Sending Money Overseas Limit Uk

{"menuItems":[{"label":"HSBC foreign exchange rates","anchorName":"#hsbc-foreign-exchange-rates"},{"label":"Membership Types with HSBC Bank Canada","anchorName":"#membership-types-with-hsbc-bank-canada"},{"label":"Fee structure for international money transfers","anchorName":"#fee-structure-for-international-money-transfers"},{"label":"Minimum transfer amount and available countries","anchorName":"#minimum-transfer-amount-and-available-countries"},{"label":"Registration and transfer process","anchorName":"#registration-and-transfer-process"},{"label":"What are the pros and cons of using HSBC?","anchorName":"#what-are-the-pros-and-cons-of-using-hsbc"},{"label":"Compare HSBC to other money transfer services","anchorName":"#sites-like"},{"label":"Frequently asked questions","anchorName":"#frequently-asked-questions"}]}

With a network of over 140 branches across Canada, HSBC Bank Canada is one of the leading international bank in the country, helping companies and individuals to manage their funds internationally with global banking and market services. With around 7,200 offices in over 80 countries and territories, HSBC allows clients to seamlessly transfer funds between their eligible international HSBC deposit accounts.

HSBC foreign exchange rates

HSBC Bank Canada foreign exchange rates are comparable with other banks in Canada. While exchange rates change frequently to keep pace with market fluctuations, as a Premier or Advance client, you can take advantage of HSBC's Global Transfers service which entitles you to preferential exchange rates. The rates below are examples as of early 2018, so check more current rates before making decisions.

Currency Code	(Bank Buys) IMT	(Bank Sells) IMT
AUD	0.9610	1.0170
CAD	1.0176	0.9641
CHF	1.3377	1.3727
CNY	0.1922	0.2022
EUR	1.5216	1.6036
GBP	1.7186	1.8026
HKD	0.1576	0.1626
INR	0.0193	0.0198
JPY	0.0115	0.0120
NZD	0.8985	0.9485
PHP	0.0227	0.0252
SGD	0.9416	0.9666
THB	0.0390	0.0409
SEK	0.1521	0.1621
USD	1.2265	1.2777

Rates updated as of 15 February 2018 (subject to change). You can visit HSBC directly by clicking "Go to Site" on the interactive transfer comparison table at the top of the page.

Membership Types with HSBC Bank Canada

When it comes to completing international money transfers with HSBC Bank Canada, there are two types of privileged memberships.

Premier Customers. Must hold $100,000 in personal deposit and/or investment balances to qualify for this membership.
Advance Customers. Must hold a personal deposit and/or investment balance of $25,000 or total aggregate personal mortgage balances of $150,000 with HSBC in Canada to qualify for this membership.

Holding one of these memberships can help to significantly reduce fees for international money transfers.

Fee structure for international money transfers

HSBC Bank Canada enables Premier and Advance account holders to seamlessly send money overseas by transferring funds between their eligible personal HSBC accounts, both in-branch and online. Outgoing fees are based on account membership (ie. Premier, Advance or Other) and vary according to amounts being transferred. For example, if you send <$10,000 overseas, the outgoing fees will fluctuate in accordance with the table below.

Transaction Type	HSBC Premier	HSBC Advance	Other Personal Accounts
In-Branch	$30	$40	$45
Personal Internet Banking	$15	$30	$40

Fees for other eligible amounts and services to domestic or international financial institutions are outlined on the company website.

Minimum transfer amount and available countries

HSBC Bank Canada Premier and Advance customers can conveniently transfer funds between eligible personal HSBC accounts in over 30 countries. For these accounts, HSBC Bank Canada operates two platforms – Global View and Global Transfers – to make viewing, managing and transferring money between personal HSBC accounts worldwide incredibly simple. Minimum transfer amount is $10 while max transfer amount is $150,000.

Registration and transfer process

Obtaining 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 (a small device protected by a PIN code) which can be obtained from an HSBC Bank Canada branch or received 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 personalized username and password.
Activate online security device.

To send a domestic or international transfer, you'll need to know the recipient's banking information, including the recipient's full name, address and bank account number. You will also need the recipient's bank ABA Routing Number or SWIFT Number and the bank's name and full address.

What are the pros and cons of using HSBC?

Pros

Secure money transfer. HSBC Bank Canada is committed to protecting your money and personal information through two factor authentication which involves both encryption and a portable PIN-protected security device.
Wide coverage. With around 7,200 offices in over 80 countries and territories, and 140 branches across Canada, HSBC Bank Canada lets you transfer money overseas from just about anywhere, hassle-free.
Mobile banking. Manage and access your eligible accounts, monitor international transfers, send and receive secure BankMail and view your balances and transactions, all with the click of a mouse.
Instant transfers. Make instant money transfers between your domestic HSBC and international accounts.

Cons

High fees. A transfer fee is charged for each outgoing transfer, which can be as high as $50.
Transfer limits. There is a minimum limit of $10 and a maximum limit of $150,000.

Compare HSBC to other money transfer services

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Frequently asked questions

Can I stop or cancel a transfer?
When is the HSBC SWIFT code needed?

Immediate transfers cannot be cancelled, although scheduled transfers can be cancelled up to a day before the request is implemented. You can schedule transfers for up to 18 months in advance.

You are required to use this code on outgoing transfers and on any incoming money transfers to your Canadian HSBC account from international bank accounts.

You may also be interested in

How to send money home for the holidays from Canada

{"menuItems":[{"label":"Compare money transfer services below","anchorName":"#compare-money-transfer-services-below"},{"label":"Banks versus money transfer companies","anchorName":"#banks-versus-money-transfer-companies"},{"label":"What factors should you consider when transferring money between Zambia and Canada?","anchorName":"#what-factors-should-you-consider-when-transferring-money-between-zambia-and-canada"},{"label":"How to send money to Zambia from Canada","anchorName":"#how-to-send-money-to-zambia-from-canada"},{"label":"Emergency cash transfers in Zambia","anchorName":"#emergency-cash-transfers-in-zambia"},{"label":"Steps to send money to Zambia","anchorName":"#steps-to-send-money-to-zambia"}]}

SPONSORED: How you can save when sending money abroad for festive occasions with Simplii Financial.

Read more…

Western Union fees explained

Here's what you need to know about Western Union fees and exchange rates for international money transfers from Canada.

Read more…

5 bonus features to look for in a money transfer provider

SPONSORED: From cashback to super low fees, here are the Top 5 bonus features to look for in a money transfer—and how Simplii Financial can help you.

Read more…

Claire Horwood is a writer at Finder, specializing in credit cards, loans and other financial products. She has a Bachelor of Arts in Gender Studies from the University of Victoria, along with an Associate's Degree in Science from Camosun College. Much of Claire's coursework has focused on writing and statistics, with a healthy dose of social and cultural analysis mixed in for good measure. She has also worked extensively in the field of "Blended Finance" with the Canadian government. In her spare time, Claire loves rock climbing, travelling and drinking inordinate amounts of coffee.

More guides on Finder

Revolut alternatives in Canada
Looking for alternatives to Revolut? These challenger banks and financial apps may be just what you need.
Western Union fees explained
Here's what you need to know about Western Union fees and exchange rates for international money transfers from Canada.
Money transfer hacks for expats in Canada
SPONSORED: From getting cashback to referral rewards, here are the Top 5 ways expats in Canada can save on international money transfers.
How to send money to Canada
How to save money while sending money to Canada from other countries. Compare international money transfer services, and save on exchange rates and fees.
How to send money to the United States
How to send money to the USA, safely and affordably. Compare international money transfer services and save on exchange rates and fees.