[Tom1985]

OK, this is my last resort!! I need to transfer my money from my UK bank account to my HK bank account.

I've been into HSBC (my bank in HK) and my family have been into my bank/their bank in the UK to find out how to transfer money to my HK bank account.

I can't transfer money online since offshore transfers aren't aloud online. The bank in Britain is addament I need to give them an "Internation Bank Account Number" (IBAN), which HSBC insist does not exist. They have given me a swift code, bank code and my bank account number which they say is enough (sounds reasonable).

Does anyone have any idea how to transfer money from a British bank account to a Hong Kong bank account? Please help, I'm going broke fast!!

Thanks for any advice.

[jaykay]

Depends on which bank you're with in UK. I transferred money from Lloyds TSB to my bank here in HK with no problems at all using just the bank a/c no and bank name and address just by filling in a form. Was very simple. I actually have it set up now so that I can transfer here via the internet and vice versa from here to UK should I need to (with HSBC and BEA).

[discobay]

Alternatively, you can request an inwards transfer UK to HK.

[PDLM]

For NatWest the SWIFT code, bank name, bank address and account name/number are sufficient. But you can't do it via their online banking. I have for many years had what NatWest calls a "Fax Indemnity" instruction lodged with them which authorises them (at my risk) to act on instructions received by fax subject to making a confirmation phonecall to me on a number I specified. This has always worked fine for me. But you do need to set up the fax indemnity instruction in writing first - I did it in a UK branch but I guess they might accept something signed and sent to them by snail mail / courier.

[Pekkerhead]

HSBC in the UK don't realise that HSBC in HK doesn't use international bank account numbers. It took a while before one of the sharper pencils in the box realised this.

In the end we used a company called HIFX, as they tend to give a generous exchange rate and claim to waive all transfer charges (HSBC wanted to charge us 25 quid).

We have used them twice now for largish sums of money and haven't had a problem yet.

[Tom1985]

Thanks for all the replies.

Pekkerhead, I think thats pretty much the problem (my bank in the UK is a subsid of HSBC). Those guys are so annoying.

discobay, how does that work? Do I go into HSBC HK and ask them to transfer money from my UK account?

PDLM, I actually have an old account I dont use from Natwest. Maybe I could transfer all my money to that account then transfer it to HK.

jaykay, you're the second person to tell me that now. Damn my UK bank is crap. Time to close it me thinks.

Thanks

[KnowItAll]

>> HSBC in the UK don't realise that HSBC in HK doesn't use
>> international bank account numbers.

One of our members told us a story about walking into HSBC in Scotland .. to see if they could open their account in Hong Kong from there. The person they spoke to asked "are you sure HSBC has a branch in Hong Kong"....

Go figure ...

[discobay]

Yes just that. You fill in a TT form and need your UK bank's details.

[penguinsix]

I once got a call from a "HSBC" rep demanding I pay my credit card with them (which I didn't have). I suspected it might have been a phishing attempt and was like "ok, if you are HSBC, what does HSBC stand for?" They couldn't even answer so I hung up.

Turned out it was HSBC, but just a really dumb employee.

As for the main question, and this might just be a language thing, but with my banks (Citibank) a 'transfer' means one thing and a 'wire' means another. Transfering money between accounts requires both banks to be on the same 'wavelength'--I can transfer from my Citibank NY to Citibank SFO, but not to my Citibank HK. However, I can 'wire' funds from my account to damn near any account in the world.

I know it is silly, but is there a similar difference with a UK bank?

And as a previous thread suggested, if it is a minimal amount (<£1000) you may want to consder just using an ATM card. Doesn't sound like that, but thought I'd mention it.

[Boris]

I dont want to upset Disobay but I have a sneaky feeling you can't do that. Cos when I tried it couldn't happen.

The really simple simple way is
1) Walk in to HSBC in Uk.
2) Go to the Foreign exchange counter ( where you buy your beer tickets for the hols )
3) Ask the nice person for an international T/T ( Telegraphic Transfer ) form
4) Fill in the details - going to , Bank Name , Address , Swift code Amount
5) Repeat 4 without swift code for coming from .
6) Sign it, Get the nice person to stamp it and retain the customer copy. So when the money disappears to Mr Tony Soprano you have the proof that you did the right thing.

They will then process it and it will take 3 or 4 working days ( unless you need it priority )

Been their done that !!

HOWEVER -- you have to be the authorised signatory on the account. If your not then you have to talk with your nice relationship manager, whom I hope you know otherwise its a balls ache. They will ask for an authority letter from you ( as original , not a fax ) and then your designated person can do it for you.

FYI - ALL banks are the same , its an international protocol BUT not all bank persons have the same training. Even a doctor will send you to a specialist and the guys / girls on the front desk or at the counter will not neccesarily have Forex experiance or training. Go see the specialist at the Forex window.

FYI 2
HSBC is NOT the same and never has been in HK as it is in UK. Us oldies remember it ( in the Uk ) as Midland bank. Even HSBC is not all the same in HK. Just seen how many listings of HSBC companies there are. Different trading divisions are their own companies. Its easier to sell your asset book and get rid of your staff on the cheap.
Same with all the " Finacial institutions " world wide.

PS I hope I am wrong about Disco being wrong. He has done me good , in the nicest possible way , previously.