Frequently Asked Questions (FAQ)
1. What changes can I and my Users expect?
Once your HSBCnet profile has been converted, Priority Payment screens will no longer be available and will be replaced with the Customer Transfer screen which will enable you to generate a priority payment but will have additional fields available: Ordering Party name and details and, in time, Ordering Institution.
Templates previously stored under Priority Payment will continue to be available as Customer Transfer templates. A new section for Ordering Party information will be added to all retained templates and two new payment forms will be available for entitlement:
- Customer Transfers – payments equivalent to SWIFT MT103. Customer Transfer is primarily for cross-border payments. These payments can be made on behalf of others (e.g. customers) as well as on your own account.
- Bank-to-Bank Transfers – payments between banks, equivalent to SWIFT MT202. This can be enabled if required, after discussion with your HSBC representative.
2. What payment Types are available after conversion?
- ACH Credit and Debit
- Bank to Bank Transfer Payments
- Bill Payment
- Customer Transfer Payments
- Direct Debit
- Eurozone Payments (SEPA Payments)
- Inter-Account Transfers
- UK Faster Payments
3. What payment types are NOT available after conversion?
Priority Payment (replaced with Customer Transfer).
4. Can Automated Clearing House (ACH) payments continue after the migration?
Yes. ACH payments can continue to be made following conversion. However, the US ACH Transfers capability which assists in making transfers to multiple accounts in HSBC US will be temporarily unavailable until the 6th December. This does not include normal NACHA processing which will continue.
5. Will there be any impact to User Entitlements?
No. Existing entitlements and Daily Authorisation limits will apply to the new Customer Transfer. However, it is recommended that System Administrators to compare the User set-up before and after the weekend to ensure no other services were affected and recreate previous User settings if required.
6. Will there be any impact to Signature Limits?
No. Customer Transfer signature limits at individual account level will be carried over as part of the conversion process. However, it is recommended that System Administrators to compare post conversion set up to ensure no other services were impacted during the migration and recreate pre-conversion User settings if required. The signature limits for other payment types will not be impacted.
7. What happens to Priority Payments that are Pending Authorisation?
Please ensure that all payments are authorised and that none are pending before the weekend. In the event that some remain, the payment(s) will continue to be available as Pending but now can be found under Customer Transfers and not Priority Payments.
In such a scenario, Ordering Party Details will now be mandatory and will send the payment to “Pending Repair” within the payment summary tool in HSBCnet. This will allow you to correctly input ordering party details and resubmit for approval.
8. What happens to Forward Dated Priority Payments?
HSBCnet will cancel all USD Priority Payment Standing Instructions that meet the following criteria:
- the next payment value date is equal to/later than 16 October, 2015
- the payment currency is USD, or
- the debit account currency is USD, or
- the beneficiary Bank location is the USA
All other non-USD transactions will remain be available as a Customer Transfer.
9. What will happen to my current payment templates?
All Priority Payment templates will be converted to Customer Transfer templates with the addition of Ordering Party information as mandatory fields. Existing ‘General and Restricted’ templates will require an update to the Ordering Party information section before making any payments in order to ensure the payment can be processed.
10. At a high level what actions are required?
Users responsible for creating transactions on HSBCnet need to be informed that Priority Payments will no longer be available. Transactions must ensure ordering party and meaningful beneficiary details such as name, account number and address are included when using the new Customer Transfer.
A. Ensure all current payments and entitlement changes are authorised before conversion and none are pending.
B. All cross-border files must include ordering party and address and meaningful beneficiary details such as name, account number, address.
C. Download the Admin report to capture all the existing entitlements with Priority Payments (optional).
11. What is the purpose of downloading an Admin report before the conversion?
The Administration Report provides a record of your User access levels before the conversion takes place. This will allow you to compare post conversion set-up to ensure no other services were impacted or re-create the previous User settings.
12. Where can I access instructions that can guide me on how to create Administration Reports and User Entitlements?
You can find support documents in the Help Text feature of the User Administration service. Alternatively, access the HSBCnet Help Centre located in the top right corner of your post logon page. Once open, use the search feature to locate the relevant support document.
Keyword Search: “ug_admin_reports” and “ug_sa_entitle”
13. What happens to Payment and Activity log History?
Activity log for payments will not be impacted and you will be able to view the details as normal. However since Priority Payments will be replaced with Customer Transfers, from the 11th October onwards, your transactions will be reported under Customer Transfers on Activity Log when a payment activity is carried out.
14. Can we use Restricted Templates with Customer Transfers?
Yes. However, the entitlement restriction to ‘Authorise payments created from Restricted Templates Only’ is not available for Customer Transfers.
15. What happens to Priority Payments Standing Instructions?
HSBCnet will cancel all USD Priority Payment Standing Instructions that meet the following criteria:
- the next payment value date is equal to/later than 16 October, 2015
- the payment currency is USD, or
- the debit account currency is USD, or
- the beneficiary Bank location is the USA
All other non-USD transactions will remain be available as a Customer Transfer.
If you have Forward Dated Priority Payments in the attached listed countries you should reject them as these customised screens will not be available after 15 October 2015. These specialised local payment types will be available again from early December 2015:
Brazil (TED)
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Mexico (STD and SPEI Banxico) |
Chile (Online Payment) |
Poland (Tax and ZUS payments) |
China |
South Africa |
Czech Republic |
South Korea |
India (Cashier Order, Demand Draft, RTGS, NEFT) |
Switzerland |
Israel ( MT101, foreign currency cross-border and foreign currency domestic payments, RTGS |
Thailand (need to choose payment type: RTGS or Cashier's Order instead) |
Japan Zengin |
Turkey (standard payment) |
If you are unable to find the new location fo you Standing Instructions, contact the HSBCnet Help Desk for assistance.
16. What happens to Priority Payments that are Pending Authorisation?
Ensure that all Priority Payments are authorised. Any Payments pending authorization before conversion will be sent back to Pending Repair in order for you to correctly capture the Ordering Party name and details.
17. What happens to Forward Dated Priority Payments?
They will continue to exist on HSBCnet but can be found under Customer Transfers and not Priority Payments. However, if you have Forward Dated Country Domestic Priority Payment in the above listed countries you should reject them and re-enter them from Monday 12th October so that the full Ordering party details can be included.
18. I see that I now have new access to Bank to Bank transfers (MT202) when I set up my accounts and users for this payment type. Are they available in all countries?
Please contact your helpdesk or HSBC representative if you wish to use Bank to Bank Transfers.
19. How do I get a report to view existing entitlements?
Use the guide for instructions available here
File Upload Requirements Post Migration
File Upload need to include the ordering customer name & address (including state & country) and Beneficiary Name which are mandatory.
It is recommended that you include details such as ordering party account number,beneficiary account number and beneficiary address (including state and country) in any file you upload for cross-border purposes.
Which file formats can we use?
The following files formats are acceptable to make cross-border payments: (ACH file formats can continue to be used)
- XML V3
- XML V2
- Paymul
- MT100
- MT101
- MT103
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- MT202
- IFILE
- SAP iDoc
- Global Disbursement (CSV & XML)
- H4WMT100
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After the conversion, you will need to ensure that the Ordering Party details (name and address) are included within the payments instructions in these file formats otherwise it may be rejected
Please note that Instruction Level Authorisation Files will now map across to the Customer Transfer Screen.
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 either to make cross-border payments or with File Upload - Instruction Level Authorisation.
- MEABASIC (Middle East)
- MEDMHVCI (Middle East)
- Israel Flat File (Israel)
- TXT (csv) (Russia)
- TXT (cbft) (Russia)
- PAP (Bermuda)
What if I need help on File Upload and File formats?
Please contact your HSBC representative for assistance.
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