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Customers with HSBC accounts in China with CNY domestic Payments and Collection: possible changes to ERP/automated account reconciliation systems required

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Dear HSBCnet User,

On the weekend of 10/11 January 2015, we will be introducing enhanced bank statements for CNY domestic payment and collection transactions on HSBC accounts in China. This enhancement will streamline and standardise the CNY domestic payment and collection statement information for easier reconciliation on your side.

Please note: the change is limited to CNY domestic payment and collection transactions. There are no changes on bank statements for foreign currency payment and collection, CNY cross border payment and collection and other transaction like bank interest.

Action required
As a result of this change, your internal ERP systems or automated account reconciliation programs may be impacted. To ensure the on-going operation of your automated reconciliation processes as of 12 January 2015, we recommend you review your internal systems and, if required, update them with the new settings after reviewing the details below.

Enhancement details
This enhancement will standardise the CNY domestic payment and collection related transaction information on HSBCnet Account Information (AI) service, Balance and Transaction Reporting (BTR) service and bank statements reports (e.g. MT940),   as well as the bank statements reports (in formats like SWIFT MT940/MT942, XML ISO20022, BAI2 etc.) sent via HSBC Connect or SWIFTNet. The table below outlines the changes of key information in MT940 via some samples.

Current	Effective 12 January 2015
HSBCnet MT940 Sample (Report ID in HSBCnet: MTG1A or MTG1C)
CNY Inward Collection :61:1409020902C624,12NTRFNONREF //NONREF :86:付款方名称付款方名称付 付款明明细付款明明细付 0000000001 款明明细付款明明细付款 Limitations: The Ordering Party (Payor) name and Remittance Information are truncated to 11 Chinese characters. No indicator before Ordering Party or Remittance Information or VA information No Bank Reference	CNY Inward Collection :61:1409020902C624,12NTRFNONREF //NONREF :86:/OR/LP4140902YLP70000006 /ORDP/付款方名称付款方名称付款方 名称付款方名称付款方名称付款方名 /REMI/付款明明细付款明明细付款明 明细付款明明细付款明明细付款明明 /VA/0000000001 Field Descriptions: /OR/  – Bank Reference /ORDP/ – Name of Ordering Party, can support max 29 (13+16) Chinese characters /REMI/ – Remittance Information (Narrative), can support max 29 (13+16) Chinese characters /VA/ - Virtual Account (if this transaction is a collection on Virtual Account)
CNY Priority Payment* :61: 1403030303D9,00NTRFCUSTREF0001 //NONREF :86:CUSTREF0001 收款方名称收款方名称收 付款明明细付款明明细付 Limitations: The Beneficiary Name and Remittance Information are truncated to 11 Chinese characters. No indicator before Beneficiary or Remittance Information No Bank Reference and Beneficiary Bank Account	CNY Priority Payment* :61:1403030303D9,00NTRFCUSTREF0001 //3764438307060001 :86:/OR/140303YLP17026351 /AC/1234567890 /BENM/收款方名称收款方名称收款方　　　 名称收款方名称收款方名称收款方名 /REMI/付款明明细付款明明细付款明 明细付款明明细付款明明细付款明明 Field Descriptions: CUSTREF0001 – Customer Reference, NONREF if no Customer Reference 3764438307060001 – Channel Reference provided by bank, NOTPROVIDED if no Channel Reference /OR/  – Bank Reference /AC/  – Beneficiary Bank Account /BENM/  – Beneficiary Name, can support max 29 (13+16) Chinese characters /REMI/  –Remittance Information (Narrative), can support max 29 (13+16) Chinese characters
Bank Charge for CNY Priority Payment :61:1403030303D5,50NCHGNONREF :86: TOTAL CHARGE CUSTREF0001 收款方名称收款方名称收　　　 Limitations: The Beneficiary Name is truncated to 11 Chinese characters. No indicator before Beneficiary Name No Bank Reference and Beneficiary Bank Account	Bank Charge for CNY Priority Payment :61:1403030303D5,50NCHGCUSTREF 0001     //3764438307060001 :86:/OR/140303YLP17026351 /AC/1234567890 PAYMENT CHARGES /BENM/收款方名称收款方名称收款方　　　 名称收款方名称收款方名称收款方名 Field Descriptions: CUSTREF0001 – Customer Reference of original payment transaction, NONREF if no Customer Reference 3764438307060001 – Channel Reference provided by bank, NOTPROVIDED if no Channel Reference /OR/  – Bank Reference /AC/  – Beneficiary Bank Account PAYMENT CHARGES – hard coded narrative for CNY PP charge /BENM/  – Beneficiary Name, can support max 29 (13+16) Chinese characters
Bank Charge for CNY ACH Payment :61:1403030303D2,40NCHGNONREF :86:TOTAL CHARGE Limitations: No Customer Reference and Bank Reference	Bank Charge for CNY ACH Payment :61:1403030303D2,40NCHGCUSTREF 0001     //2625153196060001 :86:/OR/140303PO130024653 AUTOPAY OUT CHARGES Field Descriptions: CUSTREF0001 – Customer Reference of original payment transaction, NONREF if no Customer Reference 2625153196060001 – Channel Reference provided by bank, NOTPROVIDED if no Channel Reference /OR/  – Bank Reference AUTOPAY OUT CHARGES – hard coded narrative for CNY ACH charge

Current	Effective 12 January 2015
HSBC Connect and SWIFTNet MT940 Sample
CNY Inward Collection :61:1409020902CY624,12FTRFNONREF :86:付款方名称付款方名称付 付款明明细付款明明细付 0000000001 款明明细付款明明细付款 Limitations: The Ordering Party (Payor) name and Remittance Information are truncated to 11 Chinese characters. No indicator before Ordering Party or Remittance Information or VA information No Bank Reference	CNY Inward Collection :61:1409020902CY624,12FTRFNONREF :86:/OR/LP4140902YLP70000006 /ORDP/付款方名称付款方名称付款方 名称付款方名称付款方名称付款方名 /REMI/付款明明细付款明明细付款明 明细付款明明细付款明明细付款明明 /VA/0000000001 Field Descriptions: /OR/  – Bank Reference /ORDP/ – Name of Ordering Party, can support max 29 (13+16) Chinese characters /REMI/ – Remittance Information (Narrative), can support max 29 (13+16) Chinese characters /VA/ - Virtual Account (if this transaction is a collection on Virtual Account)
CNY Priority Payment* :61:1403030303DY9,00FTRFCUSTREF0001 :86: 收款方名称收款方名称收 付款明明细付款明明细付 款明明细付款明明细付款 Limitations: The Beneficiary Name is truncated to 11 Chinese characters. No indicator before Beneficiary or Remittance Information No Bank Reference and Beneficiary Bank Account	CNY Priority Payment* :61:1403030303DY9,00FTRFCUSTREF 0001//3764438307060001 :86:/OR/140303YLP17026351 /AC/1234567890 /BENM/收款方名称收款方名称收款方　　　 名称收款方名称收款方名称收款方名 /REMI/付款明明细付款明明细付款明 明细付款明明细付款明明细付款明明 Field Descriptions: CUSTREF0001 – Customer Reference, NONREF if no Customer Reference 3764438307060001 – Channel Reference provided by bank, NOTPROVIDED if no Channel Reference /OR/  –Bank Reference /AC/  – Beneficiary Bank Account /BENM/  – Beneficiary Name, can support max 29 (13+16) Chinese characters /REMI/  – Remittance Information (Narrative), can support max 29 (13+16) Chinese characters
Bank Charge for CNY Priority Payment :61:1403030303DY5,50FCHGNONREF :86: TOTAL CHARGE CUSTREF0001 收款方名称收款方名称收　　　 Limitations: The Beneficiary Name is truncated to 11 Chinese characters. No indicator before Beneficiary Name No Bank Reference and Beneficiary Bank Account	Bank Charge for CNY Priority Payment :61:1403030303DY5,50FCHGCUSTREF 0001//3764438307060001 :86:/OR/140303YLP17026351 /AC/1234567890 PAYMENT CHARGES /BENM/收款方名称收款方名称收款方　　　 名称收款方名称收款方名称收款方名 Field Descriptions: CUSTREF0001 – Customer Reference of original payment transaction, NONREF if no Customer Reference 3764438307060001 – Channel Reference provided by bank, NOTPROVIDED if no Channel Reference /OR/  – Bank Reference /AC/  – Beneficiary Bank Account PAYMENT CHARGES – hard coded narrative for CNY PP bank charge /BENM/  – Beneficiary Name, can support max 29 (13+16) Chinese characters
Bank Charge for CNY ACH Payment :61:1403030303DY2,40FCHGNONREF :86:TOTAL CHARGE Limitations: No Customer Reference and Bank Reference	Bank Charge for CNY ACH Payment :61:1403030303DY2,40FCHGCUSTREF 0001//2625153196060001 :86:/OR/140303PO130024653 AUTOPAY OUT CHARGES Field Descriptions: CUSTREF0001 – Customer Reference of original payment transaction, NONREF if no Customer Reference 2625153196060001 – Channel Reference provided by bank, NOTPROVIDED if no Channel Reference /OR/  – Bank Reference AUTOPAY OUT CHARGES – hard coded narrative for CNY ACH bank charge

Current	Effective 12 January 2015
HSBC Global Information Reporting MT940 Sample (Report ID in HSBCnet: MT940EOD or MT940EOD-A)
CNY Inward Collection from CNAPS :61:1409020902CY624,12NTRFNONREF //NONREF 付款方名称付款方名称付 :86:付款方名称付款方名称付 付款明明细付款明明细付 0000000001 款明明细付款明明细付款 Limitations: The Ordering Party (Payor) name and Remittance Information are truncated to 11 Chinese characters. No indicator before Ordering Party or Remittance Information or VA information No Bank Reference	CNY Inward Collection from CNAPS :61:1409020902CY624,12NTRFNONREF //NONREF LP4140902YLP70000006 :86:/OR/LP4140902YLP70000006 /ORDP/付款方名称付款方名称付款方 名称付款方名称付款方名称付款方名 /REMI/付款明明细付款明明细付款明 明细付款明明细付款明明细付款明明 /VA/0000000001 Field Descriptions: /OR/  – Bank Reference /ORDP/ – Name of Ordering Party, can support max 29 (13+16) Chinese characters /REMI/ – Remittance Information (Narrative), can support max 29 (13+16) Chinese characters /VA/ - Virtual Account (if this transaction is a collection on Virtual Account)
CNY Priority Payment* :61: 1403030303DY9,00NTRFCUSTREF0001 //NONREF CUSTREF0001 :86: CUSTREF0001 收款方名称收款方名称收 付款明明细付款明明细付 Limitations: The Beneficiary Name and Remittance Information are truncated to 11 Chinese characters. No indicator before Beneficiary or Remittance Information No Bank Reference and Beneficiary Bank Account	CNY Priority Payment* :61:1403030303DY9,00NTRFCUSTREF 0001//3764438307060001 140303YLP17026351 :86:/OR/140303YLP17026351 /AC/1234567890 /BENM/收款方名称收款方名称收款方　　　 名称收款方名称收款方名称收款方名 /REMI/付款明明细付款明明细付款明 明细付款明明细付款明明细付款明明 Field Descriptions: CUSTREF0001 – Customer Reference, NONREF if no Customer Reference 3764438307060001 – Channel Reference provided by bank, NOTPROVIDED if no Channel Reference /OR/  – Bank Reference /AC/  – Beneficiary Bank Account /BENM/  – Beneficiary Name, can support max 29 (13+16) Chinese characters /REMI/  – Remittance Information (Narrative), can support max 29 (13+16) Chinese characters
Bank Charge for CNY Priority Payment :61:1403030303DY5,50NCHGNONREF //NONREF TOTAL CHARGE :86: TOTAL CHARGE 收款方名称收款方名称收　　　 付款明明细付款明明细付 Limitations: The Beneficiary Name is truncated to 11 Chinese characters. No indicator before Beneficiary Name No Bank Reference and Beneficiary Bank Account	Bank Charge for CNY Priority Payment :61:1403030303DY5,50NCHGCUSTREF 0001//3764438307060001 140303YLP17026351 :86:/OR/140303YLP17026351 /AC/1234567890 PAYMENT CHARGES /BENM/收款方名称收款方名称收款方　　　 名称收款方名称收款方名称收款方名 Field Descriptions: CUSTREF0001 – Customer Reference of original payment transaction, NONREF if no Customer Reference 3764438307060001 – Channel Reference provided by bank, NOTPROVIDED if no Channel Reference /OR/  – Bank Reference /AC/  – Beneficiary Bank Account PAYMENT CHARGES – hard coded narrative for CNY PP charge /BENM/  – Beneficiary Name, can support max 29 (13+16) Chinese characters
Bank Charge for CNY ACH Payment :61:1403030303DY2,40NCHGNONREF //NONREF TOTAL CHARGE :86:TOTAL CHARGE Limitations: No Customer Reference and Bank Reference	Bank Charge for CNY ACH Payment :61:1403030303DY2,40NCHGCUSTREF 0001//2625153196060001 140303PO130024653 :86:/OR/140303PO130024653 AUTOPAY OUT CHARGES Field Descriptions: CUSTREF0001 – Customer Reference of original payment transaction, NONREF if no Customer Reference 2625153196060001 – Channel Reference provided by bank, NOTPROVIDED if no Channel Reference /OR/  – Bank Reference AUTOPAY OUT CHARGES – hard coded narrative for CNY ACH charge

*Only CNY Priority Payment statement has change. Statements of other domestic CNY transaction like ACH Credit Payment, Cheque Outsourcing, return payment etc and 3rd Party account statement do not change.

If you have any questions, please contact your local Customer Service or HSBCnet Support Team.

Sincerely, 

Your HSBCnet team

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