• HSBC Multi Currency Savings Account

    HSBC Multi Currency Savings Account gives its customers access to a maximum of 11 different types of currencies. This account is easy to manage and provides one of the best interest rates.

    Features and Benefits of HSBC Multi Currency Savings Account:

    • Using HSBC Multi Currency Savings Account, customers can access and make payments in the following currencies:
      • Canadian Dollar.
      • Australian Dollar.
      • Pound Sterling.
      • Japanese Yen.
      • Euro.
      • New Zealand Dollar.
      • Swiss Franc.
      • Singapore Dollar.
      • US Dollar.
      • Chinese Renminbi.
      • Hong Kong Dollar.
    • Account holders can earn tiered rates on interest using this account, which means if they save more, they will earn higher rates of interest.
    • Account holders can open the account in Singapore Dollars and then request the bank to access the other 10 currencies.
    • Account holders can use Personal Internet Banking to check their balance and for FX transactions.
    • Before customers transfer funds using Online GetRate service, they will get access to the live exchange rates.
    • Customers can instantly transfer money to their other HSBC accounts using the Global Transfers service.

    Eligibility:

    • Anyone who is 18 years old and above can apply for HSBC Multi Currency Savings Account.
    • Both residents and non-residents are eligible to open this account.
    • To open the account, applicants need to make a minimum initial deposit of S$100 or an equivalent amount.

    Requirements:

    To apply for HSBC Multi Currency Savings Account, you need the following:

    • Employment Pass or NRIC.
    • S$2,000 or equivalent in combined or single currency holding. Applicants who hold Dual Currency Plus and other types of investments with the bank will get a waiver on this initial deposit.

    Interest Rates:

    The interest rates for HSBC Multi Currency Savings Account are calculated by the bank on a daily basis. It is credited on a monthly basis.

    The rates mentioned below are indicative and can be changed by the bank at any time without prior notice.

    Tiered interest rates
      Initial US$24,999.99 From US$25,000 - US$99,999.99 From US$100,000 - US$499,999.99 US$500,000 and more
    US Dollar 0% p.a. 0% p.a. 0% p.a. 0% p.a.
    Tiered interest rates
      Initial A$24,999.99 From A$25,000 - A$99,999.99 From A$100,000 - A$499,999.99 A$500,000 and more
    Australian Dollar 0% p.a. 0% p.a. 0% p.a. 0% p.a.
    Tiered interest rates
      Initial C$24,999.99 From C$25,000 - C $99,999.99 From C$100,000 - C$499,999.99 C$500,000 and more
    Canadian Dollar 0% p.a. 0% p.a. 0% p.a. 0% p.a.
    Tiered interest rates
      Initial €24,999.99 From€25,000 - €99,999.99 From €100,000 - €499,999.99 €500,000 and more
    Euro 0% p.a. 0% p.a. 0% p.a. 0% p.a.
    Tiered interest rates
      Initial £24,999.99 From £25,000 - £99,999.99 From £100,000 - £499,999.99 £500,000 and more
    British Pound 0% p.a. 0% p.a. 0% p.a. 0% p.a.
    Tiered interest rates
      Initial HK$49,999.99 From HK$50,000 - HK$299,999.99 From HK$300,000 - HK$999,999.99 HK$1,000,000 and more
    Hong Kong Dollar 0% p.a. 0% p.a. 0% p.a. 0% p.a.
    Tiered interest rates
      Initial ¥999,999.99 From ¥1,000,000 - ¥4,999,999.99 From ¥5,000,000 - ¥9,999,999.99 ¥10,000,000 and more
    Japanese Yen 0% p.a. 0% p.a. 0% p.a. 0% p.a.
    Tiered interest rates
      Initial CHF24,999.99 From CHF25,000 - CHF99,999.99 From CHF100,000 - CHF499,999.99 CHF500,000 and more
    Swiss Franc 0% p.a. 0% p.a. 0% p.a. 0% p.a.
    Tiered interest rates
      Initial NZ$24,999.99 From NZ$25,000 - NZ$99,999.99 From NZ$100,000 - NZ$499,999.99 NZ$500,000 and more
    New Zealand Dollar 0% p.a. 0% p.a. 0.06% p.a. 0.36% p.a.
    Tiered interest rates
      Initial S$24,999.99 From S$25,000 - S$99,999.99 From S$100,000 - S$499,999.99 S$500,000 and more
    Singapore Dollar 0% p.a. 0.03% p.a. 0.13% p.a. 0.18% p.a.
    Tiered interest rates
      Initial CNY9,999.99 From CNY10,000 - CNY349,999.99 From CNY350,000 - CNY999,999.99 From CNY1,000,000 - CNY4,999,999.99 CNY5,000,000  and more
    Renminbi 0% p.a. 0% p.a. 0% p.a. 0% p.a. 0% p.a.

    Fees and charges:

    Particulars Amount
    If average daily balance is below the minimum balance (S$2,000 or equivalent) S$2
    Minimum Balance Fee for HSBC Offshore Banking (which is applicable to the non-residents). It is charged in addition to the service charge. S$30 per month has to be paid if the Total Relationship Balance (includes investments, deposits, insurance) is less than S$75,000.
    Transactions in Bank Branches S$5

    The fees and charges can be changed at any time at the discretion of the bank.

    How to Apply?

    The application process of HSBC Multi Currency Savings Account is very easy. You can choose to apply online or offline.

    You can apply online on the website of bank. To apply online, customers have to login on to their Personal Internet Banking Account. Online applications generally take a period of 2 working days to complete. If you are a HSBC customer, but do not have a Personal Internet Banking Account, you can register for it online using your HSBC ATM Card, Credit Card or Debit Card. The bank will send you the security token within a period of 12 working days.

    You can apply offline in the following two ways:

    • First – You can request HSBC bank to get in touch with you by leaving your contact details on its website. You can do so by filling the ‘Contact Form’ and the bank will contact you within a period of 3 working days.
    • Second – You can visit any HSBC Branch and apply for the account in person.   
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