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HSBC to launch 12 currency MasterCard debit card

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  1. #1

    HSBC to launch 12 currency MasterCard debit card

    For those over the Jade threshold, this might (or might not) be an answer to some of those outrageous FX charges that come with using credit cards while travelling:

    HSBC to Launch 12-currency Mastercard Debit CardAASTOCKS Financial News - Top News

    shri and omigosh like this.

  2. #2

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    Now, if they allowed you to trade stocks in the exchanges of those 12 countries..


  3. #3
    Quote Originally Posted by shri:
    Now, if they allowed you to trade stocks in the exchanges of those 12 countries..
    I'm sure the collective minds of GeoExpat are hard at work on this problem as we speak.

  4. #4

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    while the credit card FX rates are obscene (2%), I've actually always found - at least with the Amex CX card - the added asiamiles earned on overseas spending (1 asiamile per 4 hkd spent) to actually be sufficient to offset it and still come out ahead, so not too fussed. maybe I'm missing something?


  5. #5

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    Don't MasterCard and Visa charge you a 1% foreign transaction fee even if it's in the same currency? You'd have to preload the card with all the various currencies at no additional benefit imho. Seems like a hassle to me.


  6. #6

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    Quote Originally Posted by mrgoodkat:
    Don't MasterCard and Visa charge you a 1% foreign transaction fee even if it's in the same currency? You'd have to preload the card with all the various currencies at no additional benefit imho. Seems like a hassle to me.
    It is good in some cases when you get dividends in those currencies and want to spend that while travelling. I recently had a friend messaging me from the UK wondering why they could not see their GBP balance on their HSBC ATM card.

    Unfortunately as far as I know you can only trade HKD, USD and GBP stocks online and accumulate dividends in those currencies. All of these to be honest are bum-fuck band-aid solutions.

    Not sure if IB has a debit card.. if they do then their solution is "technically" more superior to HSBC.

    (Yes, am aware that some other exchange stocks can also be traded via phone)

  7. #7

    It sounds ok - but amazing you have to have 8M with them (jade) to get these benefits.

    I believe this could work for USD Amazon purchases for example.
    Probably - HSBC already has a USD credit card.
    It works - but there are also issues. Had a double FX conversion once - though original charge was USD and card is USD.

    I like cash - but it is getting less and less relevant in many countries.
    Withdrawing cash from a foreign HSBC ATM without a fee - that's what I expect from Premier.

  8. #8

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    Quote Originally Posted by Elefant&Castle:
    It sounds ok - but amazing you have to have 8M with them (jade) to get these benefits.



    Probably - HSBC already has a USD credit card.
    It works - but there are also issues. Had a double FX conversion once - though original charge was USD and card is USD.

    I like cash - but it is getting less and less relevant in many countries.
    Withdrawing cash from a foreign HSBC ATM without a fee - that's what I expect from Premier.
    Jade is the new Premier.

    8M is the new 1M.

  9. #9
    Original Post Deleted
    You mean the double FX charge? I sucked it up
    It was an online charge - forget what it was for. I think the merchant did USD->HKD conversion because they assumed the card was HKD (billing address was in Hong Kong).And then HSBC did HKD->USD on the card...

  10. #10
    Original Post Deleted
    Maybe - but I don't think DCC applies to contactless payments? Yes FX is the only reason to have this card - no other benefits.

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