5. What kind of foreign currency purchases does this limit apply to?
The limit applies to all non-cash foreign currency transactions including face to face purchase transactions and e-commerce/online transactions.
6. What if I am paying for something online that exceeds the monthly limit will you reject my purchase immediately or later?
Yes, if you reached your debit card foreign currency purchases limit per month, the transaction will be rejected.
7. How will the foreign currency transactions be converted into the equivalent in Egyptian Pounds?
Transactions in foreign currency is converted into the equivalent in Egyptian Pounds at the prevailing market rate at the posting date and not at the transaction date attracting the foreign currency mark-up fees and charges as per the ‘Schedule of Charges’ announced on our website. Foreign Currency Transactions are converted into your billing currency by the card scheme (Visa or MasterCard®) or HSBC using their applicable exchange rates on the day conversion is made (which is the transaction posting date on HSBC system and not the actual date of transaction and which may involve a conversion to US Dollars or Hong Kong Dollars first).
Section II: Foreign currency cash limits
1. What are the new cards foreign currency cash capping?
HSBC Cards cash overseas withdrawal limit per month will be USD 500 (or equivalent) effective 1 May 2017.The normal cards daily limits for both cash & purchase still apply (no change).
Note: The monthly capping of USD 500 (or equivalent) applies to the overall cash withdrawals by the card customer overseas (covering all his accounts & Cards – irrelevant of the account currency).
2. What are the transactions that fall under this monthly capping?
The following transactions are included within the new capping of USD 500/month:
• All ATM cash withdrawals from customer accounts using Debit Cards
• All ATM cash withdrawals from customer accounts using Credit Cards
• All Cash Advance transactions from ATM machines using credit cards