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HSBC to End GIRO Cashback on Everyday Global Account from November 2025

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!

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.

author avatar
Audz

Audz, your lobang sis - sharing personal finance to achieve happiness, prosperity and progress for us all.

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