HSBC Canada sale to the Royal Bank of Canada

The HSBC Group agreed to sell HSBC Bank Canada to the Royal Bank of Canada. From the 28 March 2024, HSBC Canada customers will have the option to become customers of the Royal Bank of Canada.

The transaction is purely in relation to HSBC Canada and is based on the specific attributes of that business. It does not concern other parts of the HSBC business in the Americas or elsewhere.

If you held a Global View link from HSBC Canada to another HSBC country/region, prior to the sale you were contacted to gain your consent to keep the service when your account was migrated to Royal Bank of Canada.

If you consented by accepting the updated Global View Terms & Conditions; you’re now able to view your Royal Bank of Canada chequing and savings accounts in HSBC Online and Mobile Banking in jurisdictions in which you have Global View; and your HSBC chequing and savings accounts in the Royal Bank of Canada Online and Mobile Banking. 

To fully activate this service with Royal Bank of Canada, you need to digitally enrol with Royal Bank of Canada and accept the Royal Bank of Canada Terms & Conditions of the Global View service. You can complete this through the Royal Bank of Canada Online Banking. The service will not work until this is completed.

Your Royal Bank of Canada accounts will show under the header 'Canada - Royal Bank of Canada' in your HSBC Global View.

If you’ve not consented to extend your HSBC Global View service to Royal Bank of Canada, your Global View link to HSBC Canada was removed shortly before the Completion of Sale on 28 March 2024. Relinking your accounts is no longer available.

If you’ve consented before the deadline 23:59 (PT) on 21 March, you’ll be able to view your HSBC chequing and savings accounts that you have linked in Global View. You won’t be able to see other accounts or products that you may have, for example your credit card or investment account.

Similarly, in HSBC Online and Mobile Banking, you will be able to view your Royal Bank of Canada chequing and savings accounts in HSBC locations where you have Global View.

At 18:00 (PT) on 28 March 2024, migration activity to Royal Bank of Canada began; at which time HSBC Canada started blocking access to the HSBC Canada digital channels. During the weekend (28 March – 01 April 2024), customers will not see their HSBC Canada or Royal Bank of Canada balances in other HSBC country/regions, and you’re likely to see an error message.

When migration is completed, you’ll be able to view your Royal Bank of Canada chequing and savings accounts in HSBC Online and Mobile Banking in jurisdictions in which you have Global View. 

To fully activate this service with Royal Bank of Canada, you need to digitally enrol with Royal Bank of Canada and accept the Royal Bank of Canada Terms & Conditions of the Global View service. You can complete this through the Royal Bank of Canada Online Banking. The service will not work until this is completed.

Your Royal Bank of Canada accounts will show under the header ‘Canada – Royal Bank of Canada’ in your HSBC Global View.

During migration weekend (28 March – 01 April 2024):

If you are seeing an error message such as: “Sorry, there was a problem loading your accounts”; the migration of accounts is still in progress and could take until 01 April 2024 to complete.

After migration weekend (28 March – 01 April 2024):

Firstly, you must have consented for this service to HSBC prior to 23:59 (PT) on 21 March. If you did this, in order to fully activate this service with Royal Bank of Canada, you need to digitally enrol with Royal Bank of Canada and accept the Royal Bank of Canada Terms & Conditions of the Global View service. You can complete this through the Royal Bank of Canada Online Banking. The service will not work until this is completed.

Your Royal Bank of Canada accounts will show under the header 'Canada - Royal Bank of Canada' in your HSBC Global View. If this is not reflected in your mobile app, please ensure you have downloaded the latest version of the app available (3.42 or higher).

If you didn’t consent to extend your HSBC Global View service to Royal Bank of Canada, your Global View link to HSBC Canada was removed shortly before the Completion of Sale on 28 March 2024. Relinking your accounts is no longer available.

Your account visibility in the RBC/HSBC Global View dashboard depends on 3 factors:

1. You need to accept the T&Cs through your Royal Bank of Canada Online Banking.
2. You must have a chequing and/or savings accounts as those are the only accounts eligible to be viewed in the Global View dashboard.
3. Your accounts must be active to appear in the Global View dashboard. Inactive or dormant accounts are not included.

If you didn’t consent to extend the Global View service to Royal Bank of Canada by 23:59 (PT) on 28 March 2024, your Global View link to HSBC Canada was removed. Relinking to Royal Bank of Canada your account is no longer available.

You can remove your Global View link through the Online Banking services of either Royal Bank of Canada or HSBC at any time.

Please note, removing the Global View link between Royal Bank of Canada and HSBC is permanent. Relinking to Royal Bank of Canada using the HSBC Global View service is not possible.

Your consent via HSBC Canada Online Banking will apply to all your HSBC Global View linked accounts. You can remove non-Canadian HSBC accounts you do not want to keep linked at any time in HSBC Online Banking or in Royal Bank of Canada's Online Banking after the migration weekend (28 March – 01 April 2024).

No. The sale has not affected the viewing capability of other international HSBC accounts linked through the HSBC Global View service.

Transferring money between your HSBC and Royal Bank of Canada accounts is available via International payments in HSBC Online and Mobile Banking. HSBC Global Money Transfers service is also available on mobile in certain countries/ regions. See your local HSBC website for more information.

Refer to Royal Bank of Canada’s Help Guides for information on Royal Bank of Canada’s international payment options.

Please find below the new terms and conditions of Global View Service in different languages.

Global Money Transfers (GMT) is a service which allows HSBC customers to send money abroad, make international payments and transfer money to their overseas accounts on the HSBC mobile app. For more details, please visit HSBC's website corresponding with the country/region you hold account in.

If you're a Premier customer with accounts linked internationally using the HSBC Global View service, you can use the Global Transfers service to make payments to and from Canada, until 10 p.m. EST 16^th March 2024 (10 a.m. 17^th March in Hong Kong).

After this point, you can make payments internationally using other solutions such as Global Money Transfers (GMT) available for UK, US, UAE, Singapore, Australia, HSBC Expat (Jersey) and India (available on your HSBC mobile app).

Alternatively, for international payments and transfers, you can also use the International Payment service on both HSBC online banking and mobile app.

If you currently don't have accounts linked internationally using the HSBC Global View service and therefore don't use the Global Transfers service, there is no change to your payment options. You can continue to make payments internationally using the GMT service on the HSBC mobile app or International Payment service.

If you have payees set up for HSBC Canada using the Global Transfer (GT) service or Global Transfer Friends and Family (GTFF) service, these payees' details will no longer be valid from 10 p.m. EST 16^th March 2024 (10 a.m. 17^th March in Hong Kong), and these payees will be deleted from your Global Transfers/ GTFF payment journeys for you.

If you use the International Payment service to pay yourself or others in Canada, we will not change your payee listings. New payees and payment instructions will need to be set-up by you, using your/ your payee’s new Royal Bank of Canada account details. If you have set-up future-dated payment(s); for 6 months after the sale, we will re-direct the payments originally going to your or your payees' HSBC Canada account(s) to your or your payees' new Royal Bank of Canada account(s). After 6 months, such payments will not be processed with HSBC, and will fail.

If you use HSBC Global Money Transfers (GMT) to make payments to yourself or others in Canada, you will need to set up new payees using the payee's new Royal Bank of Canada account details.

If your future-dated and recurring payments are set up in HSBC Canada internet banking or mobile banking app using the Global Transfers Me to Me and/or Global Transfer to Family and Friends (GTFF) service, the transaction will be stopped from 10 p.m. EST 16^th March 2024 (10 a.m. 17^th March in Hong Kong). Alternative international payment options are described in detail on your local HSBC website.

If you currently use the International Payments service to pay yourself or others in HSBC Canada, and you have set-up future-dated payment(s); for 6 months after the sale, we will re-direct the payments originally going to your or your payees' HSBC Canada account(s) to your or your payees' new Royal Bank of Canada account(s). After 6 months, such payments will not be processed with HSBC, and will fail. New payees and payment instructions will need to be set-up by you, using your new Royal Bank of Canada account details.

Yes, normal fees will apply when using either the HSBC Global Money Transfers (GMT) or International Payments services to make payments to Canada.

Payment limits will not align with what you previously had with Global Transfer service. For more details, please visit your local HSBC website.

No. HSBC's Global Money Transfers (GMT) and International Payments services can take up to 5 days to process.

You can use GMT service to make payments and transfers to the Royal Bank of Canada in UK, US, UAE, Singapore, Australia, HSBC Expat (Jersey), India. The service is continuously expanding, and more countries/regions will be added in the future.