FAQ for customers with Lithuanian currency accounts and payment templates regarding the conversion to Euro as legal tender

Frequently Asked Questions for customers with Lithuanian currency accounts and payment templates regarding the conversion to Euro as legal tender

What is happening to Lithuanian currency and when?
Lithuania will introduce the Euro (EUR) as legal tender as of 1 January, 2015. The Lithuanian Litas (LTL) will expire and no longer be accepted as legal tender from 15 January 2015. The Bank of Latvia will exchange the last banknotes and coins by Euro Banknotes and coins for an indefinite period of time. Important: HSBCnet will cease LTL currency and account support from 1 January, 2015 in conjunction with the introduction of EUR as legal tender in Lithunaia.

What will happen to my current Lithuanian currency accounts?
Effective 1 January, 2015, HSBCnet will no longer support Lithuanian currency accounts. However, your LTL accounts will not be automatically transferred to new or existing EUR accounts. If you still have active LTL accounts you are required to take the following actions as deemed appropriate for your situation:

Open a new EUR account and close your current LTL account;

Simply close your LTL account if an existing EUR account is available for future use or if a replacement account is not required.

A fixed exchange rate of EUR 1 = LTL 3.45280 has been established to facilitate settling any outstanding credits or debits. Before closing your LTL account:

LTL accounts with a credit balance: please transfer the credit to an existing EUR account using the above fixed exchange rate;

LTL accounts with outstanding debit balance: please repay the outstanding balance using the above fixed exchange rate;

For LTL accounts zero balance: no further action is required before closing.

What will happen to payment templates referencing Lithuanian currency accounts, or payment currency as LTL?
You are required to open a new EUR account or designate an existing account as a replacement to your current LTL account which must be closed. As the account number for your new or existing EUR account will be different from your current LTL account the templates on your LTL account will not be available. They will not be automatically converted or reproduced so you will need to modify these templates to use your new or existing EUR accounts prior to 1 January, 2015. If payment templates where the debit account is an LTL account are not modified prior to 1 January, 2015, they will be deleted upon the effective date.

What will happen to my pending payment transactions, forward-dated payments, standing instructions that have been initiated with the Lithuanian currency?
The same requirements apply as above. Pending, forward-dated payments and standing instructions using LTL currency or debiting an LTL account will need to be modified prior to 1 January, 2015. Those debiting an LTL currency account specifically will be deleted as of 1 January, 2015.

Important note: all LTL currency payments authorised and/or value-dated on or after 1 January 2015 will be rejected by the system. To process any remaining LTL currency transactions, make sure all pending payment transactions are authorised prior to the end of business on 31 December 2014. To avoid rejected forward-dated payments or standing instructions that reference LTL currency and are value-dated on or after 1 January, you will need to modify your templates to reference the new EUR currency prior to 1 January.

What will happen if I try to modify or create a General and Restricted payment template after 1 January, 2015?

For General Templates
When modifying an existing General template or creating payment instructions as of 1 January, 2015:

If an LTL account is pre-selected in the template, then the payment template will be automatically deleted as of 1 January, 2015 and it will not be available for creating payment instructions.

If LTL currency is pre-selected in the template, the LTL currency will be removed and the system will default to the first currency on the list (for example, this could be “AED”).

If the payment amount was pre-defined in the template, then the payment amount will remain unchanged

For Restricted Templates
When modifying an existing Restricted template as of 1 January, 2015:

If an LTL account is pre-selected in the template, then the payment template will be automatically deleted as of 1 January, 2015 and it will not be available for creating payment instructions.

If LTL currency is pre-selected in the template, the LTL currency will be removed and the system will default to the first currency on the list (for example, this could be “AED”).

If the payment amount was pre-defined in the template, then the payment amount will remain unchanged.

When creating payments instructions for an existing Restricted template as of 1 January, 2015:

If an LTL account is pre-selected in the template, then the payment template will be automatically deleted as of 1 January, 2015 and it will not be available for creating payment instructions.

If LTL currency is pre-selected in the template, the LTL currency will continue to be displayed in read-only format (i.e. not editable and greyed out). However, while it is possible to ‘submit’ an LTL currency payment in this case past 1 January, 2015 the payment will be rejected.

If the payment amount was pre-defined in the template, then the payment amount will remain unchanged.

Will I be able to view the historical data on my Lithuanian currency accounts after 1 January, 2015?
If you close your LTL account(s) and delete it/them from HSBCnet the history for these closed and deleted accounts will be removed from HSBCnet as of 1 January. However, if you only close your LTL account (and do not delete it from HSBCnet) the system will retain your account history for the closed LTL account for 180 days.

What about LTL third party bank accounts?
There are three banks set up under third party agreements with HSBCnet using the LTL currency. Accounts at other institutions that operate under LTL currency will be unsupported once LTL currency is expired. There may be separate settlement or closing procedures for the third party accounts you hold elsewhere and you will need to contact those banks to ensure you meet their requirements. However, LTL third party accounts will be supported through HSBCnet until 1 January when we will no longer support the LTL currency.

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	Frequently Asked Questions for customers with Lithuanian currency accounts and payment templates regarding the conversion to Euro as legal tender What is happening to Lithuanian currency and when? Lithuania will introduce the Euro (EUR) as legal tender as of 1 January, 2015. The Lithuanian Litas (LTL) will expire and no longer be accepted as legal tender from 15 January 2015. The Bank of Latvia will exchange the last banknotes and coins by Euro Banknotes and coins for an indefinite period of time. Important: HSBCnet will cease LTL currency and account support from 1 January, 2015 in conjunction with the introduction of EUR as legal tender in Lithunaia. What will happen to my current Lithuanian currency accounts? Effective 1 January, 2015, HSBCnet will no longer support Lithuanian currency accounts. However, your LTL accounts will not be automatically transferred to new or existing EUR accounts. If you still have active LTL accounts you are required to take the following actions as deemed appropriate for your situation: Open a new EUR account and close your current LTL account; Simply close your LTL account if an existing EUR account is available for future use or if a replacement account is not required. A fixed exchange rate of EUR 1 = LTL 3.45280 has been established to facilitate settling any outstanding credits or debits. Before closing your LTL account: LTL accounts with a credit balance: please transfer the credit to an existing EUR account using the above fixed exchange rate; LTL accounts with outstanding debit balance: please repay the outstanding balance using the above fixed exchange rate; For LTL accounts zero balance: no further action is required before closing. What will happen to payment templates referencing Lithuanian currency accounts, or payment currency as LTL? You are required to open a new EUR account or designate an existing account as a replacement to your current LTL account which must be closed. As the account number for your new or existing EUR account will be different from your current LTL account the templates on your LTL account will not be available. They will not be automatically converted or reproduced so you will need to modify these templates to use your new or existing EUR accounts prior to 1 January, 2015. If payment templates where the debit account is an LTL account are not modified prior to 1 January, 2015, they will be deleted upon the effective date. What will happen to my pending payment transactions, forward-dated payments, standing instructions that have been initiated with the Lithuanian currency? The same requirements apply as above. Pending, forward-dated payments and standing instructions using LTL currency or debiting an LTL account will need to be modified prior to 1 January, 2015. Those debiting an LTL currency account specifically will be deleted as of 1 January, 2015. Important note: all LTL currency payments authorised and/or value-dated on or after 1 January 2015 will be rejected by the system. To process any remaining LTL currency transactions, make sure all pending payment transactions are authorised prior to the end of business on 31 December 2014. To avoid rejected forward-dated payments or standing instructions that reference LTL currency and are value-dated on or after 1 January, you will need to modify your templates to reference the new EUR currency prior to 1 January. What will happen if I try to modify or create a General and Restricted payment template after 1 January, 2015? *For General Templates* When modifying an existing General template or creating payment instructions as of 1 January, 2015: If an LTL account is pre-selected in the template, then the payment template will be automatically deleted as of 1 January, 2015 and it will not be available for creating payment instructions. If LTL currency is pre-selected in the template, the LTL currency will be removed and the system will default to the first currency on the list (for example, this could be “AED”). If the payment amount was pre-defined in the template, then the payment amount will remain unchanged *For Restricted Templates* When modifying an existing Restricted template as of 1 January, 2015: If an LTL account is pre-selected in the template, then the payment template will be automatically deleted as of 1 January, 2015 and it will not be available for creating payment instructions. If LTL currency is pre-selected in the template, the LTL currency will be removed and the system will default to the first currency on the list (for example, this could be “AED”). If the payment amount was pre-defined in the template, then the payment amount will remain unchanged. When creating payments instructions for an existing Restricted template as of 1 January, 2015: If an LTL account is pre-selected in the template, then the payment template will be automatically deleted as of 1 January, 2015 and it will not be available for creating payment instructions. If LTL currency is pre-selected in the template, the LTL currency will continue to be displayed in read-only format (i.e. not editable and greyed out). However, while it is possible to ‘submit’ an LTL currency payment in this case past 1 January, 2015 the payment will be rejected. If the payment amount was pre-defined in the template, then the payment amount will remain unchanged. Will I be able to view the historical data on my Lithuanian currency accounts after 1 January, 2015? If you close your LTL account(s) and delete it/them from HSBCnet the history for these closed and deleted accounts will be removed from HSBCnet as of 1 January. However, if you only close your LTL account (and do not delete it from HSBCnet) the system will retain your account history for the closed LTL account for 180 days. What about LTL third party bank accounts? There are three banks set up under third party agreements with HSBCnet using the LTL currency. Accounts at other institutions that operate under LTL currency will be unsupported once LTL currency is expired. There may be separate settlement or closing procedures for the third party accounts you hold elsewhere and you will need to contact those banks to ensure you meet their requirements. However, LTL third party accounts will be supported through HSBCnet until 1 January when we will no longer support the LTL currency.



Please do not reply to this e-mail. The postal address for related inquiries is: HSBC - E-Channels 8 Canada Square London UK E14 5HQ You received this e-mail notification because you are a registered User of HSBCnet. Should you have any concerns regarding the validity of this message, please contact your local HSBCnet customer support. We maintain strict security standards and procedures to prevent unauthorised access to information about you. HSBC will never contact you by e-mail or otherwise ask you to validate personal information, such as your Username, Password or account numbers. If you receive such a request, please call your local HSBCnet customer support. Links within our e-mails will only take you to information pages. If you wish to unsubscribe from receiving service information from HSBCnet, please click here. © Copyright. HSBC Bank plc 2014. All rights reserved. Privacy & Data Protection Statement \| Terms & Conditions