Singapore accounts: enhanced statement narratives in 2020

In January 2020, we’re upgrading our systems to provide you with more transparent foreign exchange (FX) information for transactions from your Singapore accounts.

What this means for you:

If you use ERP systems or automated account reconciliation programs for your electronic statements, you may be impacted. To ensure the ongoing operation of your automated reconciliation processes, we recommend that you review your internal systems and, if required, update them by 31 December 2019.

This change affects statement entries for both incoming and outgoing FX transactions in the following file formats: HSBCnet Account Information Excel exports, and Reports and Files Download BAI2 End of Day, MT940, and CSV formatted reports.

Please note: The examples below are for the purposes of demonstrating the changes and they may not exactly match your statement entries. The below examples are subject to change and we will update you if there are further changes.

For Singapore Dollar (SGD) and foreign currency accounts in Singapore:

Priority Payment (debits)– End of day (MT 940)
Change description	FX Transparency fields (FX Booking timestamp and Mid-market rate) have been added within tag 86. Timestamp has been prefixed with ‘TMS’ and Mid-market rate has been prefixed with ‘MID’ based on permissible space.
Current Transaction Reference Type Code	NTRF
Current Customer Reference	REMI4
Current Bank Reference	SGH0*******TV04VWG
Current Customer Statement Narrative (Tag 86)	20 XXXXXXS NXNO MXXXXXXLS LTD 411651C01QP5 375655100000143 FX USD 12425.00 AT 1.3475058 0314853930
New Customer Statement Narrative (Tag 86)	20 XXXXXXS NXNO MXXXXXXLS LTD 411651C01QP5 375655100000143 FX USD 12425.00 AT 1.3475058 0314853930 /TMS/2018-12-11T10 21 23 GMT/MID/1.337807

Priority Payment (credits)– End of day / Intra-day statement (MT 940)
Change description	FX Transparency fields (FX Booking timestamp and Mid-market rate) have been added within tag 86. Timestamp has been prefixed with ‘TMS’ and Mid-market rate has been prefixed with ‘MID’ based on permissible space.
Current Transaction Reference Type Code	S103
Current Customer Reference	SWGPSCCYTEST4
Current Bank Reference	SGH***********463205
Current Customer Statement Narrative (Tag 86)	SG ACU 123-456789-321 46135LA007O3 FX USD 30000.00 AT 1.2729550 28207715
New Customer Statement Narrative (Tag 86)	SG ACU 123-456789-321 46135LA007O3 FX USD 30000.00 AT 1.2729550 28207715 /TMS/2019-10-19T09 56 36 GMT/MID/1 .312432

Priority Payment (debits)– BAI2 Statement (End of day)
Change description	FX Transparency fields (FX Booking timestamp and Mid-market rate) have been added within Record 88. Timestamp has been prefixed with ‘TMS’ and Mid-market rate has been prefixed with ‘MID’ based on permissible space.
Current Transaction Reference Type Code	409
Current Customer Reference	REMI4
Current Bank Reference	SGH0*******TV04VWG
Current Customer Narrative (Record: 88)	20 XXXXXXS NXNO MXXXXXXLS LTD 411651C01QP5 375655100000143 FX USD 12425.00 AT 1.3475058 0314853930
New Customer Narrative (Record: 88)	20 XXXXXXS NXNO MXXXXXXLS LTD 411651C01QP5 375655100000143 FX USD 12425.00 AT 1.3475058 0314853930 /TMS/2018-12-11T10:21:23 GMT/MID/1.337807

Priority Payment (credits) – BAI2 Statement (End of day)
Change description	FX Transparency fields (FX Booking timestamp and Mid-market rate) have been added within Record 88. Timestamp has been prefixed with ‘TMS’ and Mid-market rate has been prefixed with ‘MID’ based on permissible space.
Current Transaction Reference Type Code	S103
Current Customer Reference	SWGPSCCYTEST4
Current Bank Reference	SGH***********463205
Current Customer Narrative (Record: 88)	SG ACU 123-456789-321 46135LA007O3 FX USD 30000.00 AT 1.2729550 28207715
New Customer Narrative (Record: 88)	SG ACU 123-456789-321 46135LA007O3 FX USD 30000.00 AT 1.2729550 28207715 /TMS/2019-10-19T09:56:36 GMT/MID/1.312432

Priority Payment – CSV Statement
Change description	FX Transparency fields (FX Booking timestamp and Mid-market rate) have been added within Textline. Timestamp has been prefixed with ‘TMS’ and Mid-market rate has been prefixed with ‘MID’ based on permissible space.
Current Textline field	20 XXXXXXS NXNO MXXXXXXLS LTD 411651C01QP5 375655100000143 FX USD 12425.00 AT 1.3475058 0314853930
New Textline field	20 XXXXXXS NXNO MXXXXXXLS LTD 411651C01QP5 375655100000143 FX USD 12425.00 AT 1.3475058 0314853930 /TMS/2018-12-11T10 21 23 GMT/MID/1 .337807