International Transfers
Also known as Cross-border, SWIFT or wire transfers. International Transfers are ideal for making single, urgent payments to suppliers around the world, via our network of correspondent banks.
International transfers in detail
International transfers are used for making payments to a beneficiary in another country. If the payment involves different currencies, foreign exchange (FX) is required and can involve multiple banks.
They are made via SWIFT (the Society for Worldwide Interbank Financial Telecommunication) which is a global platform that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardised and reliable manner.
Overview
- Global Reach: International transfers enable businesses to send and receive funds across borders, facilitating transactions in multiple currencies and expanding market opportunities.
- Diverse Payment Options: Clients can choose from various methods, including SWIFT transfers and local payment networks, allowing for flexibility in how they conduct international transactions.
- Competitive Exchange Rates: Competitive exchange rates offered for international transfers, helping clients maximise the value of their transactions and reduce costs.
- Streamlined Compliance and Risk Management: Robust compliance measures are in place to ensures that international transfers adhere to regulatory standards, minimising risks associated with cross-border transactions.
Key features
- Global Network: Money can be sent internationally through our network of correspondent banks, which is essential for businesses with global operations and payment requirements.
- Secure Transactions: Transactions are securely sent between banks/financial institutions via SWIFT reducing the risk of interception or fraud.
- Traceable Status: Wire transfers are traceable – each has a unique identifier that allows parties to track the transaction status.
- Flexibility and Control: Choose to pay the total bank charges with the Guaranteed OUR service, which ensures the full amount is received by the beneficiary as well as helping to reduce unexpected cross-border fees.
- Fast Transfers: Main currencies (GBP, EUR, USD) can be transferred on the same day, other currencies will typically offer either the next day or the day after that.
- Simple FX: Clients can easily make FX payments via our online banking platform HSBCnet with the exchange rate displayed upon initiation.