HSBC offers foreign exchange services for a variety of different currencies. At HSBC you also have the option to open a foreign currency savings account available in many of the world’s major currencies. They provide Renminbi, US Dollar, British Pound, Euro and Hong Kong Dollar savings accounts.
– How to open a Renminbi Savings Account in Canada
– How to open a US Dollar High Rate Savings Account in Canada
– How to open a British Pound High Rate Savings Account in Canada
– How to open a Euro High Rate Savings Account in Canada
– How to open a Hong Kong Dollar Regular Savings Account in Canada
These services will help ease the difficulties that arise with cross border financial processes. Selected accounts are also high rate savings accounts, furthering the incentive to open an account.
HSBC posts their foreign exchange rates online. Keep in mind that if you want the most up to date rates, you will need to contact any HSBC branch. You can call them toll free at 1-888-310-4722.
You can also have a look at HSBC’s currency exchange calculator to assess any transactions you may want to make.
There are several alternatives to HSBC available to you when evaluating where you should conduct your foreign exchange transactions. All of the five major Canadian banks (BMO, CIBC, RBC, Scotiabank, TD) offer foreign exchange services. You can access the resources at the bottom of this page to compare HSBC’s exchange rates with that of the other big banks, as well as most major credit unions. If you are looking to exchange cash, make sure you compare HSBC’s foreign exchange rates with those of competitors to ensure you get the best exchange rate.
If you are looking to do a currency transaction for a large amount ($5000+), you should shop around in order to ensure you get the best foreign exchange rate. At KnightsbridgeFX we offer a best rate guarantee, beating bank rates by 1-2%. If you are looking to make a large transaction, give us a call at 1-877-355-5239 to get a comparison quote.
HSBC’s product breadth is amongst the most comprehensive in the globe. Compare your current provider for the aforementioned financial services to HSBC’s offerings to ensure your financial needs are being met in the best possible way.
Headquartered in London, United Kingdom, HSBC is a multinational banking and financial services company with nearly 6,000 offices in 72 different countries and territories.
With around 48 million customers worldwide, HSBC’s aim is to be acknowledged as the world’s leading international bank. Initially established as a facilitate trade between Europe and Asia, HSBC now enables business opportunities on a global scale.
Thomas Sutherland started HSBC bank in 1865 to provide finances for the trade that was growing between India, China, and Europe. Though a local bank, it was to serve the banking needs internationally, and this accelerated its expansion from Hong Kong to Shanghai China within a month and later to other countries. The bank grew stronger in the 19th century, and it became Asia’s best financial institution. In 1991, the bank formed HSBC Holdings, a company that thrived well and ended up acquiring Midland Bank in full ownership, making it shift its headquarters to London. The bank has 3,800 offices established in 66 countries in all the continents. It has a foreign exchange calculator to ease money conversion and money transfers across the globe.
HSBC Canada received its charter to operate in 1981 under Canada’s Bank Act, and it assists people to efficiently manage the finances they have globally through retail banking, Global banking and markets, wealth management and commercial banking. The Canada branch had assets that accumulated to 2,522 billion United States dollars in the close of the year 2017. Some of its products are the provision of personal loans, global banking, insurance and investments, HSBC premier among others
It has acquired many enterprises over the years including the purchase of The Bank of British Columbia in 1986, Midland Bank Canada in 1988, Lloyds Bank Canada in 1989, HSBC Trust Company initially called Metropolitan Trust Company of Canada in 1995, M.K. Wong & Associates Ltd(HSBC Global Asset Management, Canada) in 1996, Barclays Bank of Canada in 1998, National Westminster Bank of Canada in 1998, Prenor Trust Company of Canada now HSBC Trust Company in 1999, Canada’s Republic National Bank of New York in 2000, CCF Canada in 2001, Intesa Bank Canada in 2004 and Household Financial Corporation Ltd currently called HSBC Financial Corporation Ltd.
The bank has various divisions that it currently operates. They include HSBC: Capital, Securities, Trust Company, Investments, and Insurance Agency. In giving back to the society, the Canada based bank sponsors various events and sporting clubs like Vancouver Canucks Hockey Club, Toronto Blue Jays, Baseball Club, Calgary Flames Hockey Club, Jetbridges at, Vancouver International airport, Toronto Pearson International Airport, Calgary International Airport and Montreal -Pierre Elliot Trudeau International Airport and McGill Management International Case Competition in Montreal (MMICC).
It also holds several memberships as follows: automatically it is a member of the Canadian Bankers Association. It is also registered with the federal agency in that issues deposits in all the banks in Canada that have charters called Canada Deposit Insurance Corporation. The membership of Hongkong and Shangai Banking Corporation, Canada extends to Mastercard, The Exchange, Interac and Cirrus Network.
Currently, Noel Quinn heads the bank as its Chief Executive Officer on an interim basis following the Resignation of John Flint. However, John Flint said that he is available for the bank to ensure that there is a smooth transition. Under his leadership, the bank posted a tremendous performance in its revenue the latest indicating 31% increase after ta up to USD4.9 billion in the first quarter of this year.
The bank foresees that it will continue with the growth momentum, become stronger in Asia, increase its investments, grow its revenue in the international market and ensure there is a progress in the United states turn around.
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