Global Money Transfers allows you to send money to anyone, anywhere in the world using the HSBC Expat Mobile Banking app. Transfers are fee-free until 31 March 2023.
What's the difference between Global Transfers and Global Money Transfers?
Global Transfers allows you to transfer money between your own HSBC accounts. Global Money Transfers lets you pay money to other people's accounts, including those outside HSBC. Where available, Global Transfers is still the fastest option to transfer money between HSBC accounts.
Who can use Global Money Transfers?
You can use Global Money Transfers using the HSBC Expat Mobile Banking App. It's available with any of your accounts that have payments functionality, such as the HSBC Current Account, Instant Access Savings and Global Money.
Who can I send a Global Money Transfer to?
Global Money Transfers can be used to send payments all around the world, including accounts outside of HSBC.
Some banks will not accept payments in all currencies. Please ensure that the receiving account is able to process the currency of your payment before sending.
As with all of our international payment services, regulatory restrictions apply to certain countries/territories.
What device can I use to make Global Money Transfers?
You'll need to use a mobile device with an iOS or Android operating system.
How much can I send each day using HSBC Global Money Transfers?
The daily limit for payments Global Money Transfers is £100,000 or currency equivalent. This applies to all payments made through the service in a day, regardless of which account you make the payment from.
Which currencies can I send using Global Money Transfers?
You can make payments using the following currencies:
Global Money Transfers generally take 1 to 3 business days. However, depending on the currency you send and its destination country, you may be able to access even faster payment times. Please see our International Transactions page for more details.
Global Money Transfers are fee-free until 31 March 2023.
Are correspondent bank fees still applicable for Global Money Transfers?
No, there are no correspondent bank fees applicable to payments made through Global Money Transfers.
How do I confirm my exchange rate for Global Money Transfers?
Foreign exchange rates are displayed throughout the payment pages on the app. All conversions and foreign exchange rates are indicative only and are updated every 90 seconds during market hours. The final rate will be displayed and set as you confirm the transfer.
When are real time foreign exchange rates available for Global Money Transfers?
Real time rates are available at any time for Expat customers but depend on the currency and country rail opening and closing times. Exchange rates are subject to a higher bank spread during market closure.
Why has the person I've sent a payment to received a charge?
Even if you have elected for the recipient to pay no HSBC fees, some banks will apply charges to an incoming international transaction. HSBC has no control over what a receiving bank may charge.
On your HSBC Expat app, go to 'Pay and Transfer', then select 'Send Money Internationally'. You'll then be guided through a series of questions to ensure your payment reaches its destination safely, including the country, currency and account details of the payee. You may also be asked for some additional information such as the payee's address or the purpose of the payment depending on local regulations of that country.
Can I add in additional details about the payment, such as the invoice number, and so on?
Yes, the payment reference field can be used for any additional details.
Can I track a payment I've made to make sure it arrives?
You can check the payment status by clicking on the payment in your transaction history. The payment will appear under the date of its latest status update, not the date when it was sent.
Can I have the future dated and recurring payments through Global Money Transfers?
Currently, we don't support future dated and recurring Global Money Transfers.
Can I cancel a Global Money Transfer once sent?
No, as transactions are sent instantly, they can't be cancelled. Please contact us to discuss your options if you have sent a payment in error.
You can add a payee as part of the Global Money Transfers journey. When you reach the payee screen, select the 'Add Payee' button above your existing payees.
For security purposes, you will also need to verify the new payee with your 6-Digit PIN, Touch ID or Face ID depending on your mobile device and app settings.
What information do I need to send money to a new payee?
The required details vary by country but may include:
bank code / Account Number or IBAN
payee full name
payee address
purpose of payment
Why do I need to add a purpose of payment?
For some countries or regions, it's a regulatory requirement to include information about why the funds are being sent. Please select the most relevant option from the drop down menu presented in the app (this will vary by country or region).
What is the maximum characters allowed in the beneficiary name field?
A maximum 35 characters is allowed in the beneficiary name field. We recommend you prioritise the primary surname if the name is over 35 characters, with other names added as initials.
Can I edit or delete a payee's details?
At the moment, you can't amend a saved payee's details, although we are working to make this available soon. If a payee's account details have changed, you'll need to add them as a new payee. You can use the account nickname to differentiate between accounts for the same payee.
Why can I not see my saved payee?
Global Money Account
The Global Money Account has a separate payee list and won't display payees added through other channels. You'll need to add the payee again if you'd like to use your Global Money Account to make the payment.
Equally, a payee added to the Global Money Account won't appear when making a payment from your other accounts. You'll need to add this payee again if you would like to make the payment from your current or savings account.
Country and currency
When making an international payment, first select the country and currency of the payment. If the account details of your payee don't match these options, then the account won't be displayed. Please check to ensure that the country and currency match the account you're trying to pay.
What information will the person I'm sending the money see?
This varies from bank to bank and country to country. Some local payment schemes won't show all the information you may have used when sending the payment.
It's worth completing the payment reference and sharing the details of the payment being sent, particularly for Australia, New Zealand, Canada and HK payments as very limited detail may be shown on their customer's statements.
Please note the recipient may also see the payee nickname you've used to store their details within the mobile banking app.
How can I show or confirm the payment details of the person I'm sending it to?
You can share the payment details using the app when you make the payment.
When the estimated arrival date is confirmed, you can use the share icon, which is a small upwards arrow in a box at the top right of the screen, to send the payment details to the recipient using email, text or instant messenger.
If the payment to China is over USD 5,000 (or currency equivalent of USD 4,800) it requires a further regulatory declaration. Currently, the the Global Money Transfer is unable to complete this.
You can make the payment online using desktop, or by phone instead.
