HSBC International Money Transfers Review

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 November 23rd, 2017

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HSBC Multi Currency Account
A multi-currency bank account with ... A multi-currency bank account with up to 10 currencies in one account.
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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26 Responses

  1. Default Gravatar
    kennethJuly 6, 2016

    What is the possibility to transfer Iranian Rial to a designated HSBC US Dollar account ???

    • Staff
      ClarizzaJuly 7, 2016Staff

      Hi Kenneth,

      Thanks for your question. As you may be aware, there are currently sanctions in place between the U.S and Iran that may restrict international banks from dealing in the Iranian market.

      It’s best to check with your bank first and find out what you can do to send money to the U.S. It should be noted, we are a comparison website and as such provide general advice only.

      Hope this helps.

      Clarizza

  2. Default Gravatar
    DaisyJune 25, 2016

    If I want to transfer money from HSBC melbourne to HSBC Hong Kong. However, I don’t have an HSBC account. Can I go to the branch with cash and ask them to put it into an HSBC Hong Kong account? How much fee would be applied?
    Thank You!

    • Staff
      ClarizzaJune 28, 2016Staff

      Hi Daisy,

      Thanks for your question.

      You can certainly transfer money to HSBC Hong Kong, however you would need to open an account.

      Online transfers will incur a $20 fee while bank transfers will incur a $25 fee. Please note, there may be a limit to the amount you transfer so it’s best to check this with HSBC.

      You can also send money through an international money transfer – our page might help you compare services or you can contact an FX expert on the form at the bottom of that page.

      Hope this helps.

      Clarizza

  3. Default Gravatar
    MarcusMay 11, 2016

    Can I send TT from my HSBC HK a/c to CB bank in Myanmar?

    • Staff
      ShirleyMay 11, 2016Staff

      Hi Marcus,

      Thanks for your question.

      Since finder.com is an Australian comparison service, we can’t confirm whether you can send a TT from your HSBC HK account. This will depend on the regulations in place for Hong Kong.

      In this case, it’s best to speak to a HSBC UK representative to confirm.

  4. Default Gravatar
    KarenApril 22, 2016

    Hello,
    Just wanna ask why it took so long to received the transfer that sent to my account? Its from HSBC HONGKONG .Its been 10 days since it was transferred

    • Staff
      ShirleyMay 2, 2016Staff

      Hi Karen,

      Thanks for your question.

      Please note that finder.com is a third party comparison site and is not a product issuer. For direct account enquiries related to HSBC, please speak to them directly.

      All the best.

  5. Default Gravatar
    ShawnJanuary 5, 2016

    Can can I stop immediate transfer from my hsbc bank account to other foreign bank account???

    • Staff
      ShirleyJanuary 5, 2016Staff

      Hi Shawn,

      Thanks for your question.

      If you schedule a transfer to be processed immediately, you may not be able to stop the transfer. Any other scheduled or recurring payments can be cancelled up to one full business day before the requested transfer date. Choose the ‘Transfers’ option and select ‘Future Transfers’ and follow the instructions to change or cancel the instruction.

      Cheers,
      Shirley

  6. Default Gravatar
    ErangaOctober 28, 2015

    Hi ,
    I want to Transfer S$600000.00 from HSBC in Singapore to My HSBC account in Melbourne.
    To This Do I have to become a HSBC Premier Account Holder or can I Do this with a HSBC Normal Account Holder? Which is the best Option?
    Thanks
    Eranga

    • Staff
      ShirleyOctober 28, 2015Staff

      Hi Eranga,

      Thanks for your question.

      You can complete this international money transfer as a regular HSBC account holder.

      Please note finder.com is not in a position to advice what your best options are – this question is best directed to the customer service team at HSBC.

      Cheers,
      Shirely

  7. Default Gravatar
    JuanAugust 15, 2015

    what is the receiving bank in a international wire transfer from usa to HSBC hong kong bank?

    • Staff
      BelindaAugust 17, 2015Staff

      Hi Juan,

      Thanks for your enquiry.

      When sending an international wire transfer with HSBC from the United States to Hong Kong, the receiving bank will be the recipient’s bank that you nominate when processing the transfer.

      To send an international wire transfer, you’ll therefore need to have the recipient’s banking information including their full name, address and bank account number. You’ll also need to provide the recipient’s bank ABA Routing Number or SWIFT number as well as the bank’s name and address.

      Thanks,
      Belinda

  8. Default Gravatar
    RussellAugust 6, 2015

    what AUD intermediary bank do I use to send AUD’s to my HSBC AUD account in the Philippines.?

    • Staff
      BelindaAugust 6, 2015Staff

      Hi Russell,

      Thanks for your enquiry.

      If you’re asking to send AUD to the Philippines and for the funds to remain in AUD dollars, the funds will only be received in a multi currency, so if you withdraw the funds from an ATM, you will be given Peso.
      Unfortunately once the funds have been received it can not be removed from an ATM machine in AUD, only in Peso.

      However, you can send AUD directly to the receiver but again the funds will convert to Peso.

      To complete this transfer, you can use any Australian bank but please note that each bank will have their own fees when transferring funds overseas.

      Thanks,
      Belinda

  9. Default Gravatar
    EmiFebruary 12, 2015

    Hi,

    If I transfer money from Australia to my friend’s HSBC account in Hong Kong, what is the fee charged to my friend to receive the money?

    Thanks.

    • Staff
      ShirleyFebruary 12, 2015Staff

      Hi Emi,

      Thanks for your question.

      Please note that finder.com is an Australian comparison site and we can only provide general advice regarding products issued in Australia.

      Your friend will need to speak to HBSC in Hong Kong to see what these fees are.

      Cheers,
      Shirley

  10. Default Gravatar
    CynthiaAugust 4, 2014

    What are the requirements and incidental fees when and if I am the one receiving money transfer from another bank from Australia? I being an account holder of HSBC Philippines.

    • Staff
      ShirleyAugust 4, 2014Staff

      Hi Cynthia,

      Please speak to your local HSBC customer service team regarding this, as the fee structure for international money transfers is different for each country.

      Cheers,
      Shirley