HSBC International Money Transfers Comparison

Information verified correct on December 7th, 2016

Transfer funds around the globe quickly and easily with an international money transfer from HSBC

HSBC International Money Transfers

When you need to send funds overseas for any reason, you want a fast, convenient and safe way to get your money where it needs to be. Wire transfers offer an easy and quick way to send money to people, businesses and banks all around the world. There are two options for customers to take advantage of HSBC international money transfers: Global Transfers and international wire transfers.

Global Transfers allows for a seamless transfer of funds between your eligible HSBC deposit account to one of your other HSBC accounts throughout the world, with no transfer fee. International wire transfers can be sent from an eligible HSBC account to other people, businesses and banks around the world, but it will incur a fee.

What is HSBC?

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

HSBC Bank USA services more than 2.4 million customers across the United States, from retail and commercial banking to wealth management, asset management and much more. In addition, HSBC Bank USA has more than 230 branches throughout the United States.

How can you send money overseas with HSBC?

Before you can send money overseas with HSBC, you’ll need to open up an account with the bank. You can do so by applying online or over the phone, and you’ll need to provide:

  • Your name
  • Your address
  • Your taxpayer identification number or social security number
  • Your date of birth
  • Your driver’s license
  • Information about any loans or mortgages you have

Once you have an account it’s easy to start transferring funds around the world via two transfer options:

  • Wire transfers. These can be sent from eligible U.S. HSBC deposit accounts to other people, businesses and financial institutions around the world. Transfers can be sent by logging into Personal Internet Banking, selecting ‘Wire Transfers’ from the menu and then ‘Continue to Wire Transfer’. You’ll then need to complete an online transfer request form with details of your recipient’s name, address and bank account number. In addition, you’ll need to supply the recipient bank’s ABA Routing Number or SWIFT Number, name and address.
  • Global Transfers. HSBC Premier and Advance account holders are able to use its Global Transfers feature. A Global Transfer allows you to send up to $200,000 per transaction and per day between your eligible U.S. HSBC deposit account (excepting CDs and online payment accounts) to your HSBC accounts throughout the world. No fees are attached to these transfers and you can complete the transfers by logging into your Personal Internet Banking account.

Whichever option you choose, the funds will then be transferred to your recipient’s account as soon as possible. Wire transfer requests received by 4:15pm ET will be processed on the same day. Wire transfers requested after 4:15pm ET will be processed on the next business day.

Pros and cons of using HSBC international money transfers

Pros
  • Fee-free transfers. With Global Transfers, HSBC allows you to send up to $200,000 per transaction between your HSBC accounts in different countries without incurring a transfer fee.
  • Quick and convenient. International wire transfers from HSBC Bank USA offer a fast and easy way to send money overseas.
  • Same-day transfers. International wire transfers lodged before 4:15PM ET will be 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, as well as to an HSBC account that does not belong to you. Check the Pre-Payment and Receipt Disclosures associated with your account to confirm what the fee for each transaction will be.
  • 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 using a portable Physical Device.

What other products does HSBC offer?

  • Checking and saving accounts. Choose from a wide range of checking and saving accounts to help you manage your ongoing financial needs, from basic accounts with essential features right through to high-end accounts that help you make more out of your money.
  • Credit and debit cards. Whether you’re looking for a platinum-level rewards card or just a basic card to use for emergency purchases, HSBC has a range of products to suit.
  • International banking solutions. From international mortgages to international account opening and helping those who are relocating overseas, HSBC Bank USA offers a wide range of international banking services to its customers.
  • Mortgages and home equity loans. Own your next home sooner or take advantage of the equity in your current property with a range of flexible mortgage solutions.
  • Investment products. Invest in mutual funds, fixed income products, ETFs, equities and more with help from HSBC.
  • Insurance. HSBC Bank USA offers life insurance, long-term care coverage and disability insurance.

Frequently asked questions about HSBC international money transfers

How much money can I send between my international HSBC accounts?

You can send up to $200,000 per transaction or per day using the HSBC Global Transfers service.

What information do I need to provide to send an international wire transfer?

You’ll need to supply:

  • The recipient’s name and address
  • The recipient’s bank account number
  • The SWIFT number of the recipient’s bank
  • The recipient bank’s name and address
  • You can also supply the recipient’s phone number when necessary

I’m relocating overseas - can HSBC help?

Yes. Visit your nearest HSBC Banking Center to discuss your overseas banking options and even open an account in your new country of residence before you leave the United States. Remote application services are also available online and over the phone if you don’t live near a HSBC branch.

Who can use the Global Transfers service?

HSBC Global Transfers are only available to HSBC Premier and HSBC Advance clients. You can only use HSBC Global Transfers to send money between your HSBC accounts.

Can I cancel an international wire transfer?

Yes, you can cancel an international wire transfer within 30 minutes of submitting it without incurring a penalty.

HSBC allows you to send money across international borders with ease, but, unless you are sending it to one of your other HSBC accounts, expect to pay a fee. You should always compare a number of options before deciding on an international money transfer provider. This will ensure that you can send funds overseas as conveniently and affordably as possible.

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