Global Money Transfers | Foreign Exchange - HSBC Expat (2024)

FAQs

What exchange rate does the HSBC Global money Account use? ›

All foreign currency conversions use the HSBC Exchange Rate, which is quoted to you at the time of making the transfer. The HSBC Exchange Rate is a live rate during trading market opening hours.

Transfer times. You can make instant transfers between your HSBC Expat accounts in most currencies. In countries and regions with onshore currency trading regulations, transfers can take up to 5 days.

HSBC Global Transfers

Eligible HSBC Premier, Premier Elite or HSBC One customers can link their personal global HSBC accounts and make transfers between them, fee-free.

Global payment / transfer limits

'Daily cross-border transfer master limit' is a daily master limit of up to HKD3,000,000 or equivalent covering all global payments / transfers[@transfer-and-payment-payeelimit-gbawmc] via HSBC HK App and Online Banking.

With HSBC Global Transfers, you can transfer money between your globally linked accounts quickly and seamlessly, with no transfer fees. Plus, you'll enjoy zero intermediary bank charges when you make instant³ transfers to your family and friends' HSBC accounts worldwide⁴ .

HSBC credit cards don't charge foreign transaction fees. However, if you use your HSBC Debit Mastercard® card, you may be charged a fee for any purchases abroad. This includes international payments made online.

Available currencies

AED, AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, JPY, NOK, NZD, PLN, SAR, SEK, SGD, THB, USD, ZAR.

Global Transfers between HSBC accounts are usually instant in most currencies, but it could take up to 5 working days in some countries.

How long does a Global Money Transfer take? Our standard transfer time for payments made to non-HSBC accounts through the mobile banking app is 1 to 3 days. For selected currencies and destinations, faster payment times are available.

Make Cross-Border Payments

Digital wallets are independent of banks and can hold funds in multiple currencies, with transparent exchange rates. Because of this, they can circumvent many of the fees and costs associated with wire transfers, making it even easier to send money abroad, all over the world.

Is the HSBC Global money Account worth it? ›

Is the HSBC Global Money Account Worth It? Overall, we think the GMA is a viable, albeit expensive option for HSBC customers travelling abroad, and we'd generally only recommend using it if you're happy with HSBC as a banking partner and don't mind paying the higher margins.

What is happening to HSBC Canada? The HSBC Group agreed to sell HSBC Bank Canada to the Royal Bank of Canada. From the 28 March 2024, HSBC Canada customers will have the option to become customers of the Royal Bank of Canada.

OFX. OFX does not charge any fees, and the exchange rate is less than 1%, but all transfers must occur within bank accounts, and it typically takes two to four days for your recipient to get the money. The company can transfer money to over 170 countries or 50-plus currencies.

Will I be charged anything extra if I use my credit card overseas? A service fee amounting to 2.50% of the converted sum plus reimbursem*nt of the assessment fee charged by Visa/MasterCard to HSBC equivalent to 1% of the converted sum, will be charged for overseas transactions.

Is the HSBC Global Money Account Worth It? Overall, we think the GMA is a viable, albeit expensive option for HSBC customers travelling abroad, and we'd generally only recommend using it if you're happy with HSBC as a banking partner and don't mind paying the higher margins.