HSBC Bank has launched a real-time payments platform called the ‘HSBC Global Money Account’, which allows customers to hold, manage and send money overseas.
The platform will allow the bank’s customers to transfer money across 20 countries in multiple currencies from a single account, round the clock.
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The new Global Money instant payments option comes without any fees.
It offers instant currency conversion and allows customers to hold eight currencies online. These include USD, EUR, GBP, CAD, AUD, NZD, HKD and SGD.
The Global Money Account allows users to send money to and from any HSBC bank account, receive preferred foreign exchange (FX) rates, and conduct day-to-day account tasks.
The bank customers can use the existing banking app to sign up, without requiring additional documents or filling up forms.
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By GlobalDataHSBC group head of HSBC Global Money Matthias Dekan said: “As the world’s leading international bank, it is our ambition to put banking in our customers’ pockets and create a top-tier borderless banking experience that lets them manage their finances whenever and wherever they want.
“The HSBC Global Money Account further supports our customers in being able to manage their finances from the comfort and safety of their homes or when they are on the go.”
HSBC USA head of digital payments, wealth and personal banking Carolyn Criscitiello said: “The ambition for Global Money Account is to provide our customers with one global account for all of their financial needs so that if they move from one market to another, they do not need to open a new account, they just take their existing account with them.”
The new product launch follows the launch of real-time payments by the bank last month.
HSBC noted that it will add more currencies to the platform later and offer the service in markets such as Singapore, the UAE, India and the Channel Islands.
