ABOUT

THE BRIEF
HSBC UK is famously International, harking back to the halcyon days of ‘The World’s Local Bank’. Yet, whilst everyone knows HSBC UK is International, most people weren’t sure why it was relevant to their everyday banking needs, HSBC UK’s customers included.

The impact of a lack of international relevance was evident across the bank’s international products. HSBC UK's customers were increasingly opening accounts with neo-banks (like Monzo, Revolut, Wise and Starling), for the sole purpose of sending and spending money abroad. A simple and cheap alternative to the perceived unreliable and expensive HSBC UK.

To reclaim its rightful share of the international market, HSBC UK launched Global Money – a multi-currency account that gives customers the ability to send and spend around the world without HSBC fees or minimum balances.

The task for communications was to make the launch of the Global Money Account unmissable, leading to account openings, and increasing awareness and consideration of HSBC’s international products.

THE CREATIVE IDEA
Hidden fees are a dirty word to those who travel. But with an HSBC Global Money Account, you can drop fees from Acapulco to Zurich. To bring this product benefit to life, Richard Ayoade uses his Global Money card in various travel locations around the world while dropping the f-word with every purchase he makes. Whether it’s paying for a giant pretzel in the Alps, finding a reflective trinket in Morocco, or getting a corduroy Jodhpuri tailored in India, Richard repeatedly demonstrates there are no beeping fees attached.

An orchestral version of Queen’s ‘I Want to Break Free’ accompanies him on his travels, helping to strengthen the message that customers can shake off their financial shackles with a Global Money account.

As part of HSBC’s commitment to achieving net zero in their operations by 2030, the entire campaign was shot in the UK, repurposing locations, and enhancing them with CGI.

CAMPAIGN RESULTS
The campaign made people feel effing great about the bank and the Global Money Account.

The hero TV spot is one of HSBC UK’s best-ever testing pieces of creative, performing significantly above Kantar’s norms for branding, enjoyment, involvement, and brand love. (Source: Kantar, Global Money Q1 ’23, Cross Media Report)

The creative cut-through in the market, with total brand communication awareness reaching its highest level in the past 4 years, despite almost half the spend of the previous quarter. (Source: Kantar Brand Tracking | Q3’19-Q2’23)

The campaign drove strong associations with international products, as HSBC UK leapt from 3rd in associations with ‘Foreign Exchange Services or Travel Money’ to 1st. (Source: Kantar, Q2 2023, Brand Health Tracking)

Finally, since the launch, over 350,000 customers have signed up for Global Money, and collectively, Global Money customers have saved £2.75m in fees.