HSBC Launches Multi-Currency Wallet for Simplified International Payments

First US bank that lets US small- and medium-sized businesses “pay like a local” in foreign currencies

NEW YORK--()--HSBC USA today announces the launch of a multi-currency digital wallet that enables businesses to make international payments simply and securely.

HSBC Global Wallet is the first multi-currency offering by a U.S. bank that removes the need to use third-party providers for foreign exchange and international transactions. HSBC clients in the United States can send money in a number of currencies, and hold and manage those currencies.

HSBC Global Wallet uses the bank’s global payments network and is fully integrated with the bank’s existing business banking platform, enabling customers to “pay like a local.”

HSBC Global Wallet launches initially in the United States with payment capabilities in Euros, UK Pound Sterling, Hong Kong Dollars, Canadian Dollars, Singapore Dollars, Australian Dollars and Malaysian Ringgit, and will be enhanced later this year to support receive capabilities for these currencies.

HSBC is taking an agile product development approach and rolling out digital innovations that address the needs of businesses. HSBC Global Wallet also launched today in the United Kingdom and Singapore. Further markets will follow in 2022, and the bank has a pipeline of new currencies and enhancements.

“We are excited that the US is one of the first markets in which we are launching HSBC Global Wallet,” said Drew Douglas, Head of Liquidity & Cash Management, US and Canada. ”As we continue to focus on making international business easier and more efficient, this innovative solution will allow our commercial US clients to more effectively manage their foreign currency balances locally and to pay internationally like a local. We are excited for the launch and looking forward to expanding the breadth of currencies as we move forward and to introducing receive ‘like a local’ functionality in the very near future.”

Sending money internationally is often a complex and time-consuming process, with foreign exchange rates frequently unmanaged and high transaction fees. Targeted at small- and medium-sized U.S. businesses with international supply chains, HSBC Global Wallet enables payments to be delivered to a beneficiary’s account usually within minutes of being sent.

HSBC clients benefit from managing FX upfront and ensuring the correct amount settles in the accounts of their international suppliers and vendors. Thus HSBC Global Wallet allows U.S. businesses to operate globally with greater confidence.

HSBC Global Wallet provides instant access to currencies from within customers’ day-to-day banking platform, allowing for greater visibility of cash flow, and is backed by the trust and security of HSBC’s global network, with more than 1.3 million business customers in 53 markets.

Each currency wallet works like a local account, enabling international payments to the United Kingdom, Canada, Hong Kong, Singapore, Australia, Malaysia and the 19 markets in the Eurozone made over domestic real-time payment networks. More information about HSBC Global Wallet, including a video illustrating the wallet’s payment functionality is available at

Research conducted by HSBC for its annual Navigator survey revealed that 87 percent of U.S. businesses see expansion into new markets as an immediate priority. The same percentage said digital tools and platforms were a priority, while 92 percent said they would be prioritizing cash flow and capital management.

HSBC is developing and deploying some of the industry’s most advanced and innovative technology. HSBC USA was the first market to launch the Global Money Account, in November 2020. This multi-currency account allows HSBC Wealth and Personal Banking customers to convert, hold and transfer multiple currencies from one account, allowing them to hold up to eight currencies at once and send money to more than 15 countries to other eligible HSBC accounts instantly and fee-free. In the coming months HSBC will be rolling out additional features.

Notes to editors:

About HSBC


HSBC Bank USA, National Association (HSBC Bank USA, N.A.) serves customers through retail banking and wealth management, commercial banking, private banking, and global banking and markets segments. It operates bank branches in: California; Washington, D.C.; Florida; Maryland; New Jersey; New York; Pennsylvania; Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of HSBC North America Holdings Inc. In the United States, deposit products are offered by HSBC Bank USA, N.A., Member FDIC, investment and brokerage services are provided through HSBC Securities (USA) Inc., (Member NYSE/FINRA/SIPC) and insurance products are provided through HSBC Insurance Agency (USA) Inc.

HSBC Commercial Banking

For over 150 years we have been where the growth is, connecting customers to opportunities. Today, HSBC Commercial Banking serves over 1.3 million customers across 53 markets, ranging from small enterprises focused primarily on their home markets through to corporates operating across borders. Whether it is working capital, term loans, trade finance or payments and cash management solutions, we provide the tools and expertise that businesses need to thrive. As the cornerstone of the HSBC Group, we give businesses access to a geographic network covering more than 90% of global trade and capital flows.

HSBC Group

HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of $2,959bn at 31 March 2021, HSBC is one of the world’s largest banking and financial services organizations.


Media enquiries to:
Rob Sherman (646) 939-6998
US Head of Media Relations

Release Summary

HSBC USA today announces the launch of HSBC Global Wallet, a multi-currency digital offering that enables businesses to make international payments


Media enquiries to:
Rob Sherman (646) 939-6998
US Head of Media Relations