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Currently, HSBC’s latest promotion offers you up to SGD1,000 in rewards when you bank, spend, and invest with your HSBC Everyday Global Account (Personal Banking) (as per their advertised interest rate last updated on 30 October 2024). However, the actual interest rate you’re entitled to really depends on the placement amount you have, the term (1 month, 3 months, 6 months, etc.) and whether it’s Singapore Dollars Deposit Rate or Foreign Currency Deposit Rate. There are also other fees which you have to note before signin up for this account. Let’s take a look at what fees you may or may not have to pay if you open a HSBC Everyday Global Account (Personal Banking).
One of the best things about the HSBC Everyday Global Account (Personal Banking) is that you don’t need to pay any overseas cash withdrawal fee whenever you withdraw cash from your account from HSBC ATMs worldwide.
Another benefit of holding an HSBC Everyday Global Account with either an HSBC personal Credit Card or Everyday Global Debit Card is the absence of foreign transaction fees (for 10 currencies) on both in-store and online retail purchases. In case you're unfamiliar with foreign transaction fees, here’s a quick breakdown. These fees typically consist of three parts: a fee from the credit card network, like MasterCard or Visa; another fee from your card issuer, such as HSBC; and a dynamic currency conversion fee, which applies if you choose to pay in SGD instead of the local currency.