HSBC credit card foreign transaction fees guide

Using your credit card is a simple way to make payments abroad. However, many credit cards charge foreign transaction fees — and you may end up spending more than expected.

The HSBC® Premier Credit Card and Elite Credit Card are no foreign transaction fee credit cards — but that doesn’t mean you won’t be charged for international spending.

We’ve put together a full guide to HSBC credit card foreign transaction fees, including a breakdown of exchange rates and ATM charges.

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Does HSBC have foreign transaction fees?

HSBC credit cards don’t charge foreign transaction fees.

However, if you use your HSBC Debit Mastercard® card, you may be charged a fee for any purchases abroad. This includes international payments made online.

When you make an international purchase, the foreign transaction amount may be increased by a percentage set by HSBC. This is subject to change, so make sure to double-check how much HSBC will add when you travel abroad.¹

Can you use your HSBC card abroad without paying for international transaction fees?

There are a few ways to avoid foreign transaction fees abroad. You can use your HSBC Elite Credit Card or HSBC Premier Credit Card, as these cards don’t levy international transaction fees.

By using your credit card to pay for international purchases directly, you can also avoid any foreign ATM operating fees.

HSBC credit card charges abroad

Although HSBC credit cards don’t charge foreign transaction fees, there are still some HSBC credit card charges abroad to consider.

ATM charges

If you take cash out of an ATM abroad using your HSBC credit card, HSBC won’t charge you a fee.

However, some ATM operators charge their own fee for using their machines, so this is an important cost to consider when you’re off on vacation.¹

Exchange rate

HSBC charges an exchange rate margin for any credit card purchases in a different currency. The bank doesn’t publish the exact details of this rate, but the markup could add up to 3.5% to the cost of your transaction.²

This means you may end up paying more than expected on your trip.

Interest rates

HSBC credit card interest rates apply when withdrawing cash or making purchases outside the US.¹

The HSBC Premier Credit Card and Elite Credit Card both charge a variable APR of 20.99% to 24.99% on purchases and balance transfers, at home and overseas.¹

Dynamic currency conversion

Dynamic currency conversion (DCC) is a service that allows you to pay for any purchases abroad in USD, rather than local currency.

This might sound great — but paying in USD can actually work out more expensive in some cases, as sellers set their own exchange rate, rather than the rate used by HSBC.

As with any foreign transactions, it’s important to consider the DCC cost implications before making your credit card purchase.

To avoid having this extra cost applied to your transactions, always choose the local currency when making a payment or withdrawal abroad.

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HSBC credit card foreign transaction fee breakdown

If you use your HSBC Debit Mastercard card abroad, you’ll be charged a foreign transaction fee. This fee is charged as a percentage of your purchase, and it is dictated by HSBC. The bank can alter this percentage at any time, so make sure to double-check before you travel.¹

There are some benefits of this card for travelers, like an emergency card replacement service, an emergency cash advance, and support finding ATMs abroad using Mastercard Global Service.¹

Which HSBC credit cards have no foreign transaction fees?

Some HSBC credit cards don’t charge foreign transaction fees — although ATM fees and exchange rate margins may still apply.

HSBC Premier Credit Card

Also known as the HSBC Premier World Mastercard, you won’t be charged any foreign transaction fees for using this credit card abroad.

You can also access a reimbursement of your TSA PreCheck application and earn 2X Rewards Points on new travel purchases.

However, you can only apply for this card if you’re an existing US HSBC Premier checking account customer.¹

HSBC Elite Credit Card

The HSBC Elite Credit Card doesn’t charge foreign transaction fees - and you can also earn 3X Rewards Points on new travel purchases.

This card costs 395 USD per year. You can add other users for 65 USD per person.¹

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It’s important to understand how much you’re actually paying when you make a purchase abroad, especially if you’re thinking about which credit card to take on vacation with you.

Both the HSBC Premier Credit Card and HSBC Elite Credit Card don’t charge foreign transaction fees — but other international charges may still apply for some payments.

To find out more about making the most of your international spending, check out Wise.

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Sources:

1. HSBC

2. Money Transfers

3. Transaction speed claimed depends on individual circumstances and may not be available for all transactions

Sources checked on 06.23.2023