United States
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20 June 2005
HSBC INTRODUCES FREE New York -- HSBC Bank USA, N.A. (NYSE: HBC) today announced the introduction of its free global money transfer service. The new "Easy-Send" account allows U.S. accountholders to get money to relatives and friends around the world fast and free. While initially focused on the more than 100 million transactions a year to Mexico and Latin America, the account from the world's local bank is the first of its kind that will let customers send money anywhere in the world. "We're thrilled to give our customers a safe, fast and free way to get money to their friends and family around the world," said Kevin Newman, head of the bank's Personal Financial Services unit. "The volume of international money transfers has grown to more than $100 billion a year, and it is clear consumers want a better way to send money." Customers who enroll in this service can move money from their primary checking accounts to fund the secondary account. Authorized individuals may access money in the secondary account with a provided HSBC ATM card. The cardholders can withdraw the funds at any of 960,000 ATMs around the world. There is no surcharge at any of the 16,000 global HSBC ATMS, including 8,000 in Latin America. Accountholders can transfer money from their primary accounts to the secondary account using HSBC Personal Internet Banking at http://us.hsbc.com, at any U.S. branch or via telephone. Customers may open multiple "Easy-Send" secondary accounts, allowing them to send money to multiple authorized individuals. U.S. accountholders also get free access to HSBC's award-winning Personal Internet Banking and free online bill pay services, standard checking account features and more than 400 branches in the U.S. HSBC Group banks have more than 3,500 branches and 8,000 ATMs throughout Latin America to make fund retrieval convenient. HSBC does business in 77 countries and territories around the world. HSBC charges no fee for the transfer of funds. Foreign exchange fees apply at ATMs abroad. Other fees may apply when using an ATM that is not owned by HSBC. Minimum balance requirements and/or a monthly fee will apply to the qualifying checking accounts. Easy Send accounts are subject to the banks anti-money laundering checks and accountopening requirements. HSBC does accept valid Mexican Matricula Consular identification cards as part of the account-opening process.
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