HSBC wire transfers review

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:

1. Log in to your HSBC Personal Internet Banking account.
2. Select the My HSBC tab and click Pay or transfer under the Move Money section.
3. Select the account 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.

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:

See how other services compare to HSBC

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

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.

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 will 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. You can also open an account in your new country of residence before you leave the US. Remote application services are 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 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.