Global Money Transfers FAQ

On this page

• General enquiries
• Fees, charges & exchange rates
• Making payments

To reduce the chances of delays or rejection, please confirm the following with your recipient:

• Full name – exactly as registered with their bank
• Account number / IBAN – double-check for accuracy
• SWIFT / BIC code – ensure it is correct
• Currency – confirm the account can receive the selected currency

Even small errors can result in delays or rejected payments.

Transfer times vary depending on the destination, currency, and receiving bank.

While most transfers can be completed within 4 business days, some may take longer due to:

• Bank processing times and cut-off hours
• Weekends or public holidays
• Intermediary (correspondent) bank processing
• Regulatory or security checks

Delays can happen when the transfer is still being processed by intermediary or receiving banks.

In some cases, the receiving bank may require additional information before completing the transfer.

As part of standard security and regulatory checks, banks involved in the transfer (including intermediary or beneficiary banks) may request more details before a payment can be processed.

When this happens:

• The payment may be temporarily held while the request is reviewed
• HSBC Singapore may contact you on behalf of the intermediary or beneficiary bank to obtain the required information
• You should expect contact via your registered personal details, such as phone or email
• The transfer will be completed once the required information is provided and checks are satisfied

• Ask your recipient to check with their bank for any pending requests
• Ensure any requested information is provided promptly

The receiving bank makes the final decision on whether to accept the funds. Common reasons for rejection include:

• Incorrect account details (account number, IBAN, SWIFT / BIC)
• Name mismatch with bank records
• Recipient account issues (eg closed, frozen, or unable to receive funds)
• Regulatory or compliance checks

If you require further information, please contact us.

Returned amounts may be lower due to:

• Intermediary bank fees deducted during processing and are outside our control
• Foreign exchange (FX) rate differences if currency conversion was involved

If you require further information regarding a returned transfer, please contact us.

International transfers may pass through one or more intermediary (correspondent) banks before reaching the beneficiary bank. These banks can apply handling fees for processing the payment.

In some cases, intermediary or beneficiary bank fees are confirmed after the transfer is processed. When this happens, we may debit your account at a later date once we receive the fee claim, so you might see the fee a few days after the original transfer date.

Important to know:

• HSBC will not be able to confirm the exact amount of intermediary / beneficiary bank fees in advance, as these are set by the other banks involved
• If the payment is returned, additional fees may also be deducted during the return journey

If you require further information, please contact us.

If your transfer involved currency conversion:

• The original transfer uses the exchange rate at that time
• A returned transfer is converted again using the prevailing rate

As exchange rates fluctuate, the returned amount may differ from the original.

If you require further information, please contact us.

Transfer fees are generally not refundable, as the payment has already been processed through the international banking network.

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.

You'll need to use a mobile device powered by iOS® or AndroidTM operating system. HSBC Global Money Transfers are currently not compatible with tablets.

*The maximum daily transfer limit is SGD250,000 (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 Hong Kong via 'Send like a local', the maximum daily limit is HKD1,000,000.

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

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. You can still transfer foreign currencies via SWIFT.

No, you cannot cancel your UnionPay card transfer instruction. If you've made a transfer by mistake or provided incorrect information, we won't be able to stop the payment and return the funds to you. You can directly contact the recipient in case of any errors.

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

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.

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.

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

However, some banks may charge a fee for incoming international transfers. Payees will need to check with their banks on what these charges are. 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.

On your HSBC Singapore app, go to Pay and transfer 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).

You will need the payee's bank account details, payee's full name and payee's address (optional in some cases) to send money.

Depending on the destination and transfer method, you may also need the following details:

• Bank code/sort code
• SWIFT BIC (Bank Identifier Code)
• IBAN (International Bank Account Number)
• Purpose of payment
• Payee ID number/type
  
• Payee phone number
  
• Payee email address

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.

During the transfer journey, you can select any of your eligible payees filtered based on the receiving country/territory and receiving currency. You can also access all your international payees on the Pay and transfer tab.

Note: While making Online Banking transfers, you will not see any of your international payees or HSBC payees added via the mobile app.

Footnotes

¹ 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.