A world of banking in your pocket
Many of our customers have banking needs that are as international as their lives, whether travelling, working or studying abroad.
Global Money Account – our new, free, mobile-based service – initially allows users to hold, manage and send funds in various currencies to HSBC customers in over 20 markets around the clock in real-time without incurring any fees.
They will also receive preferential FX rates within the Global Money Account, and have a seamless and convenient customer experience with day-to-day account tasks.
Matthias Dekan, Head of HSBC Global Money, said: “Our aim is for Global Money Account to support our customers to manage their finances from their homes or on the go, wherever they are in the world.”
Global Money Account is launching in the US first, and will be rolled out to other markets in 2021. Customers can get instant access in just five clicks via their existing banking app.
And the arrival of Global Money Account couldn’t be more timely, according to Dekan, with COVID-19 lockdowns accelerating the use of mobile banking, in particular for payments, since the start of 2020.
Especially during a time of uncertainty, customers need the assurance their funds will be transferred instantly and cost-effectively.
“At HSBC, we strive to be the leading international bank in the US and to have a top-tier customer experience across global markets,” said Carolyn Criscitiello, Head of Digital Payments Wealth and Personal Banking, HSBC USA.
“The ambition for Global Money Account is to provide our customers with one global account for all of their financial needs so that if they move from one market to another, they don’t need to open a new account, they just take their existing account with them. This will allow them to pay bills in multiple markets, make cross border transfers and spend like a local wherever they are.”
In the future, we’ll be extending the payment service to allow instant international transfers to customers with other banks, too.
The launch of the service reflects HSBC’s ongoing commitment to investing in technology to make banking simpler, safer and more personalised for our customers. In 2020 we are spending USD5.8 billion in technology and digital platforms that streamline operations and support growth.