Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.
HSBC wire transfers review
Transfer funds around the globe quickly and easily with HSBC.
Updated . What changed?
With HSBC’s Global Transfers you can seamlessly 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.
What's in this guide?
- How do I make an HSBC international transfer?
- HSBC wire transfer fees
- HSBC exchange rates
- See how other services compare to HSBC
- What types of transfers can I make with HSBC?
- Pros and cons of using HSBC
- HSBC SWIFT/BIC information
- What is HSBC?
- What do customers say about HSBC?
- Bottom line
- Frequently asked questions
How do I make an HSBC international transfer?
If you are an HSBC Personal Internet Banking customer, you can initiate a wire transfer by following these steps:
- Log on to your HSBC Personal Internet Banking account.
- Select the My HSBC tab and click on Pay or transfer under the Move Money section.
- Select the account that 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.
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 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 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.
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 TransferWise.
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:
- North Korea
See how other services compare to HSBC
Use our comparison calculator to assess the transfer fees, exchange rates and other details for HSBC against our money transfer partners when sending cash overseas.
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 EST are processed on the same day, while transfers requested after 4:15 pm EST are processed the next business day.
Pros and cons of using HSBC
- 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.
- 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.
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|
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 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.
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.”
If you need to get in touch with HSBC you can chat with a representative online, call 800-975-4722, tweet
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.
Frequently asked questions
How much money can I send between my international HSBC accounts?
You can send up to $200,000 per transaction or per day using HSBC’s Global Transfers.
What information do I need to provide to send an international wire transfer?
You’ll need to supply:
- Your recipient’s name and contact information.
- Your recipient’s bank account number, bank address and SWIFT code.
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 US. Remote application services are also available online and over the phone if you don’t live near an HSBC branch.
Who can use HSBC’s Global Transfers?
HSBC Global Transfers are 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.
Read more on this topic
US remittance statistics We've unpacked the most recently available data from the World Bank to get an idea of how much money is being sent around the globe.
Best ways to send money online Navigate the world of sending money domestically and internationally with our hand-picked list of popular services.
XE vs. OFX money transfers Check out this side-by-side comparison of XE and OFX to find out which provider offers the best value on international money transfers.
Alternatives to InstaReM Find the best alternative websites to InstaReM for online money transfers.
TransferWise account for e-commerce sellers review Receive payments in five local currencies and convert them to dozens of others using one account.
XE vs. Western Union We compare XE's and Western Union’s fees, exchange rates and transfer speeds side by side.
Remitly vs. PayPal Compare a well-known payments giant to the newer Remitly and see which one can give you a better deal.
Remitly vs. TransferWise Remitly and TransferWise’s fees, exchange rates and speeds compared side by side.
How to send money to Guinea Compare the services that send money to Guinea. Find out how to get the best value for your money, how long it takes and what to look out for.
Best places to exchange currency in Sydney Your guide to currency exchange services in Sydney, including where to find the best exchange rates and lowest fees.
Ask an Expert