UAE account holders: how to include Purpose of Payment codes in your cross-border payments and Inter-account Transfers

Please review the below for detailed information on how to include Purpose of Payment information in your payments from HSBC UAE debit accounts.

On-screen payments and transfers in HSBCnet

Select the appropriate code information in the Regulatory reporting field (highlighted below):

a) Outward domestic payments in AED currency to banks in the UAE

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b) Outward domestic payments in all currencies (except AED) to banks in the UAE

(Select image to enlarge)

c) Outward cross-border payments in all currencies

(Select image to enlarge)

Payments submitted via the File Upload service

Please refer to the details provided in the table below:

iFile

SECPTY -"@HVP@" - Field 65 Regulatory Reporting Line 1

Domestic payment in AED currency to banks in the UAE:

/BENEFRES/AE//Purpose Code

Domestic payment in all currencies to banks in the UAE (except AED):

/ORDERRES/AE//Purpose Code

Cross-border payment in all currencies:

/ORDERRES/AE//Purpose Code

MEABASIC

Column No – BD

/ORDERRES/AE//Purpose Code

- Purpose of Payment

XML v2.0

Regulatory Reporting

Domestic payment in AED currency to banks in the UAE:

<Inf>/BENEFRES/AE//Purpose Code

Domestic payment in all currencies to banks in the UAE (except AED):

<Inf>/ORDERRES/AE//Purpose Code

Cross-border payment in all currencies:

<Inf>/ORDERRES/AE//Purpose Code

<Inf>

XML v3.0

Regulatory Reporting

3 character Purpose of Payment code example COM

<Dtls>

<Cd>

Paymul

Group 15 - FTX+UAE Segment Number: 59 Element - C108-4440

Domestic payment in AED currency to banks in the UAE:

FTX+UAE+++/BENEFRES/AE//Purpose Code

Domestic payment in all currencies to banks in the UAE (except AED):

FTX+UAE+++/ORDERRES/AE//Purpose Code

Cross-border payment in all currencies:

FTX+UAE+++/ORDERRES/AE//Purpose Code

Element - C108-4440

Free text[1]

MT103

:77B: Regulatory Reporting

Domestic payment in AED currency to banks in the UAE:

:77B:/BENEFRES/AE//Purpose Code

Domestic payment in all currencies to banks in the UAE (except AED):

:77B:/ORDERRES/AE//Purpose Code

Cross-border payment in all currencies:

:77B:/ORDERRES/AE//Purpose Code

iDOC

Segment - E2IDT02

Domestic payment in AED currency to banks in the UAE:

/BENEFRES/AE//Purpose Code

Domestic payment in all currencies to banks in the UAE (except AED):

/ORDERRES/AE//Purpose Code Cross-border payment in all currencies:

/ORDERRES/AE//Purpose Code

TXT02