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Foreign Currency Account FAQs

What foreign exchange (FX) products and services are available at HSBC?

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
  • Telegraphic Transfer: To send or receive funds from abroad, in various currencies
  • Global Transfer: Premier and Advance customers can send money to their own or third-party HSBC accounts overseas instantly, at zero transfer fees

What can I use foreign exchange (FX) for?

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

What rules apply to foreign exchange (FX) transactions?

Bank Negara Malaysia (BNM) controls the Foreign Exchange in Malaysia. To see what rules apply for FX transactions, please visit the BNM website.

Who can make foreign exchange (FX) transactions?

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

What platforms can I use to make foreign exchange (FX) transactions?

There are a few ways you can make FX transactions.

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:

What risks are associated with foreign exchange (FX) products?

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.

As an HSBC customer, will I have access to the latest foreign exchange (FX) updates and insights?

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

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

Can I transfer money to anyone overseas?

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

*Subject to BNM Foreign Exchange Policy

What are the cut-off times?

Transactions made via Telegraphic Transfer are subject to currency cut-off times, e.g. 10am for AUD, NZD and JPY; 10:30am for THB.

Transfers made after the cut-off time will be processed on the next business day.

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