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A woman is walking on the street with a luggage; image used on HSBC Malaysia travel care page.

Travel Care

Go on a totally fuss-free, carefree holiday with travel care.

Not all who wander are lost, but your luggage certainly could go missing. That's just one of the unexpected events that could put a dampener on your travel plans - there might also be flight delays, accidents or lost passports to contend with.

Travel Care provides a comprehensive suite of coverage and Allianz's Authorised Representative's emergency hotline (+603-76283919 or +603-79653919) is available 24 hours a day to support you through any emergency you might face, so you and your loved ones can have a stress-free trip filled with beautiful memories.

do you get free travel insurance with hsbc

Stand to receive a Touch 'n Go eWallet Reload PIN worth up to RM50

Be one of the first 200 customers to purchase travel care with the promo code 'hsbc23' and get a touch ‘n go ewallet reload pin worth up to rm50. promotion period 27 november 2023 - 30 april 2024., ¹allianz travel care ("this plan") is underwritten by allianz general insurance company (malaysia) berhad (company no. 200601015674 (735426-v)) ("allianz general") and hsbc bank malaysia berhad ("hsbc malaysia") is the intermediary in distributing this plan. travel care customer campaign promotion  terms & conditions  apply..

  • Overseas and domestic travel coverage This includes coverage for luggage and travel delays, and for overseas travel, the coverage also includes loss or damage to your travel documents, personal luggage and valuables, and more
  • Accidental death and permanent disability coverage
  • Emergency medical evacuation and repatriation programme
  • Reimbursement of medical expenses We'll reimburse the necessary and reasonable medical, surgical or hospital charges, and emergency dental treatment fees incurred as a result of accidental bodily injuries, illness or death during your trip
  • Option to purchase rider plans to extend your coverage when you participate in certain sports or events during your travels

What your coverage includes

What you need to know, are you eligible.

You're eligible for a Travel Care plan if you belong to one of the following categories:

  • Malaysian citizen or permanent resident
  • valid work permit or student pass holder
  • legally employed in Malaysia

You'll also be able to get coverage for your spouse and child if they legally reside in Malaysia.

Good to know

Emergency contact information .

If there's an emergency when you're travelling, you can call the Allianz 24-hour emergency hotline on +60 3 7628 3919. Toll fees may apply.

Cover for COVID-19 

Travel Care covers medical expenses for COVID-19 treatment, subject to policy terms and conditions. Your diagnosis must be certified by a medical practitioner, and you'll also need to provide a supporting lab report or medical report that states your diagnosis. 

Cover for high-altitude mountaineering 

You can get cover for high altitude mountaineering by contacting Allianz via email on  [email protected] , or by calling 1300 22 5542.

What options for Travel Care plans are available?

The following plans are available:

  • Adult Plan/Adult Annual Plan: if you're aged 18-70 years old
  • Child Plan/Child Annual Plan: if you're aged 30 days-17 years old
  • Senior Citizen Plan: if you're aged 71-80 years old
  • Family Plan: if the policyholder is aged 18-70 years old, the policyholder's 1 selected legal spouse is aged 18-70 years old and the policyholder's child/children is/are aged 30 days-24 years old
  • Under family plan, the payment per individual will be based on the limit under an adult plan and/or child plan, as the case may be subject to the maximum limit as stated in the Schedule of Benefits in the brochure and policy document.
  • Maximum period of coverage per journey/trip is 200 days for one way or return trip.
  • Maximum period of coverage per journey/trip is 90 days for annual policy.
  • Maximum period of coverage per journey/trip for High Altitude Mountaineering activities is 30 days.
  • Each trip must begin and end in Malaysia except for one way trip.
  • Maximum period of coverage per journey/trip is 30 days for one way/return trip or annual policy.
  • Premium is subject to Service Tax.
  • Customer may opt for Automatic Renewal (for annual policy only). This policy is deemed to be automatically renewed and the applicable premium will be charged upon expiry unless otherwise instructed.

For other key terms and conditions, please refer to the Product Disclosure Sheet in the link below.

Ready to apply for Travel Care?

Get a quote via mobile banking / online banking.

If you're an HSBC credit card customer, you can apply via our mobile banking app or online banking. Go to the homepage, select 'Products and services', and choose 'Travel Care'. We'll help you apply by filling in information from your records.

Get a quote without logon

As HSBC credit card or debit card holders, you may also get a quote without logging on to your Mobile Banking.

do you get free travel insurance with hsbc

Scan the QR code to get the app

Download the HSBC Malaysia Mobile Banking app on your iOS or Android device.

  • Learn more about mobile banking  

Need help? Check out our  step by step mobile guide .

The information provided on this page is not a contract of insurance. The descriptions of cover are a brief summary for quick and easy reference. The precise terms and conditions that apply are in the policy document. Allianz Travel Care ("this Plan") is underwritten by Allianz General Insurance Company (Malaysia) Berhad (Company No. 200601015674 (735426-V)) ("Allianz General") and HSBC Bank Malaysia Berhad ("HSBC Malaysia") is the intermediary in distributing this Plan. This Plan is exclusively for HSBC Malaysia Credit and Debit Cardholders only. Please read and understand the Product Disclosure Sheet (PDS), Brochure and Policy Wording before signing up.

  • Product Disclosure Sheet (PDF) Product Disclosure Sheet (PDF) Download
  • Brochure (PDF) Brochure (PDF) Download
  • Policy Wording (Domestic) (PDF) Policy Wording (Domestic) (PDF) Download
  • Policy Wording (Overseas) (PDF) Policy Wording (Overseas) (PDF) Download
  • Allianz General Insurance Company - Privacy Notice (PDF) Allianz General Insurance Company - Privacy Notice (PDF) Download

Important Notes 

1. This insurance product is protected by Perbadanan Insurans Deposit Malaysia (PIDM). Please contact PIDM to obtain further information relating to Takaful and Insurance Benefits Protection System(TIPS).

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Travel insurance

do you get free travel insurance with hsbc

Free travel insurance for you and your loved ones

Travelling away from home without travel insurance puts you at risk of a number of situations. Needing medical treatment for illness, cancelled trips and other financial emergencies can turn your dream holiday into an overseas nightmare.

If you're a Premier or Advance customer, HSBC offers you free travel insurance. All you need to do is settle full or part payment of your flight, marine transport service and/or accommodation with a valid HSBC Premier/Advance debit or credit card.

Eligible accounts

What’s included.

Cover applies to you (the HSBC Premier or Advance customer) and your eligible family members* provided you are under 76 years of age for a maximum period of 90 days (HSBC Premier customer) or 60 days (HSBC Advance customer) per trip.

  • free multi-trip worldwide cover
  • personal accidents cover for unexpected injuries or fatal accidents
  • medical expenses cover for medical treatment including hospital stays
  • 24-hour emergency assistance for help when you need it most
  • personal belongings cover for accidental loss, damage or theft of possessions
  • travel cancellation and delay cover for when your holiday plans are disrupted
  • personal liability cover for injury to someone else or damage to their property
  • hire vehicle excess cover for Premier customers

A printable summary of the table of benefits highlighting your limits and excess can be found in our Important Documents page .

As with all insurance policies, terms and conditions, exclusions and limitations apply, so before each trip we recommend that you check carefully the policy documentation.

If you require additional cover, you are requested to contact Mediterranean Insurance Brokers (Malta) Ltd.

*Eligible members include partners living at the same address, as well as children living with you, under the age of 18 or under 25 if in full-time education.

Any questions

Policy queries.

Mediterranean Insurance Brokers

+356 2343 3234

Monday to Friday 08:30 - 17:00

Email Mediterranean Insurance Brokers

Premier customers

Premier Direct

+356 2148 9100

24 hours a day, 7 days a week

Advance customers

Advance dedicated line

+356 2148 9101

Monday to Saturday 08:00 - 18:00

In case of a medical emergency

In the event of a medical emergency during your trip, you must contact Global Response as soon as possible. Global Response is a world-wide organisation specialising in emergency assistance services. The service operates 24/7, 365 days a year for advice and assistance when making arrangements for hospital admission, repatriation and authorisation of medical expenses.

Over the phone:  +44 (0) 292 066 2438

By email:   [email protected]

Premier customers should quote Atlas Policy Certificate number - Travel: 167064 299 002

Advance customers should quote Atlas Policy Certificate number ­- Travel: 167064 299 001

How to make a claim

By phone.

+ 356 2343 3234

Monday to Friday from 08:30 to 17:00

Zentrum Business Centre

Level 2, Triq l-Imdina

Ħal Qormi, QRM 9010

This insurance is provided by Atlas Insurance PCC Limited and administered by Mediterranean Insurance Brokers (Malta) Ltd. A list of necessary information and documents required when making a claim can be found in our Important Documents page .

Important documents

You can download all the documents relating to our travel insurance, including terms and conditions, as well as information about what's covered and how to claim from our Important Documents page .

Frequently Asked Questions

Can i buy extra cover for a trip .

Yes, you can arrange additional cover for a trip at your own cost.

These optional extensions are available:

  • Increased limit for rental vehicle excess (free up to €500 for Premier customers and can be bought separately by Advance customers)
  • Winter sports extension
  • Specified items extension
  • Increase in baggage limit for cruises
  • Cancellation of trip (extreme weather conditions)
  • Maximum duration of trip extension
  • Covid-19 extension

To discuss your needs and obtain a quotation, contact Mediterranean Insurance Brokers on +356 2343 3234 or email  [email protected]

How long will I be covered for? 

If you're a Premier customer you'll be covered for a single trip of up to 90 days; it's 60 days for Advance customers.

Am I covered for business trips? 

Yes, the insurance covers both holidays and business travel.

Are eligible members travelling without being accompanied by the main cardholder still covered?  

They are covered irrespective of whether travelling with the cardholder or not.

Eligible members include partners living at the same address, as well as children living with you, under the age of 18 or under 25 if in full-time education.

What information do I need when making a claim? 

When making a claim it is important that you provide the necessary information and documents required, to enable Mediterranean Insurance Brokers to proceed with the handling of your claim. These may differ from one benefit to the other, however as a minimum the following documentation will be required:

  • Completed claim form
  • Passport Copy
  • Copy of ID card of Main Card Holder
  • Flight Tickets or e-tickets (departure and arrival)
  • Luggage Tags

Depending on the claim being made, additional documentation may be required such as:

  • Damage report by Airline/Cruise Line (Property Irregularity Report) if claiming for damaged luggage
  • Police report for lost or stolen items, within 24 hours of discovery
  • Medical Report/s (if claiming any medical expenses or cancellation of travel)
  • Hotel Accommodation Vouchers
  • Flight & Accommodation invoices & Receipts;
  • Documentation to confirm reason/s for cancellation or curtailment;
  • Cancellation confirmation from Airline / Agent indicating any refund due (if any);
  • Evidence of money taken abroad – this may take the form of foreign exchange receipts or cash withdrawals in case of Euros.

For further guidance contact Mediterranean Insurance Brokers on +356 2343 3234 or email   [email protected]

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Enjoy complimentary travel insurance promotion on selected HSBC credit cards

* Travel insurance coverage is underwritten by MSIG Insurance (Singapore) Pte. Ltd. HSBC Bank (Singapore) Limited is not the underwriter nor the distributor for this insurance plan. It is not an obligation of, deposit in or guaranteed by HSBC Bank (Singapore) Limited (Company Registration No. 201420624K).

1  HSBC Visa Infinite Credit Card Travel Insurance: Read the policy in detail . 

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3  HSBC Advance Credit Card: Read the policy in detail

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5 HSBC TravelOne Credit Card: Read the policy in detail

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Travel with your taste buds through global and sustainable dishes with One Planet Plate

Eating sustainably while on a holiday can be quite daunting, but it doesn’t mean that we have to stop paying attention to our environmental footprint while on the road.

One Planet Plate presented by HSBC aims to address the inherent problems in our food system, and has pulled together chefs from across the world to showcase dishes that celebrate local ingredients, produce zero waste and are low carbon footprint.

This opens up more opportunities for you to discover new sustainable restaurants and find out what delicious sustainable food actually looks, smells and tastes like in in Singapore and globally.

We've also partnered up with amazing restaurants so that you can explore a myriad of international cuisines right at your doorstep. View a range of exclusive credit card offers so you can shop and dine sustainably whilst in Singapore.

Find the latest travel and health restrictions for your trip with sherpa° travel advisory services

Travelling in a COVID-19 world is full of uncertainties, but with sherpa°'s travel advisory tool you can get:

  • Real-time COVID-19 restrictions and travel requirements
  • Latest quarantine protocols
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Travel and earn cashback with our multicurrency Everyday Global Account

Sign up now and receive preferential foreign exchange (FX) rates with our Everyday Global Account.  Terms and conditions apply .

Sign up for an account with us and enjoy the following benefits 

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To qualify for HSBC Everyday+, simply:

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Make 5 Eligible Transactions with your Everyday Global Debit Cards or any HSBC Credit Card

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Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to SGD75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

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do you get free travel insurance with hsbc

The three best bank accounts with travel insurance bolted on: We pick our favourites and whether they're worth paying for

  • Some bank accounts include annual worldwide travel insurance
  • They often also include car breakdown cover and mobile phone insurance 
  • Although there is a monthly cost, having such an account may make sense

By Ed Magnus For Thisismoney.co.uk

Updated: 03:28 EST, 9 August 2022

View comments

Many Britons will feel a bank account isn't something they're prepared to pay for - after all, most current accounts are 'free'.

However, some packaged bank accounts offer a host of benefits that added together could justify their monthly cost.

The typical perks include free annual worldwide travel insurance, car breakdown cover and mobile phone insurance, often with family members included. 

There is also the convenience factor of having three insurance policies taken care of saving both time and effort in having to organise it separately. 

Some bank accounts charge a monthly fee, but throw in perks such as annual worldwide travel insurance.

Some bank accounts charge a monthly fee, but throw in perks such as annual worldwide travel insurance.

Michelle Stevens, banking expert at comparison site Finder, says: 'If you and your family are frequent travellers, then a current account with packaged travel insurance could be well worth the monthly fee, especially given the rising cost of travel insurance premiums in the last two years. 

'But before signing up to any premium current account, it’s important you check that the terms of the travel insurance policy - as well as the other account features and perks - suit your needs.' 

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She adds: 'Another benefit of getting free travel insurance with a current account is that a lot of people usually forgo it - up to 8.6million in 2019 - which is not an advisable move. 

'If you get seriously injured abroad then the bill can reach hundreds of thousands of pounds, so having travel insurance included with a current account may result in a lot of people getting covered who may not have done so otherwise.'

We pick our three favourite current account deals for travel insurance, taking into account the monthly cost and the additional perks on offer.

1.  Nationwide Flex Plus  

This account offers worldwide travel insurance as well as mobile phone and European breakdown cover.

It does come with a £13 monthly charge, which, compared to other packaged bank accounts looks relatively cheap.

Its worldwide family travel insurance, includes winter sports, golf, weddings and business cover.

Nationwide offers worldwide travel, mobile phone and European breakdown cover and charges £13 a month for maintaining the account.

Nationwide offers worldwide travel, mobile phone and European breakdown cover and charges £13 a month for maintaining the account.

Cover for travel essentials includes luggage, documents and cash as well as protecting against travel-specific problems like delays, cancellations and medical expenses.

Then cancellation cover is up to £5,000, the medical expenses cover up to £10 million, whilst cover for travel disruption will be eligible when caused by natural disasters, or airline or travel end supplier failure.

The policy doesn't cover medical conditions unless they have been declared to Nationwide and accepted. In some instances, you can pay for a medical upgrade to your insurance policy.

Two other clauses to be aware of is that the longest trip length allowed is 31 consecutive days. 

For any person to be insured who is aged 70 or over, they must buy an age upgrade to cover them.

Although the monthly cost will add up to £156 a year, it's possible to offset much of this during the the first year, thanks to Nationwide's current account switching incentive.

Non-Nationwide members can currently get £100 for switching, whilst members who switch to the Flex Plus account could get £125.  

Saves the extra admin: Nationwide's annual travel insurance policy is worldwide, and covers a whole family for multiple trips, not just the individual account holder.

Saves the extra admin: Nationwide's annual travel insurance policy is worldwide, and covers a whole family for multiple trips, not just the individual account holder.

On top of travel insurance, account holders get vehicle breakdown cover both in the UK and the rest of Europe and mobile phone insurance for the whole family.

The car insurance is valid whether someone is a driver or a passenger in a vehicle, and comes with no excess to pay and unlimited callouts.

The mobile insurance covers mobiles belonging to the account holder and those belonging to their partner and dependent children. It covers for loss, theft, damage and faults.

2.  Virgin Money's Club M Account

Virgin's Club M Account comes with a £14.50 monthly charge.

Similar to Nationwide, it offers 31 days' worldwide cover per trip. It will cover the account holder and a partner living with them if there're both under 75, so it's a little more generous on that front.

Virgin's worldwide family multi-trip travel insurance - includes winter sports, golf and weddings. Plus, 24 hour access to a doctor at home or abroad.

Virgin's worldwide family multi-trip travel insurance - includes winter sports, golf and weddings. Plus, 24 hour access to a doctor at home or abroad.

There's also cover for up to four dependents under 18 - either in full time education or living with the account holder.

Emergency medical treatment, includes falling ill with coronavirus while away, and cover for the journey home, if it's medically necessary.

It also covers lost, damaged or stolen items, and if the baggage is delayed, any essentials will be paid for in the interim period. It also includes cover for delays or missed departures and winter sports as standard.

Account holders are also covered when cancelling or cutting short a trip if they fall ill with coronavirus as long as they didn't know they had it and weren't being tested for it when they booked their trip. 

The cover includes emergency medical, surgical, hospital, treatment and ambulance costs, as well as any additional accommodation and travel expenses if someone cannot return to the United Kingdom.

There is a maximum allowance of 31 days of worldwide cover per trip.

It covers the account holder and their partner living with them if they're both under 75. There's also cover for up to four dependents under 18. 

A claim will be void if it relates to any medical treatment received because of a medical condition or an illness related to a medical condition which a person knew about at the time of opening the account. 

What else? 

On top of the travel insurance it also offers UK breakdown cover with no call out charges, whether as the driver or the passenger and offers help at the roadside and at home.

It also offers worldwide mobile phone and gadget insurance covering against loss theft, damage, and breakdown

Just make sure you've declared any pre-existing medical conditions and don't leave your valuables unattended to be fully covered.

do you get free travel insurance with hsbc

Its Worldwide family multi-trip travel insurance - including winter sports, golf and weddings. Plus, 24 hour access to a doctor at home or abroad.

Virgin current account holders also benefit from various other perks.

It offers access to an easy-access linked savings account paying 1.71 per cent on balances up to £25,000. C ustomers can also benefit from 2.02 per cent on balances up to £1,000 in their bank account.

New customers switching to the Virgin Money Club M Account can also receive a bonus of 20,000 Virgin Points to spend with Virgin Red, thanks to Virgin Money's latest current account switching offer.

Virgin Red is a rewards club that turns everyday spending into points. Once you are a member, you can earn and spend Virgin Points across almost 200 different rewards.

The 20,000 Virgin Points boost means travellers could get a return flight to Barbados, the Bahamas or St Lucia, while bakery enthusiasts could turn their points into 100 sausage or vegan sausage rolls, 61 coffees or teas or 100 doughnuts or muffins.

3.  Halifax Ultimate Reward Current Account  

Halifax Ultimate Reward current account costs £17 per month, the equivalent of £204 per year. However, there are ways to dramatically reduce this via its cashback and switching offers.

The account includes a family travel insurance policy for the account holder, their spouse or partner and children aged 18 or under, or up to 24 if they're in full time education. 

It includes cover for personal belongings, certain sports and activities such as winter sports golf trips.

At £17 a month Halifax is the most expensive of our three top picks. However, its £150 cash incentive and £5 monthly cashback could help account holders to significantly reduce the cost.

At £17 a month Halifax is the most expensive of our three top picks. However, its £150 cash incentive and £5 monthly cashback could help account holders to significantly reduce the cost.

Its cover includes, up to £10million for hospital fees, repatriation, medical confinement, funeral and dental costs incurred if taken ill or injured on your trip. 

Up to £5,000 in total for loss of pre-paid travel and accommodation expenses in the case of cancellation or curtailment. 

It covers personal baggage up to £2,500 if it is lost, damaged or stolen. This includes up to £500 for valuables, and up to £500 for a single item or pair or set of items.

It also covers personal money up to £750 for loss, or theft. This includes up to £300 cover for cash. This is limited to £50 for under 16s.

Watch out: 

Existing medical conditions are not covered, unless these are agreed with the insurer first, and an additional premium may be payable.

The longest trip length is 31 consecutive days. For winter sports, a maximum of 31 days cover in a calendar year.

Halifax's travel insurance covers personal Baggage up to £2,500 if it is lost, damaged or stolen.

Halifax's travel insurance covers personal Baggage up to £2,500 if it is lost, damaged or stolen.

It's also worth noting that a £75 excess per adult per incident may apply and to be covered trips must start and end in the UK.

All cover ends when the account holder turns 71. As long as the account holder is less than 71, their spouse or partner will also be covered until they reach 71. 

Eligible children can also be covered so long as they are travelling with the spouse, partner or civil partner of the policyholder. 

What else: 

It also offers car breakdown cover with the AA. This covers any vehicle the account holder is travelling in, at the roadside or at home. But only in the UK. 

For mobile insurance, it covers breakdown, accidental damage, loss and theft up to £2,000. 

However, it only Covers one phone per account holder or two in the case of a joint account. An excess of £100 is payable on all successful claims.

The £17 fee makes it a little more expensive than a few others but there are ways to reduce the cost.

Halifax is currently offering a £150 switching incentive for those who switch from another current account.

On top of the £150 bribe there are other perks to take advantage of. There is a choice of £5 a month paid into the account, two film rentals or three magazine rentals, or a free cinema ticket each month.

In order to benefit from this account holders must choose to either Spend £500 on their debit card each month or Keep at least £5,000 in the account at all times.

They must also pay in £1,500 or more into your account each month and stay in credit - keeping your balance at £0 or above.

THIS IS MONEY'S FIVE OF THE BEST CURRENT ACCOUNTS

Chase Bank will pay £1% cashback on spending for the first 12 months . Customers also get access to an easy-access linked savings account paying 3.8% on balances up to £250,000. The account is completely free to set up and is entirely app based. Also no charges when using the card abroad.

Lloyds Bank

Nationwide's FlexDirect Account offers 5% in-credit interest to new joiners when they switch on balances up to £1,500. This rate only lasts for one year. The account is fee free.

Natwest

Halifax Reward Account pays £150 when you switch. Also earn up to an extra £75 cashback when you spend £750 each month for 3 months. There is a £3 monthly account fee, but that’s stopped by paying in at least £1,500 each month.

do you get free travel insurance with hsbc

First Direct will give newcomers £175 when they switch their account . It also offers a £250 interest-free overdraft. Customers must pay in at least £1,000 within three months of opening the account.

Nationwide

NatWest's Select Account account pays £200 when you switch. The account has no monthly charges, but to be elligible for the £200, you'll need to deposit £1,250 into the account and log into mobile banking app within 60 days.

Barclays

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Good times: Wiggle, which was founded in 1991, ran a pro cycle team

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Travel Insurance

Even during a holiday, life doesn't always go according to plan. Our Travel Insurance policy offers you peace of mind via coverage for a range of outcomes, including trip cancellation and curtailment, baggage and personal effects, personal accidents and medical expenses while abroad.

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BF&M has a 24 hour 7 days a week Travel Assist hotline which offers support and assistance. Please have your policy number ready for reference or keep it in a safe place when travelling.

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Who does Travel Insurance cover? 

This policy covers anyone between the ages of 2 and 75. Depending on the coverage purchased, up to 6 individuals can be covered under the Family Travel Policy.

How long does travel insurance coverage last? 

An Annual Travel Insurance policy will cover any number of trips in a single year. However, any one trip within that year cannot exceed 30 days. A Short Term Travel Insurance policy will cover up to a maximum of 14 travel days in total per year.

How often are premiums charged for travel insurance? 

Premiums for Annual and Short Term Travel Insurance are paid at the time of purchase. This is a one-time payment. For Annual Travel Insurance; your policy will automatically be renewed provided the premium is paid within 30 days of the expiry of your previous policy. For Short Term Travel Insurance, the policy is not renewable after the 14 day coverage. However, you may purchase another Short Term Travel policy for additional trips.

Can I cancel this insurance at any time? 

Yes, you can cancel your Travel Insurance policy within 14 days of the effective date and receive a full premium refund, provided you or any of the family members covered under the policy have not travelled outside of Bermuda during this period. If you cancel after the first 14 days, or if you or any of the family members covered under the policy have travelled outside of Bermuda within those 14 days, no premium refund can be made.

Are there any cities or countries excluded from my Travel Insurance policy? 

Countries are not specifically excluded; however, travelling to countries that are experiencing civil unrest, riots or wars are not covered. You can contact BF&M for more information.

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By ‘family’ we mean your spouse, domestic or civil partner and dependent children living with you who are under 18 – or under 23 if they’re in full-time education and living at home outside of term time.

Select and Cover Worldwide Travel is provided by Aviva Insurance Limited. The maximum age for cover is 70.

For details of the coronavirus cover offered as part of the Select and Cover travel option, see  What’s covered under HSBC Travel Insurance .

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FX Viewpoint: GBP: Consolidating before weakening slowly

do you get free travel insurance with hsbc

Key takeaways

  • The GBP is the second best performing G10 currency so far this year…
  • …in part, due to the considerable hawkish reappraisal of the BoE’s likely policy path.
  • As the BoE catches up on the dovish side with other central banks, the GBP could face more downward pressure.

The GBP has performed strongly so far this year…

For an economy that is in a technical recession (i.e., two consecutive quarters of negative growth in real GDP), the fact that the GBP is the second best performing G10 currency so far this year (Chart 1) could be viewed as remarkable.

do you get free travel insurance with hsbc

Note: Data was updated on 29 February 2024 at 17:30 HKT.

Source: Bloomberg, HSBC

do you get free travel insurance with hsbc

…as the path to a full dovish pivot by the BoE has been lengthened

In part, this reflects the recent considerable hawkish reappraisal of the Bank of England’s (BoE) likely policy path. So far in 2024, rates markets have taken close to 100bp of easing out of its expected path for the BoE’s policy rate and are now expecting the BoE to start cutting rates in August ( Bloomberg , 29 February 2024), which is also our economists’ expectation. While there has also been a hawkish adjustment in the US, it has not been so large.

The GBP is likely to track sideways over the near term amid mixed UK data, in our view

GBP-USD is beholden to rates, and its previous relationship with risk appetite appears to be broken so far this year (Chart 2). As such, the GBP can no longer capitalise on the upside to risk appetite from the US economy’s resilience. However, by the same token, it should mean the GBP is less vulnerable, should there be a measured correction in global risk appetite. All this points to a range-bound GBPUSD over the near term.

We see the GBP facing downside risks in the months ahead

We think that the main driver of the likely weakness for the GBP is the slow but clear pivot by the BoE towards a more dovish stance. The UK still faces a challenging inflation-growth mix, making it hard for the BoE to remain a more hawkish outlier in the G10 space. As the BoE catches up on the dovish side with other central banks, the GBP could face more downward pressure in the months ahead.

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Disclosure appendix

Important disclosures

This document is for information purposes only and it should not be regarded as an offer to sell or as a solicitation of an offer to buy the securities or other investment products mentioned in it and/or to participate in any trading strategy. Information in this document is general and should not be construed as personal advice, given it has been prepared without taking account of the objectives, financial situation or needs of any particular investor. Accordingly, investors should, before acting on it, consider the appropriateness of the information, having regard to their objectives, financial situation and needs. If necessary, seek professional investment and tax advice.

Certain investment products mentioned in this document may not be eligible for sale in some states or countries, and they may not be suitable for all types of investors. Investors should consult with their HSBC representative regarding the suitability of the investment products mentioned in this document and take into account their specific investment objectives, financial situation or particular needs before making a commitment to purchase investment products.

The value of and the income produced by the investment products mentioned in this document may fluctuate, so that an investor may get back less than originally invested. Certain high-volatility investments can be subject to sudden and large falls in value.

that could equal or exceed the amount invested. Value and income from investment products may be adversely affected by exchange rates, interest rates, or other factors. Past performance of a particular investment product is not indicative of future results.

HSBC and its affiliates will from time to time sell to and buy from customers the securities/instruments (including derivatives) of companies covered in HSBC Research on a principal or agency basis.

Whether, or in what time frame, an update of this analysis will be published is not determined in advance.

Additional disclosures

1. This report is dated as at 01 March 2024.

2. All market data included in this report are dated as at close 29 February 2024, unless a different date and/or a specific time of day is indicated in the report.

3. HSBC has procedures in place to identify and manage any potential conflicts of interest that arise in connection with its Research business. HSBC's analysts and its other staff who are involved in the preparation and dissemination of Research operate and have a management reporting line independent of HSBC's Investment Banking business. Information Barrier procedures are in place between the Investment Banking, Principal Trading, and Research businesses to ensure that any confidential and/or price sensitive information is handled in an appropriate manner.

4. You are not permitted to use, for reference, any data in this document for the purpose of (i) determining the interest payable, or other sums due, under loan agreements or under other financial contracts or instruments, (ii) determining the price at which a financial instrument may be bought or sold or traded or redeemed, or the value of a financial instrument, and/or (iii) measuring the performance of a financial instrument or of an investment fund.

This document is prepared by The Hongkong and Shanghai Banking Corporation Limited (‘HBAP’), 1 Queen’s Road Central, Hong Kong. HBAP is incorporated in Hong Kong and is part of the HSBC Group. This document is for general circulation and information purposes only. This document is not prepared with any particular customers or purposes in mind and does not take into account any investment objectives, financial situation or personal circumstances or needs of any particular customer. HBAP has prepared this document based on publicly available information at the time of preparation from sources it believes to be reliable but it has not independently verified such information. The contents of this document are subject to change without notice.

HBAP is not responsible for any loss, damage or other consequences of any kind that you may incur or suffer as a result of, arising from or relating to your use of or reliance on this document. HBAP gives no guarantee, representation or warranty as to the accuracy, timeliness or completeness of this document.

This document is not investment advice or recommendation nor is it intended to sell investments or services or solicit purchases or subscriptions for them. You SHOULD NOT use or rely on this document in making any investment decision or decision to buy or sell currency. HBAP is not responsible for such use or reliance by you. You SHOULD consult your professional advisor in your jurisdiction if you have any questions regarding the contents of this document.

You SHOULD NOT reproduce or further distribute the contents of this document to any person or entity, whether in whole or in part, for any purpose. This document may not be distributed to the US, Canada or Australia or any other jurisdiction where its distribution is unlawful.

HSBC Expat, a division of HSBC Bank plc, Jersey Branch, has distributed this document to its customers for general reference only. HSBC Expat is not responsible for any loss, damage or other consequences of any kind that you may incur or suffer as a result of, arising from or relating to your use or reliance of this document. We give no guarantee as to the accuracy, timeliness or completeness of this document. HSBC Expat will distribute this document to customers, at their request, where we can lawfully do so.

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In mainland China, this document is distributed by HSBC Bank (China) Company Limited (“HBCN”) to its customers for general reference only. This document is not, and is not intended to be, for the purpose of providing securities and futures investment advisory services or financial information services, or promoting or selling any wealth management product. This document provides all content and information solely on an "as-is/as-available" basis. HBCN is not responsible for any loss, damage or other consequences of any kind that you may incur or suffer as a result of, arising from or relating to your use of or reliance on this document. You SHOULD consult your own professional adviser if you have any questions regarding this document.

In Hong Kong, this document is distributed by HBAP to its customers for general reference only. HBAP is not responsible for any loss, damage or other consequences of any kind that you may incur or suffer as a result of, arising from or relating to your use or reliance of this document. HBAP gives no guarantee, representation or warranty as to the accuracy, timeliness or completeness of this document.

In Malaysia, this document has been prepared by HBAP is issued and distributed by HSBC Bank Malaysia Berhad (127776-V) / HSBC Amanah Malaysia Berhad (807705-X) (the "Bank"). The Bank is not responsible for any loss, damage or other consequences of any kind that you may incur or suffer as a result, of arising from or relating to your use of or reliance on this document.

In Singapore, this document is distributed by HSBC Bank (Singapore) Limited (“HBSP”) pursuant to Regulation 32C of the Financial Advisers Regulations, to its customers for general reference only. HBSP accepts legal responsibility for the contents of this document, and may be contacted in respect of any matters arising from, or in connection with, this document. Please refer to HBSP’s website at www.hsbc.com.sg for its contact details.

In Taiwan, this document is distributed by HSBC Bank (Taiwan) Limited, [13F/14F No 333, section 1 Keelong Rd, Taipei] to its customers for general reference only. HSBC Bank (Taiwan) Limited is not responsible for any loss, damage or other consequences of any kind that you may incur or suffer as a result of, arising from or relating to your use or reliance of this document. Clients of HSBC Bank (Taiwan) Limited should contact their relationship manager in respect of any matters arising from or in connection with this document.

United Arab Emirates

In the UAE, this document is distributed by HSBC Bank Middle East Limited (“HBME”) U.A.E Branch, P.O.Box 66, Dubai, U.A.E, wh ich is regulated by the Central Bank of the U.A.E and lead regulated by the Dubai Financial Services Authority. HBME is not responsible for any loss, damage or other consequences of any kind that you may incur or suffer as a result of, arising from or relating to your use of or reliance on this document.

Miscellaneous

Notwithstanding this document is not investment advice, please be aware of the following for the sake of completeness. Past performance is not an indication of future performance. The value of any investment or income may go down as well as up and you may not get back the full amount invested. When an investment is denominated in a currency other than the local currency of an investor, changes in the exchange rates may have an adverse effect on the value, price or income of that investment. Where there is no recognised market for an investment, it may be difficult for an investor to sell the investment or to obtain reliable information about its value or the extent of the risk associated with it.

This document contains forward-looking statements which are, by their nature, subject to significant risks and uncertainties. Such statements are projections, do not represent any one investment and are used for illustration purpose only. Customers are reminded that there can be no assurance that economic conditions described herein will remain in the future. Actual results may differ materially from the forecasts/estimates. No assurance is given that those expectations reflected in those forward-looking statements will prove to have been correct or come to fruition, and you are cautioned not to place undue reliance on such statements. No obligation is undertaken to publicly update or revise any forward-looking statements contained in this document or any other related document whether as a result of new information, future events or otherwise.

The Hongkong and Shanghai Banking Corporation Limited, its affiliates and associates and their respective officers and/or employees, may have interests in any products referred to in this document by acting in various roles including as distributor, holder of principal positions, adviser or lender. The Hongkong and Shanghai Banking Corporation Limited, its affiliates and associates, and their respective officers and employees, may receive fees, brokerage or commissions for acting in those capacities. In addition, The Hongkong and Shanghai Banking Corporation Limited, its affiliates and associates, and their respective officers and/or employees, may buy or sell products as principal or agent and may effect transactions which are not consistent with the information set out in this document.

© Copyright 2024. The Hongkong and Shanghai Banking Corporation Limited, ALL RIGHTS RESERVED. No part of this document may be reproduced, stored in a retrieval system, or transmitted, on any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of The Hongkong and Shanghai Banking Corporation Limited.

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These are the 4 best family travel insurance plans

Find coverage that fits your family's travel plans with these four companies..

thumbnail

Family vacations are a special time, and ensuring they go smoothly is essential to making memories that will last forever. Travel insurance is one way to ensure that any bumps in the road can be smoothed over, from a lost bag to an injury abroad.

CNBC Select reviews the best travel insurance plans for families based on coverage, cost and plan variety. (See our methodology for more information on how we choose the best family travel insurance companies.)

Best family travel insurance  

  • Best for families with young children : Allianz   
  • Best for affordability : Faye   
  • Best for CFAR coverage : Travel Insured International  
  • Best for cruises : Berkshire Hathaway Travel Protection  

Best for families with young children 

Allianz travel insurance.

The best way to estimate your costs is to request a quote

Policy highlights

10 travel insurance plans make it possible to customize your coverage. For families, Allianz's OneTrip Prime package covers children age 17 and younger when traveling with a parent or grandparent.

24/7 assistance available

  • Trip cancellation benefits can reimburse your prepaid, nonrefundable trip payments if you have to cancel your trip for one of the covered reasons stated in your plan documents. 
  • Limited coverage for risky sports

Who's this for? Allianz is great for families with young children as its OneTrip Prime travel insurance policy offers free coverage for children ages 17 or under when traveling with a parent or grandparent. Though this benefit isn't available to Pennsylvania residents, it could help families with younger children lower the cost of their travel insurance coverage.  

Standout benefits:  Allianz's cancel for any reason (CFAR) coverage has an enhanced version available that can cover up to 80% of trip expenses if you have to cancel for a reason that's not covered.  

[ Jump to more details ]  

Best for affordability 

Faye travel insurance.

Faye offers travel insurance with a convenient online buying experience and an app with real-time travel alerts. It's one simple plan includes coverage for common issues, like trip cancellation, emergency medical expenses and trip delay coverage. It also offers coverage for pre-existing medical conditions when plans are purchased within 14 days of an initial trip deposit.

  • Covers Covid like any other medical condition
  • CFAR is available for up to 75% of trip costs for an additional cost.
  • Additional coverage options like vacation rental damage coverage and pet care coverage.
  • Not all benefits are available in all states.

Who's this for?  Faye travel insurance stands out for families on a budget. Its policies start at just $4.64 per day (for 14 days) for domestic trips and $5.16 per day (for 14 days) for international trips. It's also great for those who want a completely digital experience and would rather manage a policy through an app than an agent or by phone.

Standout benefits:  Faye's intuitive interface makes it easy to get travel insurance coverage on your own time, and quotes are available entirely online. On top of the standard trip delay, cancellation and interruption coverage, you can purchase CFAR coverage, coverage for adventure and sports activities and a pet care add-on, which can cover illness or injury for your pet when traveling with you, or extra kenneling costs if your trip is delayed if you leave your pet at home.  

Best for CFAR coverage 

Travel insured international travel insurance.

Travel Insured International has two simple travel insurance plans — the Worldwide Trip Protector and Worldwide Trip Protector Gold. Its plans are affordable and offer the option of cancel for any reason (CFAR) coverage.

  • Optional CFAR coverage and interruption for any reason coverage
  • Medical coverage can be lower than other options

Who's this for?  Travel Insured International could be a great fit for families looking for the flexibility of a CFAR addition to ensure they'll be covered for any reason they need to cancel. The company's wide variety of reasons for cancellation includes coverage for school year extensions with all plans.  

Standout benefits:  Travel Insured International's Worldwide Trip Protector can cover all children 17 and under for free when traveling with related adults.  

Best for cruises  

Berkshire hathaway travel protection.

Berkshire Hathaway Travel Protection has multiple plans to cover vacations from luxury travel to adventure travel. The brand's LuxuryCare offers the highest limits of travel insurance coverage offered by the company. Quotes and policies are available online.

  • Wide variety of policies available
  • Strong financial strength rating by AM Best
  • Cancel for any reason only provides reimbursement for up to 50% of non-refundable trip payments

Who's this for?  Berkshire Hathaway Travel Protection offers cruise-specific packages for families setting sail on a cruise.  

Standout benefits:  Cruise plans include coverage for missed connections and unique challenges you could face on a cruise vacation, like cruise disablement and diversion. 

More on our top family travel insurance companies 

Allianz offers 10 different travel insurance policies for travelers and trips of all types, including single-trip and multi-trip coverage. It also offers quotes and claims online, making the experience simple.  

CFAR coverage available?  

Yes, up to 80% of prepaid, non-refundable trip costs 

24/7 assistance?  

[ Return to summary ]  

While relatively new to the space, Faye's travel insurance plans combine affordability and easy access. Policies are backed by the United States Fire Insurance Company.  

Yes, up to 75% of prepaid, non-refundable trip costs 

Travel Insured International 

Travel Insured International has been offering travel insurance for over 25 years. It has two tiers of coverage (available in most states) that can help you meet all your travel protection needs.  

Berkshire Hathaway Travel Protection 

Berkshire Hathaway Travel Protection offers several tiers of travel protection and insurance, including packages specifically designed for road trips and cruises. Its strong A++ financial strength rating also helps it stand out against the competition.  

Up to 50%, only available on LuxuryCare packages 

Does travel insurance cover family members?  

Generally, you can insure your whole family on one travel insurance plan, so you won't have to buy separate plans for every traveler. Your travel insurance plan will cover every person listed on the policy.  

Does travel insurance cover cancellation due to a death in the family? 

In many cases, travel insurance can help you recoup the cost of your vacation if you have to cancel due to a death in your family. However, you'll want to carefully read your policy's definition of a family member, as not everyone in your life could be included.  

Bottom line

A family vacation can be a big investment, so it's important to protect yourself in case anything goes awry. Having a travel insurance plan that's easy to access, provides 24/7 support and fits your specific travel concerns and budget can help ensure your trip will go smoothly.

Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox.  Sign up here .

Why trust CNBC Select? 

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every travel insurance review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of travel insurance products. To research the best travel insurance companies, we compiled over 100 data points on more than a dozen travel insurance companies. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best travel insurance companies. 

Our methodology  

To determine the best travel insurance companies, CNBC Select analyzed dozens of travel insurance companies and compared them based on various factors. 

While narrowing down the best travel insurance companies, we focused on the number of plans available, the availability of 24/7 assistance to access while traveling, coverage for Covid-19, the availability of cancel for any reason coverage, and financial strength (which measures a company's ability to pay on contracts) using A.M. Best ratings. We also considered family-friendly features, such as the inclusion of children on policies for free with parent's coverage, and reasons for cancellation, including school year extension as a reason for cancellation.  

Note that the premiums and policy structures advertised for travel insurance companies are subject to fluctuate in accordance with the company's policies.  

Catch up on CNBC Select's in-depth coverage of credit cards , banking and money , and follow us on TikTok , Facebook , Instagram and Twitter to stay up to date.  

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Money blog: This is how much state pension will be worth by 2030 - as both parties commit to triple lock

The UK state pension could be worth more than £13,200 per year by 2030. Read this, the latest consumer news and build-up to Wednesday's budget below - and use the form to tell us what you'd do if you were chancellor, submit a Money Problem or comment on anything we're covering.

Monday 4 March 2024 18:06, UK

  • UK state pension could be worth over £13,000 a year by 2030
  • National insurance speculation and tempering expectations: What we learned about the budget over weekend
  • If I was chancellor : Former BoE economist reveals what he'd do on Wednesday | Centre-right thinktank shares its view
  • Britons enjoying cheaper holidays as pound strengthens - except in these four countries
  • Money Problem : My neighbour denies they own the fence between us - but the post is attached to their house

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Some "budget-friendly" insurance policies would not leave motorists covered for common claims such as a cracked windscreen, consumer champion Which? has warned.

Higher premiums have led drivers to turn to cheaper policies, but the small print should be thoroughly checked, the consumer champion said.

It looked at the cover of more than 60 policies offered by 28 insurers, including some basic products - finding some did not have cover for glass damage.

This would leave motorists with a potentially substantial bill despite it being a relatively standard claim. 

Rocio Concha, Which? director of policy and advocacy, said: "You can't be on the road legally unless you have car insurance, but with premiums at eye-watering levels, many motorists are being pushed towards stripped-back policies.

"Concerningly, our research shows that some basic policies lack cover for common claims, meaning that a cracked windscreen could leave some drivers facing hefty repair bills they'd assumed the insurance would cover."

Mortgage experts have criticised major lenders for withdrawing rates with little notice - on the back of announcements by Barclays and NatWest.

Over recent weeks we've seen lenders raising rates - and sometimes lowering them - with great frequency as the market responds to higher swap rates (these dictate how much it costs to lend money).

Today, NatWest announced increases of between 0.05% and 0.1% as of tomorrow - but applications for current deals are accepted only until 10.30pm tonight.

Meanwhile, Barclays has told brokers that it is "making a number of changes across our residential purchase and remortgage range and our buy to let range... These changes consist of increases and decreases".

Charles Breen, founder of Montgomery Financial, told Newspage: "Lenders are flouting consumer duty rules. 

"Rate changes with little, if any notice are fuelling financial fear in mortgage holders across Britain. These lightning-strike announcements are leaving both brokers and consumers reeling.

"How can any broker have certainty in their advice with rates liable to change with mere hours' notice? This is more evidence of consumer duty denied for the ordinary borrower."

Gary Bush, financial adviser at MortgageShop.com, added: "A disaster is all you can call all the rate movement from top UK lenders in the past week. 

"How lenders can show resistance to a decent industry 48-hours' notice period on mortgage rate changes, quoting it would affect profitability, and then the same lenders all recently announcing huge profits, is head wobbling."

A Barclays spokesperson said: "We’re continuing to see a fluctuating economic environment which has meant we've had to make some changes to our mortgage range.

"In line with Barclays normal launch timelines, we have communicated our planned amendments to the range and, provided our broker partners meet our specified qualification criteria, they have nine days to complete the application on the withdrawn product."

NatWest has been contacted for comment.

Hundreds of thousands of pensioners have been urged to check if they are eligible for an extra £299 cost of living payment that expires tomorrow.

The payment is eligible to people claiming pension credit - but only if they apply by Tuesday.

About 1.4 million people are already receiving pension credit, but an estimated 880,000 eligible households are yet to claim it.

It averages more than £3,900 a year and is intended to help low-income people who have reached state pension age.

Minister for pensions Paul Maynard said: "Anyone who is unsure whether they or a loved one is entitled to pension credit should quickly check using our online pension credit calculator - it's never been easier.

"Not only could this secure an extra £3,900 every year and unlock a whole host of other support, if successfully claimed by 5 March a further £299 Cost of Living boost is up for grabs."

It is also worth noting that if you or someone you live with is over 74 and receive Pension Credit you can apply for a free TV licence.

The UK state pension could be worth more than £13,200 per year by 2030 if the triple lock remains in place, new analysis reveals.

But while the policy is popular, it "remains entirely aimless" with no long-term strategy in place, says AJ Bell's director of public policy Tom Selby.

At the moment, people entitled to a state pension will receive up to £11,502 a year. The triple lock commits to increasing the benefit by the highest of average earnings growth, inflation or 2.5%.

Analysis by the investment platform reveals this figure could rise to £13,236 if the pension is increased by the Bank of England's projected inflation and earnings growth figures.

Mr Selby says retirees will "no doubt be rejoicing that both major parties appear set to recommit to the state pension triple lock for the next Parliament".

With older votes "critical", it's "no surprise" that the Conservatives and Labour are taking a "safety-first" approach to the policy, he said.

But he added: "While the policy is understandably popular, it remains entirely aimless, with neither major party clearly stating how much they believe the state pension should be worth. 

"As the real value of the state pension rises as a result of the triple lock, it also increases the likelihood of planned state pension age hikes being accelerated to balance the books, creating both uncertainty and the potential for intergenerational unfairness."

Mr Selby has urged the next government to set a "clear plan" for the state pension and carry out a review of how increases are applied "in light of the dramatic fluctuations in both inflation and earnings we have seen since the pandemic".

"For this necessary reform to happen, politicians will need to show bravery and step beyond the current 'will they? won't they?' debate over the triple lock," he said.

Ahead of the budget on Wednesday, we've asked a selection of economists or experts what they'd do if they were chancellor. Here, Emma Revell, external affairs director at the Centre for Policy Studies, shares her thoughts. She writes...

Abolishing stamp duty on shares would be a win-win for the chancellor's budget on Wednesday. 

New analysis from the Centre for Policy Studies, based on modelling from Oxera, has found that ditching the 0.5% tax on a range of share purchases could lead to a permanent increase in GDP by between 0.2-0.7% in the long-run and boost pension pots, with the representative DC pension fund increasing by over £6,000. 

An immediate benefit could also be a one-off increase of 4.0% in UK equity valuations, representing a £99.8bn capital gain.

The UK is an international outlier, with the city hampered by a tax which most of its international competitors do not face. 

Since 2008, Britain has become a low-investment economy, fuelling a long period of stagnant growth, with a chief cause being our lack of investment compared with our rivals.

By repealing a tax which depresses investment in the stock market, the chancellor could begin to reverse this trend.

The government's stated aims include increasing business investment, improving the competitiveness of the City, and increasing economic growth. 

Abolishing stamp duty on shares would do all three - with the added benefits of boosting the nation's pension pots and increasing share ownership.

We'll be teaming up with the Politics Hub team to bring you live coverage of the budget before, during and after Jeremy Hunt stands up. The budget itself starts at 12.30pm - and we'll have a live Q&A on what it means for you from 3.30pm.

British holidaymakers are now benefitting from an increase in the value of sterling compared with the values of swathes of foreign currencies.

Data from Post Office Travel Money shows the pound has strengthened compared with a year ago against 21 out of 25 select currencies.

The value of the pound has risen against the euro (up 3.8%) and US dollar (up 5.5%), travellers can also benefit from much larger boosts when exchanging pounds for visits to Turkey (up 72.9%), Kenya (up 20.9%), Japan (up 15.7%) and the Czech Republic (up 12.7%).

The only four currencies analysed which sterling has weakened against are the Polish zloty (down 4.3%), Costa Rican colon (down 2.7%), Swiss franc (down 1.4%) and Mexican peso (down 0.8%).

"Sterling's current buoyancy against most leading holiday currencies - including the euro and US dollar - provides a great incentive for Britons considering trips abroad in the coming months," Laura Plunkett, head of travel money at Post Office, said.

"Most currencies have weakened against the pound in the past year, and many of these are for destinations that traditionally offer the cheapest prices for meals, drinks and other tourist staples."

Apple has been fined €1.8bn (£1.54bn) by the EU for favouring its own music streaming service rather than rivals.

Apple didn't fully inform their device users there were alternative and cheaper subscription services, said the EU executive, the European Commission.

As a result, iPhone and iPad users paid "significantly higher prices for music streaming subscriptions", it said.

The fine has been issued due to a complaint by streaming service Spotify.

The world's largest maker of bulk chocolate expects cocoa shortages to continue into next season.

Barry Callebaut AG, which claims to source every fifth cocoa bean grown worldwide, supplies some of the planet's biggest chocolate brands.

Its North America cocoa vice president Hugo van der Goes expects production to fall short of consumption by 500,000 metric tons in the season that started in October.

This is partly down to farmers in West Africa lacking the desire to expand, he says, as well as poor weather and disease affecting trees. 

Another deficit of 150,000 tons is expected the following season.

"Farmers in Ivory Coast and Ghana (which grow some 60% of the world's cocoa beans between them) don't see the incentive today to grow more," Mr van der Goes said at the International Sweetener Colloquium last week. 

"For now we don't see any recovery in the supply."

Prices of cocoa are hitting near-historic highs - with analysts suggesting it could rise to as high as $7,000 per metric ton in coming months. 

Both Hershey's and Cadbury's have warned of price rises and product sizes in recent weeks.

Ahead of the budget on Wednesday, we've asked a selection of economists or experts what they'd do if they were chancellor. We kick off with Carsten Jung, senior economist at the Institute for Public Policy Research's Centre for Economic Justice (and former Bank of England economist). He writes...

If I were chancellor, I would immediately reverse plans to cut public service spending by about £20bn after the election. 

We can already see the risks of this: local authorities across the country are at the brink of bankruptcy, and public investment in future growth is falling fast. 

More tax cuts now would only add fuel to this fire. This is not what fiscal responsibility looks like. The eminent International Monetary Fund (IMF) has recently criticised the UK for this, suggesting that hollowing out public services in this way poses a risk to economic stability. The public too is against more cuts.

Instead, to ensure our future prosperity, we need to make both spending and taxation smarter. Public spending requires a pivot to prevention - eg boosting early years support for children or relieving pressure on the NHS by investing in primary and community care. This will deliver better outcomes and raise public sector productivity.

Making the tax system smarter should start with closing loopholes, such as those on carried interest for private equity. Next, taxing employment more heavily than investment – as we currently do – makes no economic sense. Rectifying this could free up billions for supporting public services, boosting our anaemic growth.

The Confederation of British Industry (CBI) has urged Jeremy Hunt to scrap what it calls a mileage allowance "stealth tax" in Wednesday's budget.

The approved mileage allowance payments (AMAP) scheme means companies can pay back employees for using their vehicles for business reasons - but the 45p per mile rate for cars and vans has not been updated since 2011.

The CBI said the rates are "outdated" and urged Mr Hunt to increase them "to show he is on the side of motorists and working people".

Theft against convenience stores in the UK has risen fivefold in the past year, according to a new report from the Association of Convenience Stores.

ACS's latest figures show there were 5.6 million incidents in 2023 - equating to 600 every hour.

The report also revealed an increase in cases of violence against staff, with 76,000 incidents recorded last year.

Tube and bus fares on the Transport for London network are frozen from today .

The freeze, which is in place until March next year, has been paid for through £123m of Greater London Authority funding.

Announcing the move in January, mayor Sadiq Khan said Londoners could potentially save up to £90 per year as a result.

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  • Today’s best savings rates

Where are savings rates heading next?

Benefits of opening a high-yield savings account today, what to look for in a savings account, methodology, today’s best savings rates, feb. 28, 2024: score up to 5.35% apy with these savings accounts.

By opening a high-yield savings account now, you can maximize your interest earnings before rates drop.

Liliana Hall

Liliana Hall

Liliana Hall is an editor for CNET Money covering banking, credit cards and mortgages. Previously, she wrote about personal credit for Bankrate and CreditCards.com. She is passionate about providing accessible content to enhance financial literacy. She graduated from the University of Texas at Austin with a bachelor's degree in journalism, and has worked in the newsrooms of KUT and the Austin Chronicle. When not working, she is probably paddle boarding, hopping on a flight or reading for her book club.

Kelly Ernst

Kelly is an editor for CNET Money focusing on banking. She has over 10 years of experience in personal finance and previously wrote for CBS MoneyWatch covering banking, investing, insurance and home equity products. She is passionate about arming consumers with the tools they need to take control of their financial lives. In her free time, she enjoys binging podcasts, scouring thrift stores for unique home décor and spoiling the heck out of her dogs.

CNET staff -- not advertisers, partners or business interests -- determine how we review the products and services we cover. If you buy through our links, we may get paid.

If you’re looking for a low-risk way to grow your savings, a high-yield savings account is worth considering. High-yield savings accounts typically have higher annual percentage yields, or APYs, than traditional savings or checking accounts -- which can yield a bigger return. 

A pattern of 100 American dollar bills on a yellow background with hard light. Background from banknotes

“Many consumers let their savings sit in checking accounts earning next to zero interest, where your money is losing value due to inflation,” said Ben McLaughlin , chief marketing officer and president of digital savings marketplace Raisin. “It’s not as bad as stuffing it under your mattress, but your cash won’t be working as hard as it can for you.”

The best high-yield savings accounts earn APYs as high as 5.35% -- more than 10 times the national average of 0.46%. The national average for interest-bearing checking accounts is even lower at 0.07%. But rates this high aren’t expected to last forever, so now’s the time to maximize your interest earnings before rates fall later this year.

Read on to learn more about today’s top savings rates.

Key takeaways

  • Top savings account rates are still as high as 5.35% APY. 
  • A high-yield savings account can be a great place to store your emergency fund or money you haven’t earmarked yet. 
  • Savings rates remain high, but experts expect them to fall later this year when the Fed begins cutting rates.

Experts recommend comparing rates before opening a savings account to get the best APY possible. You can enter your information below to see CNET’s partners’ rates in your area.

Today’s best savings rates

Here are some of the top savings account APYs available right now:

Savings rates have been trending upward ever since the Federal Reserve began increasing its benchmark federal funds rate in March 2022 to tame record inflation. When the Fed raises the benchmark rate, banks tend to raise rates on consumer products like savings accounts and CDs to remain competitive.

But since July 2023, the federal funds rate has remained at a range between 5.25% and 5.50%, indicating to experts that savings rates are likely at their peak.

Still, experts believe that savings rates will remain elevated until the Fed begins dropping rates, with signals that rate cuts are possible later this year . 

Here’s where rates stand compared to last week:

The average APY for the top high-yield savings accounts we track at CNET is 4.89% -- with some accounts offering as high as 5.35%. We haven’t seen any significant changes in weeks, and the only individual change we’ve seen recently was Upgrade Premier’s high-yield savings account, which increased its rate from 5.07% to 5.21% yesterday.

Since savings rates are variable -- meaning they move in lockstep with the federal funds rate -- your APY is likely to go down in the coming months. Once the Fed drops rates, banks will eventually follow suit. So the sooner you open a high-yield savings account, the longer you can enjoy a high rate.

Where you keep your money matters. And stashing it in a high-yield savings account is a low-risk way to grow your savings while taking advantage of the power of compound interest . With a savings account that earns compound interest, you earn interest on the initial deposit and the interest that accumulates over time -- in other words, interest on interest.

But there’s more to high-yield savings accounts than just the APY. Here’s what makes HYSAs stand out:

  • High rates: HYSAs often have APYs 10 times higher (or more) than the national FDIC average.
  • Low or no fees: Monthly maintenance fees can eat into your savings. Many online banks can charge low or no fees thanks to their lower operating costs.
  • Liquidity: You can access money in your HYSA anytime without penalty (as long as you mind any withdrawal limits). CDs, another popular savings product, charge a penalty if you take out funds before the term is up.
  • Accessibility: If you open an HYSA at an online bank, you’ll enjoy 24/7 account access through its mobile app. You may also have lots of customer service options, including by phone, online chat and secure messaging.
  • Low risk: HYSAs are protected by federal deposit insurance if they’re held at an FDIC-insured bank or NCUA-insured credit union. That means your money is safe up to $250,000 per account holder, per account type.

If you’re earning less than 1% with your current savings account -- some big banks offer as little as 0.01% APY -- you don’t have to close your existing account to enjoy higher rates. You can open a new account from an online bank in minutes and set up recurring transfers or direct deposits to start funding it.

 High-yield savings accounts usually have higher APYs than traditional savings accounts. And even after rates fall this year, high-yield savings accounts will continue to offer significantly better APYs than traditional ones. But you should consider more than just the APY before opening a HYSA. 

Keep these factors in mind when comparing savings accounts: 

  • Minimum deposit requirements: Some HYSAs require a minimum amount to open an account -- typically, from $25 to $100. Others don’t require anything. How much you have to deposit initially can help you narrow down your options.
  • Fees: Monthly maintenance and other fees can eat into your balance. Avoid unnecessary charges by looking for a bank with low or no fees.
  • Accessibility: If in-person banking is important to you, look for a bank with physical branches. If you’re comfortable managing your money digitally, look for an online bank with a user-friendly app with all the features you need.
  • Withdrawal limits: Some banks charge an excess withdrawal fee if you make more than six monthly withdrawals. If you think you may need to make more, consider a bank without this limit.
  • Federal deposit insurance: Look for a bank that belongs to the Federal Deposit Insurance Corporation or a credit union that belongs to the National Credit Union Administration. Accounts at these institutions are protected up to $250,000 per account holder, per category in the event of bank failure
  • Customer service: You want a bank that’s responsive and offers convenient support options if you ever need assistance with your account. Read online customer reviews to see what current customers say about their experiences. You can also contact customer service to get a feel for what it would be like to work with the bank.

CNET reviewed savings accounts at more than 50 traditional and online banks, credit unions and financial institutions with nationwide services. Each account received a score between one (lowest) and five (highest). The savings accounts listed here are all insured up to $250,000 per person, per account category, per institution, by the Federal Deposit Insurance Corporation or National Credit Union Administration.

CNET evaluates the best savings accounts with a set of established criteria that compares annual percentage yields, monthly fees, minimum deposits or balances and access to physical branches. None of the banks on our list charge monthly maintenance fees. An account will rank higher for offering any of the following perks:

  • Account bonuses
  • Automated savings features
  • Wealth management consulting/coaching services
  • Cash deposits
  • Extensive ATM networks and/or ATM rebates for out-of-network ATM use

An account will rank lower if it doesn’t have a professional-looking website or doesn’t provide an ATM card, or if it imposes restrictive residency requirements or fees for exceeding monthly transaction limits.

Recommended Articles

Best high-yield savings accounts for february 2024, yes, compound interest is magic. watch me double my savings in one year, 7 mint alternatives when the budgeting app goes away this year, 6 reasons why you should own multiple savings accounts.

CNET editors independently choose every product and service we cover. Though we can’t review every available financial company or offer, we strive to make comprehensive, rigorous comparisons in order to highlight the best of them. For many of these products and services, we earn a commission. The compensation we receive may impact how products and links appear on our site.

Writers and editors and produce editorial content with the objective to provide accurate and unbiased information. A separate team is responsible for placing paid links and advertisements, creating a firewall between our affiliate partners and our editorial team. Our editorial team does not receive direct compensation from advertisers.

CNET Money is an advertising-supported publisher and comparison service. We’re compensated in exchange for placement of sponsored products and services, or when you click on certain links posted on our site. Therefore, this compensation may impact where and in what order affiliate links appear within advertising units. While we strive to provide a wide range of products and services, CNET Money does not include information about every financial or credit product or service.

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  22. HSBC holiday insurance warning

    HSBC holiday insurance warning. My husband and I have banked with HSBC for 35 years and have been Premier account holders for a number of years. One of the perks of this is free holiday insurance. Five years ago my husband developed angina, and we notified HSBC travel insurance, who then sent a letter stating that he would not be covered for ...

  23. How To Find The Best Travel Insurance For Your Spring 2024 Trip

    "We're seeing a higher volume of travel with top international destinations including Europe—specifically Greece, Italy, U.K., France, Spain and Portugal, as well as Mexico, the Caribbean, Japan ...

  24. Car Insurance Quotes

    Choose the way you want to get a car insurance quote. Feel free to start online right now by entering your ZIP code above.* Or if you'd rather talk about your options with someone, give us a call (866.218.0397) and get an auto quote from one of our qualified representatives. If you have more insurance needs, connect with a Travelers independent agent to discuss how you could bundle and save.

  25. FX Viewpoint

    3. HSBC has procedures in place to identify and manage any potential conflicts of interest that arise in connection with its Research business. HSBC's analysts and its other staff who are involved in the preparation and dissemination of Research operate and have a management reporting line independent of HSBC's Investment Banking business.

  26. 4 Best Family Travel Insurance Plans of 2024

    Who's this for? Faye travel insurance stands out for families on a budget. Its policies start at just $4.64 per day (for 14 days) for domestic trips and $5.16 per day (for 14 days) for ...

  27. Ask a question or make a comment

    The UK state pension could be worth more than £13,200 per year by 2030. Read this, the latest consumer news and build-up to Wednesday's budget below - and use the form to tell us what you'd do if ...

  28. Today's Best Savings Rates, Feb. 28, 2024: Score Up to 5.35% ...

    If you're earning less than 1% with your current savings account -- some big banks offer as little as 0.01% APY -- you don't have to close your existing account to enjoy higher rates.