HSBC has announced another major change to the HSBC Everyday Global Account (EGA)—effective 1 November 2025, the 0.5% cashback on GIRO bill payments will be removed completely.
For many account holders, this comes as a disappointment because GIRO cashback was one of the most practical and rewarding features of the EGA.
HSBC Everyday Global Account Cashback – Quick Guide
How to Qualify (2 Criteria)
1. Deposit Requirement
- Put in at least S$2,000 every calendar month via salary crediting or inward transfers from a non-HSBC bank account
- Easy hack: Transfer $2,000 in from another bank, leave it a few days, then move it back out.
2. Transaction Requirement
- Do at least 5 Eligible Transactions each month.
- No minimum spend required.
- Eligible Transactions include:
- HSBC personal Credit Card spend (SGD only)
- HSBC Everyday Global Debit Card spend
- GIRO bill payments (excluding self-initiated online GIROs)
- Fund transfers to non-HSBC accounts
- Excludes transfers between your own HSBC accounts.
Easiest way:
- Just make 5 FAST/PayNow transfers to other banks (any amount works).
- If using MRT/bus rides → you’ll need 5 different days, since all rides in a day = 1 transaction.
Extra Hack: GIRO Cashback
- Earn 0.5% cashback on all eligible GIRO bill payments (capped at S$300/month).
- Best use: Set up GIRO to pay your non-HSBC credit card bills.
A Quick Recap of the GIRO Nerf:
- Before August 2025: 1% cashback on GIRO bill payments
- August 2025: Reduced to 0.5%
- November 2025: GIRO cashback removed completely
Why GIRO Cashback Was the Best Part of the Account
The GIRO cashback wasn’t just a nice-to-have—for me, it was the best part of the Everyday Global Account. It allowed you to pay off non-HSBC credit card bills via interbank GIRO and earn cashback on them.
Here’s an example:
- UOB card bill: $3,000
- OCBC card bill: $500
- Maybank card bill: $4,000
- Total credit card bill = $7,500
With 0.5% cashback, you’d earn $37.50 just for paying your bills. At the old 1% rate, this would have been $75—a sizeable monthly rebate for something you had to pay anyway. But now, no cashback!
Terms and Conditions:
Conclusion:
For years, the GIRO cashback was the best part of the HSBC Everyday Global Account. It turned ordinary bill payments into effortless rewards, especially for those juggling multiple non-HSBC credit cards.
That said, you still have one more month (until 31 October 2025) to enjoy the 0.5% cashback on GIRO bill payments—so make the most of it before it’s gone for good.
