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Global Money Transfers FAQ

Frequently asked questions

General enquiries

What is HSBC Global Money Transfers?

Global Money Transfers is an international transfer service available on the HSBC Singapore app. You can use it to send money faster and fee-free1 to anyone, anywhere in the world.

What do I need to use this service?

To start using HSBC Global Money Transfers, you'll need:

  • an HSBC Everyday Global Account
  • to be able to access the HSBC Singapore app

What device can I use to make Global Money Transfers?

You'll need to use a mobile device powered by iOS® or AndroidTM operating system. HSBC Global Money transfers don't currently support tablets.

How much money can I send each day using HSBC Global Money Transfers?

That depends on which type of account you're sending money to.

Sending to Maximum daily limit
Accounts held in other banks
Up to SGD1,000,000 (or its equivalent in foreign currency)*
China via UnionPay cards issued in Mainland China
Up to USD10,000 (with a single transaction limit of USD5,000)
Other third-party HSBC accounts
Up to SGD1,000,000 (or its equivalent in foreign currency)*

Up to USD4,800 (or its equivalent in foreign currency) in a single transaction for transfers to HSBC China accounts**

That depends on which type of account you're sending money to.

Sending to Accounts held in other banks
Maximum daily limit
Up to SGD1,000,000 (or its equivalent in foreign currency)*
Sending to China via UnionPay cards issued in Mainland China
Maximum daily limit
Up to USD10,000 (with a single transaction limit of USD5,000)
Sending to Other third-party HSBC accounts
Maximum daily limit
Up to SGD1,000,000 (or its equivalent in foreign currency)*

Up to USD4,800 (or its equivalent in foreign currency) in a single transaction for transfers to HSBC China accounts**

*The maximum daily transfer limit is SGD1,000,000 (or its equivalent in foreign currency), or up to the maximum daily limit you've set for third-party account transfers, whichever is lower.

If you're sending money to accounts in the United Kingdom or Hong Kong via the 'Send like a local' service, the maximum daily limit is GBP250,000 and HKD1,000,000 respectively.

**For transfers above the limit, please use HSBC Online Banking.

Where can I send money to using HSBC Global Money Transfers? In what currencies?

Can I have the future dated and recurring Global Money Transfers?

We don't currently support future dated and recurring Global Money Transfers.

Are there any restrictions on who can receive transfers using UnionPay card numbers?

You can only transfer money to China via UnionPay cards issued in Mainland China if the payee is a Chinese citizen with a Chinese ID. If the payee is not a Chinese citizen or does not hold a Chinese ID, you won't be able to use this service.

Please refer to the UnionPay International website on the domestic receiving institutions of Mainland China.

Can I cancel my UnionPay card transfer instruction?

No, you cannot cancel your UnionPay card transfer instruction. If you made a transfer in error or provided incorrect information, we may be unable to stop the payment or return the funds to you.

I have the payee's account details but not their bank name. Can I still make a transfer?

You can use HSBC Global Money Transfers even if you're unsure of the payee's bank name. If the bank account details match that of an HSBC account, we'll automatically route it through our systems for a faster and fee-free1 transfer.

Fees, charges and exchange rates

How much does the HSBC Global Money Transfer cost?

Most transfers via HSBC Global Money Transfers are fee-free1.

How do I confirm my exchange rate for Global Money Transfers?

All conversions and foreign exchange rates used or provided are indicative only and subject to change by the bank at any time, including intra-day changes, without notice. Foreign exchange rates are updated every 90 seconds during market hours. Please check the new rate and select 'Confirm' if you're happy to proceed. The final rate will be set when you confirm your transfer.

When are real time rates available for Global Money Transfers?

Real-time rates are available from Monday at 09:30 until Saturday at 05:00 Singapore Time, excluding bank holidays. Exchange rates are subject to a higher bank spread during market closure.

I sent a payment via HSBC Global Money Transfers. Why did my payee get charged for it?

Most Global Money Transfers are fee-free1 for both the sender and the payee.

But some banks may charge a fee for incoming international transfers. Payees will need to check with their banks on what these charges are as they will vary. The charges will be debited from the payee's account. We're unable to advise on the fees that other banks may charge for payments sent through Global Money Transfers.

Making payments

How do I send money with Global Money Transfers?

On your HSBC Singapore app, go to Move Money then select a country/territory to send to, enter an amount and select the account to send from. You'll also have to input payee account details such as payee name, bank code, account number and payee address (optional in some cases).

How do I add a payee?

You can add a payee as part of your journey during Send money internationally. You'll also need to input payee account details such as payee name, bank code, account number and payee address (optional in some cases).

What information do I need to send money?

Depending on the country/territory you are sending to, you'll need one or more of the following details:

  • Bank code/sort code
  • SWIFT BIC (Bank Identifier Code)
  • IBAN (International Bank Account Number)
  • Account number
  • Payee full name
  • Payee address
  • Purpose of payment

How long does it take for a payment sent via Global Money Transfers to arrive?

It can vary from almost instantaneous* to 4 business days. You'll be able to see the estimated arrival date when you review the transfer. The actual arrival date is subject to the receiving bank.

*For the United Kingdom, Switzerland, France, Germany, Netherlands, Luxembourg, Spain, Ireland, Portugal, Italy, Belgium, Austria, Cyprus, Greece, Malta only. The actual arrival date is subject to the receiving bank. For other countries/territories, you'll be able to see the estimated arrival date when you review the transfer.

Why can't I see some of my previously saved payees when I'm making a transfer?

Your saved payees will only appear if you select the same receiving country/territory and transfer method as you did when you saved them previously.

Footnotes

1 Most transfers are fee-free but some intermediary banks may charge fees. You can see an estimate of the applicable fees when you review your transfer. The actual amount is subject to the intermediary bank and will be debited after you've confirmed your transfer.

Some banks may charge for incoming international transfers. Your payees will need to check with their banks on these charges as they vary and will be debited from the payee's account. We are unable to advise you on the fees applied by other banks for payments sent through Global Money Transfers.

2 Real-time rates are available from Monday at 09:30 until Saturday at 05:00 Singapore Time, excluding bank holidays.

Foreign exchange transactions performed over the weekend and public holidays are subject to a higher bank spread compared to weekday transactions, as markets are closed during these times.