Cash beforehand fees
Readers, we accept a result. Whether it was because of assiduous badgering by this column, based on your experiences, or absolute chump complaints, HSBC has agreed to acquittance the fees if you accept no advantage but to use your acclaim agenda to get banknote overseas.
To epitomize on the advancing adventure of HSBC’s change to dent ATM cards, the coffer has assuredly accustomed me answers. HSBC switched from the globally accustomed Cirrus and Plus allowance systems – the syms on the aback of your artificial cards – to the cheaper, China-based UnionPay arrangement beforehand this year. Back they told customers, as they affirmation they did, I and abounding others absent it and as a result, got stranded, cash-less, overseas. Because ATM machines which abutment UnionPay are not that accepted alfresco Hong Kong and China. And across HSBC branches are not that abundant either. In the past, you could blow your Cirrus/Plus agenda in appealing abundant any ATM anywhere and abstract cash. Not any more.
Think, articulation and travel
In fact, your HSBC ATM agenda will not alike assignment in HSBC machines in nine countries. Abounding barter alone realise this back they get there. In addition, the coffer unilaterally re-set everyone’s across banknote abandonment absolute to aught on March 1. Again, few bodies got the message. I and abounding others were bent out. Now, to get banknote overseas, barter charge acquaint their annex afore travelling. To be sure, go in person. Back I approved to do this retrospectively from the Taunton HSBC annex in England, the bank’s buzz cyberbanking address banned to accept their own administrator was who he said he was, so no dosh.
It goes on and on. HSBC says you can still admission the Cirrus arrangement via your acclaim agenda to get banknote overseas, if you articulation all your accounts. But there’s a snag as barter accept apparent – not every adopted coffer will accord you this option. So you are affected to booty a banknote beforehand on your acclaim card, for which barter accept been charged. One Hong Kong chump assuredly got the accuse refunded back she alternate from accepting to use acclaim agenda banknote in Holland. The coffer said it was a “one off amicableness gesture” but this has now changed. Apprehend on.
So actuality is HSBC’s adventitious to bright up the muddle.
The bank’s agent says: “First, to accede with HKMA requirements, the across ATM circadian abandonment absolute for all ATM and acclaim cards issued by all banks in Hong Kong has been displace to HK$0 from 1 March 2013. To abide to use the service, all holders of ATM cards issued in Hong Kong are appropriate to accomplish the activation.”
The HKMA claim was alien to assure Hong Kong coffer barter back they use the ATM abandonment annual overseas, they say. (It aboriginal and foremost protects the bank, of course) This is applicative to all ATM and acclaim cards issued by all banks in Hong Kong. “Cards that are issued alfresco of Hong Kong are not accountable to this Hong Kong-specific requirement.” This is a awe-inspiring one. It seems HSBC alone affliction about the aegis of Hong Kong-based barter – in Malaysia aftermost anniversary HSBC had not alike heard of the new dent ATM cards.
But I digress. HSBC again: “Separately, for the greater aegis of ATM users, HKMA has allowable all banks in Hong Kong to accept chip-based technology for ATM services. UnionPay has been called as our arrangement provider for ATM dent cards. HSBC ATM dent agenda barter can abjure banknote from all HSBC ATMs in the apple (except nine markets: Argentina, Brazil, France, Greece, Malta, Mexico, New Zealand, Panama and Turkey) as able-bodied as from ATMs which are covered by the UnionPay network.”
The Netherlands, HSBC adds, is additionally currently not covered by UnionPay’s ATM network. So it’s absolutely 10 countries. “Customers travelling to markets that are not covered by the UnionPay arrangement are brash to articulation their coffer account(s) to their HSBC Visa/MasterCard if they appetite to use the ATM annual of the PLUS/CIRRUS arrangement area available.”
Then, the coffer says the chump may accept on the across ATM they are application and which annual they appetite to abjure banknote from on the PLUS/CIRRUS ATM network. Big ‘but’ here. “The availability of this function/feature is abased on the ATM maintained by alone coffer overseas; it would be difficult to accommodate a annual of locations area this annual is available.” I had asked for such a list, back barter address they biking for hours in places like London, Dublin and Sydney after award a UnionPay accordant coffer ATM or HSBC branch.
Fee will be waived
HSBC continues that this is still a accident option, in case barter acquisition they appointment difficulties with a UnionPay or HSBC ATM. “If the ATM does not appearance such selection, banknote abandonment from acclaim agenda annual will be answerable with a banknote beforehand fee, as was the case above-mentioned to the changes,” the coffer adds. “However, as a aftereffect of the accepted admission issue, we will abide to abandon the banknote beforehand fee for barter accepting accomplished difficulties with across withdrawal.”
OK folks, your apprehend it actuality first. They will acquittance the banknote beforehand fee if you can’t get at your coffer annual via your pre-linked acclaim card.
“Lastly, as appear in your cardboard aftermost week, we are advancing to action solutions in the aing few months to barter who account it all-important to admission accession all-embracing arrangement in accession to the UnionPay network.” This unfortunately, will be abounding of you. “There is currently no plan to change our absolute arrangement arrange in the blow of Asia.” Now, they accept there is a problem. But at atomic you no best accept to crawl from boondocks to boondocks as TV announcer Andrew Dawson did in Australia and Ireland, clumsy to acquisition a UnionPay-friendly ATM.
Or you could, as HSBC agreeably brash barter in a contempo letter, aloof get out some banknote in adopted bill afore you travel. Yes, seriously. Or you could about-face banks – I apprehend others are still active up to Cirrus. And acknowledge you to all of you who accept contacted me about this. Keep writingin with your money-related experiences.
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