Overview

A wire transfer is an electronic transfer of funds locally or, to or from a foreign country.

Send a wire transfer from your Online Banking account to:

  • a non-HSBC account within Canada*
  • an account internationally

* Sending $5000 or less to another Canadian bank?

Use an INTERAC e-Transfer – it’s free!

Wire transfer limits

The daily limit is $50,000 (CAD equivalent). For wire transfers between $50,000 and up to $150,000 (CAD equivalent), you’ll need additional authorization: log on to your account, add your new wire transfer payee and then call Customer Service at 1-877-621-8811

$0 Wire Transfer Fees

Take advantage of waived transfer fees, when sending an outgoing fx wire transfer valued under $10,000 (CAD equivalent) from HSBC Bank Canada personal accounts. An fx wire is when the outgoing currency is different from the originating account. The CAD equivalent and exchange rates will be applied at the time of transfer. Other fees on the transfer may include agency and/or other bank fees.

Before you send a wire transfer make sure you have:

Table regarding requirements before sending wire transfers
Available funds
Up to date contact information Activated security device
Reviewed service charges
Complete information on the payee’s bank
Complete information on the payee
Is the money available (not on hold) in your account to cover the wire transfer and service charges?
Ensure your contact details (email and telephone) are up to date: log on to your account and from the top menu go to Banking > My profile > Update personal details.
To add a new wire transfer payee, you’ll need to generate a Transaction Security Code.
Reviewed service charges.

Does the payee’s bank accepts wire transfers?

 

Payee bank details:

  • Select the payee’s bank country, city and name from the menus in wire transfer page in Online Banking - see country specific requirements
  • Bank details not listed in any of the menus? Select Other and enter the information manually. Provide a Bank Identification Code (BIC) or SWIFT code for the bank in the Bank code field.
  • If a BIC or SWIFT code is not available, provide a local clearing code (e.g. Clearing Code for Canada, Fed Wire for the US, CLABE for Mexico, BRB for Australia, etc.) in the Bank code field.
  • If no BIC/SWIFT or clearing code is available, provide the bank’s name and full physical address (bank’s head office only).

Full name and full physical address (no post office box):

  • building number/name and street
  • town/city
  • province/state
  • postal code
  • country
  • Bank account number or IBAN (mandatory for European banks and some other countries)
Table regarding requirements before sending wire transfers
Available funds
Is the money available (not on hold) in your account to cover the wire transfer and service charges?
Up to date contact information Ensure your contact details (email and telephone) are up to date: log on to your account and from the top menu go to Banking > My profile > Update personal details.
Activated security device
To add a new wire transfer payee, you’ll need to generate a Transaction Security Code.
Reviewed service charges
Reviewed service charges.
Complete information on the payee’s bank

Does the payee’s bank accepts wire transfers?

 

Payee bank details:

  • Select the payee’s bank country, city and name from the menus in wire transfer page in Online Banking - see country specific requirements
  • Bank details not listed in any of the menus? Select Other and enter the information manually. Provide a Bank Identification Code (BIC) or SWIFT code for the bank in the Bank code field.
  • If a BIC or SWIFT code is not available, provide a local clearing code (e.g. Clearing Code for Canada, Fed Wire for the US, CLABE for Mexico, BRB for Australia, etc.) in the Bank code field.
  • If no BIC/SWIFT or clearing code is available, provide the bank’s name and full physical address (bank’s head office only).
Complete information on the payee

Full name and full physical address (no post office box):

  • building number/name and street
  • town/city
  • province/state
  • postal code
  • country
  • Bank account number or IBAN (mandatory for European banks and some other countries)

Additional information

Certain countries require specific information. If it is not provided, your wire transfer can be delayed or rejected (and it may incur additional charges).

Note: The following list is not exhaustive. Check with your payee to determine specific country requirements, if any.

China – Wire transfers in Chinese Yuan (CNY) can only be sent to commercial entities for commercial purposes. Wire transfers to persons in China can only be sent in non-Chinese currencies, e.g. USD, CAD, etc.

All wire transfers to and from China require a Reason for transaction code (also called a Purpose of Payment Code). In the wire transfer page in Online Banking, select CNY as the currency. A Reason for transaction menu will appear from which you can select a payment code:

  • /BUSINESS/GOODS TRADE – for cross-border goods trade
  • /BUSINESS/SERVICE TRADE – for cross-border service trade
  • /BUSINESS/CAPITAL TRF – for cross-border capital transfer
  • /BUSINESS/CAPITAL ACC TXN – for current account transactions
  • /BUSINESS/CHARITY DONATION – for charity donation

Canada – The payee’s 12-digit account number is required. Enter it into the Account number field (transit number + account number) and provide the bank name and address.

Europe – An IBAN is required for all transfers to European banks. The IBAN consists of the bank code, transit number, account number and additional characters of the payee’s bank account, e.g. GB5XBARC2XX73XX52XX80X9

Mexico – An 18-digit CLABE is required. Without a CLABE, your wire transfer may be cancelled by the receiving bank. Enter the CLABE into the Account number field. If a wire transfer to Mexico is routed via an intermediary bank, the payee’s bank account number for the intermediary bank must be provided.