HSBC TO LAUNCH THE FIRST-EVER TWELVE-CURRENCY DEBIT CARD IN HONG KONG

HSBC announced it will launch the first-ever 12-currency Mastercard debit card in Hong Kong for HSBC Jade clients this September, enabling clients to enjoy hassle-free travelling experience, shopping online and overseas with 12 different currencies without worrying about currency fluctuation or exchange charges.

 

The HSBC Jade Mastercard debit card is a first-in-town product which allows access to 12 designated currencies, including AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, RMB, SGD, THB and USD. The Card can be used for purchase at local and overseas merchants, online shopping and payments where Mastercard is accepted, using any of these 12 currencies to settle transactions at no additional fee. Clients can also withdraw cash overseas1 across HSBC or Mastercard ATM networks anywhere in the world free of charge.

 

Greg Hingston, Head of Retail Banking and Wealth Management, Hong Kong, HSBC, said, “Hong Kong people love to travel and this first-in-town multi-currency debit card is designed with their lifestyle in mind. It allows customers to shop overseas without worrying about currency fluctuation and extra charges that may turn up as a statement surprise. Customers can withdraw cash free of charge overseas should they run out of cash. This new travel companion will make the journey more relaxed and hassle free.”

 

All HSBC Jade clients are eligible to have the HSBC Jade Mastercard debit card for free which they will receive from September onwards. Card holders can take better control of their spend by purchasing foreign currencies at their preferred rate in their accounts any time prior to their travel. HSBC Jade clients can enjoy preferential time deposit rate if they perform designated foreign exchange transaction and placing time deposit2. New HSBC Jade clients can also enjoy preferential exchange rate3.

 

When making payments with the Card, it will self-select the corresponding currency to be deducted from the account. If there are insufficient funds in the nominated currency, the Card will automatically purchase additional foreign currency from client’s HKD account using the Bank’s real-time preferential exchange rate for HSBC Jade clients to proceed with payment without any handling fee.

 

Additionally, Card holders can have access to Global Blue City VIP lounges and priority lane at Global Blue Tax Refund counters, as well as complimentary golf program at 10 selected golf courses in China, Indonesia, Japan and Thailand. Besides these privileges, the Card is a symbol of the holder’s distinctive HSBC Jade status and enables easier access to the array of exclusive services and lifestyle privileges that HSBC Jade clients are already enjoying, simply by presenting the Card.

 

This first ever 12-currency Mastercard debit card will be available to HSBC Jade clients this September. HSBC will launch another multi currency debit card to a wider range of customers next year.

 

HSBC Jade offers a unique combination of personalised relationship management, advanced wealth solutions and luxury lifestyle services to support the needs of high net worth clients. It is a distinctive standalone service for clients with complex investment needs and investible assets above USD1 million.

 

HSBC Jade clients are served by dedicated and experienced relationship managers – HSBC Jade Directors – alongside a team of multi-disciplinary wealth experts who support clients on wealth management strategy, leveraging the insights of HSBC’s global wealth management franchise.

 

For details about HSBC Jade, please visit the public website at www.hsbc.com.hk/jade/

Want to discover more?

 

HSBC Jade is a privileged and personalised service for clients who maintain an average daily Total Relationship Balance of at least HKD7.8M with us in Hong Kong. Terms and Conditions apply.

 

Please contact us to find out more.

Existing Customers
New Customers

1 Overseas ATM daily withdrawal limit is pre-set to zero to strengthen security controls for ATM services. Prior setting of overseas ATM withdrawal limit is required to enable overseas cash withdrawal. This can be done conveniently through Phone Banking, at any HSBC Branch or through any HSBC/ Hang Seng ATM in Hong Kong.


2 Foreign Exchange / Time Deposit Offers for HSBC Jade clients
HSBC Jade clients performing designated foreign exchange transaction and placing time deposit with HKD50,000 (or equivalent) or above, can enjoy preferential time deposit rate. 

See below table.
Time Deposit Rate Table

Currency exchange to (Designated Currency)

1-week (Interest Rate per annum)
1-month (Interest Rate per annum)

Australian Dollar (AUD)

10.00%

3.50%

Canadian Dollar (CAD)

10.00%

2.50%

Pound Sterling (GBP)

6.50%

2.00%

New Zealand Dollar (NZD)

8.80%

3.50%

Renminbi (RMB)

5.50%

4.00%

US Dollar (USD)

8.80%

2.60%

Hong Kong Dollar (HKD)

4.00%

2.00%

See below table.
Time Deposit Rate Table

Currency exchange to (Designated Currency)

Australian Dollar (AUD)

1-week (Interest Rate per annum)

10.00%

1-month (Interest Rate per annum)

3.50%

Currency exchange to (Designated Currency)

Canadian Dollar (CAD)

1-week (Interest Rate per annum)

10.00%

1-month (Interest Rate per annum)

2.50%

Currency exchange to (Designated Currency)

Pound Sterling (GBP)

1-week (Interest Rate per annum)

6.50%

1-month (Interest Rate per annum)

2.00%

Currency exchange to (Designated Currency)

New Zealand Dollar (NZD)

1-week (Interest Rate per annum)

8.80%

1-month (Interest Rate per annum)

3.50%

Currency exchange to (Designated Currency)

Renminbi (RMB)

1-week (Interest Rate per annum)

5.50%

1-month (Interest Rate per annum)

4.00%

Currency exchange to (Designated Currency)

US Dollar (USD)

1-week (Interest Rate per annum)

8.80%

1-month (Interest Rate per annum)

2.60%

Currency exchange to (Designated Currency)

Hong Kong Dollar (HKD)

1-week (Interest Rate per annum)

4.00%

1-month (Interest Rate per annum)

2.00%

The interest rates are indicative as of 9 July 2019. They are not guaranteed and may be subject to revision, as per prevailing market conditions. Terms and Conditions apply.

 

3 Preferential exchange rate
New HSBC Jade clients can enjoy HSBC’s Cost Price for foreign exchange at any branch in Hong Kong during the first and second calendar month after they have successfully obtained Jade status. The offer is applicable to currency exchange from HKD to any one of the designated foreign currencies: AUD, CAD, GBP, EUR, JPY, NZD, RMB, SGD, and USD.

 

HSBC’s Cost Price refers to the exchange rate without sales margin normally charged in the transaction by the Bank. Other mark-up applied in the exchange rate for operational reasons is not waived. The offer is applicable to clients who become HSBC Jade clients between 3 June 2019 and 30 September 2019. Terms and Conditions apply.