HSBC International Money Transfers Review

Information verified correct on December 6th, 2016

Enjoy an extensive range of financial services and transfer money worldwide with HSBC international money transfers.

HSBC Bank operates in Australia and provides a wide range of financial services and products to its customers. The key financial services offered by HSBC Bank include financial planning, payment and cash management services, securities custody and treasury. With a network of over 36 branches across Australia, HSBC offers quality financial services and practical money transfer solutions. If you need to transfer money overseas, HSBC can help you easily transfer money internationally when on business trips and vacation overseas, or when wiring money to family or friends in other countries.

Rates last updated December 6th, 2016
Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
HSBC Multi Currency Account
A multi-currency bank account with ... up to 10 currencies in one account.
AUD 0 3 - 5 days
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HSBC international money transfers give you a secure and convenient way to transfer money to any bank account within Australia or overseas using internet banking services. With HSBC internet banking, you can manage your account, update passwords and personal details and set up transfers or pay bills no matter where you are. You will also get access to all major currencies and save money on international transfers with HSBC competitive transfer rates.

HSBC’s SWIFT code is HKBAAU2S.

HSBC foreign exchange rates

HSBC offers instant, fee-free money transfers with competitive exchange rates, with customers enjoying preferential foreign exchange rates in their HSBC bank accounts. With a multi-currency account, you can hold up to 10 foreign currencies in your account for more convenience while you are on the move.

CountryCurrencyCurrency Code(Bank Buys) IMT(Bank Buys) TT(Bank Buys) Travel Card(Bank Buys) Travel Chq(Bank Buys) Notes
CADCAD0.9866
CHFCHF0.7513
CNYCNY5.1084
EUREUR0.6826
FJDFJD1.6249
GBPGBP0.5365
HKDHKD6.1058
INRINR52.6235
JPYJPY83.7752
NZDNZD1.1207
PHPPHP37.2965
SGDSGD1.055
THBTHB27.6481
USDUSD0.7829
ZARZAR11.3234

*Rates are current as of  May 03, 2016.

How much does it cost to transfer money?

HSBC money transfers enable you to safely transfer funds to your friends or family overseas or back in Australia from more than 45 countries. The default amount you can send via internet banking is $25,000 at a fee of $25, though you can raise this limit and conduct a telegraphic transfer of up to $100,000. In addition, you can save $5 for each overseas transfer using the HSBC internet banking service.

Minimum transfer amount and available countries

HSBC gives you the capability to make online payments and transfer money to personal accounts using its internet banking service. You can transfer up to $500,000 daily between your HSBC personal accounts linked under your internet banking profile, while the limit for daily local and international transfers to other personal accounts is $50,000.

For business accounts, the daily default limit for transfers between HSBC accounts is $500,000, while transfers to third-party business accounts in Australia and across the globe have a daily limit of $25,000. Daily transfers via the BPAY service are limited to $25,000, though customers can adjust this limit by visiting their online profile.

The registration and transfer process

Having 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 which you can either obtain from HSBC branches or receive by mail if you register online. Here are the steps you need to follow to register for internet banking:

  • 1. Click on the registration link on the HSBC internet banking page.
  • 2. Enter your Personal Banking Number and Access Code.
  • 3. Set up your personalised username and password.
  • 4. An online security device will then be mailed to your address so you can activate your online service and transfer funds freely from your HSBC personal or business account.

Why choose HSBC international money transfer?

  • Secure money transfer. HSBC views your security as a top priority, ensuring that your details and funds are secure while making online transfers. Once you register for online banking, you receive a security device that boosts the safety of all your transactions, while the bank also offers you the best encryption available today to ensure your personal details are safe.
  • Wide coverage. HSBC offers you a convenient way to access your money all over the globe, with over 375 centres worldwide and more than 36 branches and offices within Australia. The bank has established a presence in more than 45 countries and territories, allowing you to access your money no matter where you are.
  • Mobile banking. This service allows you to transfer funds, make payments and manage your account from your mobile device, saving you time.

What other products and services does HSBC offer?

  • HSBC Business. This is a service designed to assist businesses that trade internationally to take advantage of opportunities overseas. HSBC provides a range of business accounts to help such organisations with banking solutions, plus it also provides working capital solutions to help international businesses manage their cash flow efficiently.
  • Financial planning. HSBC provides a range of financial planning services, offering you personalized strategies to help you secure your family’s financial future, manage your investment portfolios and help you prepare for retirement.
  • Financial assistance. HSBC provides financial assistance in loans and mortgages, with HSBC premier customers getting access to low-rate premier home loans.

What are the pros and cons of using HSBC?

Pros

  • Instant transfers. With HSBC internet banking, you can make instant, fee-free money transfers between your domestic HSBC and international accounts.
  • Multi-currency account. If you are a frequent traveller and are in constant need of different foreign currencies, you can benefit from the HSBC multi-currency account that allows you to hold up to 10 foreign currencies.
  • Global safety net services. Your children or family abroad can get emergency access to your HSBC premier account, up to $2,000 in emergency cash or next-day card replacement services, should they lose or misplace their credit cards.

Cons

  • Limits and charges. There is a default limit on how much you can transfer internationally. Money transfer charges also apply.

Frequently asked questions

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 any incoming money transfers to your Australian HSBC account from international bank accounts.

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