HSBC Expat

: 2024 Review

Price: 
Free (must maintain a minimum monthly balance from £15,000 to avoid underfunding fee from £15 per month)
Countries:
Singapore
United States
Global

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HSBC Expat

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Review

HSBC Expat, short for The Hongkong and Shanghai Banking Corporation Limited, is a division of HSBC Bank (Singapore) Limited that offers financial products and services to expats across the globe.

The bank offers a variety of bank account types for expats, including:

  • Expat Bank Account. This account allows you to hold multiple currencies in one account, making it easy to manage your money when you are living or working in multiple countries. There is no cost for holding an account and transactions are fee-free. But you will need to meet one of these criteria:
    - Save or invest at least £50,000 (or currency equivalent) with HSBC Expat within 3 months of opening your account
    - Have a salary of at least £100,000 (or currency equivalent), or
    - Already be an HSBC Premier customer in another country or region
  • Multi-currency savings accounts Save in up to 19 currencies with their range of instant access and fixed-term (from 1 month) savings accounts for expats. Interest rate from 1% - 5.40%

Non-residents can open a personal or business account at HSBC Expat by visiting a local HSBC branch or submit it online and providing the following documents:

  • Passport
  • Visa or work permit
  • Your tax details including your taxpayer identification number (TIN)
  • Proof of address
  • Proof of income
Dexter Zhuang
Dexter Zhuang

Dexter is the founder of Money Abroad, a website and newsletter on building wealth for global professionals. Over the last 10 years, he's been a product leader, product manager, consultant and coach at companies like Dropbox, Xendit, and growth-stage startups across the US, Asia Pacific, and Latin America. His work has been featured in global publications like Business Insider, CBS, US News & World Report, and Tech in Asia. He graduated from Dartmouth College.

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