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Canada - Remittances

Canada - Remittances

Wire Transfers - Canada

NRIs residing in a host of countries across the globe can use the Wire Transfer facility to send money into their NR accounts in India.

HSBC Wire Transfers enable you to fund your NR account with HSBC India, in just 2 working days*, safely. You can send money in as many as 14 currencies.

So go ahead - wire your funds in any of the following currencies - US Dollars (USD), British Pounds (GBP), Euro (EUR), Japanese Yen (JPY), Canadian Dollars (CAD), Australian Dollars (AUD), Hongkong Dollars (HKD), Singapore Dollars (SGD) , Swiss Francs (CHF), UAE Dirhams (AED), Saudi Riyal (SAR), Swedish Krona (SEK), Danish Krone (DKK) or South African Rand (ZAR).

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In case you would like to wire transfer funds to HSBC India, you will need to provide the following instructions to your bank :

Kindly arrange to remit _______________ (currency and amount) to HSBC, India account no. ________________ (from table given below) with ________________ (Bank name and location - from table given below) for further credit to account no. ____________________ (your / beneficiary account no.) with HSBC, India - SWIFT Code: HSBCINBB.

Currency Account Number Bank
USD 000-04417-2 HSBC, New York
SWIFT Code - MRMDUS33
ABA Routing Number - 021-001-088
CHIPS Code - 302755
GBP 35189048 HSBC, London
SWIFT Code - MIDLGB22
CHAPS Code - 40-05-15
YEN 009-105412-091 HSBC, Tokyo
SWIFT Code - HSBCJPJT
EUR 59197302 HSBC, London
SWIFT Code - MIDLGB22
CHAPS Code - 40-05-15
IBAN - GB45MIDL40051559197302
CHF 230-86105.05V UBS Zurich
SWIFT Code – UBSWCHZH
IBAN - CH880023023008610505V
AUD 001-795020-041 HSBC Bank Australia
SWIFT Code - HKBAAU2SSYD
CAD 930-131037-060 HSBC Bank Canada
SWIFT Code - HKBCCATT
HKD 002-962389-001 HSBC Bank HongKong
SWIFT Code - HSBCHKHHHKH
SGD 141-311753-001 HSBC Bank Singapore
SWIFT Code - HSBCSGSG
AED 020-116901-001 HSBC Bank Middle East Ltd., Dubai
SWIFT Code - BBMEAEAD
SAR 001-552512-021 Saudi British Bank, Riyadh
SWIFT Code - SABBSARI
SEK 5201-85-28564 Skandinaviska Enskilda Banken, Stockholm
SWIFT Code - ESSESESS
DKK 52713-6 Danske Bank, Copenhagen
SWIFT Code - DABADKKK
ZAR 121 002000 001 HSBC Bank Plc, Johannesburg
SWIFT Code - HSBCZAJJ

 

Features & BenefitsFeatures & Benefits

Use Wire transfers - For your high value remittances.

Faster transfers - Credits into your NR account in just 2 working days* from the day of receipt of funds by HSBC India.

Transfers to other accounts - Once your funds are credited to your HSBC India NR Account, transfer funds to other bank accounts in India through Personal Internet Banking offered by HSBC India

 

Who can send?Who can send?

NRIs residing in Canada and holding an account with a bank in Canada can use the Wire Transfer facility to send money into their NR account with HSBC India.

 

How to remit?How to remit?

The Wire Transfer process is extremely simple. Visit your bank branch and instruct them to remit the specified amount of money into your HSBC India NR account.
Payments are subject to cut off times.
All foreign currency transactions through HSBC India are subject to Service Tax. Please Click here for details.

*The term 'working days' refers to days that are bank working days in both, the country of remittance and HSBC India.

In case of a wire transfer done to a Resident Savings account held with HSBC India, an inward remittance fee of INR 300 (plus applicable taxes) and finance charges of INR 50 (plus applicable charges) will be debited from the beneficiary account.

NR accounts and NRI Services are offered by The Hongkong and Shanghai Banking Corporation Limited in India (HSBC India) under the Reserve Bank of India Non-Resident Indian Program. HSBC India is not regulated in Canada.

Indian Rupee Drafts

You can now deposit an Indian Rupee Draft, issued by any of HSBC India’s correspondent banks into any branch of HSBC India and get the beneficiary account credited in just 3 working days#.

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Features & BenefitsFeatures & Benefits

Faster Transfers: HSBC India account gets credited in just 3 working days#.

Freedom from unfavourable exchange rates: Uncertainty on exchange rates, typical of all transfers in foreign exchange, does not exist as the draft is in Indian Rupees.

Added benefit of knowing the final Indian Rupee amount upfront, especially when credit of exact amount is critical.

 

Who can send?Who can send?

To send money to an HSBC India account, NRIs in Canada can issue a rupee draft from their HSBC Canada account or any other overseas bank accounts. The draft should be payable in India.

 

How to deposit a rupee draftHow to deposit a rupee draft

The beneficiary can deposit the rupee draft into any branch of HSBC India.
# The term ‘working days’ refers to days that are bank working days in both, the country of remittance and HSBC India. The credit in 3 working days is subject to availability of funds in the correspondent bank’s Indian Rupee account with HSBC India.

HSBC India is the branch of The Hongkong and Shanghai Banking Corporation Limited and not regulated in Canada. NR accounts and NRI Services are offered by HSBC India under the Non-Resident Indian program of the Reserve Bank of India. HSBC India is not a member of the Canada Deposit Insurance Corporation (CDIC) therefore NR accounts with HSBC India are not CDIC insured.

Foreign Currency Cheques/Drafts

To send money to India the traditional way, write out a local currency cheque and mail it to the beneficiary. As soon as the beneficiary deposits this cheque into a branch of HSBC India, HSBC India will credit the account in 14 -21 working days#.

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Features & BenefitsFeatures & Benefits

Simple mode of transfer - Write out a local currency cheque and mail it to the beneficiary in India.

Fast credit - Credit to HSBC India account in 14-21 working days# from the day of deposit of the cheque in the local branch of HSBC by the beneficiary in India.

 

Who can send?Who can send?

This facility is available to NRIs across the globe for sending money into accounts with HSBC India.

 

Charges are applicable
All foreign currency transactions through HSBC India are subject to Service Tax. Please Click here for details.
# The term 'working days' refers to days that are bank working days in both, the country of remittance and HSBC India. The credit in 3 working days is subject to availability of funds in the correspondent bank's Indian Rupee account with HSBC India.

HSBC India is the branch of The Hongkong and Shanghai Banking Corporation Limited and not regulated in Canada. NR accounts and NRI Services are offered by HSBC India under the Non-Resident Indian program of the Reserve Bank of India. HSBC India is not a member of the Canada Deposit Insurance Corporation (CDIC) therefore NR accounts with HSBC India are not CDIC insured.

NR Accounts and NRI Services are offered by The Hongkong and Shanghai Banking Corporation Limited in India (HSBC India) under the Reserve Bank of India Non-Resident Indian Program.

NR deposits are offered under the Reserve Bank of India program for Non-Resident Indians and are governed by the rules in effect from time to time relating to such programs, are subject to the sovereign risk arising from, and governed by the laws of, or any changes to the laws of India.

Deposits/investments made with non-UK members of the group do not benefit from the protection provided under the UK Financial Services and Markets Act 2000, including the UK Financial Services Compensation Scheme.

NR deposits with the Bank in India are not insured by Federal Deposit Insurance Corporation (FDIC) of the U.S.A., nor by any other insurance company or corporation outside India and are payable only at the branch of the Bank in India where the deposit is made. Under current U.S. tax laws, U.S. citizens and residents are subject to tax on their worldwide income. You should consult your tax advisor for the U.S. treatment of income from these deposits.

HSBC India is the branch of The Hongkong and Shanghai Banking Corporation Limited and HSBC India is not regulated in Canada. NR deposits with the Bank in India are not insured by Canadian Deposit Insurance Corporation (CDIC), nor by any other insurance company or corporation outside India and are payable only at the branch of the Bank in India where the deposit is made. You should consult your tax advisor for the Canada treatment of income from these deposits.

NRI accounts and services are offered by The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India). HSBC India is a branch of The Hongkong and Shanghai Banking Corporation Limited. The Hongkong and Shanghai Banking Corporation Limited has a Representative Office in the UAE licensed by the Central Bank of the United Arab Emirates.

Deposits/accounts held with HSBC India are not protected deposits under the Hong Kong Deposit Protection Scheme and are not protected by such scheme.

For Residents within Kingdom of Bahrain, we remind you that deposits made with HSBC India do not benefit from the protection provided under the Deposit Protection Scheme established by the Central Bank of Bahrain regulation concerning the establishment of a Deposit Protection Scheme and a Deposit Protection Board.