best no foreign transaction fee credit cards hsbc

For details visit HSBC website > Banking > Explore credit cardsįor context, the last time HSBC increased its FCY charge was in November 2018 when it went from 2.5% to 2.8%.Īs before, all transactions in USD will be converted into SGD based on the Mastercard/Visa rates before the fee is applied. In addition, payment via cheque and 7-Eleven stores will not be available from.

The changes are for interest rate on purchases, late payment fee and administrative fee for foreign currency transactions. HSBCSG: With effect from, there will be changes in fees and charges that apply to your HSBC credit card. HSBC currently imposes a 1.8% fee on all FCY transactions, which together with the 1% charged by Mastercard and Visa yields a total FCY fee of 2.8%.įrom 4 January 2023, HSBC will be hiking its fee to 2.25%, which together with the Mastercard/Visa fee yields a total of 3.25%. Per an SMS sent to customers: As it stands, there’s only two card issuers still offering sub-3% FCY fees: American Express, and HSBC.įrom January 2023, HSBC is going to drop out of that club. Over the past few years, we’ve seen the market move out of the 2% range and into 3%. Despite the emergence of overseas spending alternatives like Amaze, Revolut and YouTrip, banks seem to have little concern about increasing the foreign currency (FCY) transaction fees on their credit cards.

Best no foreign transaction fee credit cards hsbc