HSBC Transfer

Does anybody have knowledge of, or better still has actually set up a facility with HSBC bank so as to transfer money out to another bank? Its called an Interbank Transfer??? Reason i ask is hubby and i are thinking of moving "semi-permenantly" to the Far East for a few years where we have friends and relatives. He is out there at present on a scouting mission, so to speak. With that in mind we are looking at the cheapest way of transfering larger sums of cash to our would-be Asian bank account, so as not to rely exclusively on Debit cards (for obvious reasons!!) This cheapest way has been decided, and it wll be a Halifax account just used to SWIFT the cash over to us in Asia. Also, i hear Halifax iallow this kind of transfer to be done electronically, unlike a few other banks i have been looking into, which is yet another reason why Halifax wins over other banks. Iwent into a local (but not one where our account is held) HSBC branch and they werent very helpful...saying we COULD get the facility but would entail moving to a Plus account, charging us 13 for the privilege, and then giving me the "hard sell" I just said "thanks, but no thanks" and left With all thats involved moving mortgages, direct debits, etc, we dont want all the hassle of quiting the HSBC, so see this as a way round all that. What i want to do is TELL them what i want and not ask them if they do it, but need to know 1st that they DO in fact do it All help appreciated

Linda

Reply to
Tom & Linda
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with HSBC bank so as to transfer money out to another

Far East for a few years where we have friends and

of cash to our would-be Asian bank account, so as

way has been decided, and it wll be a Halifax account

this kind of transfer to be done electronically, unlike

Halifax wins over other banks.

werent very helpful...saying we COULD get the

privilege, and then giving me the "hard sell" I just

the hassle of quiting the HSBC, so see this as a way

need to know 1st that they DO in fact do it

Are you already doing on-line banking with HSBC? They have an overseas payment option already which we use quite regularly with our standard (no fees) current account.

We transfer sterling to Indonesia and the HSBC charge is 15 per transfer so for large amounts it is fairly trivial. Charges at the Indonesian end are minimal and the exchange rate applied is quite good (none of the 5% commission that UK banks charge) but you need to check for wherever you are going.

There are some organisations that specialise in international transfers eg

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(I've not used them) but none of them suited what we wanted.

Reply to
AnthonyL

with HSBC bank so as to transfer money out to another

Far East for a few years where we have friends and

of cash to our would-be Asian bank account, so as

way has been decided, and it wll be a Halifax account

this kind of transfer to be done electronically, unlike

Halifax wins over other banks.

werent very helpful...saying we COULD get the

privilege, and then giving me the "hard sell" I just

the hassle of quiting the HSBC, so see this as a way

need to know 1st that they DO in fact do it

I live in Asia and I have accounts with HSBC in both the UK and here. Transfers from HSBC in the UK to my overseas account take place almost instantaneously, and are free of charge if you have "Premier" status with them and make the request online . There is a charge for non-Premier customers, but I don't remember how much that is.

Chris

Reply to
Chris Blunt

Thanks for this. i THINK i have it sussed now, thanks to your input Yes we DO have online banking, but it was a case of finding which buttons to press. Its the "Create a new benificary" option in the overseas banking section, isnt it??. I just did a dummy run, and got to where i enter sort code etc. So thats all i needed to know :-)

Once again, thanks from this technophobe ;-)

Linda

Reply to
Tamale-Loco

I suggest the OP follows this advice. Transferring between accounts denominated in the same currency and performing the currency exchange as a separate act, either before or after the transfer, makes all the costs, fees and exchange rates far more transparent and visible and that will allow the OP to be a smarter, better informed consumer of those services.

Tony

Reply to
Anthony R. Gold

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