Customers with accounts in Pakistan: IBAN account identification now required for payments to/from Pakistan

In compliance with State Bank of Pakistan regulations, we are pleased to inform you that HSBC Bank Middle East Limited has successfully applied the International Bank Account Number (IBAN) for all your HSBC accounts, which will be used for all inward and outward remittances from and to Pakistan.

IBAN is an international standard for identifying bank accounts (excluding credit cards). The main purpose of IBAN is to facilitate the automatic processing of money transfers, to improve the speed and accuracy of your payment transactions. We have provided a wealth of IBAN related information on our website. Please ensure that you visit www.hsbc.pk/iban to learn more about this.

The State Bank of Pakistan regulation is effective from 30 June 2013, whereby all banks in Pakistan are required to accept and process payment instructions with IBAN. Consequently, you will now be required to provide an IBAN for all instructions when making payments from or receiving payments to your account. Please ensure that the IBAN for your account is communicated to all parties from whom you are expecting a remittance to your account.

In case the IBAN is not used, the processing of both inward and outward payment in your account is likely to be delayed or may be rejected.

If you have standing orders for effecting payments from your account to beneficiary accounts held in banks within Pakistan other than HSBC, then you will need to amend the same, by providing the IBAN equivalent for the beneficiary account.

In order to generate your IBAN, please visit www.hsbc.pk/iban

Please note, all HSBC payment / instructions submission channels have been enhanced to accept IBAN.

For further information regarding IBAN, please review the IBAN Frequently Asked Questions. If you require further assistance, you may:

  1. Visit www.hsbc.pk/iban
  2. Personal Banking Customers: Contact our call centre on 0800-85202
  3. Business and Corporate Banking customers: Contact your Relationship Manager
  4. Visit your nearest HSBC branch
     
       
 

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