HSBC serves over 15 million customers in the UK and offers a comprehensive international money transfer service for both personal and business users.
With a range of services such as the Global Money Account, customers can send funds to over 200 countries without fees, access competitive exchange rates, and benefit from top-tier security.
This article explores the features, benefits, and costs of HSBC’s international transfer services, helping you determine if it’s the right choice for your cross-border payment needs.
Key Features
HSBC’s international money transfer services cater to both personal and business users, offering a secure, flexible, and cost-effective way to send and manage money across borders.
Global Money Account – Multi-Currency Transfers Without HSBC Fees
HSBC’s Global Money Account is designed for seamless international transactions, allowing users to send money in over 50 currencies to 200+ countries—without HSBC or intermediary bank fees.
Personal users can hold and convert up to 18 currencies, benefiting from HSBC UK’s best exchange rates. Business users, meanwhile, can efficiently manage foreign currency transactions, reducing costs and streamlining operations.
Transfers are processed through the HSBC UK Mobile Banking app, with live exchange rates available before sending. With transaction limits of up to £50,000 per day, it’s a flexible solution for both personal and business needs.
Competitive Exchange Rates and Transparent Fees
HSBC provides live exchange rates updated during market hours, ensuring transparency and cost efficiency.
Personal users can view rates in the mobile app before converting funds, allowing them to exchange currency when the rate is most favourable.
Business customers benefit from foreign exchange risk management tools, helping them hedge against currency fluctuations.
HSBC charges no fees for euro payments within the EEA or transfers between HSBC accounts globally. However, a £5 fee applies for non-EEA transfers unless using a Global Money Account, which remains fee-free.
Enhanced Security and Compliance
Security is a core focus of HSBC’s international money transfer services. The bank uses multi-factor authentication, fraud detection systems, and HSBC Safeguard to protect users from financial crime.
Business users benefit from additional compliance support, ensuring international payments meet regulatory requirements. Confirmation of Payee checks also helps prevent payment errors and fraud, adding an extra layer of security for individuals and businesses.
Business-Focused Payment Solutions
HSBC’s international payment services extend beyond simple transfers.
Businesses can use Priority Payments for high-value transactions or SEPA Credit Transfers for efficient euro payments across Europe.
HSBC also offers electronic funds transfer (EFT), BACS, and Faster Payments to facilitate local and international transactions. HSBC provides cheque processing services for companies dealing with international cheques to expedite access to overseas payments.
Cost-Effective Currency Holding Accounts
For those who frequently deal in foreign currencies, HSBC offers the Currency Account—a free-to-maintain account that lets you hold and manage up to 14 major currencies. This is particularly useful for businesses paying international suppliers and individuals wanting to lock in exchange rates before transferring.
Unlike traditional current accounts, the Currency Account allows users to store foreign currencies without constant conversions, reducing exposure to currency fluctuations.
Trackable Transfers & Transparent Processing Times
HSBC ensures transparency by providing real-time tracking for international payments through online and mobile banking.
Personal users can check estimated arrival times before sending money, while businesses using HSBCnet receive electronic updates on payment status.
Transfers within the EEA typically settle the next working day, while payments to other destinations may take up to four working days, depending on the currency and destination.
HSBC Pricing and Fees
HSBC offers a mix of fee-free and low-cost international money transfers, depending on the type of account used and the destination of the payment.
Fee-Free Transfers with HSBC Global Money Account
The Global Money Account is HSBC’s most cost-effective way to send money internationally. Users can transfer money in over 50 currencies to 200+ countries without HSBC or intermediary bank fees. However, recipients’ banks may still charge for receiving payments.
Standard International Payment Fees
For those not using a Global Money Account, HSBC applies different charges based on the destination and currency of the payment. Transfers between HSBC accounts and euro payments within the European Economic Area (EEA) are generally free, while other payments incur a small fee.
Fee Structure for HSBC International Transfers
The table below outlines HSBC’s international payment fees for different transfer methods:
| Payment Type | Online & Mobile App | Branch & Phone | Post |
|---|---|---|---|
| From HSBC Global Money Account | £0 | N/A | N/a |
| HSBC to HSBC (Worldwide) | £0 | £0 | £17 |
| Euro Payments Within the EEA | £0 | £0 | £17 |
| Euro Payments Outside the EEA | £5 | £5 | £17 |
| Non-Euro Payments (Any Destination) | £5 | £5 | £17 |
| Priority Business Payments | Varies | Varies | N/A |
Foreign Exchange Rates & Conversion Fees
HSBC provides live exchange rates in the mobile app, allowing users to check rates before converting money.
Global Money Account users benefit from HSBC’s best exchange rates, while non-Global Money customers will have their transfers converted using HSBC’s standard rates.
If a payment is made in a currency not held in the account, it will be converted at the HSBC Global Money Exchange Rate or the Visa Exchange Rate, depending on the payment type.
Priority Payments and SEPA Credit Transfers
Businesses using HSBC for international payments can access Priority Payments and SEPA Credit Transfers.
- Priority Payments are best for urgent or high-value transfers, with fees varying based on the amount and destination.
- SEPA Credit Transfers provide a cost-effective way to send euros across Europe, with funds arriving the next working day.
Pros and Cons of using HSBC Money Transfer
| ✅ Pros | ❌ Cons |
|---|---|
| Fee-Free Transfers with Global Money Account | Non-Global Money Transfers Have Fees |
| Tailored Business Payment Solutions | Some Transfers Take 4+ Working Days |
| Competitive Exchange Rates | Limited Currency Holding Options for Businesses |
| Branch and Phone Support | Mobile App Dependency for Global Money Account |
| Bulk Payments | More expensive than specialist FX providers |
| Offers Currency Accounts | |
| £50,000 Daily Transfer Limit |
HSBC Customer Reviews
As of March 2025, HSBC has received great reviews from customers, with the following average ratings:
- Trustpilot: 3.2 out of 5 based on 10,658 reviews
- Apple App Store: 4.8 out of 5 based on 1.5 million reviews
- Google Play Store: 4.7 out of 5 based on 341,000 reviews
On the positive side, many individuals commend HSBC’s efficient and professional staff, especially when handling international payments. Customers appreciate the helpfulness of HSBC staff in guiding them through the international transfer process and assisting international students with their banking needs. Additionally, the bank’s app is often highlighted for its intuitive design, making both local and global transactions relatively straightforward.
However, a number of users have expressed dissatisfaction with the customer service, particularly regarding international money transfers. Complaints include long wait times, poor communication, and frustrating resolution delays.
Additionally, several individuals raised concerns about the functionality of HSBC’s mobile banking app, with some users facing issues such as crashes, slow performance, and difficulties with features like cheque deposits.
HSBC Security Measures
HSBC is regulated by the Financial Conduct Authority and strongly emphasises security, ensuring customers can transfer money internationally with confidence.
- Multi-Factor Authentication (MFA) – Requires a combination of a password/PIN, one-time passcode (OTP), and biometric authentication for secure access.
- Fraud Detection & Monitoring – HSBC continuously monitors transactions for suspicious activity and may block or hold payments if fraud is suspected.
- HSBC Safeguard Programme – Regular account reviews to ensure compliance and protect against financial crime.
- Confirmation of Payee (CoP) – Verifies recipient details before processing payments to prevent misdirected transfers and authorised push payment (APP) fraud.
- Digital Security Promise – HSBC refunds unauthorised transactions if customers follow security guidelines.
- Regulatory Compliance – HSBC follows UK and international financial regulations, including anti-money laundering (AML) checks and sanctions screening.
- Encryption & Secure Networks—This service uses encryption and secure global payment networks to protect sensitive data and ensure funds reach the correct destination.
- Branch & Phone Banking Security – Security questions, voice recognition, and in-person ID checks for added protection in non-digital transfers.
HSBC Recent Updates and Recognitions
HSBC is one of the world’s largest and most established banks, offering personal and business banking across the UK and internationally. With a history dating back to 1865, HSBC serves over 15 million UK customers, including high-net-worth individuals and companies with global ambitions.
In 2024, HSBC’s Global Money Account won ‘Best Industry Innovation’ at the Card and Payments Awards, highlighting its commitment to simplifying international banking.
The bank has also expanded its security measures, introducing Confirmation of Payee to reduce payment fraud.
In a strategic move, HSBC recently acquired Silicon Valley Bank UK, strengthening its support for businesses in the innovation sector. These updates reinforce HSBC’s position as a trusted, forward-thinking financial institution for individuals and companies operating across borders.
Conclusion
In conclusion, HSBC’s international money transfer service offers a secure solution for both personal and business users. With features like the Global Money Account, which eliminates fees for international transfers, competitive exchange rates, and a high £50,000 daily transfer limit, it is an appealing option for those frequently sending money across borders.
However, while many users appreciate the user-friendly mobile app and professional customer service, there are notable complaints about delays, poor communication, and functionality issues with the app. The £5 fee for non-Global Money transfers and the dependency on mobile banking may also be drawbacks for some users, especially those making smaller transfers.
Disclaimer
The content in this article is intended for general informational purposes and should not be considered as financial advice. While we strive to ensure the accuracy and relevance of the information, it may not apply to your circumstances or reflect the latest updates in the financial sector.
Before making any financial decisions, such as selecting a money transfer service, it is recommended that you seek advice from a qualified financial adviser who can offer guidance suited to your specific needs. The services discussed, including HSBC’s offerings, may not be appropriate for everyone, so it’s important to carefully review all relevant factors, including fees, exchange rates, and regulations, before taking action.
You are responsible for your own decisions, and we disclaim any liability for actions taken based on the information provided. Always confirm terms and conditions directly with the service provider.
FAQs
Yes, HSBC enables international money transfers in 50+ currencies to 200+ countries via its Global Money Account, with no HSBC fees. Transfers can be made through the mobile app, online banking, or in-branch, with estimated arrival times shown. Businesses can use Priority Payments for high-value transfers and SEPA Credit Transfers for euro payments. HSBC also offers multi-currency accounts for efficient currency management.
HSBC may charge for sending money abroad, depending on the type of account and the destination. There are no transfer fees between HSBC accounts and euro payments within the European Economic Area (EEA). However, non-EEA transfers usually incur a £5 fee unless you use the HSBC Global Money Account, which allows fee-free transfers. Additional charges may apply depending on the currency or specific transfer method used.
The time it takes to send money internationally through HSBC depends on the destination and currency. Transfers within the European Economic Area (EEA) typically settle the next working day. For other destinations, payments may take up to four working days, depending on the currency and the country. HSBC also provides real-time tracking to check the estimated arrival time before sending your transfer.
HSBC is a solid choice for international transfers, offering a range of options for both personal and business users. With its Global Money Account, you can send money in over 50 currencies to 200+ countries without fees from HSBC or intermediary banks. It also provides competitive exchange rates, strong security measures, and a mobile app for easy management. However, while the service is reliable, some users report delays and non-Global Money Account transfers may incur fees.