Global Wallet is fully integrated within HSBC’s existing business banking platform, HSBCnet, and by using the bank’s global payments network, allows SMEs to ‘pay and receive like a local’. Global Wallet reduces the time in which money can be delivered to an overseas beneficiary and removes the need for businesses to use third-party providers for international transactions, as the press release says.
SMEs can send and receive money in 10 currencies and hold and manage those currencies by establishing a single banking relationship with HSBC Malaysia.
HSBC Global Wallet lets you pay and receive like a local in 10 currencies: HKD, USD, JPY, CNY, CHF, AUD, CAD, GBP, EUR and SGD within the same or next day. More currencies will be made available progressively.
Minimising correspondence fees means that SMEs can make cheaper and faster payments by using on HSBC’s global payment network
By showing customers the exchange rate before they execute a payment, and by fixing it to ensure the right amount settles in the beneficiary’s account, HSBC Global Wallet allows customers to operate internationally with confidence.
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