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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 & Benefits
|
Safe 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. FREE transfers to other accounts - Transfer funds to other bank accounts in India, for free, through Personal Internet Banking offered by HSBC India (once funds are credited into your NR account). |
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?
| 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. |
| *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 & 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?
| 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 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 days.
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Features & 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 days from the day of deposit of the cheque in the local branch of HSBC by the beneficiary in India. |
Who can send?
| This facility is available to NRIs across the globe for sending money into accounts 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.
1 For NRIs in UK: The NRI can instruct HSBC Bank plc / first direct to transfer funds from his/her GBP account with HSBC Bank plc/first direct in UK using the bill payment module available through Phone Banking and through Personal Internet Banking offered by HSBC Bank plc / first direct, to his or her account with HSBC in India(NR account) and this will be done free. HSBC Bank plc/first direct customers can also give these instructions using the direct debit form on www.hsbc.co.in or by sending a cheque drawn on the NR's account with HSBC Bank plc/first direct in UK.
2 For NRIs in UAE: Transfers from the UAE are free only if the funds are transferred from your AED account with HSBC Bank Middle East Limited to your own NR account with HSBC India.
3 For NRIs in HK: The transfers are free only if done from your HKD account with HSBC Hong Kong to your NR account with The Hongkong and Shanghai Banking Corporation Limited in India. Only transfers to an NR savings/current account can be done instantly. Also, only transfer requests submitted before 3:55 p.m. for Monday to Friday or 11:55 a.m. for Saturday ( Hong Kong time) will be processed on the same day. All transfer requests submitted afterwards will be processed on the next working day. The term 'working day' refers to a bank working day in both Hong Kong and India.
All foreign currency transactions through HSBC India are subject to Service Tax. Please Click here for details.
# As per current local regulations the permissible remittance from the balances in NRO accounts is up to USD 1 million, per financial year for all bonafide purposes. The remittances (net of applicable taxes) will be allowed to be made on production of an undertaking by the remitter and a Certificate from a Chartered Accountant in the prescribed formats.
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