HSBC UK makes change for customers who have £25,000 or more in account

HSBC UK has added international payments tool to its kinetic business banking app. Small business owners with a HSBC Kinetic current account can now send and receive international payments via HSBC UK’s award-winning app, the high street bank has said.

HSBC UK is rivalled by the likes of Santander, Lloyds, Barclays, NatWest, Nationwide and more. HSBC Kinetic current account customers have previously been able to make international payments by phone and in branch, but can now self serve up to the daily payment limit of £25,000.

They can do so from over 200 countries and territories, HSBC UK has gone on to explain. Customers can also benefit from the in-app indicative rate tool to get an idea of the converted currency amount, the exchange rate and how much they will be charged.

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Peter McIntyre, Head of Business Banking at HSBC UK said: “This is an important step on our mission to empower small businesses with features that help them to grow. By simplifying international payments using the HSBC Kinetic app, we’re enhancing the overall user experience for our small business customers and responding to customer feedback.”

Peter McIntyre added: “At HSBC we’re ideally placed to help business to trade internationally due to our unique global footprint. From the diversity of international payments being made and received by HSBC Kinetic customers we can see just how important international trade is to businesses of all sizes and sectors.”

The UK’s small businesses are increasingly international in their outlook, whether this be a desire to secure supply chains from overseas, or by spreading demand risks by selling internationally, the high steeet banking giant has also gone on to say.

Europe is the most popular target market for international payments, according to data from HSBC Kinetic Current Account customers, just ahead of the United States of America.