HSBC international transfers review

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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£4

Fees (Pay by Bank Transfer)

£100

Minimum Transfer Amount

Details

Product NameHSBC
Minimum Transfer Amount£100
Pay ByCredit card, Bank transfer
Receiving OptionsBank account, Mobile wallet, Home delivery
Customer ServicePhone, Email, In person
Available CurrenciesAED, AUD, CAD, CHF, CNY, EUR, HKD, JPY, NOK, NZD, SEK, SGD, USD, ZAR
Bank Account Required?No
Personal Account Manager?No

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 and whether you’re sending or receiving it.

Sending money outside the UK

Payment typeOnlineBranchPhonePostal
HSBC to HSBC£0£0£0£17
Within the EEA£0£0£0£17
Outside the EEA£4£9£9£17

Receiving money from outside the UK

AmountCharge
Under £100Free
Over £100£6

The bank charges a service fee for every international transfer, which the sender can review before making the transaction. The sender has different options: to pay all the charges, to share the charges or for the recipient to pay all the charges (which will be deducted from the payment before the recipient gets the money).

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 Wise.

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:

  • Online: up to £50,000
  • Over the phone: £10,000,000 for Premier customers and up to £10,000 for non-Premier customers
  • In branches: Unlimited

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 promoted deals first
Our table below lets you compare the services you can use to send money abroad. Choose if you want to send under or over £10,000, and you’ll be shown a list of services that can help you.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
Wise (TransferWise)
Within an hour
From £3.75

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
TorFX
24 hours
£0

View details
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Central FX
24 hours
£0

View details
Central FX's dedicated team will guide you or your business from first call to final payment.
Currencies Direct
Within an hour
£0

View details
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates.
CurrencyTransfer
24 hours
£0

View details
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
XE Money Transfer
Within minutes
£2
SPECIAL OFFER ✓ £25 Amazon voucher when you refer a friend

View details
XE has fast transfers with low fees and a range of foreign currency tools.
Wise (TransferWise)
Within an hour
From £3.75

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
CurrencyFair
24 hours
€3
SPECIAL OFFER ✓ Zero fees on your first 10 transfers

View details
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Azimo
Within minutes
From £0.99
SPECIAL OFFER ✓ First two transfers free for new customers.

View details
New customers use code AZIMO50 to get GBP 5 off when you transfer GBP 50+. Valid till 31 October 2021. T&Cs apply.
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.
Remitly
Within minutes
From £1.49
SPECIAL OFFER ✓ Free transfers and better exchange rates for new customers

View details
Remitly has quick, affordable transfers around the world, with both express and economy options.
WorldRemit
Within an hour
From £1.99
SPECIAL OFFER ✓ Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.

View details
Send money to Cameroon with zero fees. Valid till 20 October 2021. T&Cs apply.
New customers spend GBP 20 and use code TAKE10 for a GBP 10 discount. Valid till 7 November 2021. T&Cs apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
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Compare up to 4 providers

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.

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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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