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Foreign Currency Bonus Savings Account

Saving just got more rewarding with a Monthly Bonus rate.

HSBC Foreign Currency Bonus Savings Account

Build your foreign currency savings with the benefit of easy access to your money via branch, phone, internet or mobile banking.
  • An HSBC Foreign Currency Bonus Savings Account is available in major currencies
  • No monthly account fee or minimum ongoing balance
  • Access HSBC real-time2 exchange rate quotes
  • Variable base interest rate paid on balances up to the applicable foreign currency amount listed below
  • Monthly Bonus variable interest is applicable to major foreign currency accounts when meeting the minimum balance increase criteria1

Rates & Fees:

  • $0 Monthly account fee
  • $0 Phone banking fee

Ways to open:

Online, Branch, Phone

Features & Benefits

Build your savings

  • Open multiple accounts to save in major foreign currencies for different saving goals
  • Rename your accounts online through Personal Online Banking
  • Interest is calculated daily and paid monthly

Account Access

  • Online and Mobile Banking
  • 24 hours a day, 7 days a week Phone Banking
  • Branch
  • Direct debits and credits
  • International Transfers

Statements

You'll automatically receive a statement every 6 months or you can request monthly or quarterly statements.

Switch to e-Statements and e-Notifications so you can check your statements and account notifications via Personal Internet Banking. Switch to paperless today via Internet Banking.

Monthly Bonus

To receive the Monthly Bonus, simply:  

  1. Ensure the closing account balance at the end of the month has increased by an amount greater than the applicable minimum monthly amounts listed in the table below by comparison to the opening balance of that same month.
  2. The minimum increase doesn't include any interest paid into the account in that month. 
  3. Where eligibility has been established during the month, the bonus interest will be calculated daily on the account from the first working day of that month.
  4. Interest is calculated daily and paid monthly, eligible on balances up to the applicable foreign currency amount listed below.
  5. If you miss out on receiving your Monthly Bonus, you will still receive the variable base rate. The Monthly Bonus resets every month so you will have the opportunity to qualify again during the following month.

Available currencies

Make the most of currency movements as they occur with HSBC Real Time Exchange Rates,2 whether you're transferring to your own HSBC Australia accounts or making international transfers.2

USD and HKD currency note transactions are only available at selected HSBC Branches4. Please give the branch 24 hours' notice for USD and HKD cash withdrawals, and we’ll do our best to make this available, however, it's subject to branch availability. To find out more please call us on 1300 308 008.

 

Account Fees and Charges

Fees and charges for the HSBC Foreign Currency Bonus Savings Account

Monthly account fee

$0

Phone Banking fees

$0

HSBC Bonus Savings Account Foreign Currency Variable Interest Rates3

Interest rates for the HSBC Foreign Currency Bonus Savings Account
Currency Increase requirement in FCY Currency Max Limit Standard variable rate Monthly Bonus variable rate (inclusive of Standard variable rate) Foreign currency day count conventions*
United States Dollars (USD) $300 $5,000,000 1.50% 4.50% 360
Euro (EUR) € 300 € 4,000,000 1.50% 4.50% 360
Great Britain Pound Sterling (GBP) £250 £3,500,000 1.50% 4.50% 365
Hong Kong Dollars (HKD) $2,500 $40,000,000 1.50% 4.50% 365
Singapore Dollars (SGD) $350 $6,200,000 1.50% 4.50% 365
Canadian Dollars (CAD) $300 $5,000,000 1.50% 4.50% 360
New Zealand Dollars (NZD) $350 $6,000,000 1.50% 4.50% 365
Japanese Yen (JPY) ¥30,000 ¥500,000,000 0.01% 0.25% 360
Chinese Yuan Renminbi (CNY) (currency restrictions apply) ¥2,000 ¥35,000,000 1.50% 4.50% 360
Interest rates for the HSBC Foreign Currency Bonus Savings Account
Currency United States Dollars (USD)
Increase requirement in FCY Currency $300
Max Limit $5,000,000
Standard variable rate 1.50%
Monthly Bonus variable rate (inclusive of Standard variable rate) 4.50%
Foreign currency day count conventions* 360
Currency Euro (EUR)
Increase requirement in FCY Currency € 300
Max Limit € 4,000,000
Standard variable rate 1.50%
Monthly Bonus variable rate (inclusive of Standard variable rate) 4.50%
Foreign currency day count conventions* 360
Currency Great Britain Pound Sterling (GBP)
Increase requirement in FCY Currency £250
Max Limit £3,500,000
Standard variable rate 1.50%
Monthly Bonus variable rate (inclusive of Standard variable rate) 4.50%
Foreign currency day count conventions* 365
Currency Hong Kong Dollars (HKD)
Increase requirement in FCY Currency $2,500
Max Limit $40,000,000
Standard variable rate 1.50%
Monthly Bonus variable rate (inclusive of Standard variable rate) 4.50%
Foreign currency day count conventions* 365
Currency Singapore Dollars (SGD)
Increase requirement in FCY Currency $350
Max Limit $6,200,000
Standard variable rate 1.50%
Monthly Bonus variable rate (inclusive of Standard variable rate) 4.50%
Foreign currency day count conventions* 365
Currency Canadian Dollars (CAD)
Increase requirement in FCY Currency $300
Max Limit $5,000,000
Standard variable rate 1.50%
Monthly Bonus variable rate (inclusive of Standard variable rate) 4.50%
Foreign currency day count conventions* 360
Currency New Zealand Dollars (NZD)
Increase requirement in FCY Currency $350
Max Limit $6,000,000
Standard variable rate 1.50%
Monthly Bonus variable rate (inclusive of Standard variable rate) 4.50%
Foreign currency day count conventions* 365
Currency Japanese Yen (JPY)
Increase requirement in FCY Currency ¥30,000
Max Limit ¥500,000,000
Standard variable rate 0.01%
Monthly Bonus variable rate (inclusive of Standard variable rate) 0.25%
Foreign currency day count conventions* 360
Currency Chinese Yuan Renminbi (CNY) (currency restrictions apply)
Increase requirement in FCY Currency ¥2,000
Max Limit ¥35,000,000
Standard variable rate 1.50%
Monthly Bonus variable rate (inclusive of Standard variable rate) 4.50%
Foreign currency day count conventions* 360

*The interest on foreign currency deposits is calculated on a 360 or 365 day basis. This is referred to as the day-count convention. The day-count conventions for the above foreign currencies are set out in the above table.

Variable rates current as at 11 September 2023 (and subject to change)3

Apply for an HSBC Foreign Currency Bonus Savings Account

Apply by phone or branch 

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Terms & Conditions 

  1. No interest is incurred on the portion of balances over the maximum amount listed in the table on this page. Ensure that on the last business day of the month, your closing balance has increased by an amount greater than the applicable minimum monthly amount listed in the table above, by comparison to the opening balance of that same month. Interest paid is excluded from  the minimum monthly increase requirement. Both the monthly Bonus rate and the base rate are variable and are subject to change. Current rates can be viewed by visiting hsbc.com.au/accounts/savings/. Monthly Bonus rate applies for the month the eligibility criteria is met, calculated from the first business day of that month. Interest is calculated daily on the total balance and paid monthly, on the first business day of the following month.
  2. HSBC Real Time Exchange Rates will apply for AUD, USD, EUR, GBP, CNY, HKD, CAD, NZD, JPY, CHF, SGD, AED, DKK, MXN, NOK, SAR, SEK, THB and ZAR when using HSBC Online or Mobile Banking for transfer between HSBC Australia accounts and international transfers within currency cut-off times.

    HSBC Real Time Exchange Rates will apply when the foreign exchange (FX) market is open. When the FX market is closed on weekends (that is from the US market closing time on Friday to the Asia market opening time on Monday), the HSBC real time exchange rate is priced off the exchange rate applying at the time the US market closed plus an additional weekend margin.

    The HSBC Real Time Exchange Rate will not apply on currency holidays, on NSW and US public holidays, to transfers in currencies not listed above and to transfers outside of HSBC Australia entered after currency cut-off times. Instead, the HSBC Daily Exchange Rate, which is set and refreshed every 30 minutes daily from 7:00 AM to 7:00 PM (excluding weekends and NSW public holidays) will apply.

    For future dated transactions via HSBC Online or Mobile Banking, the HSBC Daily Exchange Rate on the future date of the transaction will apply.

    HSBC Real Time Exchange Rates will apply for Global Transfers between your HSBC Accounts. For transfers in unsupported currencies using Global Transfers, the receiving country’s daily exchange rate will apply and currency cut-off times of the receiving country may also apply. For future dated transactions using Global Transfers, the HSBC Real Time Exchange Rate on the future date of the transaction will apply when the FX market is open.

    Transfer and correspondent banking fees may apply for transfers outside of HSBC Australia.

    FX transactions are subject to foreign exchange risk associated with exchange rate movements. HSBC accounts should not be used for speculative FX purposes.

    This information doesn't take into account your objectives, financial situation or needs. You should consider these matters and read the relevant Product Disclosure Statement (PDS) and Terms and Conditions before you make an investment decision. A copy of the PDS and Terms and Conditions are available on hsbc.com.au, or by calling us on 1300 308 008. The foreign exchange market is subject to risks associated with exchange rate movements. These accounts should not be used for speculative purposes. Other fees and charges may apply.
  3. Rates are current as at 11 September 2023 and subject to change. No interest is incurred on the portion of balances over AUD$ 5 million equivalent

    Other fees and charges may apply. See our Personal Banking Booklet (PDF, 1.50 MB). This advertisement provides general advice only and doesn't take into account your objectives, financial situation or needs. Consider the Transaction and Savings Accounts Terms (PDF, 1.10 MB) and Financial Services Guide (PDF, 906 KB) before acquiring this product, available by calling 1300 308 008, at your local branch or www.hsbc.com.au. Issued by HSBC Bank Australia Limited ABN 48 006 434 162. AFSL 232595.
  4. USD and HKD cash transactions are available at selected HSBC branches. For USD and HKD deposits, these must be notes only and in multiples of 10. Cash transactions in USD and HKD are subject to cash handling fees. Please refer to the Personal Banking Booklet (PDF, 1.50 MB) for HSBC accounts for more information.