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Customers with accounts in Saudi Arabia: mandatory requirement for Purpose of Payment codes

العرب

Last updated: 20 April 2017

Aligned with local regulations, effective 9 July 2017, a valid Payment Purpose code will be mandatory for all domestic payments in Saudi Arabia.  

As part of this requirement, if a valid Payment Purpose code is not provided in the appropriate field, your transaction(s) will be rejected as of 9 July.

Domestic payments that require the inclusion of Purpose of Payment codes are:

• Priority Payments
• Inter-account Transfers
• Customer Transfers

Select here to view the full list Purpose of Payment codes for Saudi Arabia >

Payments submitted on-screen
As of 9 July, HSBCnet payment/template screens will be updated with the mandatory fields. Select the Add Payment Purpose code button in the Regulatory reporting section and choose the appropriate code for your payment in Saudi Arabia.

Please note, we recommend you to start updating your existing payment templates with Payment Purpose codes starting 9 July.

(Select image to enlarge)

Payments submitted via File Upload service
The mandatory Payment Purpose code will be mapped into tag 77B of MT103/MT101 of your Payment Files.

The following table provides information on impacted file formats and required input fields for payments in Saudi Arabia effective 9 July:

File Format	Input field
PAYMUL	FTX+ABY
XML ISO20022 (v2)	<RgltryRptg><RgltryDtls><Inf>
XML ISO20022 (v3)	<RgltryRptg><Dtls><Inf>
MT103	:77B:
iFile	SECPTY(65)
iDOC	Consult the bank if you use this format.
Payment purpose code must be populated in the following format: /BENEFRES/Payment Country Code*//Purpose of Payment Code  Example: . /BENEFRES/FR//OVT * Payment Country Code must be a 2 digit alpha character ISO Standard Country Code

For an updated Message Implementation Guide (MIG) for your files, please contact your Client Services representative.

For questions about Payment Purpose code requirements for Saudi Arabia, please contact your local HSBCnet Support Centre or your SABB representative.

 

File Format	Input field
PAYMUL	FTX+ABY
XML ISO20022 (v2)	<RgltryRptg><RgltryDtls><Inf>
XML ISO20022 (v3)	<RgltryRptg><Dtls><Inf>
MT103	:77B:
iFile	SECPTY(65)
iDOC	Consult the bank if you use this format.
Payment purpose code must be populated in the following format: /BENEFRES/Payment Country Code*//Purpose of Payment Code  Example: . /BENEFRES/FR//OVT * Payment Country Code must be a 2 digit alpha character ISO Standard Country Code

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