Option 1: Open an HSBC account in a different country with the local currency there HSBC is, however, a large multi-national company. Earn interest on your deposits. And though neither HSBC USA nor Citibank US offer foreign currency accounts themselves, as large international institutions, they do have specialist offshore operations that may be of service. The 6-month automatic deferment period has ended on 30 September 2020. At a glance ... You are leaving the HSBC Commercial Banking website. You may only have limited access to your HSBC Currency Account(s) during this time, if you’re accessing it through online banking, During this maintenance period, you’ll be able to view your account but the balances and transactions may not be up to date. * subject to currency cut-off time and further checks, as from time to time we may need to conduct additional security checks to validate the payment. No, once the deposit has been placed the rate will remain fixed for the duration of the deposit and subsequent reinvestments will be priced at the prevailing interest rate. Foreign Currency Account If you do business overseas, our choice of specialist account options could give you essential support in key areas such as importing and exporting, foreign currency and international payments. The Hongkong and Shanghai Banking Corporation Limited Experience a new style of banking that revolves around your needs and is tailored to what you want. 487 of the Laws of Malta). All rights reserved. Australian Dollar, Canadian Dollar, Euro, Hong Kong Dollar, New Zealand Dollar, Pound Sterling, Renminbi and Swiss Franc. HSBC is licensed to conduct investment services in terms of the Investment Services Act (Cap.370. For the purpose of this calculation it is assumed: You need a sterling business account (current or instant access savings account) and a International business account (current or savings) in the same currency as the term deposit before you can open this deposit (and must hold such account for as long as you have this deposit). If you have been financially impacted by the coronavirus, please ensure you apply for your payment holiday by this date. This site is primarily intended for those who access it from within Malaysia. Normally, the interest rate paid depends on how much you deposit in your account, however, at the moment, because of market conditions, the rates are the same for some or all balances on all currencies and in some cases are 0%. This account is set up on the basis there are different tiers of interest rate. A foreign currency denominated interest-bearing account (FCA) which provides the opportunity to hold accounts in up to 12 foreign currencies. The Hongkong and Shanghai Banking Corporation Limited is an entity regulated by the Bangko Sentral ng Pilipinas (Bangko Sentral). You can create immediate payments to send money outside the UK, or set these up online up to a year in advance or on a recurring basis. Online: up to £50,000 (or currency equivalent), Over the phone: unlimited for Premier customers, and up to £10,000 (or currency equivalent) for non-Premier customers. Changes in rates of currency exchange will directly impact the relative value of your currency deposit which will decrease or increase accordingly. For the purpose of this calculation, it is assumed: For the purpose of this calculation it is assumed: If you do not have a Relationship Manager, you will need a Sterling Business Account (current or savings) before you can open an international instant access savings account. Small Business Customer means a business customer which has fewer than 10 employees and an annual turnover and/or balance sheet total of £2 million or less (or, if part of a group, the group has an annual turnover and/or balance sheet total of £2 million or less), Small Charity Customer means a UK registered charity whose annual income is less than £1 million, Larger Corporate Business Customer means any business customer whose accounts are held with us in the UK, which isn’t a Small Business or a Small Charity Customer, Agreed negotiated credit interest: 0.20% (for indication purposes only), No maximum balance limit (but once opened, you can't add more money to it), You can withdraw the full amount of the deposit before it matures, as long as it’s less than £50,000 (or currency equivalent), You can’t withdraw part of the money from a deposit, You can’t withdraw a deposit for £50,000 or more (or currency equivalent) before it matures, We charge a minimum fee of US$260 or EUR220 (or the US dollar equivalent) for early withdrawals (subject to change for new and renewed deposits, but not for any deposits you already have), You can move all or some of the money to another account in the same name and currency; or, Large Corporate Business Customer means any business customer whose accounts are held with us in the UK, which isn’t a Small Business or a Small Charity Customer. If you want to find out more about HSBC's customer feedback procedures, please visit hsbc.com.ph/feedback. Find out what a limit order is and how it could be useful. Download Adobe Reader. No matter how many times you move to a different country, your account with us stays the same. *Our lines are open from 8am to 10pm every day (excluding Christmas Day, Boxing Day and New Year's Day). You can receive a monthly account statement consolidating all your accounts with HSBC. All in all, this means the choice of foreign currency accounts available is limited. Keep your account in one place while you focus on expat life. Find the support you need to help your business get ahead, along with clear pricing so you know where you stand, Find an account to suit your business - whether you're just starting out or looking to switch banks, Separate your business spending, stay in control of your expenses and reduce your need for cash, Earn interest on surplus cash while keeping funds easily available for your business, Let us help your business to achieve its ambitions with our range of credit and lending facilities, Access and manage your trade requirements – whenever and wherever you need to, Discover a wide range of business finance solutions to help you achieve your business goals, Take advantage of our international expertise to help you remove some of the risks associated with global payments, Provide your customers with a choice of ways to pay - online and in your retail outlet - to help you improve your cash flow, Discover secure ways of receiving your goods and use our trusted payment methods to help you trade with confidence, Find the cover you need quickly and easily with a tailored insurance policy from our preferred partners, Free up your working capital and keep your business running smoothly with our invoice finance solutions, Let us take the complexity out of payments and handle them efficiently so you can focus on running your business, About clearing and foreign currency payments, Take advantage of our expertise and you'll be able to make and receive domestic and global payments with ease. Let our cash consultants simplify your payables so you can make payments swiftly, efficiently and securely. Our website doesn't support your browser so please upgrade. AER stands for annual equivalent rate. Ability to deposit or transfer funds to and from Savings or Current Account. interest on RM balances with Everyday Global Account, Earn up to 3.25% p.a. It connects to your home account, for financial commitments in your home country, and to your local accounts, for everyday expenses in the country you’ve moved to. of the Laws of Malta) and is enrolled as a Tied Insurance Intermediary for HSBC Life Assurance (Malta) Ltd under the Insurance Distribution Act (Cap.