Customers with accounts in the UAE: mandatory new Purpose of Payment codes
Please review the below for detailed information on how to include Purpose of Payment information in your payments from UAE debit accounts.
1. ACH Credit:
Select a code using the dropdown menu in the Purpose of Payment field when making on-screen ACH Credit payments in HSBCnet.
2. Priority Payments or Customer Transfers:
Select the appropriate code information in the Regulatory reporting field (highlighted below) when making on-screen payments in HSBCnet:
(click image to enlarge)
3. Payments submitted using the File Upload service:
| Purpose of Payment |
|---|
Effective 10 September, the Purpose of payment field will be mandatory for all ACH Credit and domestic Priority Payments. Please make sure that you include a valid purpose code in your payment files by this date. |
ACH Credit - various file formats
If you are submitting ACH payment files using the File Upload service, please refer to the field details provided in the table below:
| ACH Credit Payment | |
|---|---|
iFile |
|
SECPTY -"@LVP@" - Field 65 Regulatory Reporting Line 1 |
3 character Purpose of Payment code example COM |
MEABASIC |
|
Column No – AK |
3 character Purpose of Payment code example COM |
- Purpose of Payment |
|
XML v2.0 |
|
Regulatory Reporting |
3 character Purpose of Payment code example COM |
<RgltryRptg> |
|
|
<RgltryDtls> |
|
|
<Inf> |
|
XML v3.0 |
|
Regulatory Reporting |
3 character Purpose of Payment code example COM |
<RgltryRptg> |
|
|
<Dtls> |
|
|
<Cd> |
|
Paymul |
|
Group 15 - FTX+ABY |
3 character Purpose of Payment code example COM |
Element - C108-4440 |
|
Free text[1] |
|
Priority Payment - various file formats
If you are submitting Priority Payment files using the File Upload service, please refer to the field details provided in the table below:
| Priority Payment | |
|---|---|
iFile |
|
SECPTY -"@HVP@" - Field 65 Regulatory Reporting Line 1 |
/BENEFRES/AE//Purpose Code |
MEABASIC |
|
Column No – BD |
/BENEFRES/AE//Purpose Code |
- Purpose of Payment |
|
XML v2.0 |
|
Regulatory Reporting |
<Inf>/BENEFRES/AE//Purpose Code |
<RgltryRptg> |
|
|
<RgltryDtls> |
|
|
<Inf> |
|
XML v3.0 |
|
Regulatory Reporting |
3 character Purpose of Payment code example COM |
<RgltryRptg> |
|
|
<Dtls> |
|
|
<Cd> |
|
Paymul |
|
Group 15 - FTX+UAE Segment Number: 59 |
FTX+UAE+++/BENEFRES/AE//Purpose Code |
Element - C108-4440 |
|
Free text[1] |
|
MT103 |
|
:77B: Regulatory Reporting |
:77B:/BENEFRES/AE//Purpose Code |
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 email 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 email 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 emails 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 2017. All rights reserved.