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HSBC

Discover faster and cheaper ways to transfer money

How HSBC can help

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Global View and Global Transfers
Transfer Terms
FX Dash

Did you know, when transferring money, you can choose who pays: you, the receiver, or you share the cost?

 

Every time you send money to someone, different types of fees are involved which may or may not apply:


•   Transfer fee
•   Exchange rate
•   Intermediate bank fee
•   Receiver or beneficiary bank fee


 

 

How HSBC can help you:
HSBC gives you the option to choose who pays the fees, by selecting one of the below charge types:

•   BEN if you want the receiver to pay
•   OUR if you want to pay
•   SHA if you want to share the fees with the receiver

Type of Transfer Definition Example
BEN lf you want the receiver to pay
Transfer fee Exchange rate Intermediate bank fee Receiver or beneficiary bank fee (if any)
Paid by receiver (deducted from transfer amount) Paid by receiver (deducted from transfer amount) Paid by receiver (deducted from transfer amount) Paid by receiver (deducted from transfer amount)
OUR If you want to pay
Transfer fee Exchange rate Intermediate bank fee Receiver or beneficiary bank fee (if any)
Paid by you (deducted from your account) Paid by you (deducted from your account) Paid by you (deducted from your account) Paid by receiver (deducted from transfer amount)
SHA If you want to share the fees with the receiver
Transfer fee Exchange rate Intermediate bank fee Receiver or beneficiary bank fee
Paid by you (deducted from your account) Paid by you (deducted from your account) Paid by receiver (deducted from transfer amount) Paid by receiver (deducted from transfer amount)

 

If you choose OUR, HSBC will let you know the exact charges to be deducted before you confirm your transfer.

 

 

Did you know you get the latest currency exchange rates when transferring money Monday to Friday?

 

You can get live exchange rates when you send money from Monday to Friday (both days inclusive) when international markets are open. But from Saturday to Sunday and on international public holidays, international markets are closed. So the exchange rates quoted are not live but a close estimate, which means they carry a slightly higher margin charged to you compared to the live rate.

 

 

How HSBC can help you:
HSBC offers live exchange rates to its customers conveniently through three different channels:

   1. Personal Internet banking accessible anytime and from anywhere with a daily transfer limit of OMR 20,000
   2. A network of 84 branches and 1 Customer Service Unit (CSUs) across Oman. For the location of our branches and CSUs, please visit www.hsbc.co.om/waystobank
   3. Call centre with bi-lingual agents (Arabic & English) available 24/7. You can contact us on 80074666 for Premier Customers, 80075555 for Advance Customers and 80074722 for Personal Banking Customers

Terms and Conditions apply.

 

 

Did you know it's often faster and cheaper to transfer money to the same bank abroad than to any other bank?

 

When you transfer money from a bank in Oman to a bank in another part of the world, normally up to three banks may be involved; your bank, the intermediate bank and the receiver's bank.

So it could be faster, easier and cheaper to transfer money locally and internationally between the same banks (instead of different banks), because an intermediate bank isn't involved.

 

 

How HSBC can help you:
HSBC is a leading international bank that is present in 80 countries. This makes it more convenient for customers to transfer money from Oman to any of the other countries it operates in. For the list of countries, please click here.

We also offer our Premier and Advance customers an online platform called Global View and Global Transfers (GVGT). GVGT allows you to view your HSBC accounts globally on one screen and send money instantly between them.

Please visit www.hsbc.co.om/gvgt for more information on Global View and Global Transfers.

 

 

 

Did you know if you transfer money on Mondays or Tuesdays, it will get to its destination faster than on any other day?

 

It normally takes two to three working days to process a payment. Since banks in Oman are closed on Fridays and banks abroad are closed on Saturdays and Sundays, it's best to transfer money on Mondays or Tuesdays from your Oman bank account. This is because they are the first two international working days of the week (unless there's a public holiday).

 

For example, if you send money on a Monday or Tuesday, in most cases, it will reach its destination during the same week because there will be enough time to resolve any issues or request any missing documents and information.

 

When you transfer money on a Wednesday, banks in Oman may take one to two days to process it. This means, normally it will reach banks abroad during the weekend (Saturday and Sunday). So the payment may not be processed and may not reach its destination until the following Tuesday or Wednesday. But if a transfer is done on Monday, then it is likely to reach its destination by Wednesday, at the latest, giving banks abroad two weekdays to process it, before the weekend.

 

How HSBC can help you:
HSBC can help you in many ways. We're always available when you need to make a transfer. Our most popular services are 24/7 online banking and our contact centre, in addition to our 84 branches and 1 Customer Service Unit spread across Oman. For the locations and opening hours of our branches, please click on www.hsbc.co.om/waystobank.

 

 

Did you know exchanging money at airport terminals can be more expensive?

 

When you exchange money at airport terminals, exchange rates are more expensive because of additional business costs and a slightly higher margin is usually charged.

 

 

How HSBC can help you:
HSBC wants to make sure you get the most competitive currency exchange rates. If you don't leave it till the last minute, you can drop by one of our 84 branches conveniently located around Oman to exchange your money before reaching to the airport.
For the locations and opening hours of our branches, please click on www.hsbc.co.om/waystobank.

 

 

Did you know if you transfer money before 10am Oman time, there's a better chance it will get to its destination the next day?

 

During weekdays, the cut off time for most major currencies is usually between 10 am and12 pm Oman time. A two hour margin is advised in case there is any missing information needed or discrepancies that need to be solved before the transfer takes place. Hence if you make your transfer before this time, there's a better chance of it being processed on the same day and therefore received by the beneficiary the next day.

 

 

 

 

How HSBC can help you:
HSBC wants to make transferring money as convenient as possible, by offering you three channels to transfer money through:

   1. Personal Internet banking accessible anytime and from anywhere, with a daily transfer limit of OMR 20,000
   2. A network of 84 branches and 1 Customer Service Unit (CSUs) across Oman
(For the location of our branches and CSUs, please visit www.hsbc.co.om/waystobank.)
   3. 24/7 call centre with bi-lingual agents (Arabic and English). Just contact us on 80074666 for Premier Customers, 80075555 for Advance Customers and 80074722 for Personal Banking Customers

 

 

Did you know that online transfers are faster and cheaper?

 

Online transfers are often faster and cheaper because it reduces the probability of errors and gives the customer a notification on the spot. This reduces the instances of the transfer being rejected or returned which cuts down on processing time and reduces cost. Additionally, it is easy and secure.

 

 

How HSBC can help you:
You can manage your finances effortlessly with HSBC Personal Internet Banking. It allows you to make money transfers anytime. You can either send a one-time transfer or set up regular transfers.

You can save by making international transfers online compared to in a branch. See our schedule of tariffs on the HSBC website for more details on transfer fees.

What's more, you now get live exchange rates online through Personal Internet Banking and Mobile Banking.

We also offer our Premier and Advance customers an online platform called Global View and Global Transfers (GVGT). GVGT allows you to view your HSBC accounts globally on one screen and send money instantly between them.

Please visit www.hsbc.co.om/moneytransfers for terms and conditions

 

 

Did you know that withdrawing money at an ATM overseas is usually cheaper than exchanging money at the airport before travelling?

 

When you exchange money at airport terminals, exchange rates are usually more expensive because of higher business costs and a higher margin which is often charged.

 

If you withdraw cash from an ATM abroad, you will be charged a withdrawal fee and a margin on the exchange rate.

 

When you use your Debit/ ATM card to withdraw cash overseas in the local currency of the country of withdrawal, you transaction is subject to the following charges:

 

– Withdrawal fee
– A foreign currency exchange rate
– A percentage charge on the exchange rate

 

If you decide to exchange currency directly when you are at the airport, you will not get the same exchange rate as when you withdraw money from an ATM.

 

How HSBC can help you:
HSBC Debit cards are accepted at over one million ATMs around the globe. In addition, HSBC is present in 80 countries. Premier customers are not charged withdrawal fee at HSBC ATMs worldwide. Our charges are transparent to all customers.

 

 

 

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These links may allow you to access other HSBC Group websites. Please read the terms and conditions of the linked website, which may differ from the terms and conditions of www.HSBC.com website.

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