless money management.

Join Wise for free 🌏

Wise for sending money


  1. HSBC Everyday Global Account
  2. HSBC Everyday Global Account product disclosure
  3. HSBC fee schedule

Sources checked on 20.05.2022

This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.

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