Local Funds Transfer PESONet FAQ | Ways to Bank - HSBC PH (2024)

FAQs

Is HSBC a PESONet? ›

PESONet is a Banko Sentral ng Pilipinas regulated electronic funds transfer service that enables HSBC account holders to transfer funds in Philippine Peso to another account holder or multiple recipient accounts of other participating Philippine banks and financial institutions.

PESONet is available during banking days, subject to a prescribed cut-off of 2PM for same day transmittal to the receiving bank. Transactions received after cut-off, on holidays or weekends will be processed for transmission to the receiving bank on the next banking day.

Log into your HSBC Mobile app. Select Pay & Transfer. Select Send Money Internationally. Select Country or Territory.

For all PESONet / InstaPay transactions, as long as a valid account number is provided, is considered final and can no longer be cancelled. Hence, we encourage you to ensure the accuracy of the account numbers that you indicate in all PESONet and InstaPay transactions.

Enter Remittance Reference Number: To check the status of Instapay and PESONet transfers via BankCom [Personal], simply enter the 14-digit reference code sent to you without dashes and spaces.

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.

If you're transferring money online to another one of your HSBC accounts, there is no limit to how much you can move.

What should I do if I have concerns or questions on my InstaPay or PESONet transaction? For inquiries or concerns on your InstaPay or PESONet transaction, you may call our 24/7 Customer Experience Hotline at (02) 8845-8888, e-mail us at [email protected] or visit any PSBank Branch.

International Payments through Online Banking

If you don't wish to use Global Money, you can also send money abroad through online banking. Fees may apply. To make an international payment you will need to hold any account with HSBC (except a standalone ISA account) and be registered for online banking.

What is the wire transfer limit for HSBC? ›

The maximum outbound and inbound Global Transfers limit for U.S. HSBC accounts is $200,000 per transaction and per day. Other countries may have local limit restrictions. Check with your destination country for limit information.

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.

How long a PESONet transfer takes depends on whether you send the funds before or after the transfer cut-off time. To avoid the inconvenience of a PESONet delayed transfer, make sure to follow your bank's clearing times.

Transfers on UnionBank Online via Pesonet shall be credited on or before 11:00PM of the same banking day for transactions that meet the 3:00 PM cut-off. Transfers via Pesonet made after the 3:00 PM cut-off, weekends or holidays, are credited on or before 11:00 PM on the next banking day.

If money is transferred but not received, the sender should contact the bank or service used to initiate the transfer to track the transaction. They can also contact the recipient's bank to inquire if the funds have been received.

HSBC Holdings plc (Chinese: 滙豐; acronym from its founding member The Hongkong and Shanghai Banking Corporation) is a British universal bank and financial services group headquartered in London, England, with historical and business links to East Asia and a multinational footprint.

For example: a business or government agency who is a customer of Bank A, can pay another business, government agency or person who is a customer of Bank B, or an employee who is a customer of E-money Issuer C.

PESONet and InstaPay are operated by the Philippine Clearing House Corp. and BancNet Inc., respectively. The two payment systems are expected to comply with international standards that foster safe, efficient, and reliable operations, particularly those provided under BSP Circular No.

HSBC UK Bank plc is one of the four major clearing banks in the United Kingdom. The business ranges from the traditional high street roles of personal finance and commercial banking, to private banking, consumer finance as well as corporate and investment banking.