HSBC Multi Currency Savings Account Reviews

If you need a single savings account that gives you access to multiple currencies, then you can opt for the HSBC Multi Currency Savings Account. This account allows you to access up to 11 different currencies, including the Singapore dollar. With this account, you will also get access to HSBC Online GetRate, a real-time exchange rate service that keeps you up to date with exchange rates when you make foreign currency transactions. Read on to understand everything you need to know about this account.

Features and Benefits: Get Access to 11 Different Currencies

  • The account is opened in Singapore dollar by default. After that, you can request access to up to 10 more currencies, including Australian Dollar, Japanese Yen, Euro, Canadian Dollar, New Zealand Dollar, US Dollar, Pound Sterling, Hong Kong Dollar, Swiss Franc, and Chinese Renminbi.
  • Make transfers instantly to your other HSBC accounts in any part of the world with the Global Transfers service.
  • Get access to real-time exchange rates with Online GetRate service.
  • Get access to Global View service to check the balance in any of your HSBC accounts all over the world.
  • Tiered interest rates, so you can earn more as you save more. Check out the interest rates table below to learn more.
  • You can make transactions or check the account balance only through Personal Internet Banking. You do not get any cheque book, ATM card, or debit card with this account.

Interest Rates: Starting From 0.1% p.a.

Tiered Interest Rates (per annum)
Renminbi First CNY9,999.99 From CNY 10,000 to CNY 999,999.99 From CNY 1 million to  CNY 4,999,999.99 From CNY 5 million  and above
0.5% 0.5% 0.5% 0.5%
Singapore dollar First S$24,999.99 From S$25,000 to S$99,999.99 From S$100,000 to S$499,999.99 From S$500,000 and above
0.1% 0.15% 0.2% 0.35%
New Zealand dollar First NZ24,999.99 From NZ25,000 to S$99,999.99 From NZ100,000 to S$499,999.99 From NZ500,000 and above
0% 0% 0% 0.15%


Note: For all other currencies, the interest rate is 0% p.a. for any amount deposited.

Fees and Charges

Fall-below fee S$2 (if daily average balance falls below S$2,000 or its foreign currency equivalent).
Fall-below fee for HSBC Offshore Banking (applies to non-residents) S$50 per month (if Total Relationship Balance goes below S$200,000).
Transaction fee
  • S$5 when you make the transaction at a branch.
  • No transaction fee applicable to internet banking.


Are You Eligible to Open This Account?

All residents as well as non-residents aged 18 and above, are eligible to open this account. You will also require your NRIC or Employment Pass.

How to Apply for HSBC Multi Currency Savings Account

You can apply for the Multi Currency Savings Account in the following ways:

  • Apply with your personal internet banking access. The whole process will take up to two working days to finish.
  • Fill out a Contact Form available on the bank’s website to have one of the HSBC’s Wealth Managers contact you. You can also reach out directly to the bank’s Relationship Manager.
  • Contact the bank through their phone banking hotline. Numbers are available for local and overseas calls.
  • Apply for this account by visiting any nearest branch of the bank.


Q. How is the interest rate calculated?

A. The interest rate is calculated on a daily basis while the interest is credited every month.

Q. Are interest rates liable to change?

A.  Since interest rates are pegged to interbank rates, they may change regularly.

Q. Are the deposits in HSBC Multi Currency Savings Account insured by the Deposit Insurance Scheme?

A. Only Singapore Dollar deposits are insured by the Deposit Insurance Scheme and not foreign currency deposits.

Q. What is the minimum balance that you need to maintain in this account?

A.  You will have to maintain a minimum balance of S$2,000 or its equivalent (all currencies can be combined) in this account.

Q. What is the minimum initial deposit with this account?

A. You will have to deposit a minimum of S$100 or its equivalent when you open the account.

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