Am I reading this as a FIVE DAY lag?Original Post Deleted
For anyone with HSBC who also has an account in Australia, they offer the Everyday Global Account: https://www.hsbc.com.au/accounts/pro...eryday-global/ which is a handy way to get access to currencies you might hold.
I've used Global Transfer to move money over from whichever currency's savings account here into the account in Australia, with no conversion, and then I can withdraw it (or spend it) when I'm in that country using the attached debit card. As usual, the rates they offer for conversions aren't great.
It looks like they have the same account available in Singapore. But also...it's not a credit card.
The thing to be careful of with the HSBC card is that the rebates aren't guaranteed - they're not part of the core product (only the standard 0.4% is). Everything on top are based on promotions, such as an overseas spending promotion that just happens to have been extended for a few years running.
Also note the T&C - there are limits to the actual rebate amount:
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Cardholders who have successfully completed the Registration and conducted Eligible Transaction(s) with an Eligible Credit Card for a cumulative Net Spending Amount (as defined in Clause 7 below) of HK$3,000 or above (the "Spending Requirement") in each Phase during the Promotional Period are entitled to receive:
i. an extra 5 times RewardCash (equivalent to 2% RewardCash rebate) on Eligible Transactions (the "2% RewardCash Offer"). In respect of the 2% RewardCash Offer, each Cardholder is entitled to receive a maximum of an extra $300 RewardCash rebate in each Phase. This is in addition to the basic RewardCash (i.e. $1 RewardCash for every HK$250 spent, which is equivalent to 0.4% RewardCash rebate), giving Cardholders up to 6 times RewardCash (equivalent to up to 2.4% RewardCash rebate).
ii. another extra 5 times RewardCash (equivalent to 2% RewardCash rebate) on Eligible Overseas Transactions (as defined in Clause 5 below) conducted with an Eligible HSBC Premier MasterCard® Credit Card (the "2% RewardCash Offer for Premier"). In respect of the 2% RewardCash Offer for Premier, each Cardholder is entitled to receive a maximum of an extra $300 RewardCash rebate in each Phase.
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Correct me if i'm wrong, but (i.) refers to the base 2.4% reward (not the Signature/Premier bonus, or the 2% from selecting 'overseas spending' category). That means one must spend $3,000 each phase to be eligible, and even then only the first $15,000 of spending would apply (max. $300 RewardCash).
Since (ii.) doesn't mention Signature cards - and I couldn't find a clause that does - I assume there's no limit for the additional 1.2% those card holders get.
I also assume no limit for those who choose 'overseas spending' as the reward category (but i've put mine into supermarkets, so I don't get those anyways).
Do you get the ATM rebate with Citi of you elect to convert from HKD at the time of withdrawal?
The Global Wallet sounds useful for speculation but an extra complication for those who prefer to avoid speculating.
I wonder if there's a way to use this to reduce using HKD.
Think I have been doing not right then! I use my signature card for everything in HK. Overseas I use a UK card which has the best MasterCard exchange rate and no additional charges.
I never really understood HK credit cards. Far too complicated. Pity I did know the above when I got my signature card back in 2017. We travel a lot! Anyway leaving HK in the summer so probably not worth worrying about it now.
Presumably not an HSBC one? I keep my UK HSBC VISA for a token few GBP transactions each year. Stupidly decided to use it on an EUR transaction last month, only to notice a 3% handling fee. (The FX fee was not marked up). Still... that's 3% vs. the usual HK 1.95%. Crikey!
Guys I can't recommend the CURVE Card highly enough.