Transfer money abroad and enjoy a range of banking services with HSBC.
Quick verdict
Good for
- The security of a well-known, international bank
- Convenience if you're already with HSBC
- A multi-currency account which stores up to 10 currencies
Not so great for
- Users who want better exchange rates
- Low, transparent fees
- Fast transfers
| Product Name | HSBC International Money Transfers |
|---|---|
| Min. Transfer Amount | AUD 100 |
| Max. Transfer Amount | AUD 50,000 |
| Transfer Methods | Online, Agent, Bank Account to Bank Account |
| Transfer Options | Regular payments, One off payments, Market orders, Forward contracts |
| Transfer Speed Minimum transfer time | 1 - 2 days |
| Customer Service | Phone, Chat, Email, Branch |
| Available Currencies | AED, AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, ILS, NOK, NZD, PHP, PLN, SAR, SEK, SGD, THB, USD, ZAR |
| Online Transfer Fee | AUD 20 |
|---|---|
| Branch Transfer Fee | AUD 25 |
| Exchange Rate Updates | Real time |
Pros
- Multi-currency account available.
- Global safety net services.
- Instant transfers within HSBC.
Cons
- Limits on how much you can transfer.
- Extra fees in comparison to some other money transfer services.
- Limited number of currencies.
What you need to know about sending a money transfer with HSBC
If you're looking into sending money overseas, HSBC can offer you security and convenience. With HSBC internet banking, you can manage your account, update passwords and personal details and set up transfers or pay bills no matter where you are. You will also get access to all major currencies and save money on international transfers with HSBC's competitive transfer rates.
HSBC allows you to make international transfers in a variety of ways, including using the accounts below. Their multi-currency account, the Everyday Global Account, lets you hold up to 10 foreign currencies in your account.
HSBC foreign exchange rates
While HSBC's exchange rates are generally not as close to the mid-market rate as other money transfer specialists, they do offer a competitive rate when compared to other banks. Before finalising your money transfer, double-check the final exchange rate as it can vary from the first rate quoted.
| Currency | Currency code | HSBC buys | HSBC sells |
|---|---|---|---|
| Canadian dollar | CAD | 0.9511 | 0.9011 |
| Swiss franc | CHF | 0.7228 | 0.6848 |
| Chinese yuan | CNY | 5.0711 | 4.8044 |
| Euro | EUR | 0.6324 | 0.5991 |
| Fijian dollar | FJD | 1.5776 | 1.4709 |
| Pound sterling | GBP | 0.5566 | 0.5274 |
| Hong Kong dollar | HKD | 5.7355 | 5.4339 |
| Indian rupee | INR | 54.3818 | 50.7038 |
| Japanese yen | JPY | 81.8505 | 77.5464 |
| New Zealand dollar | NZD | 1.1183 | 1.0595 |
| Philippine peso | PHP | 39.8591 | 37.1633 |
| Singapore dollar | SGD | 1.0079 | 0.955 |
| Thai baht | THB | 24.0887 | 22.4594 |
| United States dollar | USD | 0.7283 | 0.6975 |
| South African rand | ZAR | 10.5938 | 9.8773 |
Rates are current as of 16 October 2018.
How much does it cost to transfer money abroad with HSBC?
HSBC international money transfers enable you to safely transfer funds to your friends or family overseas or back in Australia from more than 45 countries. HSBC charges a flat fee of $25 for each transaction, but you can save $5 on this if you go through its Internet banking service. While it is a flat fee, the exchange rate HSBC offers is often not as good as the mid-market rate.
Keep in mind that your recipient's bank may also charge a fee, which you can choose to pay on their behalf. This fee varies depending on the bank.
Minimum and maximum transfer amounts
HSBC lets you make online payments transfer money abroad using its Internet banking service. For both business and personal accounts, the maximum amount you can transfer overseas is $50,000 per day. You can apply to raise the daily limit through your online profile, but the final decision on this is up to HSBC.
The minimum amount you can transfer abroad with HSBC is $100.
The registration and transfer process
Having access to HSBC international money transfer services requires that you register for online internet banking with a Personal Banking Number, an Access Code and an online security device which you can either obtain from HSBC branches or receive by mail if you register online.
Here are the steps you need to follow to register for internet banking:
- Click on the registration link on the HSBC internet banking page.
- Enter your Personal Banking Number and Access Code.
- Set up your personalised username and password.
- An online security device will then be mailed to your address so you can activate your online service and transfer funds freely from your HSBC personal or business account.
Why are the benefits of an HSBC international money transfer?
- Secure money transfer. HSBC views your security as a top priority, ensuring that your details and funds are secure while making online transfers. Once you register for online banking, you receive a security device that boosts the safety of all your transactions, while the bank also offers you the best encryption available today to ensure your personal details are safe.
- Wide coverage. HSBC offers you a convenient way to access your money all over the globe, with over 375 centres worldwide and more than 36 branches and offices within Australia. The bank has established a presence in more than 45 countries and territories, allowing you to access your money no matter where you are.
- Mobile banking. This service allows you to transfer funds, make payments and manage your account from your mobile device, saving you time.
What other products and services does HSBC offer?
- HSBC Business. This is a service designed to assist businesses that trade internationally to take advantage of opportunities overseas. HSBC provides a range of business accounts to help such organisations with banking solutions, plus it also provides working capital solutions to help international businesses manage their cash flow efficiently.
- Financial planning. HSBC provides a range of financial planning services, offering you personalised strategies to help you secure your family’s financial future, manage your investment portfolios and help you prepare for retirement.
- Financial assistance. HSBC provides financial assistance in loans and mortgages, with HSBC premier customers getting access to low-rate premier home loans.
In a nutshell
Pros
- Multi-currency account. If you're a frequent traveller and need access to a range of foreign currencies, you can benefit from HSBC's Everyday Global Account that allows you to hold up to 10 foreign currencies.
- Global safety net services. Your children or family abroad can get emergency access to your HSBC premier account, up to $2,000 in emergency cash or next-day card replacement services, should they lose or misplace their credit cards.
- Instant transfers within HSBC. With HSBC internet banking, you can make instant money transfers between your domestic HSBC and international accounts.
Cons
- Limits. There is a default limit on how much you can transfer internationally.
- Extra fees. When compared to other money transfer services, banks tend to offer steeper fees and less competitive exchange rates.
- Limited number of currencies. While HSBC can transfer money to more than 45 countries, their Everyday Global Account only allows 10 currencies to be pre-loaded.
Check out some alternatives to HSBC
Want to send money overseas but are after the best deal? An online money transfer specialist like the ones below often offer better exchange rates and lower fees than your traditional bank.
I am non resident, and I have never borrowed money from any bank.
Hi David,
Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
You may refer to this page for options that may suit your needs. It may also serve as a reference guide.
I hope this helps.
Cheers,
Danielle
I want to open a Basic HSBC Account in TURKEY before I go back to Sydney and again I want to open HSBC Day to Day Account in Australia as well.
From Turkey fees seems more high but from Australia fees are low for transferring money .
The same account holder but different HSBC branch one in Turkey one in Australia
My question is whats my money transfer options what will be the fees for transferring money from account to account on line banking with HSBC.
Thank you for your time and help.
Kind Regards,
Turcer
Hi Turcer,
Thanks for your question.
We have been in touch with HSBC with your query and will get back to you at the earliest.
Regards,
Clarizza
im from malaysia . can i change money ghana to ringgit malaysia ? can u show how i want to do .
Hi Syima,
Thanks for your question.
HSBC is an international bank that offers money transfer services on certain products. To use this service, you will need to open either the HSBC Day to Day Transaction account or the HSBC multi-currency account. You can begin the process of opening either of those by clicking the ‘Open’ button once you are ready.
HSBC offers online international money transfers which means the transfer typically takes place through the HSBC internet banking platform.
Regards
Clarizza
Greetings!
Need to find out whether does this program accept all international banks when doing transfers?
Hi Sizwe,
Thanks for your question.
Yes, HSBC accepts transfers from all around the world. Please note, we are a general comparison website and as such provide general advice only.
Regards,
Clarizza
What is the possibility to transfer Iranian Rial to a designated HSBC US Dollar account ???
Hi Kenneth,
Thanks for your question. As you may be aware, there are currently sanctions in place between the U.S and Iran that may restrict international banks from dealing in the Iranian market.
It’s best to check with your bank first and find out what you can do to send money to the U.S. It should be noted, we are a comparison website and as such provide general advice only.
Hope this helps.
Clarizza
Hi there,
Does HSBC transfer the money from Hong Kong to Myanmar’s bank? I been trying for so long. And haven’t try with HSBC.
If yes please let me know the detail.
Thanks a lot.
Hi Janu,
Thanks for your inquiry.
As finder.com.au is an Australian third party comparison website, I’m afraid we can’t advise whether the HSBC in Hong Kong can transfer money to bank account in Myanmar. Best to contact HSBC Hong Kong to confirm this.
Cheers,
May
If I want to transfer money from HSBC melbourne to HSBC Hong Kong. However, I don’t have an HSBC account. Can I go to the branch with cash and ask them to put it into an HSBC Hong Kong account? How much fee would be applied?
Thank You!
Hi Daisy,
Thanks for your question.
You can certainly transfer money to HSBC Hong Kong, however you would need to open an account.
Online transfers will incur a $20 fee while bank transfers will incur a $25 fee. Please note, there may be a limit to the amount you transfer so it’s best to check this with HSBC.
You can also send money through an international money transfer – our page might help you compare services or you can contact an FX expert on the form at the bottom of that page.
Hope this helps.
Clarizza
Can I send TT from my HSBC HK a/c to CB bank in Myanmar?
Hi Marcus,
Thanks for your question.
Since finder.com.au is an Australian comparison service, we can’t confirm whether you can send a TT from your HSBC HK account. This will depend on the regulations in place for Hong Kong.
In this case, it’s best to speak to a HSBC UK representative to confirm.
Hello,
Just wanna ask why it took so long to received the transfer that sent to my account? Its from HSBC HONGKONG .Its been 10 days since it was transferred
Hi Karen,
Thanks for your question.
Please note that finder.com.au is a third party comparison site and is not a product issuer. For direct account enquiries related to HSBC, please speak to them directly.
All the best.
Can can I stop immediate transfer from my hsbc bank account to other foreign bank account???
Hi Shawn,
Thanks for your question.
If you schedule a transfer to be processed immediately, you may not be able to stop the transfer. Any other scheduled or recurring payments can be cancelled up to one full business day before the requested transfer date. Choose the ‘Transfers’ option and select ‘Future Transfers’ and follow the instructions to change or cancel the instruction.
Cheers,
Shirley
Hi ,
I want to Transfer S$600000.00 from HSBC in Singapore to My HSBC account in Melbourne.
To This Do I have to become a HSBC Premier Account Holder or can I Do this with a HSBC Normal Account Holder? Which is the best Option?
Thanks
Eranga
Hi Eranga,
Thanks for your question.
You can complete this international money transfer as a regular HSBC account holder.
Please note finder.com.au is not in a position to advice what your best options are – this question is best directed to the customer service team at HSBC.
Cheers,
Shirley