HSBC Bank (Singapore) has added a 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.
HSBC Global Money Transfer enables HSBC Everyday Global Account customers to seamlessly hold, manage and send money to over 20 countries and territories, 24/7, via their mobile.
HSBC said it is also the only global bank in Singapore to offer direct RMB fund transfer to mainland China's UnionPay Cardholders.
Mr Anurag Mathur, Head of Wealth and Personal Banking, HSBC Bank (Singapore) said: "Maintaining familial connections 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 pleased to partner with 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."
