There's usually a fee to convert the currency if you use your card outside the UK:
In shops
In bars and restaurants
To withdraw money from a cash machine
If you pay in the local currency, there may be a fee added to the cost. The fee will be a percentage of the value of what you're buying.
With theHSBC Global Money Account1, you can order a debit card and there are no HSBC fees for using it to make payments outside the UK. Other non-HSBC fees may apply.
For other HSBC accounts, there’s a fee of 2.75% for debit cards and 2.99% for credit cards. The total amount is converted to pounds sterling when the transaction is debited to your account.
If you choose to convert to pounds sterling at the point of sale, the conversion rate is set by the merchant. Fees can often be high so in most cases it’s cheaper to pay in the local currency.Then either Visa or Mastercard will do the currency conversion at their current rate. You should always have the right to select which currency to pay in.
If you choose to pay with a Global Money debit card, it will automatically give the most up-to-date exchange rates and avoid dynamic currency conversion fees.
2. Cash fee
If you use your card to withdraw money from a cash machine, there's often a separate fee on top of the one for converting currency.
There are no HSBC fees for using a Global Money card to withdraw cash outside the UK, although other non-HSBC fees may apply.
There's no cash fee either for using your debit card to withdraw money from a cash machine outside the UK if you’re an HSBC Premier customer.
For other HSBC accounts there's a cash fee of 2% (minimum £1.75, maximum £5) on withdrawals using a debit card. With a credit card the cash fee is 2.99% (minimum £3).
The cost of what you've paid for when converted to pounds sterling
Any fee for converting currency
The cash fee if you’ve withdrawn money with your card
1 Global Money is only available in the latest version of the HSBC UK Mobile Banking app. You’ll need to have an eligible HSBC current account. This excludes our Basic Bank Account, Amanah, Appointee and MyAccount.
For other HSBC accounts, there's a fee of 2.75% for debit cards and 2.99% for credit cards. The total amount is converted to pounds sterling when the transaction is debited to your account.
If you are a Credit Card or Debit Mastercard® holder with HSBC, you will not be charged by us for withdrawing money from an ATM outside the U.S.. But, some ATM operators and networks apply a fee for using their ATMs, so you should check to see whether an ATM charges a fee before you use it.
You'll usually need to pay a foreign currency processing fee for using your card outside the UAE. It's typically calculated as a percentage of each transaction you make – for HSBC cards it's a 2% charge.
With HSBC credit cards, you can easily withdraw cash from any of the ATMs in India and overseas. But, the cash advance fee of 2.5% of the withdrawn amount or a minimum of Rs. 500* will be levied on your transactions.
While a foreign transaction fee is charged by your credit card issuer, a currency conversion fee can be charged by the credit card payment processor or the individual merchant.
For example, an HSBC credit card is a sterling card, which is accepted at over 24 million locations across the globe. And once you've registered for online banking, you can add your credit card to Global View.
All of our HSBC Credit Cards have no foreign transaction fees. If you are a Premier or Jade client, you can also enjoy no foreign transaction fees on your HSBC Premier World Debit Mastercard® or HSBC Jade World Debit Mastercard® card3.
Make no transactions in foreign currencies. One way of avoiding non-sterling transaction fees is simply to make no transactions in foreign currencies at all. ...
HSBC credit cards don't charge foreign transaction fees. However, if you use your HSBC Debit Mastercard® card, you may be charged a fee for any purchases abroad. This includes international payments made online.
Introduction: My name is Trent Wehner, I am a talented, brainy, zealous, light, funny, gleaming, attractive person who loves writing and wants to share my knowledge and understanding with you.
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