Our Agreement
These terms should be read together with:
- our Banking Terms and Conditions
- our Privacy Notice https://www.expat.hsbc.com/privacy/, which explains how we collect, use, store and share your information
- our Digital Banking terms, which sets out how you can use our mobile banking app.
These documents together form the Agreement between you and us for the Global Money Account.
These Global Money Account Terms and Conditions are governed by the laws of Jersey and the courts of Jersey have jurisdiction in relation to any dispute in connection with or arising from these terms.
| What you can do | What you cannot do |
|---|---|
| Hold multiple currencies in your Global Money Account. | Set up standing orders, direct debits or future dated payments. |
| Transfer money between your HSBC Expat accounts and your Global Money Account. | Use your Global Money Account for business purposes. |
Make payments in different currencies using our Mobile Banking App.
Currencies available in the Global Money Account can be found on |
Receive funds into the account from anywhere other than your own HSBC Expat accounts. |
| What you can do | Hold multiple currencies in your Global Money Account. |
|---|---|
| What you cannot do | Set up standing orders, direct debits or future dated payments. |
| What you can do | Transfer money between your HSBC Expat accounts and your Global Money Account. |
| What you cannot do | Use your Global Money Account for business purposes. |
| What you can do |
Make payments in different currencies using our Mobile Banking App.
Currencies available in the Global Money Account can be found on |
| What you cannot do | Receive funds into the account from anywhere other than your own HSBC Expat accounts. |
We don't pay any interest on the money in your Global Money Account.
What you'll need to use the Global Money Account
In order to use the Global Money Account, you need to
- Have an HSBC Expat Bank account with us
https://www.expat.hsbc.com/international-banking/open-an-account/. - Register for our online banking services.
- Download our Mobile Banking App on your device.
- Register for a Global Money Account using our online banking portal through the Mobile Banking App.
Global Money with HSBC Expat is presently only available through the mobile banking channel. If that changes in the future, we will let you know.
Exchanging currency
We will apply our prevailing exchange rate at the time you change currency in your Global Money Account. The rate you receive will depend on the following factors:
- whether you are a HSBC Expat Premier or Advance customer
- the amount you would like to convert; and
- the currencies being exchanged.
We will show you the latest exchange rate we offer for each transaction. The final exchange rate will be set when you confirm the transaction.
Limits to currency exchange
We’ll do all we reasonably can to carry out our promises to you but sometimes there can be restrictions (for example only, technical, legal or regulatory) on exchanging one currency to another may stop us from completing a transaction. In these situations, we won’t be responsible for any losses (whether direct, indirect or consequential – such as a loss of opportunity) you may have.
Checking your money
You can check your balance and get information about your transactions at any time on our Mobile Banking App.
We provide electronic statements on a monthly basis through our Mobile Banking App. Statements show all amounts added to or taken from your Global Money Account during a given period. You can check all your statements for the last 7 years on the App.
Printed paper statements can be requested for a fee, please see the Tariff of Charges for full information.
Fees and charges
We don’t charge you for having a Global Money Account, but we may charge you for actions you take when using it. Charges apply for some types of international payment. Please see our Tariff of Charges for full information.
Overdraft
There is currently no overdraft available on your Global Money Account.
Making changes
We can change our terms (including these terms) and fees. Where possible, we’ll tell you at least 30 days in advance of any change. If you don’t agree with a change, you can close your account.
We can't predict all of the reasons why we may need to make a change in our terms and fees, but the most common reasons are:
- changes to laws or regulations
- changes to our business, the technology, services or facilities
- decisions we have to follow (such as by a court or regulator) or new industry guidelines or codes of practice
- to cover the increased cost of offering a product or service.
If we make changes for any other reasons, we'll make sure the change is reasonable.
Suspending or closing your Global Money Account
You can close your Global Money Account at any time via the HSBC Expat Mobile Banking App. If you have any pending transactions, you will not be able to close the account until these transactions are settled.
For a variety of reasons (for example only, legal and regulatory) and explained in greater detail in the HSBC Expat Account terms & conditions, we may suspend or close your Global Money Account immediately if we suspend or close any of your deposit accounts, or by giving you at least 60 days’ notice.
Access to your Global Money service is linked to your HSBC Expat current account. That means for example that when your Expat current account is suspended or frozen, your Global Money account will likewise become inaccessible.
Once your Global Money Account is closed, we will transfer the credit balance to your current account.
We won't be responsible for any losses caused by us suspending or closing your Global Money Account.
Your duty to protect yourself and your devices
It is paramount that you inform yourself how to properly protect your identity and your online and mobile banking access from unauthorised use, fraud, theft and other such risks. If you don't follow appropriate safety procedures, such as included (for example only) the guidance in our Digital Banking Terms and Conditions about how to stay safe online, you may be liable for any consequences of a security breach.
Please be mindful that maintaining your digital safety is never “done” but something you always have to be mindful of.
How we will stay in contact
We'll contact you using the most recent contact information you've given us, so remember to tell us if your contact details change.
Please see https://www.expat.hsbc.com/contact/ for details of how to contact us.
Global Money Debit Card
About your card
The Global Money Debit Card refers to both the physical and digital version of the debit card. You can only apply for the Global Money Debit Card through the HSBC Mobile Banking App.
When you request a Global Money Debit Card, we will issue your digital card instantly and this is stored in the HSBC Expat Mobile Banking App. At the same time, we will create a physical plastic debit card and post this to you shortly after.
The Global Money Debit Card is linked to your Global Money Account and can only be used to debit this particular account.
You can use your Global Money Debit Card wherever Visa is accepted, including, but not limited to:
- ATM;
- a point of sale terminal in-store;
- online; or
- via a Mobile Wallet (such as Apple Pay or Google Pay).
The same terms apply to your debit card, regardless of whether you are using the contactless-enabled physical card, the digital card as stored in the HSBC Expat Mobile Banking
App, or either of these cards stored into your Mobile Wallet.
All fees and charges related to the Global Money Debit Card are listed in our Tariff of Charges.
Security
To protect you from fraud, we may place additional limits on your Global Money Debit Card until you have received it and used it in a Chip and PIN transaction, either in-store or at an ATM.
As part of the security measures for your Global Money Debit Card, we will send you SMS messages and/or emails for verification purposes. We will do this when you make purchases or undertake other activities with your card (such as adding the card to a mobile wallet). To ensure you can order the card and successfully complete transactions, you must make sure that the phone number and email address held by us are correct.
Currencies and Foreign Exchange
The base currency of the Global Money Debit Card is pounds sterling (GBP).
You may use the Global Money Debit Card to transact in multiple currencies directly from your Global Money Account, and many more with a foreign exchange from your GBP Sterling balance.
When making a payment, if you have enough of the transaction currency in your Global Money Account, we will process the payment using that currency balance (excluding Chinese Yuan Renminbi). If you don't, we'll deduct enough money from the Global Money Account in pounds sterling (GBP) to make the payment and convert it. If you have some, but not all, of the funds in the transaction currency, we will make a split payment, debiting that currency first and taking the remainder of the balance from your pound sterling (GBP) balance.
If the payment requires a foreign exchange and is in a currency available in the Global Money Account, we'll convert it using the HSBC Global Money Exchange Rate. If it isn't, the card scheme (Visa) will convert the transaction. They’ll do this on the day they process it using their exchange rate. You can check the exchange rate by visiting the card scheme’s website.
You must make sure there are sufficient balances in your wallet in the correct currency and/or pound sterling (GBP) in order to complete the transaction, otherwise your payment will be declined.
Cancelling your card
You may cancel your Global Money Debit Card through the HSBC Expat Mobile Banking App or, if you are unable to access mobile banking for whatever reason, via telephone banking. The cancellation of the Global Money Debit Card will result in the automatic cancellation of both physical and digital cards, but will not affect your Global Money Account. If you have any pending transactions, you will not be able to cancel your Global Money Debit Card until these transactions are settled.
Mobile Wallets
A mobile wallet or e-wallet is a service which allows you to store your card on a mobile device and use that device to make payments in-store or online, such as Apple Pay or Google Pay.
You may need to agree separate terms with the Mobile Wallet Provider, which govern the registration and storage of a digital version of your Global Money Debit Card in the Mobile Wallet and the use of the Mobile Wallet (including the use of any data you provide to the Mobile Wallet Provider). Those separate terms you agree with the Mobile Wallet Provider will not change or override these Global Money terms or any of our other terms and conditions.
Apple and Apple Pay are trademarks of Apple Inc., registered in the U.S. and other countries.
Suspension of your card
There are a number of circumstances in which we can suspend or restrict your card, but there are a couple of additional circumstances that apply to the use of a card registered on a device or with an e-wallet. These are where:
- the service is no longer available to our customers; or
- you have notified the e-wallet provider, the device manufacturer or a mobile network provider to whom you have been advised to report your device as lost or stolen and they take steps to suspend the cards registered in an e-wallet or on a device.
Using a card registered on a device or within an e-wallet to make payments
If you have registered for an e-wallet, you can use a card stored in it or a card stored on your device to make payments to retailers who accept contactless payments and display the same card scheme sign as on your card (Visa). Contactless payment limits may apply to transactions authorised using a card stored in an e-wallet or on your device. This can vary between retailers and payment card terminals that are used. We may therefore refuse a payment transaction if it exceeds the current contactless limit applicable to a specific retailer.
You can authorise a card payment using a card stored on a device or in an e-wallet by following the procedures notified to you by the device manufacturer or e-wallet provider. For example, this will include:
- at a retailer's premises by holding your device (e.g. your compatible smartphone or associated watch) within a few centimetres of a card reader and entering the security details requested (this includes any device security information and any fingerprints stored in your device). You may also be required to activate your phone or device first or enter security details before presenting the device to a card reader
- to make an "in App" purchase on your compatible device with a participating retailer by selecting to pay by that method and entering the security details requested for that type of payment (which may include your device security details).
If you have stored more than one card on a device or in an e-wallet, you may be required to select a default card. When you authorise a payment, it will relate to your default card unless you actively select a different card.
Our responsibilities when things go wrong
Your card agreement sets out who is responsible when different things go wrong. We won't be responsible if you are unable to use a device, an e-wallet or any of your cards stored on a device or within an e-wallet unless this is as a result of something we have done. This is because these services are not provided by HSBC and we do not control the platform, e-wallet or device.