International Payments

International payments are used for making transfers to a beneficiary in another country. If the payment involves different currencies, foreign exchange (FX) is required and can involve multiple banks. This type of payment is often referred to as a cross-border payment or wire transfer.

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.

• Global Network: Money can be sent internationally via our network of correspondent banks, vital 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 (OUR), just the HSBC sending bank charges (SHA) or request that the beneficiary pay (BEN) – allowing for greater control over all the transfer costs.
• 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