HSBC Foreign Currency Account: Everyday Global Account and CombiNations Account guide

HSBC¹ is a huge global bank which has accounts, products and services for Malaysians who want to manage their money across currencies. You might choose an HSBC foreign currency account for saving and overseas bills, or an HSBC multi currency account for travel spending, depending on your lifestyle and needs.

This guide walks through the different HSBC Malaysia foreign currency account options so you can weigh up if any suit your unique requirements. We'll also introduce the Wise account, a handy companion to make your money go further with low, transparent fees.

What HSBC foreign currency accounts are there?

There are several different HSBC account options for people who need access to foreign currency solutions.

The Everyday Global account can be a good pick for travel use and regular payments, while the HSBC CombiNations account and the HSBC foreign currency fixed deposit accounts can be a good selection for savers.

Everyday Global Account

The HSBC Everyday Global Account² supports the following currencies, all in the same account:

• Australian dollar (AUD)
• Canadian dollar (CAD)
• Euro (EUR)
• Great British pound (GBP)
• Hong Kong dollar (HKD)
• Japanese yen (JPY)
• Malaysian ringgit (RM)
• New Zealand dollar (NZD)
• Saudi riyal (SAR)
• Singapore dollar (SGD)
• United States dollar (USD)

You can switch between currencies in the account with just your phone, and you’ll also be able to get a linked debit card for spending and cash withdrawals.

The Everyday Global Account lets you receive payments in foreign currencies without having to convert back to MYR every time, and also has features to allow you to pay bills and send money locally and internationally. This makes it a popular choice for customers who love to travel and who have frequent payments to make in foreign currencies. The account is available as a basic account product or for Advance and Premier customers with extra features and minimum deposit requirements.

Foreign Currency Account (CombiNations Account)

The HSBC Foreign Currency Account (CombiNations Account)³ is an interest bearing account which can be opened in USD, GBP, AUD, SGD, EUR, JPY, BND, CAD, CHF, NZD, HKD and CNY.

This account is marketed towards people saving for future foreign currency spending, such as paying for school or university fees abroad, or for non-residents in Malaysia who need to receive funds from abroad in foreign currencies.

There are relatively low minimum opening balance requirements which vary depending on the currency you select, but there are monthly fees if you don’t hit a minimum balance requirement of 20,000 MYR on aggregate over the course of the month.

HSBC Foreign Currency Time Deposit Account

The final option is to open an HSBC Foreign Currency Time Deposit Account⁴. While the CombiNations account we looked at above can be used to make payments whenever you like, a time deposit requires you to agree to leave your funds for a fixed period to earn interest.

When you sign up for your account you can choose from 12 major currencies, and a fixed term of 1 to 12 months depending on your situation.

Usually the longer you leave your money, the higher the rate of return - but as interest rates do vary from time to time and between currencies, you’ll need to make sure you’ve got the latest rate information before you sign up.

HSBC foreign currency account exchange rate

If you need to convert currencies to make a deposit or payment, or within your multi-currency account, the HSBC foreign currency rate⁵ will apply.

You can get the HSBC foreign exchange rate for your currency online or in the HSBC app. Rates may include a markup, which is a fee added onto the mid-market rate that you would find on Google or with a currency conversion tool. This is very common but it can mean you pay more for currency conversion than you expect, as the fee is pretty hard to spot. Compare the rate you're offered by HSBC for your specific currency against the mid-market rate you can find on Google, to see if a fee has been used here.

Fees and charges

If you have a foreign currency account with HSBC you may need to pay fees depending on how you transact. The fees for the Everyday Global Account are as follows:

*Correct at time of research - 1st September 2025

If you have a CombiNations account you will pay a monthly fee of 10 MYR if you do not hold 20,000 MYR in your account. There’s also a per transaction charge which depends on the currency you use, if you’re sending a payment with no currency conversion. This would apply if you hold a balance in AUD and send money to a bank in Australia for example.

If you’re sending a cross currency transaction using a telegraphic transfer, fees will apply here as well. Digital transfers usually cost at least 25 MYR, with transfers arranged in a branch having even higher fees.

How to open a HSBC foreign currency account

To open a HSBC foreign currency account you need to register your interest and have someone from the bank call you back to discuss your requirements. You may also be able to make an appointment to visit a branch to get your account sorted out that way.

Once you have either an HSBC Everyday Global Account or a HSBC Foreign Currency Account, you can apply for an HSBC Foreign Currency Time Deposit Account through HSBC Online Banking, without needing to visit a branch in person.

HSBC foreign currency account application and eligibility

Before you apply for your new HSBC foreign currency account you’ll need to check through the application information and eligibility.

The Everyday Global account for example has different tiers depending on your status with the bank. If you’re interested in one of these, you’ll need to make sure you meet the minimum deposit amounts before you start your application. Here’s a summary.

Everyday Global Account application

To make an application for an Everyday Global Account you’re asked to register your interest online and have someone call you back. You can also make an appointment to visit a branch in person to open your account if you would prefer.

For the standard Everyday Global Account there’s no minimum balance. Or to unlock extra features you can apply for a higher tier account which requires you to meet a minimum relationship balance - that is the amount you hold with HSBC in all eligible accounts and products.

Here are the additional Everyday Global Account options and their eligibility rules:

• HSBC Advance Everyday Global Account - balance of 30,000 MYR or you must take an HSBC home loan of at least 300,000 MYR
• HSBC Premier Everyday Global Account - balance of 300,000 MYR

Foreign Currency Account (CombiNations Account) application

To apply for a Foreign Currency Account (CombiNations Account) you must visit a branch in person.

HSBC Foreign Currency Time Deposit Account application

If you already have another foreign currency account product with HSBC you can apply for your HSBC Foreign Currency Time Deposit Account in the HSBC app or online banking system. If you don’t already use HSBC you must visit a branch to discuss your needs and get your account set up.

Manage foreign currencies with low fees and the mid-market rate with the Wise account

Make seamless foreign currency payments and transactions with low fees and the mid-market rate with Wise.

The Wise account is an easy way to hold and exchange 40+ currencies, including MYR, USD, GBP, and more. All you need to do is create a free account to get started.

With Wise, you can exchange currencies at the mid-market rate each time, with low, transparent conversion fees from 0.77% and absolutely no markups. Plus, you can order a linked Wise card for convenient spending without any foreign transaction fees, and up to 2 free ATM withdrawals to the value of 1,000 MYR when you're overseas. You'll even get 8+ local account details to get paid conveniently to your Wise account in MYR and a selection of other major global currencies.

Sending money or making payments abroad? Wise also offers fast, low cost transfers to 140+ countries - you can track your transfer in your account and your recipient will also be notified when a transfer reaches them.

Get the most out of every ringgit and save more when you use Wise.

🚀 Get Started with Wise

1. HSBC Malaysia
2. HSBC Everyday Global
3. HSBC CombiNations Account
4. HSBC Foreign Currency Time Deposit Account
5. HSBC forex
6. HSBC fees