CurrencyFair
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.
To initiate a wire transfer, you must first be an HSBC Personal Internet Banking customer. Then:
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.
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.
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.
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:
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.
| 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 |
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.
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.
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
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My friend transfer from hsbc hongkong to bank of china macao..the last digit of the acount number is incorect …will it reach macau bank?how to check if the transfer is already done
Hi Rhein,
Thank you for your inquiry.
I’m afraid it will not be a successful transfer if the bank details is incorrect. You should enter all details correctly to avoid issues or delay with your money transfer.
I suggest contacting HSBC directly for assistance by visiting their official site.
Best regards,
Rench
if a friend from London send me money as a gift from HSBC what confirmation must I get and do I have to pay money in order to clear funds into my account? does the money go straight to my bank or reserve bank of sa must communicate with me in order to release the money?
Hi Maggie,
Thanks for reaching out.
Basically, recipients of money transfers would also pay fees for receiving money into their bank accounts, but that would depend on the institution they bank with. In your case, it would be best to directly get in touch with your bank if they would apply fees when your receive money to your account.
Cheers,
May