Looking for a comprehensive guide to the HSBC Everyday Global Multi-Currency Account?
Here’s everything you need to know about the HSBC EGA, including its fees, rates, benefits, and cashback — plus how it compares to other multi-currency solutions like YouTrip.
In today’s connected world, managing multiple currencies in one place can save you time and money. Whether you’re sending or receiving money overseas, paying for online purchases, or getting paid for freelance gigs, a multi-currency account like the HSBC Everyday Global Account (HSBC EGA) helps you avoid hidden fees, poor exchange rates, and the hassle of juggling different bank accounts.
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📚 Table of Contents:
- What is an HSBC EGA Account?
- Key HSBC EGA Benefits & Features
- HSBC Everyday+ Rewards, Cashback & Interest Rates
- HSBC Everyday Global Account Fees, Minimum Balance & Fall Below Fee
- Eligibility: Who Can Open an HSBC EGA in Singapore?
- Using the HSBC Everyday Global Account (HSBC EGA)
- HSBC EGA vs. YouTrip: Multi-Currency Account Comparison
- HSBC EGA Review: Is It Worth It?
- What is YouTrip?
What is an HSBC EGA Account?
Image Credits: HSBC Malaysia
An EGA account (Everyday Global Account) is a multi-currency savings account from HSBC Singapore that lets you hold, manage, and spend in up to 11 currencies — including SGD, USD, EUR, GBP, AUD, NZD, CHF, CAD, HKD, JPY, and CNY — all from one account.
With the linked HSBC Everyday Global Debit Card, you can:
- Spend in local currency overseas without foreign transaction fees.
- Withdraw cash at HSBC ATMs worldwide, fee-free (exceptions apply).
- Avoid exchange rate markups by converting at real-time competitive rates via the HSBC Singapore app.
It’s especially useful for frequent travellers, expats, online shoppers, and anyone who needs a flexible global banking solution.
👉 Also read: CashChanger.co Vs YouTrip: Where To Get The Best Exchange Rate In Singapore?
Key HSBC EGA Benefits & Features
Here’s what makes the HSBC EGA Singapore stand out:
- Multi-Currency Wallet – Hold and transact in up to 11 major currencies.
- HSBC Global Money Transfers – Send money to over 50 countries instantly and fee-free via the HSBC app, or use SWIFT to 200+ countries.
- HSBC Everyday+ Rewards Programme – Earn cashback and bonus interest when you meet deposit and transaction criteria.
- Fee-Free Overseas Withdrawals – Use HSBC ATMs worldwide without extra charges (some countries excluded).
- Competitive FX Rates – Convert currencies at real-time, bank-determined rates in-app.
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HSBC Everyday+ Rewards, Cashback & Interest Rates
The HSBC Everyday Global Account (EGA) offers both interest and cashback perks through its Everyday+ Rewards Programme and seasonal promotions.
👉 Base Interest Rate
- Earn 0.05% p.a. on your account balance by default.
👉 Everyday+ Rewards Bonus Interest
- Earn an additional 1% p.a. on your incremental SGD average daily balance when you:
- Deposit at least S$2,000 in fresh funds monthly, and
- Make at least 5 eligible transactions (HSBC Visa Debit Card spend or GIRO bill payments).
- Bonus interest is typically capped (e.g. S$150/month for personal banking customers).
👉 Cashback Perks
- Unlock 1% cashback on:
- Eligible HSBC Visa Debit Card purchases
- Eligible GIRO bill payments
- Cashback cap: S$300 per calendar month for personal banking customers.
Promotional Interest Rates
- HSBC often runs limited-time promotions with higher interest rates (sometimes up to 3.50% p.a.) — especially for fresh deposits.
- Promotions may include extra perks for specific customer groups or wealth tiers.
- Always check the HSBC Singapore website for the latest terms, rates, and eligibility criteria.
💡 Tip: To maximise your returns, aim to hit both the deposit + transaction criteria every month so you can stack bonus interest with cashback.
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HSBC Everyday Global Account Fees, Minimum Balance & Fall Below Fee
- HSBC Everyday Global Account Minimum Balance: Maintain a S$2,000 average daily balance.
- HSBC Everyday Global Account Fall Below Fee: S$5 fee if your balance dips below the minimum.
- Monthly Fee: None, if you meet the minimum balance requirement.
- Initial Deposit: S$100 minimum to open the account.
- Early Closure Fee: S$50 fee if you close your account within 6 months.
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Eligibility: Who Can Open an HSBC EGA in Singapore?
- Singapore Citizens and Permanent Residents
- Foreigners with a valid Employment Pass or relevant visa
- At least 18 years old
- Individuals aged 12 to 17 are eligible for a joint account with a parent or legal guardian.
Applications can be completed online using SingPass MyInfo for faster approval. Foreigners or those who don’t have MyInfo can apply using HSBC EasyID.
👉 Also read: DBS Multi-Currency Account (MCA) Guide 2025: Features, Exchange Rates, Fees
Using the HSBC Everyday Global Account (HSBC EGA)
- Travel: Load the currency you need before your trip and spend it in local currency abroad.
- Online Shopping: Pay in stored foreign currencies to avoid conversion fees.
- ATM Withdrawals: Withdraw cash worldwide at HSBC ATMs without fees (except in some countries).
- Contactless Payments: Use your Visa Debit Card with Apple Pay or Google Pay.
- International Transfers: Send money to over 200 countries via SWIFT.
👉 Related: Best Multi-Currency Cards In Singapore (2025): A Full Comparison Guide
HSBC EGA vs. YouTrip: Multi-Currency Account Comparison
Here’s how the HSBC Everyday Global Account compares to another multi-currency option like YouTrip.
| Multi-Currency Accounts | YouTrip | HSBC EGA |
|---|---|---|
| Multi-Currency Card | YouTrip Mastercard | HSBC Everyday Global Debit Card |
| Currencies Available | Over 150+ countries 12 wallet currencies | 11 wallet currencies |
| Exchange Rates | Wholesale Exchange Rates | Determined by Bank |
| Annual Fees | None | None |
| Foreign Transaction Fees | No FX fees for all currencies. | No foreign transaction fees when sufficient foreign currency is available in your EGA. ❗️ 1.5% FX fee applies to all other currencies not available in your EGA. |
| Initial Deposit | No initial deposit required | S$100 |
| Monthly Account Fees | None | None (min. balance applies) |
| Overseas ATM Withdrawal Fee | *Free S$400 monthly with a 2% fee thereafter | Free at HSBC ATMs only (exceptions apply). ❗️ An S$8 fee will apply when withdrawing from non-HSBC ATMs overseas. |
| Fall Below Fee | None | S$5 fall-below monthly fee if the average daily balance falls below S$2,000 |
| Early Closure Fee | None | S$50 fee for early account closure within 6 months |
👉 Learn more: YouTrip Exchange Rates: Everything You Need to Know
HSBC EGA Review: Is It Worth It?
Pros
✅ Manage 11 currencies in one account
✅ Earn cashback via the Everyday+ Rewards Programme
✅ Fee-free HSBC ATM withdrawals overseas
✅ Good for frequent cross-border shoppers and online purchases
Cons
⚠ Must maintain S$2,000 average daily balance to avoid fees
⚠ Bonus rewards require meeting deposit + transaction criteria
⚠ Not the most competitive option for casual travellers who don’t maintain high balances
Verdict:
The HSBC Everyday Global Account is a strong choice if you need a multi-currency account tied to a traditional bank, enjoy ATM fee waivers, and can consistently meet the balance requirement.
However, if your main priority is cost-effective foreign spending while travelling, YouTrip can be a better alternative. It offers:
- No minimum balance requirement
- Competitive wholesale exchange rates for over 150+ currencies
- 12 wallet currencies
- Zero foreign transaction fees
👉 For frequent travellers who want maximum flexibility without worrying about bank account conditions, YouTrip is often the more straightforward and cheaper option.
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What is YouTrip?
YouTrip is Singapore’s first multi-currency wallet, which offers similar benefits to other multi-currency accounts offered by traditional banks, but with no minimum account balances or fees. It provides:
- Real-time wholesale exchange rates on 12 popular currencies (SGD, JPY, MYR, THB, HKD, AUD, NZD, SGD, EUR, GBP, CHF, SEK), and allows easy in-app currency exchanges.
- Usage in over 150+ countries for international purchases.
- Zero transaction fees and exchange rate markups.
- Up to S$400 in free overseas ATM withdrawals. *A 2% fee applies thereafter.
How to use YouTrip Overseas?
1️⃣ Top up your YouTrip wallet in SGD using PayNow, a linked bank account, or credit/debit card.
2️⃣ Lock in foreign exchange rates in the app before your trip for 12 popular currencies
3️⃣ Use the YouTrip Mastercard overseas for shopping, dining, and transport — it’ll automatically deduct from the right currency wallet or auto-convert SGD at wholesale rates.
4️⃣ Withdraw cash overseas (free up to S$400/month*).
5️⃣ Avoid DCC by always choosing to pay in the local currency.
Who is eligible for a YouTrip account?
YouTrip is available to:
- Singapore citizens, permanent residents, and foreigners.
- At least 15 years old who holds a valid NRIC, FIN, or long-term pass issued by the Singapore government.
- Has a Singapore-registered mobile number and a valid email address to sign up.
Sign up via SingPass MyInfo for faster approval. Sign up takes 3 minutes and your YouTrip card will be delivered to your registered address within 5-7 business days.
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FAQ: HSBC Everyday Global Account
Q: What is an EGA account?
A: A multi-currency account from HSBC that holds 11 currencies, offers fee-free overseas spending, and cashback via the Everyday+ Rewards Programme.
Q: Who is eligible for HSBC Everyday Global Account?
A: Singapore Citizens, PRs, and eligible foreigners aged 18+.
Q: Is there a monthly fee for HSBC Everyday Global Account?
A: No, as long as you maintain an average daily balance of S$2,000.
Q: What is the HSBC EGA fall below fee?
A: S$5 if your balance falls below S$2,000 in a given month.
Q: What is the HSBC Everyday Global Account interest rate?
A: Base rates are low, but bonus interest is available via promotions.
Get the best rates all day at zero fees with YouTrip!
With YouTrip, you can make in-app currency exchanges on 12 popular currencies anytime at the best, real-time Wholesale Exchange Rates. So whether you’re travelling or shopping on international online sites, you can pay with your YouTrip card in practically any currency, anywhere, and at the best rates.
Not a YouTrooper yet? Singapore’s go-to multi-currency wallet helps you save with great FX rates and zero fees. Skip the money changer and get a free YouTrip card + S$5 YouTrip credits with code <YTBLOG5>.
Then, head over to our YouTrip Perks page for exclusive offers and promotions — we promise you won’t regret it. Join our Telegram (@YouTripSG) and Community Group (@YouTripSquad) for travel tips, event invites, and more!
Happy travels!
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