Review: HSBC international money transfers

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 NameHSBC International Money Transfers
Min. Transfer AmountAUD 100
Max. Transfer AmountAUD 50,000
Transfer MethodsOnline, Agent, Bank Account to Bank Account
Transfer OptionsRegular payments, One off payments, Market orders, Forward contracts
Transfer Speed
Minimum transfer time
1 - 2 days
Customer ServicePhone, Chat, Email, Branch
Available CurrenciesAED, AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, ILS, NOK, NZD, PHP, PLN, SAR, SEK, SGD, THB, USD, ZAR
Online Transfer FeeAUD 20
Branch Transfer FeeAUD 25
Exchange Rate UpdatesReal 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.

Rates last updated November 19th, 2018
$
Name Product Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee Product Description
HSBC Everyday Global Account
Visa
$0
$0
No foreign ATM or transaction fees.
$0 monthly account fee.
Enjoy no minimum ongoing balance or transaction requirements and the flexibility to hold up to 10 currencies. Apple Pay and Google Pay available.
HSBC Day to Day Transaction Account
Visa
$0
$0
Open an account and easily switch your regular payments over from your current bank.
$0 monthly account fee.
Through your linked Visa debit card, you can access exclusive shopping, travel and restaurant deals here and abroad through HSBC's home&Away Privilege Program.

Compare up to 4 providers

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.

CurrencyCurrency codeHSBC buysHSBC sells
Canadian dollarCAD0.95110.9011
Swiss francCHF0.72280.6848
Chinese yuanCNY5.07114.8044
EuroEUR0.63240.5991
Fijian dollarFJD1.57761.4709
Pound sterlingGBP0.55660.5274
Hong Kong dollarHKD5.73555.4339
Indian rupeeINR54.381850.7038
Japanese yenJPY81.850577.5464
New Zealand dollarNZD1.11831.0595
Philippine pesoPHP39.859137.1633
Singapore dollarSGD1.00790.955
Thai bahtTHB24.088722.4594
United States dollarUSD0.72830.6975
South African randZAR10.59389.8773

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:

  1. Click on the registration link on the HSBC internet banking page.
  2. Enter your Personal Banking Number and Access Code.
  3. Set up your personalised username and password.
  4. 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.

Rates last updated November 19th, 2018
Name Product Min. Transfer Amount Transfer Speed Services Description Online Transfer Fee Rate Amount Received
TorFX International Money Transfers
AUD 200
1 day
Online, Phone, Bank Account to Bank Account
TorFX guarantees to match any competitor's exchange rate for a transaction. Conditions apply.
Send money overseas in over 30 currencies. Once registered, you'll be assigned an account manager who can provide support and guidance.
OFX (Ozforex) International Money Transfers
AUD 250
1 day
Online, Phone, Agent
$0 transfer fees for Finder customers.
Transfer any amount from $250 upwards. $0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.
WorldFirst International Money Transfers
AUD 2,000
1 day
Online, Phone, Bank Account to Bank Account
Use code FINDER20 for $20 credit towards your next transfer*. Conditions apply.
Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider.
*Offer valid for one-time use and only applies to transfers of AUD$10,000 or more.
WorldRemit International Money Transfers
AUD 1
Within an hour
Online, Bank Account to Bank Account, Cash Transfer
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
Global Reach (formerly FC Exchange) International Money Transfers
AUD 3,000
1 day
Online, Phone, Bank Account to Bank Account
Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.
XE International Money Transfers
AUD 10,000
1 day
Online, Bank Account to Bank Account
With global payments provider XE, enjoy fast and secure transfers and a range of foreign currency tools and calculators while benefiting from $0 transfer fees.
HiFX International Money Transfers
AUD 50
2 days
Online, Phone, Agent
Transfer amounts as low as $50. No maximum transfer amount. No transfer fees if you transfer more than AU$10,000.
FlashFX International Money Transfers
AUD 200
1 day
Online, Bank Account to Bank Account
Low minimum transfer amount of just AU$200, with no set-up fees or transfer fees.
Exclusive: InstaReM International Money Transfers
AUD 200
1 - 2 days
Online, Phone, Bank Account to Bank Account
Exclusive: finder customers receive $15 off their first transaction. T&Cs apply.
InstaReM offers simple and quick international money transfers with zero-margin exchange rates. There's a flat 0.5% transfer fee for most transfers. Earn loyalty points on sign up, referral and every transaction, plus finder customers receive $15 off first transfer (T&Cs apply).
TransferWise International Money Transfers
AUD 1
1 - 2 days
Online
Make online transfers with transparent exchange rates, low fees and low minimum amounts.
Remit2India International Money Transfers
AUD 50
Same day
Online, Bank Account to Bank Account
Instant transfers to India from anywhere in the world with $0 transfer fees.
New customers who create an account with Remit2India and make a transfer of AUD$500 or more for the first time will receive a complimentary $25 Coles/Myer e-voucher. Click 'Go to site' for T&Cs.
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

Compare up to 4 providers

Frequently asked questions

Rosie Russell

Rosie is a writer at finder.com.au, specialising in money transfers. She's constantly planning her next trip overseas and is on a mission to make personal finance easier to understand.

Was this content helpful to you? No  Yes

International Money Transfer Offers

Important Information*
TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate for a transaction. Conditions apply.
Send money overseas in over 30 currencies. Once registered, you'll be assigned an account manager who can provide support and guidance.

OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers. Transfer any amount from $250 upwards. $0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.

WorldFirst International Money Transfers

Use code FINDER20 for $20 credit towards your next transfer*. Conditions apply.
Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider.
*Offer valid for one-time use and only applies to transfers of AUD$10,000 or more.

WorldRemit International Money Transfers

An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Privacy & Cookies Policy and Terms of Use, Disclaimer & Privacy Policy.

36 Responses

  1. Default Gravatar
    DavidSeptember 26, 2017

    I am non resident, and I have never borrowed money from any bank.

    • Default Gravatar
      DanielleSeptember 26, 2017

      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

  2. Default Gravatar
    TurcerNovember 26, 2016

    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

    • finder Customer Care
      ClarizzaNovember 28, 2016Staff

      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

  3. Default Gravatar
    syimaOctober 24, 2016

    im from malaysia . can i change money ghana to ringgit malaysia ? can u show how i want to do .

    • finder Customer Care
      ClarizzaOctober 24, 2016Staff

      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

  4. Default Gravatar
    sizweOctober 10, 2016

    Greetings!
    Need to find out whether does this program accept all international banks when doing transfers?

    • finder Customer Care
      ClarizzaOctober 12, 2016Staff

      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

  5. Default Gravatar
    kennethJuly 6, 2016

    What is the possibility to transfer Iranian Rial to a designated HSBC US Dollar account ???

    • finder Customer Care
      ClarizzaJuly 7, 2016Staff

      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

    • Default Gravatar
      JanuDecember 30, 2016

      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.

    • finder Customer Care
      MayJanuary 1, 2017Staff

      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

  6. Default Gravatar
    DaisyJune 25, 2016

    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!

    • finder Customer Care
      ClarizzaJune 28, 2016Staff

      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

  7. Default Gravatar
    MarcusMay 11, 2016

    Can I send TT from my HSBC HK a/c to CB bank in Myanmar?

    • finder Customer Care
      ShirleyMay 11, 2016Staff

      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.

  8. Default Gravatar
    KarenApril 22, 2016

    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

    • finder Customer Care
      ShirleyMay 2, 2016Staff

      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.

  9. Default Gravatar
    ShawnJanuary 5, 2016

    Can can I stop immediate transfer from my hsbc bank account to other foreign bank account???

    • finder Customer Care
      ShirleyJanuary 5, 2016Staff

      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

  10. Default Gravatar
    ErangaOctober 28, 2015

    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

    • finder Customer Care
      ShirleyOctober 28, 2015Staff

      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

Ask a question
Go to site