Finance & Economics

HSBC expanded currency offerings

HSBC Global Wallet targets SMEs with international supply chains

HSBC

HSBC expanded currency offerings. Source: shutterstock.com

HSBC Bank USA has announced new offerings today for current and new Business Banking customers who buy from or sell to international companies.

These will be available for new and current business banking customers who sell to buy from international firms. SMEs can now pay, receive, transfer and hold funds in the same FDIC-insured business accounts (U.S based). HSBC Global Wallet is the initial digital wallet that offers multi-currency and can be accessed from major banks in the United States that offer collections and local remittances.

The currency offerings have been expanded to include Japanese Yen, Chinese Yuan, Malaysian Ringgit and Swiss Francs. Other currencies may be added over time.

Since May 2021, the platform has supported American Dollars, Hong Kong dollars, Euros, UK Pound Sterling, Canadian Dollars, Australian Dollars and Singapore Dollars.

And now, with HSBC Global Wallet, users will perceive and pay in multiple foreign currencies. They will also transfer and hold currencies from the same business account. This move will save money and time, ease international payments and reduce fees.

This innovative solution is fully integrated with HSBC’s existing business banking platform, bringing the strength of the HSBC international network to our small and medium-sized business US customers, supporting a much more efficient expansion of their international businesses
Drew Douglas, Head of Liquidity & Cash Management, US and Canada

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