SWIFT Bank Identification Codes (BIC) for ACH Credit payments Customers with accounts in Bahrain currently provide CBID codes (HSBC specific bank codes) in the “Bank Code” entry field when creating ACH Credit payments. Effective from 19 June 2016, HSBCnet ACH Credit payment instruction screens will be enhanced to support the industry standard SWIFT Bank Identification Codes (BIC) for payments from accounts domiciled in Bahrain. After the effective date, HSBCnet ACH Credit screens will include a new drop down list in the “Beneficiary Bank Identifier” entry field where you can select either the Bank Code or the SWIFT BIC. Please note that the Bank Code (CBID) will be the default option in the field at this time. To input the SWIFT BIC for your payment, please select SWIFT BIC in the “Beneficiary Bank Identifier” field. You will now be able to provide the SWIFT BIC by manually entering the code in the text box or by searching for a valid SWIFT BIC using the search function. (Select image to enlarge) After 19 June 2016, when creating a payment instruction using general templates, you may change the “Beneficiary Bank Identifier” to SWIFT BIC to include a valid SWIFT BIC for the payment instruction. You will not be able to edit the “Beneficiary Bank Identifier” field in restricted templates. You will need to create a new restricted template to provide a valid SWIFT BIC for the payment instruction. The table below outlines the SWIFT BIC information for Payment Files uploaded via HSBCnet File Upload: File format Field where you can provide SWIFT BIC for ACH Credit payments XML v3 <CdtrAgt> <FinInstnId><BIC> XML v2 <CdtrAgt> <FinInstnId><CmbndId><BIC> iFile SECPTY- "@LVP@" -Field 36 (Beneficiary Bank ID/SWIFT Address) Please provide “SWF” in Field 35 - Bene Bank ID/SWIFT Address Code MEABASIC Column R (LCC code/CBID code) Please provide “SWF” in Column AL PAYMUL (CRG) Group 12 - FII+BF; Element - C088-3433 (Institution name identification) We encourage you to start providing the SWIFT BIC for ACH Credit payments on Bahrain accounts. We will eventually end support for CBID codes for ACH Credit payments. In order to ensure you have time to make any necessary changes on your end, you will receive notification prior to the removal of CBID codes from HSBCnet. For additional information on the SWIFT BIC option for Bahrain ACH Credit payments, please contact your local HSBCnet Support Centre or your HSBC representative.
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