HSBC international transfers review

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The ins and outs of transferring funds around the globe with this provider.

  • Good for same-day transfers and HSBC Advance or Premier account holders.
  • Not so great if you’re looking for highly competitive exchange rates or low fees.

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GBP 100

Min. Transfer Amount

GBP 50,000

Max. Transfer Amount

Same day

Transfer Speed

Details

Product NameHSBC International Money Transfers
Min. Transfer AmountGBP 100
Max. Transfer AmountGBP 50,000
Transfer MethodsOnline, Phone, Agent, Bank Account to Bank Account
Transfer OptionsOne off payments
Transfer Speed
Minimum transfer time
Same day
Customer ServicePhone, Email, Branch
Available CurrenciesAED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, INR, MXN, NOK, NZD, PLN, SDG, SEK, USD, ZAR
Online Transfer FeeGBP 4

With HSBC’s Global Transfers service you can seamlessly transfer funds between your eligible HSBC accounts with no transfer fee. Or you can use HSBC’s international transfer option to make a transfer to someone else’s bank account abroad, 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 transfer, you must first be an HSBC Personal Internet Banking customer. Then:

  1. Log on to your HSBC Personal Internet Banking account.
  2. Select the My HSBC tab and click on Pay or transfer under the Move 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 on-screen instructions to complete the international transfer request.

HSBC international transfer fees

HSBC transfer fees depend on how you’re sending the transfer. If you’re sending it to another HSBC account or to someone within the European Economic Area it’s free, otherwise it’s £4.

However, the bank charges a service fee for every international 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 HSBC’s Global Transfers service to send money between your accounts gives you 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 the Global Transfers service is USD$200,000 (roughly £150,000).

With international transfers, you can send your up to £50,000 to financial institutions in most countries around the world. However, there are some countries where UK banks will not send your funds, such as Iran, Iraq, Cuba and North Korea.

See how other services compare to HSBC

Table: sorted by a combination of service offering and the amount your recipient will receive

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 1 2 days GBP 20.00 1.124 EUR
5,600
TransferWise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details
GBP 2,000 1 day GBP 0.00 1.113 EUR
5,566
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000. Go to site Show details
GBP 1,000 Same day GBP 0.00 1.113 EUR
5,566
SpartanFX has fee-free transfers, a best exchange rate guarantee and personalised one-to-one support for every customer. Go to site Show details
GBP 2,000 1 day GBP 0.00 1.113 EUR
5,566
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates. Go to site Show details
GBP 5,000 1 day GBP 0.00 1.118 EUR
5,591
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace. Go to site Show details
GBP 2,500 Same day GBP 0.00 1.113 EUR
5,566
CentralFX's dedicated team will guide you or your business from first call to final payment. Go to site Show details
GBP 1 Same day GBP 0.00 1.119 EUR
5,593
XE has fast transfers with no fees and a range of foreign currency tools. Go to site Show details
GBP 10 Within an hour GBP 1.99 1.11 EUR
5,547
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Go to site Show details
GBP 5 2 days EUR 3.00 1.119 EUR
5,594
Special offer: Zero fees on your first 10 transfers.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
GBP 10 Within an hour GBP 2.00 1.118 EUR
5,590
First two transfers free for new customers.
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.
Go to site Show details
GBP 50 Same day GBP 2.99 1.113 EUR
5,563
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

What types of transfers can I make with HSBC?

  • International transfers. Send up to £50,000 from your HSBC account 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 USD$200,000 (roughly £150,000) per transaction per day between your eligible HSBC deposit account 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. International transfer requests received by 4.15pm are processed on the same day, while transfers requested after 4.15pm 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 transfer, HSBC’s international money transfer solutions are safe and easy.
  • Same-day transfers. International transfers initiated before 4.15pm are processed by HSBC on the same day.

Cons

  • International transfer fees. You’ll need to pay a service fee for each international transfer you send to a non-HSBC account or an HSBC account that doesn’t 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 get 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 one.

Customer service

If you need to get in touch with HSBC about a transfer abroad you can chat with a representative online, call 020 7991 7414 or tweet @HSBC_UK (but don’t tweet any personal account info).

HSBC SWIFT/BIC information

Bank nameSWIFT/BICBank addressRecipient’s nameRecipient’s account number
HSBC BankMIDLGB228 Canada Square, London, United Kingdom, E14 5HQBeneficiary’s name as it appears on the bank statementComplete 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 has more than eight million customers across the UK, from retail and commercial banking to wealth management, asset management and more. HSBC Bank has more than 600 branches throughout the UK.

What other products does HSBC offer?

  • Current 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. HSBC offers a wide range of international banking services, from international mortgages to helping those who are relocating overseas.
  • 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 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 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

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4 Comments

    Default Gravatar
    Sarah
    December 29, 2017

    Hello, my client has a HSBC account and wants to do a money transfer to my bank account in Korea. Since I have several accounts of different korean banks, I would like to know which korean bank should I give my client so that he doesn’t have to pay the correspondance fee. Last time, he sent the money to Shinhan bank and there was a trasnfer fee and correspondance fee from Deutsche bank that was required.

      Avatarfinder Customer Care
      Arnold
      December 30, 2017

      Hi Sarah,

      Thanks for your inquiry

      I’m afraid we cannot recommend specific banks. It would be best to speak directly with your banks and inquire about their international money transfer fees. Ultimately, it would be up to you to choose the bank that meets your needs.

      Hope this information helps

      Cheers,
      Arnold

    Default Gravatar
    Joy
    July 16, 2017

    Is it possible to transfer money from Bangladesh to Canada ?

      Avatarfinder Customer Care
      May
      July 17, 2017

      Hi Joy,

      Thanks for reaching out.

      If you have a bank account with HSBC in Bangladesh and would want to do a money transfer to another bank or HSBC account in Canada, yes, you can. Please organise your transfer via online banking and log into your account. Fees and rates will be specified in your transfer. For all your other inquiries, please get in touch with HSBC Bangladesh directly.

      Cheers,
      May

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