HSBC, one of the world’s largest banking and financial services organisations, offers a comprehensive suite of travel money services tailored for British holidaymakers.
HSBC offers several services to facilitate currency exchange:
Currency Orders: Customers can order over 50 currencies online, which can be delivered to their home or collected from a local HSBC branch. This flexibility allows travellers to secure their foreign currency ahead of time, ensuring a smooth start to their journey.
Buy-Back Service: If you have leftover foreign currency after your trip, HSBC offers a buy-back service. To use this service, you must take your unused notes to one of HSBC’s Full Service or Cash Service branches. The funds from the buy-back are then deposited directly into your bank account. However, it’s important to note that the buy-back rates may not always be as competitive as those offered by other providers.
Travel Credit Cards: For those travelling frequently, HSBC offers a travel credit card with no foreign transaction fees, which is a great choice for savvy spenders looking to earn rewards on their purchases abroad.
Customer feedback for HSBC Travel Money is generally positive. Many users appreciate the convenience of ordering currency online and collecting it from their local HSBC branch or having it delivered to their home.
However, some reviews mention concerns about the exchange rates and buy-back process. While the rates are generally competitive, some customers feel that they could find better rates elsewhere, particularly with specialist providers. Similarly, the buy-back rates are not always viewed as favourable, which may be an issue if you have leftover currency after your trip.
On Trustpilot, HSBC Travel Money holds a respectable rating, with many customers praising the straightforward service and ease of use. Positive reviews often highlight the smooth and efficient online ordering process, and the quality of customer service at branches.
Pros:
Convenient Services: With the ability to order currency online and collect it from a nearby HSBC branch, or have it delivered to your home, the process is hassle-free.
Trusted Brand: HSBC’s reputation for reliability and customer service offers peace of mind to travellers.
Comprehensive Services: Access a wide range of travel money services, including currency orders and international payments.
Cons:
Exchange Rates: Some customers have noted that HSBC’s exchange rates are not always as competitive as those offered by other providers, particularly for online purchases.
Buy-Back Rates: The buy-back rates for unused currency may not be as high as those provided by other specialists in currency exchange. To use the buy-back service, you must visit a Full Service or Cash Service branch, which may not be convenient for all customers.
Account Requirement: To access HSBC’s travel money services, you must have an account with HSBC, First Direct, or M&S Bank. This requirement may limit the availability of services to non-customers.
Order Ahead: To secure the best rates and ensure timely delivery or collection, it’s advisable to order your currency in advance.
Check Buy-Back Rates: If you plan to return unused currency, be aware that the buy-back rates may not be as competitive as those offered by other providers. You’ll need to visit a Full Service or Cash Service branch to complete this transaction.
HSBC Travel Money is a solid choice for UK travellers looking for convenience and reliability. The ability to order currency online and pick it up in-store, along with travel credit card options, makes it an attractive choice for many. However, a key limitation is that you must have an account with HSBC, First Direct, or M&S Bank to access their services, which may exclude potential customers who are not already account holders. Additionally, the buy-back process requires a visit to a Full Service or Cash Service branch, which may not be convenient for everyone. For those primarily looking for the best exchange rates or the highest buy-back rates, it may be worth comparing their offerings with those of specialist foreign exchange providers. If you value the convenience of ordering through your bank and appreciate a trusted name, HSBC is a solid option for your travel money needs.
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We advise you to carry out your own due diligence before buying or selling travel money.
