Dear all sifus,

Does anyone have HSBC Everyday Global Account Malaysia?
Recently I opened the this account and based on understanding there is multicurrency account (SGD, AUD, USD etc etc).

I login to my HSBC account and I can see a list of accounts (all same account number) but with different currency.

May I know how for example if I would like to receive money in different currency aside from RM?
For example, if I would like to receive SGD transfer from SG bank? Is that possible?
Or I need to receive it in RM and self transfer it to my internal SGD account number inside HSBC?

And if it is possible, how does one made the transfer?
If I have UOB SG banking, do I just transfer by selecting HSBC SG? or to choose HSBC MY?

Appreciate if anyone have this banking and did made any soft of multicurrencies transfer before.
Thanks

There's 5 questions there. I suggest calling HSBC up and get their official response. That's what I normally do first, because those guys are actually being paid to provide us customer service...

Hi,

Thanks for the feedback.
I did try calling the customer service but seems hard to get anyone to answer my call.
I tried with chat function and got 1 agent just inform me that yes it is allowed.

However I did try performing a transaction from SG bank to this HSBC account but it failed hence asking guidance if anyone have this account.

Thanks again.

Ok great. Thanks for clarifying.
Yes.
The HSBC MY account can receive directly from your UOB SG bank. You will incur TT charges by UOB and HSBC MY will charge you SGD$6.

you can receive all the supported currency directly to your account...but fees apply. Personally, i rather use Wise unless the sender needs a bank account under your legal name.

$6 .... so damn expensive? Are you HSBC Premier customer? Possible to get it waived?

FCA with other local banks are much cheaper and some even waive the incoming TT fees.

What the requirement to apply this account? What the benefit for this account? I can do unlimit transaction per month?

no charges if you are HSBC premier , 200k min AUM to eligible.

To OP:

You need to provide SWIFT code to sender to send to your EGA account, as long supported currency is available, it will be kept in origin denominator.

MY EGA cannot move funds out to third party bank. You need to open EGA SG and move the funds to EGA SG and then you can transfer out to anywhere.

EGA MY have fees below when receiving $. Some HSBC EGA in other countries waives TT charges, need to ask the bank.



This post has been edited by MystiqueLife: Dec 30 2022, 03:31 PM

but then there's this commission in-lieu of currency conversion, like $4 usd.

which means if you've USD and you wanna TT USD, you've to pay $4 commission, on top of cable charges + TT charges and what not!

Yes fixed commission on top of cable+TT+FX spread

In the end not worth it just to transfer same currency to different accounts 🤦‍♀️

The global transfer is free to other country branch. I transfer to Wise to convert and move back into it without any TT fees.

eh.. the global transfer is only to HSBC account, no?

say it again, transfer RM to Wise, convert to foreign currencies (example USD) and then transfer the USD back to HSBC??

Got two ways:

HSBC RM > Wise > HSBC MY FCY

HSBC MY > GTT > HSBC FCY (some other country except MY) > Create payment conversion in Wise & Enter destination account info > Send to Wise account from Mobile banking app (0% cost) > Wait receive from Wise

Sorry, I need to ask more questions about this.

For the first method "HSBC RM > Wise > HSBC MY FCY",
(1) when Wise transfer non-MYR to HSBC MY FCY, the cost is higher, no?
Like if Wise transfer USD to HSBC MY FCY, there could be 14usd charge according to Wise's website.

(2) According to HSBC website, when receiving USD into HSBC MY FCY, there's commission in-lieu of currency conversion of 4USD but you've confirmed that this is waived for HSBC premier customer?

-------------------------------------

For the second method "HSBC MY > GTT > HSBC overseas FCY", I'm confused.
Do you mean GTT MYR to HSBC overseas in MYR, without currency conversion?

If you use Wise, then no need GTT.
HSBC MY > Wise > HSBC overseas FCY.

The GTT is just an HSBC feature, to allow money transfer between HSBC MY to HSBC overseas, no? Am I mistaken?

This post has been edited by tradingGo: Dec 31 2022, 04:55 PM

Hi guys, can hsbc everyday global account in malaysia transfer usd to rhb bank multi currency acc locally?

ben3003 when I go RHB branch to ask, they say Malaysian govt disallowed local USD multi currency to local USD multi currency acct

I wanted to send USD to hata labuan from RHB mcaIn fact same thing for USD wise also. You cannot send wise USD from Malaysian user A to user B wise USD

This post has been edited by Medufsaid: May 12 2025, 07:07 PM

RHB MCA : It's possible to receive foreign currencies (USD inclusive) from a local MCA into RHB MCA, provided the sender & receipient names are the same. It is a TT transaction which may incur sending bank and/or 3rd pary correspondent bank charges. Apparently, RHB MCA foregin currency outgoing transfer to a local MCA is not allowed.

Wise MY : It's possible to transfer foreign currencies (eg. USD) to a Malaysia MCA, provided MYR is involved, ie. you "convert & send" Wise MYR --> USD into local MCA. The fee is high !

Hmm like tat better sekaligus send from outside easier, since sama saja.