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HSBC wire transfers review
The ins and outs of transferring funds around the globe with this provider.
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With HSBC’s Global Transfers, you can transfer funds between your eligible HSBC deposit accounts with no transfer fee. Or you can use HSBC’s Wire Transfers option to make an international wire transfer to someone else’s bank account — but for a fee. Whichever option you choose, you’ll first need to have a bank account with HSBC.
How do I make an HSBC international transfer?
To initiate a wire transfer, you must first be an HSBC Personal Internet Banking customer. Then:
- Log in to your HSBC Personal Internet Banking account.
- Select the My HSBC tab and click Pay or transfer under the Move Money section.
- Select the account you wish to make a payment from, then click the New Payee tab.
- Click the Wire transfer tab and follow the onscreen instructions to complete the wire transfer request.
HSBC wire transfer fees
HSBC transfer fees depend on how you’re sending the transfer and whether you’re sending or receiving an international wire transfer. Some accounts allow for free international wire transfers between HSBC accounts, but others use HSBC’s default fee schedule:
| Outgoing | Incoming | Between qualifying HSBC accounts | |
|---|---|---|---|
| Domestic wire transfer | $35 | $15 | Free |
| International wire transfer | $35 | $15 | Free |
Note: Wire transfer fees from May 2020.
A notable advantage of using the HSBC Global Transfers service is that no fees apply to your international transactions — but this only applies to transfers 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 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.
Must read: Who charges less
Independent transfer services usually win out over banks when it comes to fees. There are several providers who will send a transfer for free with competitive exchange rates, including OFX, Xe and Wise.
- Wise is a peer-to-peer transfer service that uses the mid-market rate — the rate banks and transfer services use when they trade among themselves.
- OFX is a global company that offers low fees and competitive exchange rates on transfers, particularly larger transfers over $1,000.
- Xe, known for providing exchange rate information, also sends money transfers to more than 100 countries around the world.
Transfer limits and available countries
As HSBC is an international bank, you can use the Global Transfers service to send funds to eligible HSBC deposit accounts in more than 45 countries around the world. The maximum amount you can send per day using this service is $200,000.
With wire transfers, you can send your funds to financial institutions in most countries around the world. However, there are some countries where US banks will not send your funds, such as:
- Iran
- Iraq
- Cuba
- North Korea
See how other services compare to HSBC
Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
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What types of transfers can I make with HSBC?
- Wire Transfers. Send money from your HSBC deposit accounts to other people, businesses and financial institutions around the world. Initiate a transfer through your online account, completing an online transfer request form with your recipient’s name, address and bank account number. You’ll also need to supply your recipient bank’s routing number or SWIFT code.
- Global Transfers. HSBC Premier and Advance account holders can use HSBC’s Global Transfers, which allows you to send up to $200,000 per transaction per day between your eligible HSBC deposit account (except CDs and online payment accounts) and your HSBC accounts throughout the world. No fees are attached to these transfers, and you can initiate them by logging on to your personal Internet banking account.
Whichever option you choose, HSBC transfers the funds to your recipient’s account as soon as possible. Wire transfer requests received by 4:15 pm ET are processed on the same day, while transfers requested after 4:15 pm ET are processed the next business day.
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 prepayment 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.
HSBC SWIFT/BIC information
| Bank name | SWIFT/BIC | Bank address | Recipient’s name | Recipient’s account number |
|---|---|---|---|---|
| HSBC Bank | MRMDUS33 | 452 FIFTH AVENUE, NEW YORK, NY 10018 | Beneficiary’s name as it appears on the bank statement | Complete bank account number |
More about 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 Bank USA services more than 2.4 million customers across the US, from retail and commercial banking to wealth management, asset management and more. HSBC Bank USA has more than 230 branches throughout the US.
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 USA offers a wide range of international banking services.
- 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.
Bottom line
Whatever the reason you need to transfer funds across international borders, HSBC offers two money transfer options that may be worth considering. But before you decide on the right solution for your funds transfer needs, compare the features and benefits of a range of providers.
I want to make wire transfer from China Merchants Bank（China mainland）to HSBC in USA. Will HSBC in USA charge a fee? Thanks！
Hi Michael,
Thanks for reaching out to Finder.
If the HSBC US account holder is a premier account holder, there will be no fee charged for receiving the international wire transfer from China Merchants Bank.
Otherwise, your recipient will be a charged $15 if he/she is holding an advance account and $12 if he/she has a personal bank account with HSBC US.
I hope this helps.
Cheers,
Charisse
How long can it take to receive recalled international wire back to my account? It’s been 4 days now since I requested a recall and still haven’t received it back into my account yet. And I made the request 2 days after the transfer was initiated but was still pending on my account
Hi Emy,
Thank you for getting in touch with Finder.
Ideally, it takes 1-3 business days. If you did not get your recalled money transfer within the said time frame, kindly get in touch with HSBC to check its status.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
I have an account in the UK. If I open one in the US, would the transfers of money have any fees associated with it?
Hi DGP314,
Thanks for getting in touch with Finder. I hope all is well with you. 😃
If you are going to use HSBC’s Global Transfers, there’s no fee when sending money internationally between your eligible HSBC deposit accounts. You can start sending money by logging on to your personal internet banking account.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
My friend transfer money from HSBC Swiss bank to ICICI India bank.08.02.2019 4pm he paid the remittance charge.so when we we receive the money at my ac
Hi Saikat,
Thank you for leaving a question. Using HSBC transfer services – wire transfers or global transfers. Whichever option you choose, HSBC transfers the funds to your recipient’s account as soon as possible. Wire transfer requests received by 4:15 pm EST are processed on the same day, while transfers requested after 4:15 pm EST are processed the next business day.
Hope this helps.
Kind Regards,
Val
How long does a transfer take to process?
Hi Simone,
Thank you for your comment.
HSBC international wire transfers offer same-day processing as long as you submit your transfer before 4:15 p.m. ET.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn