HSBC Hong Kong launches the new HSBC Global Private Banking Mastercard Debit Card and Supplementary Debit Card to provide customers with the most rewarding and convenient foreign currency payment experience, including the most competitive foreign currency exchange rates, a waiver for foreign currency transaction fees, a handling fee waiver for foreign currency cash withdrawal at HSBC Group and Mastercard and Cirrus network ATMs worldwide, and a 0.5% instant cash rebate on all spendings. Notably, the launch of supplementary debit cards is the first of its kind in Hong Kong.
Amy Kam, Head of Cards and Personal Lending, Wealth and Personal Banking, HSBC, Hong Kong said: “There was an extraordinary 70% year-on-year increase in the number of debit cards issued in 2023. Overall debit card spending also surged by 100% year-on-year. For the same period, overseas debit card spending by HSBC customers was also up 120%, reflecting a growing demand for debit card-related services. In response to these needs, we have rolled out a dedicated debit card for our global private banking clients, ensuring seamless and convenient spending when traveling overseas or making online FX transactions. In addition, HSBC Global Private Banking Mastercard Debit Card holders can easily manage their accounts 24/7 through the HSBC HK App, whether during travelling or supporting their children studying overseas. Clients can adjust spending and cash withdrawal limits, and monitor supplementary card expenditures.”
To cater to the overseas spending and overseas education needs of clients and their families, the HSBC Global Private Banl‹ing Mastercard Debit Card supports up to 12 designated currencies, including AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, RMB, SGD, TH B and USD.
Bryce Wan, Marl‹et Head of Global Private Banl‹ing, North Asia, HSBC, said: “We are pleased to introduce our HSBC Global Private Banking Mastercard Debit Card’. This new card is designed to deliver best-in-class foreign currency payment services for our clients, particularly a spending limit of up to HKD200,000‘ with a waiver of all administrative fees. Our recent report shows that 96% of Hong Kong entrepreneurs are actively seeking international business expansion, with over half exploring global educational opportunities for their children. As our clients continue to pursue an international lifestyle, we will continue to enhance our services to offer an unparalleled client experience.”
About The Hongl‹ong and Shanghai Banl‹ing Corporation Limited
The Hongkong and Shang hai Banl‹ing Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 62 countries and territories. With assets of $3,021 bn at 30 September 2023, HSBC is one of the world’s largest banking and financial services organisations.