Important update for customers with accounts in Saudi Arabia: regulatory requirement for WPS paymentsLast updated: 24 August 2017 In compliance with local regulatory requirements in Saudi Arabia for Wages Protection System (WPS) transactions, your Salary/Payroll payments (WPS ACH Credit - type S and B) submitted via HSBCnet’s on-screen and File Upload services must contain a Net Salary value which equals the sum of Basic Salary, Housing Allowance and Other Allowance minus Deductions. Type S and Type B WPS payments that do not meet the above requirement will be rejected as of 10 September 2017. Customers submitting WPS payments via File Upload
Customers submitting WPS payments on HSBCnet screens Find out more
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