Overview

Are there limits on transaction transfers?

Yes, a Daily Limit can be set, ranging from S$25,000 (default) to S$1,000,000. You can increase or decrease your online limits by instantly selecting "Change Internet Banking Limits" from Internet Banking - Transfer menu. Please note that the Worldwide Transfer daily limits are shared with other third party daily transfer limits.

When I transfer money overseas, is the transfer effective immediately?

This depends on the nature and timing of the transaction. 

If your transaction request is completed after the cut off time, it will be processed at the next business day and you will see the following message: "You have completed your transaction after the daily cut-off, therefore, your remittance transfer will not be processed until the next business day". 

Your transaction may be routed through intermediary banks and final credit to the end beneficiary is dependent on the processing by the different banks in the transaction chain. The funds could be credited to your beneficiary either on same business day or up to 5 business days after your instructions are received, subject to clearing and settlement by the banks in the chain.

Can I transfer funds on a public holiday?

Yes, you may submit your instruction on a public holiday in Singapore or in the country to which you are sending your funds to. The transaction will be executed at the exchange rate indicated by the bank and accepted by you before the rate lapses. Your account will be debited with the amount of the remittance immediately and the telex will only be sent to the beneficiary on the next business day (if it is a public holiday in Singapore or the telex will be sent on the same day (if the instruction is received before the cut-off time) and the beneficiary bank will process the payment on the next business day (if it is a public holiday in the beneficiary country).

Why are there so many options to determine when and how often my transfer is made?

There are essentially 3 ways to instruct us when you want your transfer effected:

  1. To make the transfer immediately (if submitted within cut-off time) or the next available opportunity (at the start of the next business day).
  2. To make the transfer at a later date pre-defined by you (thus you need to indicate the exact date you want us to make the transfer). If this date does not fall on a business day, we will process your instruction at the start of the next business day. The transaction will be executed at the exchange rate indicated by the bank on the date specified by you.
  3. To make more than one frequency of the same transfer for a set period. This ensures that you only need to give us the details of your transfer once and we will follow your instruction for when and how often you wish to make the same transfer. The transaction will be executed at the exchange rate indicated by the bank at the time of the transfer.

How can I save my transfers?

All transfers can be saved by clicking save beneficiary once the details have been validated.  This will save you time if you need to send money to the same beneficiary again.

What are the regulations on 3rd party Worldwide Transfers?

In accordance with the bank's policies on anti-money laundering and countering of terrorism financing regulation, the remitter's name, account number and address (as held in the bank's records) will be included in the transfer message. Without limiting any other terms and conditions applicable to the remitter's accounts with the bank, by initiating the telegraphic transfer the remitter consents to the inclusion in the message of these details and/or any other information referred to in any relevant anti-money laundering and countering of terrorism financing regulation.

Is there a requirement on the minimum and maximum transaction amount for Worldwide Transfers?

For Personal Internet Banking users, transaction amounts should be in the range of S$1 to S$1,000,000. 

Rates and fees

How much do I have to pay to make transfers to overseas accounts with a bank other than HSBC?

For more details on the various charges imposed on certain transactions, click on Tariff of Charges on the navigation bar. 

Can I choose different ways to pay the transfer fees and charges?

Yes, you can choose to pay the transfers fees and charges by yourself, or share them with the beneficiary, or choose for them to be fully borne by the beneficiary. If you choose to share the transfer fees and charges with the beneficiary, the fees and charges levied by the remitting bank will be borne by you and the fees and charges levied by the receiving bank will be borne by the beneficiary. Please ensure there are enough funds in the account you are debiting from to cover the transfer fees and charges. 

Do the people I send money to have to pay anything?

They will normally have their own bank's charges to bear for receiving your funds, depending on the handling by the beneficiary bank. In addition, if you had indicated that the overseas fees and charges imposed by the remitting bank are to be borne by the party receiving funds, your beneficiary will also have to bear these fees and charges. 

How do I confirm my exchange rate in Worldwide Transfer?

The exchange rate indicated by the bank will be displayed for 20 seconds. To secure the rate, simply click on 'Confirm' before the rate expires. 

Can I book the current foreign exchange rate for future dated transfers?

No, the exchange rate indicated by the bank only applies to immediate transfers. The exchange rates executed for future-dated transfers will be based on the exchange rate indicated by the bank on the day the instruction is effected. 

Can I request for another foreign exchange rate?

You may request for another exchange rate after the timer displayed expires. Click on 'Refresh' to obtain a new exchange rate indicated by the bank. Once you click "Confirm", the new exchange rate will be the agreed rate for execution of the transaction and you cannot request for another exchange rate for the same transaction.

Cut-off times

Are the cut-off times according to Singapore time (GMT+8)?

Yes. All the times listed in the table are in Singapore time (GMT+8).

Currency and cut-off times

Currency

Value Today Ccy cutoff time in Flexrate

Roll to next value when cutoff time passed?

Can you make same day value payment on currency holiday? (Y/N)

Can you make same day value payment on local holiday? (Y/N)

Can you make same day value payment on US holiday? (Y/N)

AED

11:59

Y

N (Every Friday)

N

N

AUD

10:00

Y

N

N

N

CAD

15:30

Y

N

N

N

CHF

15:00

Y

N

N

N

CNH

16:00

Y

N

N

N

DKK

14:00

Y

N

N

N

EUR

16:30

Y

N

N

N

GBP

16:30

Y

N

N

N

HKD

14:00

Y

N

N

N

INR

10:00

Y

N

N

N

JPY

8:00

Y

N

N

N

LKR

10:00

Y

N

N

N

NOK

14:00

Y

N

N

N

NZD

9:30

Y

N

N

N

PHP

23:59

Y

N

N

N

SEK

14:00

Y

N

N

N

SGD

15:00

Y

N

N

N

THB

8:30

Y

N

N

N

USD

17:30

Y

N

N

N

ZAR

14:00

Y

N

N

N

Currency and cut-off times

Currency

AED

Value Today Ccy cutoff time in Flexrate

11:59

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N (Every Friday)

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Currency

AUD

Value Today Ccy cutoff time in Flexrate

10:00

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Currency

CAD

Value Today Ccy cutoff time in Flexrate

15:30

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Currency

CHF

Value Today Ccy cutoff time in Flexrate

15:00

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Currency

CNH

Value Today Ccy cutoff time in Flexrate

16:00

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Currency

DKK

Value Today Ccy cutoff time in Flexrate

14:00

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Currency

EUR

Value Today Ccy cutoff time in Flexrate

16:30

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Currency

GBP

Value Today Ccy cutoff time in Flexrate

16:30

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Currency

HKD

Value Today Ccy cutoff time in Flexrate

14:00

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Currency

INR

Value Today Ccy cutoff time in Flexrate

10:00

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Currency

JPY

Value Today Ccy cutoff time in Flexrate

8:00

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Currency

LKR

Value Today Ccy cutoff time in Flexrate

10:00

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Currency

NOK

Value Today Ccy cutoff time in Flexrate

14:00

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Currency

NZD

Value Today Ccy cutoff time in Flexrate

9:30

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Currency

PHP

Value Today Ccy cutoff time in Flexrate

23:59

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Currency

SEK

Value Today Ccy cutoff time in Flexrate

14:00

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Currency

SGD

Value Today Ccy cutoff time in Flexrate

15:00

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Currency

THB

Value Today Ccy cutoff time in Flexrate

8:30

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Currency

USD

Value Today Ccy cutoff time in Flexrate

17:30

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Currency

ZAR

Value Today Ccy cutoff time in Flexrate

14:00

Roll to next value when cutoff time passed?

Y

Can you make same day value payment on currency holiday? (Y/N)

N

Can you make same day value payment on local holiday? (Y/N)

N

Can you make same day value payment on US holiday? (Y/N)

N

Will my instruction be carried out if I miss the cut-off times?

Yes, the instruction will still be carried out. The transaction will be executed at the exchange rate indicated by the bank and accepted by you before the rate lapses.

However, it can only be processed on the next business day. Thus if you submit a telegraphic transfer request on Friday at 8pm (Singapore time – GMT+8) to a bank overseas, this will be received by our system (evident from the acknowledgement received by you) and stored until Monday morning whereby the payment will be sent to your beneficiary.

What is the exchange rate cut-off time for the service?

For World Wide transfers, the exchange rates used are priced 24 hours a day 5.5 days per week. They are variable and are changing constantly quoted every 20sec, reflecting the movements in foreign exchange markets. On weekends and Public Holidays, we use the exchange rate saved at the close of business on the previous business day. 

Is the bank able to confirm the beneficiary account number so my instruction is not rejected?

We are unable to verify beneficiary account information. Verification procedures adopted in different banks/countries may vary. Example for some banks both account number and account name is used to verify inward remittances. Customer is advised to ensure beneficiary account information provided is complete and correct. 

IBANs and SWIFT BIC codes

What are IBANs and SWIFT BIC codes?

These are international bank code that identifies particular banks worldwide.

SWIFT codes also known as Bank Identifier Codes (BIC) are used to send money overseas or receive inward remittances in most cases.

IBAN stands for International Bank Account Number. It is a new format for an existing bank account number that will be recognised internationally. You may need to use an IBAN when you make or receive cross border payments for certain countries that mandate the use of IBAN for International payments.

IBAN = Country code + Check number +Bank Code + Bank Account Number

It's a way of identifying a bank account which cuts down errors and delays in international payments. Not using an IBAN will slow down your payment for manual checking and possibly incur charges at the receiving bank. The IBAN is designed to increase the speed and accuracy of International Payments by adding a standard prefix to existing domestic account numbers.

However, this is not a replacement for existing account numbers; the IBAN merely compliments what is already there. Additional characters will appear in front of the account number, including a 2 letter country code. The information your beneficiary provides may or may not state the word IBAN, but must contain a two-letter country code which appears in front of existing bank code/account numbers, for example:

Austria = AT, Germany = DE, France = FR

These two letters will always be followed by a two-digit (check number) which should be obtained by the beneficiary Bank.

Example of UK HSBC IBAN components:

Country Code: GB 
Check number: 09 
Bank Code: MIDL 
Sort code: 404517 
Account number: 00234573
IBAN to enter in Account number: GB09MIDL40451700234573
 

Example of other countries/banks IBAN components:

Country Code: AT 
Check number: 61: 19043 
Account number: 00234573201
IBAN to enter in Account number: AT611904300234573201

IBANs include all the necessary details for a receiving bank to apply the payment directly to a beneficiarys bank account without any manual intervention. An IBAN contains information relating to the country, bank and branch of the beneficiary as well as the account number itself. 

IBAN numbers must be accompanied by the SWIFT BIC code of the beneficiary bank. You may need to use an IBAN when you make or receive cross border payments for certain countries that mandate the use of IBAN for International payments. When an IBAN is processed electronically, it must not contain spaces and must not include the word 'IBAN'

IBANs are different in length (please see country list below):

Countries needing IBAN

IBAN length

IBAN prefix

Albania

28

AL

Andorra

24

AD

Austria

20

AT

Bahrain

22

BH

Belgium

16

BE

Bosnia and Herzegovina

20

BA

Bulgaria

22

BG

Croatia

21

HR

Cyprus

28

CY

Czech Republic

24

CZ

Denmark

18

DK

Estonia

20

EE

Faroe Islands

18

FO

Finland

18

FI

France

27

FR

Germany

22

DE

Gibraltar

23

GI

Greece

27

GR

Greenland

18

GL

Hungary

28

HU

Iceland

26

IS

Ireland

22

IE

Israel

23

IL

Italy

27

IT

Kuwait

30

KW

Latvia

21

LV

Liechtenstein

21

LI

Lithuania

20

LT

Luxembourg

20

LU

Lebanon

28

LB

Macedonia

19

MK

Malta

31

MT

Mauritius

30

MU

Monaco

27

MC

Montenegro

22

ME

Netherlands

18

NL

Norway

15

NO

Poland

28

PL

Portugal

25

PT

Romania

24

RO

San Marino

27

SM

Saudi Arabia

24

SA

Serbia

22

RS

Slovak Republic

24

SK

Slovenia

19

SI

Spain

24

ES

Sweden

24

SE

Switzerland

21

CH

Tunisia

24

TN

Turkey

26

TR

UK

22

GB

UAE

23

AE

IBANs are different in length (please see country list below):

Countries needing IBAN

Albania

IBAN length

28

IBAN prefix

AL

Countries needing IBAN

Andorra

IBAN length

24

IBAN prefix

AD

Countries needing IBAN

Austria

IBAN length

20

IBAN prefix

AT

Countries needing IBAN

Bahrain

IBAN length

22

IBAN prefix

BH

Countries needing IBAN

Belgium

IBAN length

16

IBAN prefix

BE

Countries needing IBAN

Bosnia and Herzegovina

IBAN length

20

IBAN prefix

BA

Countries needing IBAN

Bulgaria

IBAN length

22

IBAN prefix

BG

Countries needing IBAN

Croatia

IBAN length

21

IBAN prefix

HR

Countries needing IBAN

Cyprus

IBAN length

28

IBAN prefix

CY

Countries needing IBAN

Czech Republic

IBAN length

24

IBAN prefix

CZ

Countries needing IBAN

Denmark

IBAN length

18

IBAN prefix

DK

Countries needing IBAN

Estonia

IBAN length

20

IBAN prefix

EE

Countries needing IBAN

Faroe Islands

IBAN length

18

IBAN prefix

FO

Countries needing IBAN

Finland

IBAN length

18

IBAN prefix

FI

Countries needing IBAN

France

IBAN length

27

IBAN prefix

FR

Countries needing IBAN

Germany

IBAN length

22

IBAN prefix

DE

Countries needing IBAN

Gibraltar

IBAN length

23

IBAN prefix

GI

Countries needing IBAN

Greece

IBAN length

27

IBAN prefix

GR

Countries needing IBAN

Greenland

IBAN length

18

IBAN prefix

GL

Countries needing IBAN

Hungary

IBAN length

28

IBAN prefix

HU

Countries needing IBAN

Iceland

IBAN length

26

IBAN prefix

IS

Countries needing IBAN

Ireland

IBAN length

22

IBAN prefix

IE

Countries needing IBAN

Israel

IBAN length

23

IBAN prefix

IL

Countries needing IBAN

Italy

IBAN length

27

IBAN prefix

IT

Countries needing IBAN

Kuwait

IBAN length

30

IBAN prefix

KW

Countries needing IBAN

Latvia

IBAN length

21

IBAN prefix

LV

Countries needing IBAN

Liechtenstein

IBAN length

21

IBAN prefix

LI

Countries needing IBAN

Lithuania

IBAN length

20

IBAN prefix

LT

Countries needing IBAN

Luxembourg

IBAN length

20

IBAN prefix

LU

Countries needing IBAN

Lebanon

IBAN length

28

IBAN prefix

LB

Countries needing IBAN

Macedonia

IBAN length

19

IBAN prefix

MK

Countries needing IBAN

Malta

IBAN length

31

IBAN prefix

MT

Countries needing IBAN

Mauritius

IBAN length

30

IBAN prefix

MU

Countries needing IBAN

Monaco

IBAN length

27

IBAN prefix

MC

Countries needing IBAN

Montenegro

IBAN length

22

IBAN prefix

ME

Countries needing IBAN

Netherlands

IBAN length

18

IBAN prefix

NL

Countries needing IBAN

Norway

IBAN length

15

IBAN prefix

NO

Countries needing IBAN

Poland

IBAN length

28

IBAN prefix

PL

Countries needing IBAN

Portugal

IBAN length

25

IBAN prefix

PT

Countries needing IBAN

Romania

IBAN length

24

IBAN prefix

RO

Countries needing IBAN

San Marino

IBAN length

27

IBAN prefix

SM

Countries needing IBAN

Saudi Arabia

IBAN length

24

IBAN prefix

SA

Countries needing IBAN

Serbia

IBAN length

22

IBAN prefix

RS

Countries needing IBAN

Slovak Republic

IBAN length

24

IBAN prefix

SK

Countries needing IBAN

Slovenia

IBAN length

19

IBAN prefix

SI

Countries needing IBAN

Spain

IBAN length

24

IBAN prefix

ES

Countries needing IBAN

Sweden

IBAN length

24

IBAN prefix

SE

Countries needing IBAN

Switzerland

IBAN length

21

IBAN prefix

CH

Countries needing IBAN

Tunisia

IBAN length

24

IBAN prefix

TN

Countries needing IBAN

Turkey

IBAN length

26

IBAN prefix

TR

Countries needing IBAN

UK

IBAN length

22

IBAN prefix

GB

Countries needing IBAN

UAE

IBAN length

23

IBAN prefix

AE

Can I check if a Euro/UK region IBAN is correct?

You can check an IBAN quoted to you is configured correctly by visiting the Association for Payment clearing services (APCS) website. However, this check cannot verify the actual existence of the account. 

Where can I get hold of the IBAN details of the person/organisation I want to pay?

The usual way to obtain BIC and IBAN is to contact the beneficiary directly and request the details from them. 

How can I check if the IBAN is correct?

You can check an IBAN quoted to you is configured correctly by visiting the Association for Payment clearing services (APCS) website. However, this check cannot verify the actual existence of the account. 

Where do I input the IBAN information?

Please enter the "IBAN (International Bank Account Number)" in the beneficiary's IBAN number/account Number field.