Foreign Currency Account FAQs

• What foreign exchange (FX) products and services are available at HSBC?
• What can I use foreign exchange (FX) for?
• What rules apply to foreign exchange (FX) transactions?
• Who can make foreign exchange (FX) transactions?
• What platforms can I use to make foreign exchange (FX) transactions?
• What risks are associated with foreign exchange (FX) products?
• As an HSBC customer, will I have access to the latest foreign exchange (FX) updates and insights?
• Can I transfer money to anyone overseas?
• What are the cut-off times?

We offer a wide range of foreign currency exchange products and services including:

• Foreign Currency Deposits: Savings and Time Deposit Accounts
• Dual Currency Investment (DCI): A structured investment product linked to the performance of foreign exchange rates, which allows you to potentially earn higher returns and meets your foreign currency investment needs
• Global Money Transfers: Transfer your funds swiftly and securely across the globe with the HSBC Malaysia Mobile Banking app
• Telegraphic Transfers: Make international transfers to 200 countries and territories via SWIFT network
• Global Transfers: Premier and Advance customers can send money to their own or third-party HSBC accounts overseas instantly, at zero transfer fees
• FX Rate Alerts: Set your own target FX rate and get alerts when your designated FX rate is reached

You can use FX for a number of purposes including:

• investing in foreign currency denominated products to potentially gain higher returns
• making payments in a foreign currency, e.g. paying tuition for a child studying abroad
• spending on purchases while on holiday overseas

The Foreign Exchange Policy (FEP) notices are administered by Bank Negara Malaysia (BNM) under the Financial Services Act 2013 and Islamic Financial Services Act 2013 to speed up the development of the Malaysian financial market and to promote financial stability.

Depending on your residency status and whether you have domestic ringgit borrowing or financing, you may have a limit imposed on your investments in foreign currency assets, onshore and offshore. To learn more about how the FEP may affect you, please read our full FAQ.

You'll need to have a valid Current or Savings Account in order to make FX transactions such as a Foreign Telegraphic Transfer.

There are a few ways you can make FX transactions.

• In online banking
• In mobile banking
• Contact a branch

If you're an HSBC Premier customer, you can also make FX transactions between your own accounts in Malaysia over the phone. You can call us to do so on our:

• Local call number: 1300 88 9393
• International call number: +603 8321 5208
• International call number (call collect): +603 8321 5222

The risks will vary from product to product. They may include the following:

• Principal risk
• Credit risk
• Legal risk
• Currency risk and return risk
• Market risk and liquidity risk
• Operational risk
• Early redemption by the investor risk
• Early redemption by the bank risk
• Options risk
• Tax risk
• Re-investment risk and settlement risk
• Counterparty risk
• Compound of risks

For a more detailed explanation, please refer to the Risk Disclosure Statement of the product.

Yes, we provide updates on the latest FX market news on the HSBC website, including:

• FX Daily Focus
• FX Weekly Update
• FX Currency Performance

Yes, you can transfer foreign currency to your children studying abroad, and friends or relatives travelling or living abroad via our Telegraphic Transfer, Global Money Transfers and Global Transfer services*.

^*Subject to BNM Foreign Exchange Policy