I have used the account available at HSBC Singapore which has a slightly different name, but essentially same idea, and it works very well. I have only just opened the one you're referring to at HSBC London, and haven't yet got round to using it, as the physical card hasn't yet turned up (I live in TH), so my info on it may not be totally correct. However, as I see it the London a/c, from my perspective, has the advantage (over the Sin version) of offering a wider range of currencies. But, there does seem to be a major negative in that if you want to pay-in to the Lon a/c, I think you can only do it by changing GBP into your desired currency on the app itself and this entails using the HSBC exchange rate, which is approx 3% worse than the wholesale rate. I tried paying to pay CHF from a third party into the (Lon) account but was unable to do so; I haven'y yet tried with other currencies but will do soon. With my Sin a/c, I can pay-in currencies other than SGD, which I have typically bought via Wise, whose rate turns out to be only approx 0.5% worse than wholesale. So I save 2.5%. As most credit card companies also charge about 3% (in the form of the exchange rate, an actual charge, or a combination of the two) I see little if any advantage of using the Lon a/c, rather than credit cards; their claim of no charges is very misleading.