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By by Jason Gorringe, Tax-News.com, London
15 December, 2015
HSBC has begun offering a new fee-free retail currency account targeted at the increasing number of people from the UK working, living, or travelling abroad.
HSBC said the account offers customers flexibility in managing their money internationally, by providing a hassle-free way of making payments in foreign currency.
Recent research by HSBC found that frequent overseas travel is the most common reason for its customers to hold a foreign currency account, followed by managing property overseas or living abroad.
The HSBC Currency Account is available in 14 major currencies: the US dollar; the euro; the Australian dollar; the Emirati dirham; the Canadian dollar; the Hong Kong dollar; the New Zealand dollar; the South African rand; the Swiss franc; Chinese renminbi; the Singapore dollar; Japanese yen; the Norwegian krone; and the Swedish krona.
HSBC said there is no minimum balance required to maintain the account and no monthly account fee. With easy access to the account via online banking, customers can manage their finances wherever they are in the world and move their money at a time that suits them.
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