• long running

Earn 2% Instant Cashback on Everyday Global Debit Card (Tap and Pay under $100, Max $50/Month Cashback) @ HSBC Australia

2292
Earn 2% Instant Cashback on Everyday Global Debit Card (Tap and Pay under $100, Max $50/Month Cashback) @ HSBC Australia
Go to Deal
BargainsGrabber on 06/06/2023 - 09:51 hsbc.com.au (3858 clicks)
Last edited 06/03/2024 - 10:58 by 1 other user

An obligatory OzReminder on this great offer from HSBC

Credit to initial OP’s HSBC post

Steps:

  1. Deposit at least AUD2,000 into your HSBC Everyday Global Account every month (can be withdrawn at any time).
  2. Earn 2% cashback instantly on purchases "under $100 (=$99.99)" with tap and pay. Max $50 per month.

Tips:

  1. Get the App to check if cashback is activated under Everyday Extras section
  2. Tap & pay with Apple Pay/Google Pay

Fees and charges for the Everyday Global Account

Account Service Fee Fee
Monthly Service Fee $0
Transaction Fees Local - Per Transaction
Online Banking $0
Deposits $0
ATM Withdrawals $0
EFTPOS $0
Bank@Post™(Post Office) $0
Automated Phone Banking $0
BPAY® $0
International Transaction Fees Per Transaction
Overseas ATM Withdrawal Fee $0
Overseas Transaction Fee – Payable when you make a transaction on your account in a currency other than Australian dollars, or you make a transaction on your account in any currency (including AUD) that is processed/billed by either the merchant or its financial institution/payment processor outside of Australia 0% of the total value amount of each such transaction

Update (As of 11 April 2024)

What transactions don’t cashbacks apply to?

business
bus, rail & ferry fares
traveller’s cheques
refunds
vending machines
purchases made with cash withdrawals
commercial
foreign currency
money orders
reversals
car parking
online purchases
Bitcoin and other
government
debt payments
money transfers
gambling
cash withdrawals
transactions made by us
non-fiant currency

Terms

Financial Bank Account Cashback Debit Card Transaction Account

Related Stores

HSBC
HSBC

Comments

  • Jeeyang on 06/06/2023 - 10:00
    +13

    It's good. But it takes longer to transfer to and from other banks sometimes.

    • wutang01 on 06/06/2023 - 10:04
      +42

      There was an app update 1 week ago that now supports 'fast payments'.
      It worked for me fairly instantaneous from HSBC to ubank (ubank to HSBC was always fast for me).

      • Jeeyang on 06/06/2023 - 10:05
        +2

        Thanks for the information. It's a good news.

        • capslock janitor on 06/06/2023 - 13:16
          +1

          my payment out xfer still slow … "Estimated arrival: Within 2 business days from payment date"

          my bro signed up last week and on payment review page shows "fast payment" and was immediate. mine doesnt

      • TThomas on 06/06/2023 - 10:06
        +3

        Thanks for the update, just transferred from HSBC to ANZ and worked, Fn… finally part of NPP!

        Can't believe it took them so long to implement it

      • jikijiki on 06/06/2023 - 10:33

        Do you know if this is PayID? I.e. you type in a mobile number and can transfer instantly?

        • souths123 on 06/06/2023 - 10:38

          no, just from or to anyone, no payid required for it to be instant, but obv the receiving account has to have instant as well

        • wutang01 on 06/06/2023 - 11:23
          +1

          I don't believe it's true PayID or Osko.
          It'll send it "fast" based on the BSB and account number you enter.
          I haven't quite figured out the specifics of how HSBC implemented it.

          • scaryspace on 06/06/2023 - 12:46

            @wutang01: I just signed up, and when transferring from Up to HSBC, Up says it can't go through Osko, so it will revert to a normal bank transfer. Very annoying.

          • bamzero on 06/06/2023 - 14:56
            +6

            @wutang01: There's layers to fast payments. NPP is the underlying platform.

            PayID is just the addressing service.

            Fast payments are either Osko (owned by BPay) which is a layer that uses the NPP and there's SCT.

            Some banks support both and will fall back to whichever the receiving bank supports, some only Osko and some only SCT.

            Seems HBSC may only support SCT, so sending to an Osko only bank like Up can't be done realtime.

      • gamerkonks on 06/06/2023 - 11:19
        +4

        Fast payments are only supported through the app though, not via the website.

      • kllee au on 06/06/2023 - 11:26

        Do you know what is the daily limit for fast payments? Thanks.

      • I like freestuff on 06/06/2023 - 16:37

        Only took 2 years of "coming soon". At least they had been accepting fast payments for years now.

      • Iwantthatbargain on 05/12/2023 - 19:20

        And also to CBA is instant

    • zelliot on 06/06/2023 - 10:05
      +2

      Instant payment in and out are now enabled.

    • rasta rabbi on 06/06/2023 - 10:24
      +3

      Instant payment works for me transferring between my HSBC and ING account now.

    • _tony on 06/06/2023 - 11:29

      I find Osko payments from Bankwest to HSBC instant, but not the other way around (next day)

      • webkit on 06/06/2023 - 12:02

        Mine is the opposite, out is instant but in (from Westpac) still takes 1 business day.

    • DardyMate on 06/06/2023 - 11:45

      My first transfer took 24-48 hours. Everything after that is instant.

    • bamzero on 06/06/2023 - 14:40

      Money in was always instant for me, money out would take a day or two but as already mentioned they now support fast pay. Just did a transfer in and out today instant both ways.

  • bertzza on 06/06/2023 - 10:03
    +9

    Been using this for over a year now. Very good offer.
    Also I used the card recently in Bali and can confirm zero atm withdraw fees and a very good currency exchange rate.

    • Rakibul on 06/06/2023 - 10:07
      +5

      Their international rates are around 3% more expensive compared to Ubank and Bankwest

      • littlesoldier on 06/06/2023 - 10:22

        I normally use Citi Plus for international ATM cash out which gives slightly better rate than HSBC
        haven't used UBank or Bankwest so not sure which is the best rate though

        • Shadowsfury on 06/06/2023 - 10:40
          +5

          Ubank, Bankwest, Citi cards will use the respective card's forex rates (Visa or Mastercard)

          HSBC uses their own rates which I have found to be slightly worse than Visa/MC, although still better than paying 3% fee with many of the other cards on the market.

      • souths123 on 06/06/2023 - 10:43

        I didn't find that, and I used it in Bali as well. I thought the rate was pretty spot on

  • zelliot on 06/06/2023 - 10:05

    Zero ATM overseas but the 2% cashback doesn't work. Only in Australia.

    • burningrage on 06/06/2023 - 10:23
      +1

      Mixed results. Recent reports from Ozb travellers report that for example in Japan, ATM withdrawal still charges fees Y200.

      The only one I can confirm is that in Indonesia and Singapore, HSBC ATMs are free to use (no fee at all).

      • wangasm on 06/06/2023 - 10:32
        +3

        Those are ATM operator fees which charge all cards. The 7/11 ATMs in Japan only charge fees for Visa cards (this) and not MC I believe.

        • varunbabu008 on 06/06/2023 - 10:38
          +1

          I used Macquarie and Citi bank debit cards all over Japan in 7/11 ATM's. There were no charges

          • nadan on 06/06/2023 - 11:12

            @varunbabu008: A few years ago when I was in Japan I used the Citibank card at ATMs in 7/11 and no fees were charged. If any fees charged are the ATM provider fees and not Citibank and it is the same everywhere. I have used Citibank card exclusively for my travels and ATM charges only apply if the ATM provider is charging a fee.

        • nightelves on 06/06/2023 - 13:41

          Wrong 7/11 with Citibank charges no fees at all.

          • wangasm on 06/06/2023 - 13:55
            +1

            @nightelves: That's because Citibank debit is a Mastercard (MC) as per my comment

    • zorodluffy on 06/12/2023 - 14:11

      is there atm fees for australia?

  • OVOXO on 06/06/2023 - 10:06

    Thoughts on this vs the ING debit card? Heading to Europe until September and not 100% sure on the best way to go

    • Jeeyang on 06/06/2023 - 10:10
      +2

      I'd get both ready.

    • Mr Turtle125 on 06/06/2023 - 10:16
      +1

      I currently use this and so my opinion is probably biased. But if I'm correct, ING has a charge for internation transactions.

      HSBC doesn't. Since you're headed to Europe, you can store Euros in HSBC to even avoid the conversion fee later and it will pay using that, only through the Everyday Global Account. I used it when I was in South East Asia and no additional charges present on my account, you get charged straightaway and it shows current AUD amount, if paying via AUD and currency amount of foreign currency.

      As mentioned by zelliot before, cashback offer works only in AU and works only on tap and pay, not online shopping etc.

      • RickyBaker on 06/06/2023 - 19:06

        All international transactions/withdraws have a fee, but then you get it rebated instantly so in practice is fee free. Been with ING for 7+ years and it's always been like that

        • indomatic on 06/06/2023 - 19:29

          They recently limited international withdrawals to 5 and combined it with domestic

          • RickyBaker on 06/06/2023 - 19:33

            @indomatic: Sorry what do you mean by combined it with domestic? I was thinking of switching to UBank as my main bank anyways. Already have my savings account and home loan with UBank so makes sense

            • zorodluffy on 06/12/2023 - 14:12
              +1

              @RickyBaker: i have ING, so you can only get the rebated atm fees, 5 times a month, atm fees in aus and overseas both count towards the same 5.

    • trawg on 06/06/2023 - 10:39

      Get the Wise debit card, I think it's still free to get and I suspect you'll get better rates with a tiny little bit more effort.

      • OVOXO on 06/06/2023 - 10:43
        +1

        I'd be interested to see what the exchange rate on the Wise card is. HSBC seems to be pretty competitive: https://www.hsbc.com.au/calculators/real-time-exchange-rates…

        • sun sunny on 06/06/2023 - 12:09
          +11

          Just tried to get EUR 1000 from both HSBC and Wise.
          HSBC shows I need to pay AUD 1,652.89 https://www.hsbc.com.au/calculators/real-time-exchange-rates…
          Wise shows I need to pay $1627.53 https://wise.com/au/pricing/card-fees?targetAmount=1000&sour…

          So looks like wise is better

          • OVOXO on 06/06/2023 - 12:22

            @sun sunny: Good spot, it seems for larger amounts it's the way to go

            • sun sunny on 06/06/2023 - 12:25

              @OVOXO: I would be there as well this year so planning in advance ;)

          • wswgin on 06/06/2023 - 12:33

            @sun sunny: HSBC charges $38 for convertion, Wise charges $4.58

            If I spend overseas or cash from ATO, do I still need to pay these fees? Isn't it suppose to be 0% Overseas Transaction Fee?

            I'm also trying to figure out which is the better option, Wise or debit card

            Thanks.

            • sun sunny on 06/06/2023 - 12:41

              @wswgin: I believe wise will charge the conversion fee once when you convert from aud to eur. And then they give 2 transactions upto aud350 per month for free. if you scroll down on my wise link above you will see the table for ATM withdrawal.

              as per their site: Make 2 withdrawals of up to 350 AUD each month for free per account. After that, we’ll charge 1.5 AUD per withdrawal. There’s a 1.75% fee on any amount you withdraw above 350 AUD.

              • wswgin on 06/06/2023 - 13:12

                @sun sunny: Yes, for wise I think it doesn't matter when you convert, you can lock in the rate and convert before spending, or just spend and auto convert at the time of purchase, the conversion fees will be the same.

                For debit cards like HSBC, ING or Maquaire, do they charge anything when spending overseas?

                • sun sunny on 06/06/2023 - 13:23

                  @wswgin: as per the HSBC site they charge $0 overseas ATM fee and $0 international transaction fees whether you are travelling or spending online.

                  Also this: Non-HSBC branded ATMs and HSBC Group ATMs in Argentina, France, Greece, Malta, Mexico and Turkey may charge an ATM operator fee for withdrawals or balance enquiries at their ATMs.

                  • wswgin on 06/06/2023 - 13:35

                    @sun sunny: Thanks, looks like it comes down to this, hard to say which is better

                    Transaction or Convertion fees
                    Debit cards: No
                    Wise: Yes

                    Exchange rate
                    Debit cards: Mostly Mastercard of Visa rates, some cards use their own rate such as HSBC
                    Wise: Slightly better rate compared to the debit cards

                    ATM with draws
                    Debit cards: Some cards have no ATM fees, if you find the right ATM
                    Wise: free for 2 withdraws up to 350, additional charge applies

                    • sun sunny on 06/06/2023 - 13:42

                      @wswgin: You mentioned that there's no conversion fee for the debit card. Is that for HSBC? Cos if I go to this page https://www.hsbc.com.au/calculators/real-time-exchange-rates… and use my example of getting eur1000 and use the calculator to convert currencies between HSBC accounts. They don't show a conversion fee but the exchange rate is worse as compared to wise. I pay less in AUD overall with wise. So wise would be a better deal for conversion I believe.

                      • wswgin on 06/06/2023 - 14:00

                        @sun sunny: This is the part I'm a little confused.

                        The one you quoted is for convert currencies between HSBC accounts, there is no fee, the rate is worse than wise.

                        Another option is sending foreign currency to overseas banks, HSBC has quite a high fee.

                        If I take the card and pay overseas, which category does it fall into?

                        The card says HSBC Overseas Transaction Fee is 0%. So I assume that If I swip the card overseas, there is no fee, it just uses the exchange rate and convert.

                        • sun sunny on 06/06/2023 - 14:17

                          @wswgin: If you use your card overseas I guess HSBC will use their real time exchange rate and convert your AUD to that currency in real time. They are not charging you a conversion fee but earning by giving a lower exchange rate lol

                          Better to confirm with their customer care.

                          • EBC on 06/06/2023 - 14:54

                            @sun sunny: In my experience asking a bank to tell you what their conversion rate is is like talking to a brick wall. Last time I spoke to Citibank about it, it was just "we do not charge a transaction fee" despite obviously profiting on the exchange rate. Getting them to acknowledge that was impossible. I am sure they were jus using their script though.

                            For what it is worth, I used Wise for my recent trip to Japan and it was flawless. Although I wasn't sure how withdrawing yen with it would work (given the above mentioned 2 withdrawals of up to $350 rule) it seems that is only for ATM withdrawals that result in an automatic currency conversion. Withdrawing yen you already have in your account seems to be free and unlimited.

                            • sun sunny on 06/06/2023 - 14:58
                              +3

                              @EBC: Just had a chat to them about it:

                              Hi Isaac, if I want to spend money overseas using my HSBC debit card do I need to have that foreign currency in my account? Or AUD will be okay?
                              You at 14:35, Jun 6:

                              For the Everyday Global account, for any transactions apart from the 10 listed currencies, it will be charged on the main AUD account automatically.
                              But lets say you are in UK, and you have GBP currencies, any transactions in GBP will be charged on the GBP account, provided you have enough available balance.
                              Isaac at 14:38, Jun 6:

                              If I am in UK and I don't have GBP will it charge the AUD account?
                              And will that conversion take place using the real time exchange rate here: https://www.hsbc.com.au/calculators/real-time-exchange-rates…
                              You at 14:39, Jun 6:

                              That is correct, if you havent opened the GBP account, it will also be charged on the AUD account.
                              For conversions on the card, it will use the Visa's daily rate.
                              The real time rate is only for exchanges done online in between your own account.
                              Isaac at 14:41, Jun 6:

                              So when I get charged using the Visa rate, is there any conversion charge or any other charges?
                              You at 14:42, Jun 6:

                              Nothing from HSBC AU, but charges might be from the operator fee or visa themselves.
                              Isaac at 14:46, Jun 6:

                              Ok thanks
                              You at 14:47, Jun 6:

                              And do ATM withdrawals work the same way?
                              You at 14:50, Jun 6:

                              That is correct, the same exact way :)
                              Isaac at 14:51, Jun 6:

                              • EBC on 06/06/2023 - 15:03

                                @sun sunny: Ha, well that is a much more helpful conversation than the one I had with Citibank. Thanks for that.

                        • sun sunny on 06/06/2023 - 15:09

                          @wswgin: you can read the chat I pasted above, it should help

                          • wswgin on 06/06/2023 - 15:27

                            @sun sunny: Thanks!!

                            Thanks, so it really just comes down to the Wise conversion fee compared to the slighlty higher exchange rate from the debit cards.

                            I just calculated to exchange for 100K JPY,

                            Wise conversion fee is $5.70, but with better exchange rate the total cost of AUD is $1080.28.

                            With Mastercard there's no conversion fee but with worse exchange rate, the cost of AUD is $1085.15.

                            So Wise is better.

                            • pennypacker42069 on 07/06/2023 - 06:36

                              @wswgin: The exchange rate spread for Visa and Mastercard varies each day, there isn't any consistency as to which offers the best rate each day.

                              Generally Mastercard has 0.5% extra added and Visa has 1%, but this can be higher or lower. Visa gives you the rate on the day of the transaction whereas Mastercard gives the rate on the day of settlement.

                              Given the ATM fees I don't bother with Wise for traveling, but you could potentially take all three cards and study the rates online in real time to try and get the best deal

      • wswgin on 06/06/2023 - 12:26

        Wise charges a forgien convertion fee, last time I exchanged 2000 AUD to JPY, the convertion fee was almost $10, does HSBC or ING charge any conversion fees?

        If these debit card charge no transaction/convertion fee at all, then Wise card's only benefit is locking in the better FX rate by exchanging anytime you want?

        • trawg on 07/06/2023 - 08:23

          If they don't charge a fee, then the pricing will be buried in the exchange rate. The only way to really compare them is to look at the total before and after value.

          See the post from sun sunny above where they do the comparison & Wise comes out (slightly) ahead.

      • nightelves on 06/06/2023 - 13:43

        Thought the Wise debit card was $10

        • trawg on 07/06/2023 - 08:21

          Ah it might be now - I got it when it first was released & it was free.

      • DracoManX69 on 05/12/2023 - 15:51

        Ubank is better pretty sure, uses Visa exchange rate with actually 0 fees as far as I know, otherwise plenty of travel CC with 0 foreign fees.

    • souths123 on 06/06/2023 - 10:41
      +1

      I found the exchange rate on ING to be dubious (even though they say they don't have a conversion fee, I think they might build it into their rate conversion). I found both HSBC and Citi card to be the best…used them both in Bali last month and exchange rate was great. Didn't try atm withdrawals though, so can't comment on that. ING is stopping the free atm withdrawals (refunded fees) for international end of next month, I think?

      • OVOXO on 06/06/2023 - 10:50

        I tried to find the ING conversion rate numbers but couldn't. Since our trip carries over into the month of August and the free withdrawals will be cancelled by then I'll have to get another card. Thinking either this HSBC one or the Wise card.

        • souths123 on 06/06/2023 - 10:55

          look at the Citibank Plus debit card. That is better than HSBC if using to pay for goods and services o/s. Not sure about using atms. I only did that in China and their banks don't charge to make atm withdrawals anyway.

        • pennypacker42069 on 07/06/2023 - 06:41

          ING uses the Visa rate. Mastercard and Wise are generally a little better (by about 0.5%) but Wise has high ATM fees.

          • Save Medicare on 06/12/2023 - 08:26

            @pennypacker42069: Wow!! I didn't know mastercard had better fx rates than visa. I will exclusively use my Macquarie rather than my ubank debit card for online purchases from now. Thanks!

      • seanmilt on 06/06/2023 - 10:50
        +1

        ING stopping rebate on international atm withdrawal fees from 1 August.. https://www.ing.com.au/rates-and-fees/orange-everyday-fees.h…

        • JohnHowardsEyebrows on 06/06/2023 - 14:33

          Yep, and they sneakily started charging their own fee for ATM withdrawals after the 5th monthly just recently, too, so they're now a vastly inferior product.

    • Bdawg on 07/06/2023 - 15:14

      28degrees mastercard

  • Uncle Roger on 06/06/2023 - 10:06
    +4

    So many reminder posts atm haiyaaa

    • souths123 on 06/06/2023 - 10:42
      +1

      they are timely, as there are many that don't know about these sorts of ongoing deals.

  • Trying2SaveABuck on 06/06/2023 - 10:08
    +3

    Im with HSBC they are generally decent but their app is average af

    • Bdawg on 07/06/2023 - 15:14

      Understatement of the year.

    • gwong on 10/06/2023 - 22:18

      Yeah I just set up a weekly deposit and then don’t touch the app just check out once in a while to make sure the balance doesn’t get too high. Way better apps to use for your main transaction/savings account. This one just for paywave.

  • Rakibul on 06/06/2023 - 10:08

    Been using it. Instant savings

  • zeppy on 06/06/2023 - 10:10

    This would be a good fallback option for when you run out of limit with the Cryptospend debit card.

    • capslock janitor on 06/06/2023 - 13:19
      -2

      but ewww xrp ..

      • zeppy on 07/06/2023 - 12:53

        Can you elaborate more? You can always convert XRP to AUD right away and retain the value of your cashback if you don't like to hold XRP. Also XRP needs to lose its value by more than 30% (from the time you receive the cashback) for the Cryptospend deal to be worse than this HSBC deal.

        • capslock janitor on 07/06/2023 - 13:09

          always convert XRP to AUD right away and retain the value of your cashback if you don't like to hold XRP.

          is it all taxable events?

          • Bdawg on 07/06/2023 - 15:17

            @capslock janitor: I imagine it would have a cost basis of what you got it at so if you instantly sell… you could even get a tax write off due to fees haha. Tax ain't my speciality though,

  • ewieb on 06/06/2023 - 10:13

    great card! do you know if I can get one for myself and 1 for my partner and I??

    • Techefy on 06/06/2023 - 10:23
      +1

      Yes, possible with a joint acct

  • Associated on 06/06/2023 - 10:20
    +2

    Been using it for past 1.5 year, saved around $300

    • capslock janitor on 06/06/2023 - 13:20

      same i checked the pie chart

      • chintu123 on 06/12/2023 - 00:18

        Which pie chart?

    • gwong on 10/06/2023 - 22:19

      $550 in 18 months for me

  • IpGem on 06/06/2023 - 10:21
    -1

    A month back, I posted a detailed review on the play store about how HSBC is falling behind by not offering npp transfers. I guess they are offering it now. I'd still say they are over 10 years late in the game.

    Although couldn't see you can pay to a payid yet.

    • burningrage on 06/06/2023 - 10:25
      +2

      Yes. They were late. They still don't have PayID yet. They are not using Osko but SCT. Still within NPP but considered inferior version of Osko (according to Westpac).

      But yes, instant payments and receipts are proven to be working even on weekends.

  • idonotknowwhy on 06/06/2023 - 10:25
    +8

    Been using this for a few years now and it's great. It eats the surcharges at cafes/restaurants and gives nice cashback at aldi, etc.
    Better than most of the reward points credit cards unless you actually want to use points for flights.

    • radissimo on 06/06/2023 - 13:41

      however if you have offset account with your home loan, with a Credit card you get a month or so for money to sit in your offset account saving 6% or so on your interest

      • matt_will_fix_it on 07/06/2023 - 04:50
        +3

        The monthly interest would be 6% (annual) / 12 = 0.5%. You are approx 1.5% better off using this than the credit card method above (assuming the credit card doesn't have any rewards programme)

    • Bdawg on 07/06/2023 - 15:18
      +3

      The way to go is credit card for online and >$99.99 payments, HSBC for paywave <$100. Or just use one of your 100 $250 discounted coles mastercards!

  • wswgin on 06/06/2023 - 10:29
    +1

    does the 2% cashback work on overseas purchases?

    • koakun on 06/06/2023 - 10:32
      +1

      No. Domestic purchase only.

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