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**Ability to seamlessly hold, manage and send money to over 20 countries and regions, 24/7 **
**The only global bank in Singapore to offer direct RMB fund transfer to UnionPay Cardholders**
HSBC Bank (Singapore) Limited has today added new global fund transfer capability to the HSBC Singapore App. The move enables customers to send money to accounts overseas with the same ease, transparency, and speed of doing a fund transfer and payment in Singapore.
Previously, customers could only globally transfer money to overseas accounts via the HSBC Online Banking platform. Now, HSBC Global Money Transfer enables HSBC Everyday Global Account customers to manage their overseas remittance and payment via the HSBC Singapore app.
Furthermore, HSBC Singapore does not charge any fees for global transfers which gives customers a faster and more cost-effective fund transfer and payment option.
HSBC is also the only global bank in Singapore to currently partner UnionPay International for fuss-free RMB remittance to mainland China UnionPay Cardholders . This is especially useful to HSBC customers working or living in mainland China where in the past, they are unable to make direct fund transfers to their UnionPay card via an international bank account.
Via their mobile, customers can now:
• Send funds like a local to more than 20 countries and territories including Europe, Hong Kong, mainland China, and the United States in as fast as a few minutes. More to be added progressively.
• Remit funds in ten foreign currencies (CAD, CHF, NZD, GBP, EUR, HKD, USD, SEK, RMB and ZAR) to other HSBC account holders and non-HSBC customers, including those holding a UnionPay Card issued in mainland China .
• Remit funds to over 200 countries and territories via SWIFT.
• Access real-time and competitive foreign exchange rates
• See transparent pricing for transfers via SWIFT where potential fees charged by other banks or service providers are displayed upfront.
• Get an estimated arrival time of transfer.
Mr Anurag Mathur, Head of Wealth and Personal Banking, HSBC Bank (Singapore) said, “Maintaining familial connection is the top reason behind international payments among retail banking customers. Be it to financially support family members, pay for children’s education or even gifting to family members overseas. Global Money Transfer taps on HSBC’s extensive global network and partnerships to make international remittance and fund transfers via the HSBC Singapore app even more seamless and secure.”
He added: “In Singapore, we are especially grateful to partner UnionPay International to extend direct remittance in RMB to our customers. Singapore being an international business and wealth hub attracts a lot of global citizens including overseas Chinese and Indians. Having the ability to offer simple, fee-free and fast direct fund transfers to over 20 markets and in 10 foreign currencies, would make it easier for these customers to manage their money.”
Mr Huiming Cai, General Manager, UnionPay International Southeast Asia said, “We are pleased to partner HSBC Singapore, our first remittance partnership with a global bank in this region, to make sending money to UnionPay Cardholders quick, easy, secure and convenient. With this collaboration, HSBC Everyday Global Account customers will now be able to remit funds globally and at competitive rates to mainland China’s UnionPay Cardholders.”
Global Money Transfer was introduced in the US, UAE and now, Singapore, with a pipeline of further markets as well as new currencies and enhancements to be added. This is part of HSBC’s strategy to digitise at scale across its international network, using technology to make banking easier for customers, opening up new opportunities for them across the world.
Enhanced HSBC Everyday Global Account
HSBC Everyday Global Account is a multi-currency account which comes with a Visa- and NETS-enabled multi-currency Debit card, supports fuss-free conversion and international payments in ten foreign currencies (CAD, CHF, NZD, GBP, EUR, HKD, , USD, SEK, RMB and ZAR) in addition to SGD. It was launched in 2019 initially as a key transactional account for internationally-minded customers.
In addition, HSBC customers will soon be able to get rewarded for using their HSBC Everyday Global Account via HSBC Everyday+, a new customer rewards programme. Customers can enjoy cashback of up to SGD500 every month on eligible HSBC credit and debit card spend and GIRO bill payments, with no minimum spending required. They will also be able to enjoy bonus interest of up to SGD300 every month and a one-time cash reward of up to SGD300 when they save with the HSBC Everyday Global Account.
2021-2025 Growth Ambition
Building from a position of strength, HSBC today is Asia’s leading bank across the wealth continuum (Mass affluent/HNW/UHNW segments) with a combined AUM of US$488 billion . In 2020, Asia generated nearly half of HSBC’s USD1.7 trillion in wealth balances and 65% of the Group’s wealth revenues.
Similarly, since HSBC Singapore unveiled its plan to grow the Wealth and Personal Banking business in 2018 , the bank has successfully expanded its frontline wealth teams, which include both retail and private banking relationship managers and investment specialists, and grown total wealth balances at double-digit annualised rates within 3 years.
In its next phase of growth, HSBC Singapore aims to double the total wealth balances of its Wealth and Personal Banking business in the next five years.
Key growth drivers:
1. Grow frontline wealth teams supporting high net worth (HNW) and ultra-high net worth (UHNW) customer segments
2. HSBC’s strong Asia presence connected to global footprint c50 markets
3. Accelerate growth in international customer segments, including overseas Chinese and Indians, and UHNW marketshare
4. Ramp up digital banking capabilities and expand product and solution suite, including adding more ESG-themed investments
**The only global bank in Singapore to offer direct RMB fund transfer to UnionPay Cardholders**
HSBC Bank (Singapore) Limited has today added new global fund transfer capability to the HSBC Singapore App. The move enables customers to send money to accounts overseas with the same ease, transparency, and speed of doing a fund transfer and payment in Singapore.
Previously, customers could only globally transfer money to overseas accounts via the HSBC Online Banking platform. Now, HSBC Global Money Transfer enables HSBC Everyday Global Account customers to manage their overseas remittance and payment via the HSBC Singapore app.
Furthermore, HSBC Singapore does not charge any fees for global transfers which gives customers a faster and more cost-effective fund transfer and payment option.
HSBC is also the only global bank in Singapore to currently partner UnionPay International for fuss-free RMB remittance to mainland China UnionPay Cardholders . This is especially useful to HSBC customers working or living in mainland China where in the past, they are unable to make direct fund transfers to their UnionPay card via an international bank account.
Via their mobile, customers can now:
• Send funds like a local to more than 20 countries and territories including Europe, Hong Kong, mainland China, and the United States in as fast as a few minutes. More to be added progressively.
• Remit funds in ten foreign currencies (CAD, CHF, NZD, GBP, EUR, HKD, USD, SEK, RMB and ZAR) to other HSBC account holders and non-HSBC customers, including those holding a UnionPay Card issued in mainland China .
• Remit funds to over 200 countries and territories via SWIFT.
• Access real-time and competitive foreign exchange rates
• See transparent pricing for transfers via SWIFT where potential fees charged by other banks or service providers are displayed upfront.
• Get an estimated arrival time of transfer.
Mr Anurag Mathur, Head of Wealth and Personal Banking, HSBC Bank (Singapore) said, “Maintaining familial connection is the top reason behind international payments among retail banking customers. Be it to financially support family members, pay for children’s education or even gifting to family members overseas. Global Money Transfer taps on HSBC’s extensive global network and partnerships to make international remittance and fund transfers via the HSBC Singapore app even more seamless and secure.”
He added: “In Singapore, we are especially grateful to partner UnionPay International to extend direct remittance in RMB to our customers. Singapore being an international business and wealth hub attracts a lot of global citizens including overseas Chinese and Indians. Having the ability to offer simple, fee-free and fast direct fund transfers to over 20 markets and in 10 foreign currencies, would make it easier for these customers to manage their money.”
Mr Huiming Cai, General Manager, UnionPay International Southeast Asia said, “We are pleased to partner HSBC Singapore, our first remittance partnership with a global bank in this region, to make sending money to UnionPay Cardholders quick, easy, secure and convenient. With this collaboration, HSBC Everyday Global Account customers will now be able to remit funds globally and at competitive rates to mainland China’s UnionPay Cardholders.”
Global Money Transfer was introduced in the US, UAE and now, Singapore, with a pipeline of further markets as well as new currencies and enhancements to be added. This is part of HSBC’s strategy to digitise at scale across its international network, using technology to make banking easier for customers, opening up new opportunities for them across the world.
Enhanced HSBC Everyday Global Account
HSBC Everyday Global Account is a multi-currency account which comes with a Visa- and NETS-enabled multi-currency Debit card, supports fuss-free conversion and international payments in ten foreign currencies (CAD, CHF, NZD, GBP, EUR, HKD, , USD, SEK, RMB and ZAR) in addition to SGD. It was launched in 2019 initially as a key transactional account for internationally-minded customers.
In addition, HSBC customers will soon be able to get rewarded for using their HSBC Everyday Global Account via HSBC Everyday+, a new customer rewards programme. Customers can enjoy cashback of up to SGD500 every month on eligible HSBC credit and debit card spend and GIRO bill payments, with no minimum spending required. They will also be able to enjoy bonus interest of up to SGD300 every month and a one-time cash reward of up to SGD300 when they save with the HSBC Everyday Global Account.
2021-2025 Growth Ambition
Building from a position of strength, HSBC today is Asia’s leading bank across the wealth continuum (Mass affluent/HNW/UHNW segments) with a combined AUM of US$488 billion . In 2020, Asia generated nearly half of HSBC’s USD1.7 trillion in wealth balances and 65% of the Group’s wealth revenues.
Similarly, since HSBC Singapore unveiled its plan to grow the Wealth and Personal Banking business in 2018 , the bank has successfully expanded its frontline wealth teams, which include both retail and private banking relationship managers and investment specialists, and grown total wealth balances at double-digit annualised rates within 3 years.
In its next phase of growth, HSBC Singapore aims to double the total wealth balances of its Wealth and Personal Banking business in the next five years.
Key growth drivers:
1. Grow frontline wealth teams supporting high net worth (HNW) and ultra-high net worth (UHNW) customer segments
2. HSBC’s strong Asia presence connected to global footprint c50 markets
3. Accelerate growth in international customer segments, including overseas Chinese and Indians, and UHNW marketshare
4. Ramp up digital banking capabilities and expand product and solution suite, including adding more ESG-themed investments
