Last updated:
With a network of over 140 branches across Canada, HSBC Bank Canada is one of the leading international bank in the country, helping companies and individuals to manage their funds internationally with global banking and market services. With around 7,200 offices in over 80 countries and territories, HSBC allows clients to seamlessly transfer funds between their eligible international HSBC deposit accounts.
HSBC Bank Canada foreign exchange rates are comparable with other banks in Canada. While exchange rates change frequently to keep pace with market fluctuations, as a Premier or Advance client, you can take advantage of HSBC’s Global Transfers service which entitles you to preferential exchange rates. The rates below are examples as of early 2018, so check more current rates before making decisions.
| Currency Code | (Bank Buys) IMT | (Bank Sells) IMT |
|---|---|---|
| AUD | 0.9610 | 1.0170 |
| CAD | 1.0176 | 0.9641 |
| CHF | 1.3377 | 1.3727 |
| CNY | 0.1922 | 0.2022 |
| EUR | 1.5216 | 1.6036 |
| GBP | 1.7186 | 1.8026 |
| HKD | 0.1576 | 0.1626 |
| INR | 0.0193 | 0.0198 |
| JPY | 0.0115 | 0.0120 |
| NZD | 0.8985 | 0.9485 |
| PHP | 0.0227 | 0.0252 |
| SGD | 0.9416 | 0.9666 |
| THB | 0.0390 | 0.0409 |
| SEK | 0.1521 | 0.1621 |
| USD | 1.2265 | 1.2777 |
Rates updated as of 15 February 2018 (subject to change). You can visit HSBC directly by clicking “Go to Site” on the interactive transfer comparison table at the top of the page.
When it comes to completing international money transfers with HSBC Bank Canada, there are two types of privileged memberships.
Holding one of these memberships can help to significantly reduce fees for international money transfers.
HSBC Bank Canada enables Premier and Advance account holders to seamlessly send money overseas by transferring funds between their eligible personal HSBC accounts, both in-branch and online. Outgoing fees are based on account membership (ie. Premier, Advance or Other) and vary according to amounts being transferred. For example, if you send <$10,000 overseas, the outgoing fees will fluctuate in accordance with the table below.
| Transaction Type | HSBC Premier | HSBC Advance | Other Personal Accounts |
|---|---|---|---|
| In-Branch | $30 | $40 | $45 |
| Personal Internet Banking | $15 | $30 | $40 |
Fees for other eligible amounts and services to domestic or international financial institutions are outlined on the company website.
HSBC Bank Canada Premier and Advance customers can conveniently transfer funds between eligible personal HSBC accounts in over 30 countries. For these accounts, HSBC Bank Canada operates two platforms – Global View and Global Transfers – to make viewing, managing and transferring money between personal HSBC accounts worldwide incredibly simple. Minimum transfer amount is $10 while max transfer amount is $150,000.
Obtaining access to HSBC international money transfer services requires that you register for online Internet banking with a Personal Banking Number, an Access Code and an online security device (a small device protected by a PIN code) which can be obtained from an HSBC Bank Canada branch or received by mail if you register online. Here are the steps you need to follow to register for Internet banking:
To send a domestic or international transfer, you’ll need to know the recipient’s banking information, including the recipient’s full name, address and bank account number. You will also need the recipient’s bank ABA Routing Number or SWIFT Number and the bank’s name and full address.
Immediate transfers cannot be cancelled, although scheduled transfers can be cancelled up to a day before the request is implemented. You can schedule transfers for up to 18 months in advance.
You are required to use this code on outgoing transfers and on any incoming money transfers to your Canadian HSBC account from international bank accounts.
With 240,000+ locations in 130 countries, Ria is the third-largest provider of international money transfers in the world. It offers great exchange rates, minimal fees and fast, secure transactions when you need to send funds overseas. Read more…
Learn about how COVID-19 may affect the ways you transfer cash around the world. Read more…
Learn about the pros and cons of using PayPal to convert your online seller profits into Canadian dollars in this detailed review. Read more…
