HSBC international money transfers review November 2018 | finder.com

Review: HSBC international money transfers – November 2018

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Fast, secure, convenient transfers for sending money overseas

HSBC makes it easy to send money to banks overseas. You can initiate an international transfer right from your online HSBC bank account from the convenience of your own home.

Product NameHSBC
Min. Transfer Amount$10
Max. Transfer Amount$200,000
Transfer Methods
Online, Phone, Agent, , ...
Transfer Options
Transfer Speed
Minimum transfer time
Same day
Customer Service
Phone, Email, Branch
Available CurrenciesUSD
Exchange Rate UpdatesReal time

Transfer money between your HSBC accounts or send it directly to another bank account

When you need to send money around the world, HSBC offers two simple and convenient solutions: international wire transfers and global transfers. International wire transfers offer a completely secure way to send funds internationally, with same-day processing available and the ability to make transfers straight from your HSBC personal online banking account.

Global Transfers come in handy when you need to transfer funds between your eligible HSBC accounts in other countries. You can send up to $200,000 per transaction and you will not have to pay any transfer fees on your transactions. Wire transfers come with a fee.

HSBC SWIFT/BIC information

Bank nameSWIFT/BICBank addressRecipient’s nameRecipient’s account number
HSBC BankMIDLGB228 Canada Square, 13 E04 01, London, United Kingdom, E14 5HQBeneficiary’s name as it appears on the bank statementComplete bank account number

How much does it cost to transfer money with HSBC?

One of the big advantages of using the HSBC Global Transfers service is that no fees apply to your international transactions. But this only applies to transferring between your own HSBC accounts.

However, a service fee is charged by the bank for every international wire transfer you send. You’ll be able to review any charges that apply to each transfer before you make your transaction.

HSBC exchange rates

You’ll need to consider the exchange rate that applies whenever you send money overseas, and HSBC updates its rates frequently in order to keep pace with market fluctuations. You’ll be able to review the live exchange rate that applies to each transaction before you make a transfer, but using the global transfers service to send money between your accounts entitles you to preferential exchange rates from the bank.

What types of transfers can you make with HSBC?

HSBC offers two options when you need to send an international money transfer:

  • Global transfers from your eligible U.S. HSBC deposit accounts to your HSBC deposit accounts in other countries.
  • International wire transfers to another person, business or financial institution in the U.S. or internationally.

Pros and cons of using HSBC

Pros

  • Trusted global bank. HSBC is one of the biggest banks in the world.
  • Secure and convenient. Whether you’re sending HSBC global transfers or an international wire transfer, HSBC offers safe and easy international money transfer solutions.
  • Same-day transfers. International wire transfers initiated before 4:15 p.m. ET are processed by HSBC Bank USA on the same day.

Cons

  • Wire transfer fees. You’ll need to pay a service fee for each international wire transfer you send to a non-HSBC account or an HSBC account that does not belong to you. Check the pre-payment and receipt disclosures associated with your account to confirm the fee you’ll pay for each transaction.
  • Security device. You may be required to obtain an HSBC security device that requires two-factor authentication to make a transfer. You have the option of using a digital device via the HSBC mobile banking app or a portable physical device.

How do I send money overseas with HSBC?

Before you can send money overseas with HSBC, you’ll need to open an account with the bank.

Apply online or over the phone with:

  • Your full name and contact information.
  • Your Taxpayer ID Number or Social Security Number.
  • Your date of birth.
  • Your driver’s license or other government-issued ID.
  • Information about any loans or mortgages you have.

Once you have an account, it’s easy to start transferring funds around through two transfer options.

The transfer process

Once you are an HSBC account holder, you can transfer funds by following these steps:

  1. Log on to your HSBC Personal Internet Banking account.
  2. Select the My HSBC tab and click on Pay or transfer under the Move Money section.
  3. Select the account that you wish to make a payment from, then click the New Payee tab.
  4. Click the Wire transfer tab and follow the onscreen instructions to complete the wire transfer request.

Bottom line

Whatever the reason you need to transfer funds across international borders, HSBC offers two money transfer options worth considering. However, before you decide on the right solution to your funds transfer needs, compare the features and benefits of a range of providers.

How does HSBC compare to other providers?

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
$0 3 - 5 days USD 0.00 20.013 MXN 100,065 Transfer up to $500,000 with no minimums and no fees. Go to site Show details
USD 1,000 1 day USD 0.00 20.003 MXN 100,015 No maximum limit, no fees and competitive exchange rates for 100+ currencies. Go to site Show details
USD 1 Within an hour USD 3.99 20.003 MXN 99,935 Use promo code FINDER to send your first transfer with no fee.
Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.
Go to site Show details
USD 1 3 - 5 days USD 75.00 20.185 MXN
99,409
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
GBP 5,000 1 - 2 days USD 0.00 19.983 MXN 99,914 Get live quotes on exchange rates and take advantage of no transaction fees with no limits on transfers. Go to site Show details

Compare up to 4 providers

Frequently asked questions about HSBC

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US International Money Transfers Offers

Important Information*
XE Money Transfer

Transfer up to $500,000 with no minimums and no fees.

WorldRemit International Money Transfers

Use promo code FINDER to send your first transfer with no fee.
Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.

World First Foreign Exchange

No maximum limit, no fees and competitive exchange rates for 100+ currencies.

TransferWise International Money Transfers

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

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8 Responses

  1. Default Gravatar
    TalSeptember 5, 2018

    Good day good day if someone is transferring money from South Africa into my Hong Kong hsbc advance account what currency does it accept. Need to know urgently. Thanks

    • finder Customer Care
      johnbasanesSeptember 5, 2018Staff

      Hi Tal,

      Thank you for leaving a question.

      If the transfer would come from an HSBC bank to another HSBC bank, the currency of the country of the accepting bank will be followed. In your example, it would be Hongkong Dollars. Hope this clarifies it.

      Cheers,
      Reggie

  2. Default Gravatar
    MelJune 27, 2018

    I need to transfer 1000 US what is the transfer fee?

    • finder Customer Care
      JhezelynJune 27, 2018Staff

      Hello Mel,

      Thank you for your comment.

      A service fee is charged by the bank for every international wire transfer. The fee is actually shown to you for review each time you make a transaction. The fee varies per amount that you send, country and other rates.

      Regards,
      Jhezelyn

  3. Default Gravatar
    MihaelaJune 19, 2018

    Somebody transfer me from this bank, from this hsbc account and i want to know when i can take the money? 24 h 48 h….how much time.

    • finder Customer Care
      JoanneJune 20, 2018Staff

      Hi Mihaela,

      Thanks for reaching out.

      The minimum transfer time should be the same day. International wire transfers initiated before 4:15 p.m. ET are processed by HSBC Bank USA on the same day. For additional details, the sender may want to verify with HSBC the estimated time funds will be credited to your account and you may also check with your bank what the estimated time the funds will post to your account.

      Best Regards,
      Joanne

  4. Default Gravatar
    ChilakaJune 4, 2018

    Someone transferred 1170 Pounds into my HSBC account a week ago, but I never received it into my account. I checked the receipt of payment he sent to my email every information seem to be correct except the name that was written in full as Andrew Christian Chilaka. instead of A. C. Chilaka. A. C. Chilaka is exactly my account name. The sender wrote the name in full when sending the money. So, could that be the reason why I didn’t receive the payment? Please help.

    • finder Customer Care
      JoshuaJune 5, 2018Staff

      Hi Chilaka,

      Thanks for getting in touch with finder.

      I’m sorry to hear about your situation. I can just imagine the stress you’re going through not seeing the money in your account.

      Yes, it is possible that the account name might be the reason you didn’t receive the money. In most cases, banks ensure that money sent is going to the right person.

      It would be a good idea to ask your sender if the money was returned to him since you didn’t receive it. Another suggestion is you need to ask HSBC directly about the money and verify its status.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

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