HSBCinternationalmoneytransfers

HSBC international money transfers

Transfer funds around the globe quickly and easily with HSBC.

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Are you looking to transfer funds around the world? If so, HSBC is one of the banks that you will probably want to consider using. As we explain later, it’s one of the largest banks in the world, and this overview will explain what services it has available.

Before you carry out any overseas money transfers, it’s important for you to know the Reserve Bank of India (RBI) regulations that govern international remittances.

What types of transfers can I make with HSBC?

  • Outward Wire Transfers. Send money from your HSBC deposit accounts to other people, businesses and financial institutions around the world. Initiate a transfer in person at an HSBC bank branch with relevant documentation like purpose of remittance, beneficiary details etc.
  • Global Transfers. Non Resident Indians (NRI) who are HSBC Premier and Advance account holders can use HSBC’s Global Transfers, which allows you to send up to US$1,00,000 per transaction per day between your eligible HSBC deposit account (subject to permissible limits by RBI) and your HSBC accounts throughout the world. A charge of INR310 (including applicable taxes) is levied on HSBC Advance customers. However, HSBC Premier customers just have to bear the applicable taxes. You can initiate these transfers by logging on to your personal Internet banking account.

Whichever option you choose, HSBC transfers the funds (subject to availability of funds in your account on the “effective date”) to your recipient’s account as soon as possible. If the “effective date” is a bank holiday or a Sunday, the remittance is carried out on the next “working day”, which would be a bank working day in the country of the remittance and also your bank.

If you’re an NRI, you can use HSBC’s Global Transfers service to transfer funds seamlessly between your eligible HSBC deposit accounts with no transfer fee. Or you can use HSBC’s outward wire transfers option to make an international wire transfer to someone else’s bank account, but for a fee. Outward wire transfers are a way to easily and quickly send money to people, businesses and banks worldwide.

No matter which option you choose, to transfer money using HSBC Global Transfers, you should be an NRI and need to first have a Non Resident External (NRE) bank account with HSBC (either an HSBC Premier or Advance account).

Outward wire transfers are offered by HSBC to both Indian residents and NRI customers. However, these need to be carried out by visiting an HSBC bank branch in person.

HSBC international transfers are best for:

  • HSBC customers. It’s easy to transfer money with HSBC, but you’ll need to have a bank account with this financial institution. When it comes to Global Transfers from HSBC India, these can be carried out only from an NRE account of an NRI customer having either a HSBC Premier/Advance account.
  • Bank-to-bank transfers. You can only send money to another bank account. Cash pick-up is not available. And you can only pay for your transfer with your HSBC bank account.

How much does it cost to transfer money with HSBC?

Moving money between your own HSBC accounts using HSBC Global Transfers costs INR310 (inclusive of applicable taxes) if you are an HSBC Advance customer. HSBC Premier customers just have to bear the applicable taxes. Sending an outward wire transfer usually comes with a fee.

How do I make an international transfer with HSBC?

A. HSBC Global Transfers. If you are an NRI and an HSBC Personal Internet Banking customer (either Advance or Premier customer), you can initiate a wire transfer by following these steps:

  1. Log on to your HSBC Personal Internet Banking account.
  2. Select theMy HSBC” tab and click onPay or transfer” under theMove 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.

B. Outward wire transfers. Go to your nearest HSBC branch where you’ll need to fill in the documentation needed for all international remittances. All outward wire transfer requests are subject to approval of documentation by HSBC as per RBI regulations.

What is HSBC?

Established in London by the Hong Kong and Shanghai Banking Corporation in 1991, HSBC Holdings is a multinational financial services provider with roots dating back to the 1860s. The third-largest bank in the world in terms of assets, HSBC has operations across 80 countries and territories around the world.

HSBC’s Indian origins date back to the Mercantile Bank of India’s establishment in 1853 in the city of Mumbai (earlier known as Bombay). HSBC bought the Mercantile Bank in 1959 and has grown steadily since then. HSBC India offers various financial products and services to commercial as well as corporate banking clients along with retail customers. HSBC Bank India has 51 branches across India.

What do customers say about HSBC?

Online customer reviews for HSBC are a mixed bag. One TrustPilot reviewer rates HSBC “quite highly,” while another review notes that “this is surely the worst bank in the world.”

Customer Service

If you need to get in touch with HSBC India you can go in person to your nearest HSBC Bank branch. Alternately, you speak to a phone banking representative by calling one of the following numbers.

  • HSBC Premier resident customers – 1800 266 3456/1800 103/4722 (toll free)
  • HSBC Advance resident customers – 1800 267 3456/1800 102 2208 (toll free)
  • HSBC Personal Banking resident customers – 1860 266 2667/1860 500 2255
  • HSBC Premier NRI customers:
    • For calls to India from other countries – +91-40-67173406/+91-80-49089636
    • For calls in India – 1800 103 4722/1800 266 3456 (toll free)
  • HSBC Advance NRI customers:
    • For calls to India from other countries – +91-40-67173404/+91-80-49089634
    • For calls in India – 1800 102 2208/1800 267 3456 (toll free)
  • Personal Banking NRI customers:
    • For calls to India from other countries – +91-40-67173404/+91-80-49089634
    • For calls in India – 1800 102 2209/1800 209 0100 (toll free)

What other products does HSBC offer?

  • Checking and saving accounts. Manage your ongoing financial needs, from basic accounts with essential features right through to high-end accounts that help you get more out of your money.
  • Credit and debit cards. Whether you’re looking for a platinum-level rewards card or a basic card for emergency purchases, you’ll find a card with HSBC.
  • International banking solutions. From international mortgages to helping those who are relocating overseas, HSBC Bank offers a wide range of international banking services.
  • Home loans. Own your next home sooner with a range of flexible home loan solutions.
  • Investment products. Invest in mutual funds, fixed-income products, ETFs, equities and more with help from HSBC.
  • Insurance. HSBC Bank offers life insurance, long-term-care coverage and disability insurance.

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