Benefits of Multicurrency Account | Multicurrency Account in Singapore
Investment | Savings Accountsby Priyadarshini 14 February 2023
Do you want to know why you should get a multi-currency account? Are you a frequent traveler? Or you have to deal with foreign currencies quite often? Read this blog to know the benefits of multicurrency account.
Why a Multicurrency Account?
You think you already have a regular savings account. Then what’s the point in getting another bank account? Or a multicurrency account?
Well, we tell you the many benefits and perks of it. For instance, no extra foreign currency fees when you purchase things overseas, especially when you’re traveling or are on a vacation to some exotic country.
Multicurrency accounts are most beneficial for those who frequent travelers. It could be for business or leisure, e-commerce retailers, regular online shoppers from international websites, parents who bear the cost of their children studying abroad, and also if you own a property abroad and rent it out, etc. So, basically, it is good for anyone who regularly transacts in foreign currencies.
Five Benefits of Multicurrency Account:
Get Real-Time Exchange Rates
Foreign currency exchange rates are superfluid and often fluctuate daily. However, with a multicurrency account, you can keep track through your bank. Ensuring you get the best exchange rates.
Instant Global Transfers
Yes, this is possible with the HSBC multicurrency account. You can make instant global transfers to other HSBC accounts for large amounts of money in no time. So, if you are working abroad and want to send money home then you don’t have to worry anymore.
Foreign Transactions through your Bank’s app
With the HSBC Singapore QuickFX App, you can set up alerts so you don’t have to be constantly checking your phone. Also, you can set an FX limit order at the rate you want. This will help you get the rate you want and have your money converted automatically.
No Foreign Currency Fees
With a multicurrency account, you can shop overseas to your heart’s content without any extra foreign currency fees. This is one of the best ways to make the most out of all special retail sales like Black Friday, Easter, summer, Independence Day, etc.
No Extra Charge on Overseas Cash Withdrawal
There are absolutely no extra charges on any cash withdrawals from any HSBC ATMs globally. Just use your HSBC Everyday Global Debit Card. This makes traveling easy and hassle-free. Gives you more convenience in making expenses and traveling internationally.