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For customers with accounts in Mexico: mandatory Purpose of Payment code requirement

Last updated: 23 November 2017

Starting now, we recommend that you include Purpose of Payment codes in Priority Payments/Customer Transfers from your accounts in Mexico.

Purpose of Payment codes are mandatory for the following types of payments:

Please note, local MXN currency (SPEI) payments in Mexico do not require a Purpose of Payment code.

Our recommendation is in support of local regulatory requirements by the Central Bank of Mexico, which applies to your payments submitted on-screen in HSBCnet or via the File Upload service.

From 31 March 2018, if you attempt to send a Priority Payment/Customer Transfer without a valid Purpose of Payment code, your payment will be rejected.

Find out more

For questions about Mexico’s Purpose of Payment code requirements, please contact your local HSBCnet Support Centre or HSBC representative.

 

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