If you’ve got family living in the UK, you may find you need to send money from time to time. Here are some of the key things to know.
What details do you need?
Before you send the money it's important that you have the following details to hand about the person (beneficiary) you’re sending money to and the payment you’re wanting to make:
- your account details
- beneficiary's full name and address
- beneficiary's bank code – normally the BIC (Bank Identifier Code)
- beneficiary’s IBAN (International Bank Account number) or account number. An IBAN is a series of letters and numbers that help identify accounts held anywhere in the world, some beneficiaries may hold just an account number depending on their bank
- country of the beneficiary’s bank i.e. UK
- amount of the payment
Explore more: How does banking work in the UK?
How much can you send?
This will differ depending on your bank and your daily limit. It’s best to check with your bank to see how much you can send.
What exchange rate is used?
The exchange rate will change depending on the day and time your payment is made. It will also depend on the bank or company you use to send the money. Before completing the transfer your bank should be able to tell you about the exchange rate used.
How long will it take?
This will differ depending on your bank. For HSBC customers, payments within the European Economic Area will normally be credited the next working day and all other payments will normally take up to four working days.1
How much does it cost to send?
This will depend on your bank and the bank you’re transferring to.
Already have an HSBC account in another country?
If you have an eligible HSBC account in another country, you may be able to use our Global View and Global Transfers service to send money to the UK.