Like Tree4Likes
  • 2 Post By pin
  • 1 Post By Jamthe
  • 1 Post By pin

HSBC Expat transfers to UK

Reply
  1. #1

    Join Date
    Oct 2006
    Location
    Hong Kong
    Posts
    13,506

    HSBC Expat transfers to UK

    Bit of a ballache. Want money to go from HSBC Expat to Nationwide account. HSBC Expat account has UK sort code and account number etc. Bank transfers within the UK banking system are free.

    However HSBC Expat deems this as an international transfer and would charge me GBP4 to do it.

    In the end transfer from HSBC Expat to HSBC UK (deemed international transfer but free as its to HSBC) and then from HSBC UK to HSBC HK.

    Yes, all to save GBP4.

    shri and Tadashi like this.

  2. #2

    Join Date
    Nov 2005
    Location
    Cramped island
    Posts
    3,823

    depends on how long in time you spent to do it..
    if the total time, including waiting, are just like 3minutes.. then technically u are better off only if your hourly pay is lower than 60m/3m * GBP4 = 80GBP... since your hourly pay (charges) is obviously higher than 80 GBP, then you ran a negative accrual.


  3. #3

    Join Date
    Apr 2018
    Posts
    27

    As you said, "In the end transfer from HSBC Expat to HSBC UK (deemed international transfer but free as its to HSBC) and then from HSBC UK to HSBC HK," that is the best way of doing it.

    If you are in HSBC Premier, you can link the accounts, if you haven't.


  4. #4

    Join Date
    Mar 2018
    Posts
    43

    The notion of “free banking” is illusory, as was learnt about 20+ years ago in the UK (to considerable cost to many). Aiming to reduce costs of course, just don’t expect wholly free banking - it only means it’s not clear where or how much you are paying.


  5. #5

    Join Date
    Oct 2006
    Location
    Hong Kong
    Posts
    13,506

    Just re read my OP. The sentence should have said from HSBC UK to Nationwide UK.

    I don't have Premier with HSBC UK so can't benefit from Global View. Was told that to set Premier up (which I am eligle for) I have been told I need to physically go into a branch in the UK.


  6. #6

    Join Date
    Jul 2018
    Posts
    14
    Quote Originally Posted by pin
    Just re read my OP. The sentence should have said from HSBC UK to Nationwide UK.

    I don't have Premier with HSBC UK so can't benefit from Global View. Was told that to set Premier up (which I am eligle for) I have been told I need to physically go into a branch in the UK.
    Global view is available to Advanced customers and should be able to be set up through online banking. It is the "free" remittance which is only available to Premier.
    pin likes this.

  7. #7

    Join Date
    Dec 2013
    Location
    Hong Kong
    Posts
    9,671
    Quote Originally Posted by pin
    Bit of a ballache. Want money to go from HSBC Expat to Nationwide account. HSBC Expat account has UK sort code and account number etc. Bank transfers within the UK banking system are free.

    However HSBC Expat deems this as an international transfer and would charge me GBP4 to do it.

    In the end transfer from HSBC Expat to HSBC UK (deemed international transfer but free as its to HSBC) and then from HSBC UK to HSBC HK.

    Yes, all to save GBP4.
    This is exactly what I do when I need to send money to my sister.

  8. #8

    Join Date
    Oct 2006
    Location
    Hong Kong
    Posts
    13,506
    Quote Originally Posted by Jamthe
    Global view is available to Advanced customers and should be able to be set up through online banking. It is the "free" remittance which is only available to Premier.
    Thanks for that. My HSBC UK account is a basic one, do not even Advance. I think I can get it set up to Advance if I jump through some hoops.
    Jamthe likes this.

  9. #9

    Join Date
    Mar 2018
    Posts
    51

    Pin,

    If you are an Expat client then you will already either be Premier or Advance. You rarely see Expat Advance accounts these days, are mainly historic and most these days are Premier. With this, you will be able to upgrade your UK account accordingly.

    Once you have done this, the remittance from your Expat account to your UK account can be completed using Global View and then the UK account will let you make the free Bill Payment transfer to your Nationwide account. Perhaps a long winded process, but a solution none the less.

    Hope that helps.