Frequently Asked Questions (FAQ) 1. What changes can I and my Users expect? Once your HSBCnet profile has been updated, most Priority Payment screens will have additional mandatory fields available for Ordering Party name and address and in some countries, additional Ordering Financial Institution section. Templates previously stored under Priority Payment will continue to be available. A new section for Ordering Party information will be added to all retained General and Restricted templates. For payments from certain countries, HSBCnet will also provides the option on the new screen to confirm that you are the Ordering Party. This option will be provided for payments from US, UK, Hong Kong, Canada, Singapore, United Arab Emirates and Bangladesh. This feature will be added for more countries from next year and it will appear automatically once it is available without any action needed from you. For local payments from accounts in China, India, Mexico, Poland, Chile, Switzerland, Japan, Brazil, Turkey, UK Faster Payments, transactions and from Virtual Presence accounts, as well as for payments from accounts held with other institutions, HSBCnet provides specialised screens and these will not require the Ordering Party detail fields.   2. What information is required for the Ordering Party details? For Ordering Party details, please enter the following mandatory information: Ordering Party name Ordering Party address (including state & country) For Beneficiary details, please enter the following mandatory information: Beneficiary name It is recommended that you include the following details as they will become mandatory next year: Ordering Party account number Beneficiary account number Beneficiary address (including state and country) The Ordering Party you provide may vary depending on whether you are creating the payment on behalf of yourself, your entity or your customer. 3. At a high level what actions are required? Users responsible for creating transactions on HSBCnet need to be informed that Priority Payments will now require Ordering Party name, account number and address to be included when using the new screens.  For File Upload, please refer to the File Upload Requirements - December 2015 section below regarding the use of Instruction Level or File Level Authorisation files. Changes may be required to ensure that sufficient information is provided in your files. 4. Will there be any impact to User Entitlements? No. 5. Will there be any impact to Signature Limits? No. 6. What will happen to my current payment templates? Existing Priority Payment templates can continue to be used. However, the addition of Ordering Party information, or where available, the confirmation that you are the Ordering Party, will be required as mandatory. Existing General and Restricted templates will require an update to include the Ordering Party information before making payments in order to avoid rejections. For Restricted templates, this information can either be saved into the template or added to each new payment at the time of creation. 7. Can we save Restricted templates with our details when “I am the Ordering Party” ? Yes. For payments from US, UK, Hong Kong, Canada, Singapore, United Arab Emirates and Bangladesh, simply choose the option on the screen. For payments from all other countries, if you are the Ordering Party, enter your own name and address into the Restricted template and save it. Please do not input any invalid information in the Ordering Party fields. 8. What happens to Priority Payments that are Pending Authorisation? It is recommended that all payments are authorised by Friday 4th December by close of business and that none are left in Pending Authorisation status before this weekend’s update. In the event that this is not followed, the payment(s) will stay in pending status but may require repair to provide Ordering Party details for successful authorisation. 9. What happens to Forward Dated Priority Payments? If the transaction is on behalf of an Ordering Party which is not you, please cancel any forward dated Priority Payments and recreate them on Monday 7th December with the full and correct Ordering Party details on HSBCnet. 10. What happens to Priority Payments Standing Instructions? They will continue to exist on HSBCnet. If you have any cross-border Standing Instructions where there is an Ordering Party involved, please note that the instruction(s) should be cancelled and recreated from 7th December to provide the Ordering Party information correctly before the next settlement date. 11. What happens to Payment Summary and Account Services Activity Log history? The information in these services will not be impacted and you will be able to view the details as normal under Priority Payments. 12. Can Automated Clearing House (ACH) payments continue after the update? Yes, ACH payments can continue to be made following the update. File Upload Requirements - December 2015 File Upload for cross-border or domestic payments require Ordering Party details to be included for each instruction in the file(s) before uploading. If this information is not included, your payment may be rejected. Files containing local payments from China, India, Japan, Poland, Switzerland, Turkey, Mexico, Brazil, Chile or MT101 for 3rd party banks (non HSBC) do not require Ordering Party details, and that information will be disregarded if provided. All other payments submitted via the File Upload service must include the following: Ordering Party name; Ordering Party address. Other alternatives to the address could include the national identity number, or customer identification number, or date and place of birth; Where an appropriate field is available in the file format, the account number of the Ordering Party; Beneficiary name; and Beneficiary account number to be credited We use File Upload to create payments.  What file formats can we use? The following file formats are acceptable to make cross-border payments: (All ACH file formats can continue to be used) XML V3 XML V2 Paymul MT100 MT101 MT103 MT202 IFILE SAP iDoc Global Disbursement (CSV & XML) H4WMT100 The below formats support domestic High Value (HV), cross-border HV and Automated Clearing House (ACH) payments but do not allow population of Ordering Party details and therefore cannot be used to make cross-border payments. Israel Flat File (Israel) DTAUS(Germany) TXT (csv) (Russia) TXT (cbft) (Russia) PAP (Bermuda) We use Instruction Level Authorisation for our files, what do I need to know? Select here to view the Instruction Level Authorisation file reference table > Please ensure to include only SWIFT supported characters in your files. For more information regarding support characters please refer to the link above. If you have further questions, please contact the HSBCnet Helpdesk or Customer support team.
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 This communication is provided by HSBC Bank plc on behalf of the member of the HSBC Group that has contracted with your organisation for the provision of HSBCnet services. 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 2015. All rights reserved. Privacy & Data Protection Statement | Terms & Conditions