How Does HSBC Australia Exchange Rates Compare to other Banks and Providers?

Learn whether the HSBC is a good option for making international money and currency transfers in this HSBC Exchange Rates Review.

HSBC logoHSBC Holdings plc is a British multinational banking and financial services company headquartered in London, United Kingdom. It is the world's third largest bank by assets. HSBC is organised within four business groups: Commercial banking; Global banking and Markets (investment banking); Retail Banking and Wealth Management; and Global Private Banking.

The Currency Shop says:

  • A dedicated currency provider will almost always give you better rates and lower fees.
  • Use our comparison table to compare foreign exchange rates, fees and services of other providers.
  • Wise, OFX, and World First are good places to compare exchange rates.

What we will cover in this HSBC Australia exchange rates review

We’re most interested in how much it costs to transfer money internationally through HSBC Australia. In this article, we’ll explore:

  • How HSBC Australia exchange rates compares to others
  • Fees involved in sending and receiving international currency
  • How easy is it to make a transfer via HSBC?
  • How long does an international money transfer take through HSBC?
Australian dollar coin on calculator

Compare money transfer companies like HSBC

Fees involved in sending and receiving international currency with HSBC Foreign Exchange

You can send money via internet banking with a default maximum amount of $50,000 at a fee of $25. But you can also raise this limit and conduct a telegraphic transfer up to $100,000. You can also save $5 for each overseas transfer using the HSBC internet banking service.

How easy is it to make a transfer?

You can transfer money through online, phone, agent, bank account to bank account, cash transfer and international money order.

How long does an international money transfer take through HSBC?

Transferring money internationally through HSBC will take up to 3-5 days.

Other considerations

HSBC does allow you to hold multiple currency accounts. You can view them using one log-on and can transfer funds between the accounts instantly. This is particularly handy for people that spend significant time each year in different countries.

Conclusion

Through HSBC international money transfer, you can save $5 through internet banking service. Processing time is still 3-5 days which could be an inconvenience for urgent situations.

Ileana Ionescu
Author
Ileana Ionescu
Content manager
With a background in business journalism, Ileana is an experienced content manager, creating content for Exiap that helps its audience make informed decisions about their finances.
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Last updated
April 15th, 2021