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Find out more about tariffs and charges (PDF).

What is the daily transaction limit for telegraphic transfers made over the counter at HSBC branches?

There is no daily limit for telegraphic transfers made over the counter at HSBC branches. However, the transaction must comply with BNM’s Foreign Exchange Rules. For more information, please visit https://www.bnm.gov.my/.

What is the daily transaction limit for telegraphic transfers via Online Banking?

For overseas telegraphic transfers, the maximum daily limit is RM200,000. The default limit for new-to-bank customers is RM5,000. Find out more about online banking limits. 

How much is the Beneficiary Bank Fee for telegraphic transfers?        

The amount varies from country to country and depends on the beneficiary bank.

What is an intermediary bank and how it can affect my telegraphic transfer?

An intermediary bank is a middleman between the payer bank and the beneficiary bank. An intermediary bank is often needed when international wire transfers occur between two banks, often in different countries that don't have an established financial relationship.

In the event where the transaction is suspected to be suspicious, the intermediary bank reserves the rights to reject the transaction. The intermediary bank also reserves the rights to charge fees (if any) during the transaction.

Will the beneficiary be charged with any fees for overseas fund transfer via telegraphic transfer?

The remitting bank, agent bank and/or beneficiary bank may charge a fee to beneficiary depending on the fees option you’ve selected during the payment submission.

• If sender selects “You’ll pay all fees”(OUR) under field “Fees” in the “Details” section when choosing the currency and stating the purpose of transfer, the sender will be charged including our charges and the charges by the intermediary bank and/or payee bank. We’re unable to advise you of the payee bank’s charges as they’re not within our control. These charges may be deducted from your account after the payment date.
  
• If sender selects “Payee will pay all fees”(BEN) under field “Fees” in the “Details” section when choosing the currency and stating the purpose of transfer, the receiver of the transfer will be charged including our charges and the charges by the intermediary bank and/or payee bank. We’re unable to advise you of the intermediary/payee bank’s charges as they’re not within our control.
  
• If sender selects “Fees will be shared”(SHA) under field “Fees” in the “Details” section when choosing the currency and stating the purpose of transfer, our charges for this payment will be deducted from your account. Your payee, the receiver of the transfer will be charged including our charges and the charges by the intermediary bank and/or payee bank. We’re unable to advise you of the intermediary/payee bank’s charges as they’re not within our control.
  

Can I transfer foreign currencies at any time of the day?

Yes, you can transfer foreign currencies at any time. However, do note that the actual exchange rate will only be available at the following hours:

• Foreign currency conversion involving Malaysian Ringgit: 9:00am to 12:00am on business days
• Foreign currency conversion not involving Malaysian Ringgit: any time, any day

Foreign currency conversion rates quoted outside the above hours will be an indicative rate only. The actual exchange rate on the next business day will be applied accordingly. 

Do I get a preferential rate for using over-the-counter or Online Banking services?

The fees and charges for a customer's use of any services will be agreed in the customer's pricing package (standard/preferential).

When will my beneficiary receive the funds?

Below is the indicative timeframe for funds to reach your beneficiary:

• If the transfer is being made to a beneficiary bank that is part of the HSBC Group: 2 banking days (transaction date + 1 banking day) from the date of instruction
• If the transfer is being made to a beneficiary bank that is not part of the HSBC Group: 3 to 6 banking days from the date of instruction, depending on the following:

a. Location of the beneficiary bank (i.e. whether the beneficiary bank is located at remote areas) and

b. whether it may involve multiple correspondent banks. The actual time taken for a beneficiary to receive the money will depend on, among other factors, the respective correspondence bank or beneficiary bank and the daily cut-off times as established by HSBC Bank Malaysia Berhad (the Bank) from time to time.

If I'm transferring funds to a foreign currency account, where can I check the exchange rate?

• For 'Send now' transactions: Under the 'Pay and transfer' page, the exchange rate will be shown in the 'Rate' field after you've finished filling in the 'From' and/or 'To' foreign currency account details. Do note that the exchange rate shown is applicable for a limited time only; you have to refresh the page for a new rate once the quoted exchange rate expires.
• For recurring or future dated transactions: You can check the exchange rate from your debit account transaction history after the transaction has been executed.

Does the payee’s residency affect the transaction?

The payee’s residency status and purpose of transfer are subjected to BNM’s Foreign Exchange Notices. Find out more at https://www.bnm.gov.my/fep.

What should I do if the fields are too small to enter the full name or address of my payee?

If the payee’s name exceeds 35 characters, please continue typing in the “Address line 1” field below. An Outward Telegraphic Transfer (OTT) sent via SWIFT has a limitation on the number of characters that can be sent. Please input as much of the name or address as possible.

I have keyed in details incorrectly such as the account number, payee’s name and bank. How should I amend the details or cancel the transaction? Will there be any charges imposed for this?

Once the transaction has been submitted, you will not be able to cancel the transaction from your end. Please visit your nearest HSBC branch and request a cancellation or amendment. Cancellation or amendment fees may be imposed. Please refer to our tariff and charges (PDF) for more information.

Will my OTT be rejected after the transaction is completed? Will the payee be charged with any fees?

Your OTT may be rejected by the parties involved in remitting the funds if the beneficiary details are incorrect or payment details are incomplete.

The Cable Fee and Agent Bank Fee and/or Beneficiary Bank Fee charged (if any) are not refundable if your OTT is rejected.

If the transaction is not deducted from my account, what should I do?

The deduction will not be instant as the transaction will take at least 1-3 working days from the submission date to be reflected in your account. If the receiver has not received the transaction within 3 working days, please contact or visit your home branch for assistance.

What is a SWIFT/BIC/BSB/IBAN Code?

SWIFT/BIC/BSB/IBAN Code is a unique identification code of a particular bank or bank branch.