HSBC Everyday Global Account (EGA) Review: Spend & Save in 11 Currencies

Wouldn’t it be nice if our bank accounts work as hard as we do to stretch our dollar? Or straight up give us cashback when we bank, pay bills and save—on top of providing benefits like S$0 ATM withdrawals worldwide in multiple currencies and access to favourable FX rates at our own convenience? 

If you answered yes to all of the above, the HSBC Everyday Global Account (EGA) might just be the perfect bank account for you.

In this article, we do a deep dive into the many features of the HSBC EGA, and tell you why it’s a great fit for young professionals who travel frequently for work.

Let’s dive right in.>>  LEARN: High-Yield Savings Accounts: What Are They?

DETAILS

Overview:

A multi-currency account that rewards you when you spend and save, the HSBC Everyday Global Account also lets you shop and withdraw cash in 10 currencies with zero fees attached. It might just be the perfect bank account for globetrotters!

Qualifications:

• Singapore Citizens, PRs and foreigners welcome to apply

• Applications can be done via SingPass MyInfo or HSBC EasyID

Available currencies:

• AUD, CAD, EUR, JPY, NZD, GBP, CHF, USD, HKD and RMB.

Fees and charges:

• Minimum account balance fee: S$5 (Applies when average daily balance falls below S$2,000.)

• Account closure fee: S$50

DISCLAIMER

Disclaimer:

Rates and terms are subject to individual credit assessment and bank approval.

DETAILS

Overview:

Another high-interest multi-currency savings account, the Bonus$aver Account rewards power users who spend, invest, insure and credit their salary with the bank with interest rates of up to 6.05% p.a. 

Qualifications:

• Clients applying for a Bonus$aver account and Bonus$aver Debit Card must be at least 18 years of age

• Clients applying for a Bonus$aver account and Bonus$aver Credit Card must be between 21 and 65 years old

Available currencies:

• USD, GBP, EUR, HKD, AUD, NZD, CHF, JPY, CAD, NOK, SEK, DKK and ZAR.

Fees and charges:

• Fall-below fee: $5 (Applies when your average daily balance falls below S$3,000)

• Early account closure fee: S$30 (Within 6 months of account opening)

• Debit card annual fee: Waived

• Credit card annual fee: S$216 (Free for the first 2 years)

DISCLAIMER

Disclaimer:

Rates and terms are subject to individual credit assessment and bank approval.

Read our full review

DETAILS

Overview:

Working professionals who consistently spend at least S$500 monthly can leverage their UOB One Account for earning interest, 3% cashback on daily essentials and paying bills through GIRO. 

Qualifications:

• Singapore Citizen, PR or foreigners 18 years of age or above

Available currencies:

• The UOB One Account is not a multi-currency account. However, you can link it with UOB FX+ to access 11 supported currencies. They are: SGD, USD, AUD, CAD, CHF, CNH, EUR, GBP, HKD, JPY and NZD.

Fees and charges:

• Fall-below fee: S$5 (Applies if your monthly average balance dips below S$1,000)

• Early account closure fee: S$30 (Within 6 months from account opening)

DISCLAIMER

Disclaimer:

Rates and terms are subject to individual credit assessment and bank approval.

Read our full review

DETAILS

Overview:

A premium high-yield savings account, the Citi Wealth First Account is for Citigold and Citigold Private Clients only. This means the barrier to entry here sits at a cool S$250,000 at the bare minimum.

Qualifications:

• Singapore Citizens, PRs and foreigners 18 years of age and above.

Available currencies:

• A complimentary Citibank Debit Mastercard® gives you access to 15 currencies: SGD, AUD, CAD, CHF, EUR, GBP, HKD, NZD, USD, AED, ZAR, SEK, NOK and DKK.

Fees and charges:

• Account service fee: S$15 (Waived if TRB is S$15,000 and above)

• Account closure fee: S$50 (Within 6 months of account opening)

DISCLAIMER

Disclaimer:

Rates and terms are subject to individual credit assessment and bank approval.

Read our full review

Up and coming young professionals who clock a decent number of air miles will love the convenience of the HSBC Everyday Global Account. HSBC EGA members enjoy seamless international money transfers and the ability to make FX transactions with real-time exchange rates. Fans of retail therapy will love the hassle-free, zero-fee benefit of being able to shop and withdraw cash in 10 currencies. 

You may have noticed that the HSBC EGA has a base interest rate of just 0.05% p.a. However, effective from 31 March 2025, you’ll be able to push this figure up to 3.7% p.a. by qualifying for the Everyday Rewards+ Programme. Here’s how it works:

Now, you may find yourself wondering: what exactly are Eligible Transactions?

They are:

• SGD transactions made with a personal HSBC Credit Card.

• Transactions made with a HSBC Everyday Global Debit Card.

• Bill payments in SGD made via GIRO (Excludes self-initiated GIRO payments from HSBC online banking or the HSBC SG app).

• Fund transfers to a non-HSBC account made from an Eligible Account.

Aside from interest rates significantly higher than that of a typical savings account, you’ll also get the following rewards:

• 1% cashback on HSBC Everyday Global Debit Card transactions. (Excluding NETS transactions, ATM withdrawals and any transaction involving digital wallet top-ups and pre-paid cards.)

• 1% cashback on GIRO bill payments. (Excludes self-initiated GIRO payments from HSBC online banking or the HSBC SG app, payments made to financial institutions and trading of securities.)

Do note that a cashback cap of S$300 per month applies for HSBC Personal Banking customers, while HSBC Premier customers get a slightly higher cashback cap of S$500.

Promo periods are great for scoring rewards. The challenge is getting to know or hear about them in the first place. For a limited time only, HSBC is offering cash rewards to Personal Banking and Premier customers who sign up for a new HSBC EGA account. 

Contemplating on whether to open a HSBC EGA account and shopping around for fixed deposit options? Check out HSBC’s promotional fixed deposit rates of up to 2% p.a. for new HSBC EGA sign-ups. 

HSBC's Everyday Global Account is neither the flashiest nor the fanciest of multi-currency accounts. Some might even find its reward structure to be a little too convoluted for their taste.

However, if your spending habits and budget happen to match up to the Everyday Global Account's requirements, you'll be able to benefit from all that the account has to offer no matter where you are in the world.

The main draw here is the extra interest and cashback that accumulates as you spend, save and bank.

Furthermore, the HSBC EGA's convenient Global Money Transfer features and robust multi-currency capabilities make the HSBC EGA a powerful companion for jet-setting young professionals.

>>  FIND OUT: Should you go with a fixed deposit or high-yield savings account?