For customers with accounts in Mexico: beneficiary registration required for payments submitted via File Upload service

Last updated: 2 August 2018

You now have three new options to register beneficiaries and submit payments from your Mexican accounts using the File Upload service.

Why do I need to register beneficiaries for payments submitted via File Upload service?

Beneficiary registration is a regulatory requirement mandated by the National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores) in Mexico.

What do I need to do?

If you’re sending payments from Mexican accounts using the File Upload service, please register your beneficiaries as soon as possible.

The below table outlines the three new options that you can start using today to register beneficiaries and submit payments by File Upload:

Option	File type	Description	Additional information
A	Payments to Existing and New Beneficiaries	This option allows you to register new beneficiaries and submit payments in one file. When you upload this file: 1. any new beneficiaries will get registered; and 2. payments to new and previously registered beneficiaries will be processed.	If your file contains any unregistered beneficiaries, the entire file’s payments will be processed after 30 minutes. This is because it takes 30 minutes for new beneficiaries to get registered on HSBCnet. If your file contains only previously registered beneficiaries, the payments will be processed immediately.
B	Payments to Existing Beneficiaries only	This option is for payments to registered beneficiaries only.	Payments to previously registered beneficiaries will be processed. If your file contains any unregistered beneficiaries, their payment instructions will be rejected. After 30 minutes, they will be registered for future payments.
C	Beneficiary Registration (using payment file)	This option is for registering beneficiaries only. Use this option if you want to pre-register beneficiaries, but don’t want to make a payment at this time.	New beneficiaries will be registered after 30 minutes. If your file contains any payment instructions, they won’t be processed.
Important notes: You’re required to register each beneficiary one time. If you’re using multiple payment methods (both ACH and Priority Payment) to send funds to a beneficiary, you must register them for each payment type accordingly. If the details of a registered beneficiary changes, you must register them again with the updated information. You can register your beneficiaries today and submit payments to them any time in the future.

For detailed instructions on registering your beneficiaries on HSBCnet, select ‘Help’ in the File Upload service and review the Beneficiary Registration using payment files formats User Guide.

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Which payments require beneficiary registration?

Beneficiary registration is required for the following file/payment types from accounts in Mexico:

Type of payment	Authorisation Levels	File formats
Priority Payments • HSBC Third Party • Interbank (SPEI) • International Transfer	• File Level Summary (FLA) • File Level Details (FLA) • Instruction Level (ILA)	• MX Local Formats (TXT, CSV) • XML (Version2 & Version 3) • Swift (MT103) • Paymul
ACH Credits • HSBC Online Payroll • Payroll • Core Payment	• File Level Summary (FLA) • File Level Details (FLA) • Instruction Level (ILA)	• MX Local Formats (TXT, CSV) • XML (Version 2 & Version 3) • Paymul

Find out more

To learn more, review our Frequently Asked Questions. If you have any questions or need assistance regarding beneficiary registration for Mexico, please contact your local HSBCnet Support Centre.