HSBC bids 'adieu' to foreign exchange wire transfer fees for personal banking customers¹

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HSBC bids 'adieu' to foreign exchange wire transfer fees for personal banking customers¹

Canada NewsWire

** HSBC's new $0 FX wire transfer fees + HSBC's competitive FX rates = best value across all major banks in Canada **

VANCOUVER, July 30, 2018 /CNW/ - HSBC Bank Canada is one of the first banks in the country to offer personal banking customers $0 transfer fees on international foreign exchange (FX) wires under $10,000CAD or equivalent, reinforcing its position as Canada's leading international bank.1

About 1.6 million Canadian households reported sending money to their relatives or friends living outside Canada in 2016.2

"Wire transfers are a great choice for those seeking a quick, low-cost and secure way to transfer money abroad," said Larry Tomei, Executive Vice President and Head of Retail Banking and Wealth Management, HSBC Bank Canada. "Combined with our incredibly competitive foreign exchange rates, we believe this offers Canadians the best value on international wire transfers amongst all major banks in Canada."   

Customers can save approximately $35 on an average transaction under $10,000 CAD compared to other major competitors.3 Transfers can be made via internet banking, mobile banking app, telephone banking or in-person at an HSBC branch.

While HSBC offers many of the same products as a domestic bank, it also offers a large suite of global investment products and other specialized services particularly suited to those with an international outlook, including:

  • HSBC Global View and Global Transfers: customers can view, manage and transfer money between their personal HSBC bank accounts in over 30 countries.4

  • High rate and regular foreign currency savings accounts: available in many of the world's major currencies (Renminbi, US dollar, Great British Pound, Euro and Hong Kong Dollar).5

  • HSBC's Newcomer Program: currently offering welcome bonuses valued at up to $700, the program includes and HSBC chequing account with no monthly banking fees for 12 months, an HSBC Mastercard® (designed for newcomers to Canada without a credit history), and a 1% bonus interest rate on a 1-year Guaranteed Investment Certificate (GIC).6

HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading international bank in the country. We help companies and individuals across Canada to do business and manage their finances internationally through three global business lines: Commercial Banking, Global Banking and Markets, and Retail Banking and Wealth Management. Canada is a priority market for the HSBC Group – one of the world's largest banking and financial services groups with assets of US$2,652bn at 31 March 2018. Linked by advanced technology, HSBC serves customers worldwide through an international network of around 3,900 offices in 67 countries and territories in Europe, Asia, North and Latin America, and the Middle East and North Africa. For more information visit www.hsbc.ca or follow us on Twitter: @hsbc_ca or Facebook: @HSBCCanada

Notes to editors:


1.

The fee for sending wire transfers valued under $10,000 CAD equivalent from HSBC Bank Canada personal accounts is waived if the currency of the wire is different from the account currency. The CAD equivalent is determined at the time the transfer is processed. Exchange rate will apply; transfers may incur agency and/or beneficiary bank fees. For more information visit: https://www.hsbc.ca/1/2/personal/banking/ways-to-bank/personal-internet-banking/wire-transfers  and/or refer to the Personal Service Charges/Statement of Disclosure for full details regarding your account(s).

2.

Statistics Canada: https://www.statcan.gc.ca/eng/blog/cs/sending-money

3.

Based on posted FX rates and fee structures as of 25 July 2018

4.

Global View and Global Transfers are not available in all countries and territories where HSBC Premier and HSBC Advance are offered. A full list of available countries and a demo can be viewed online. For more information and full terms and conditions, visit: http://www.hsbc.ca/1/2/personal/banking/ways-to-bank/gvgt

5.

Subject to terms and conditions. See full details at: www.hsbc.ca/1/2/personal/banking/accounts/foreign-currency-accounts

6.

Subject to terms and conditions. See full details at:: www.hsbc.ca/1/2/personal/new-to-canada/

7.

®/TMMastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated. Used pursuant to license.

 

SOURCE HSBC Bank Canada

View original content: http://www.newswire.ca/en/releases/archive/July2018/30/c5330.html

Copyright CNW Group 2018

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