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New statement narratives for outward US Real-Time Payments

Here are the new statement narrative and transaction codes for Real-Time Payments debiting* your US-domiciled HSBC account(s). Please note:

  • This does not change any transaction codes or transaction postings for other transactions processed via your account.
  • The examples provided below are for the purpose of demonstrating the new statement narratives and may not exactly match your statement entries.

  1. New Transaction codes for Real-Time Payment debits
    2.

    New transaction codes have been introduced to identify Real-Time Payment debit transactions* in your account. The transaction codes will vary depending on the statements your company receives.

    Statement type Transaction code

    HSBCnet Account Information

    967

    BAI statement

    458

    SWIFT MT 940/942

    NTRF

    ISO XML camt.052/camt.053

    PMNT.IRCT.DMCT

    *Additional fees will apply. Please refer to terms and charges or contact your HSBC representative.

  2. For MT940/942 statements:
    3.

    Real-Time Payment Debits

    Statement tags

    New values

    Description

    Tag 61
    Subfield 6

    SWIFT Code = NTRF

    Real-Time Payment debits will report with the transaction code NTRF on your SWIFT statements.

    Tag 86
    Line 1-6

    Line1: REAL TIME PAYMENT TO
    LINE 2-6:
    /BENM/<Beneficiary Name>
    /BBK/<Beneficiary Bank clearing code>
    /BREF/< Bank Reference>
    /EREF/<EndtoEnd Id>
    /REMI/<Remittance Information>
    /TIME/<Time of debit in EST>

    Following code words will be reported as part of statement description of a Real-Time Payment:
    /BENM/ - Beneficiary name
    /BBK/ - Beneficiary bank clearing code
    /BREF/ - Bank reference
    /EREF/- Your reference or end to end ID
    /REMI/ - Remittance information where available
    /TIME/ - Time of transaction posting

    Sample statement entry
    :61:1906210624DD6,87NTRFTestTestTestTest//66135K3012UP
    :86:REAL TIME PAYMENT TO /BENM/My Bene Test RTP/BBK/000000050/BREF/66135K3012UP/EREF/TestTestTestTest/REMI/test remittance/TIME/01 38

    What this means for you:

    1. You may not need to make any changes immediately.
    2. Real-Time Payments are a new payment mechanism for the US. Once your organisation starts using Real-Time Payments, you may need to make changes to your system in order to reconcile the Real-Time Payment debits in your accounting system.
    3. Bank and Customer references can be as long as 35 characters for Real-Time Payments. Since SWIFT MT940/942 only support 16 characters in Tag 61.7 and 61.8, this can lead to the respective references getting truncated. We recommend /BREF/ and /EREF/ code words in Tag 86 for the full reference information.
    4. For transactions made from HSBC to HSBC accounts, the Beneficiary bank clearing code <BBK> will be defaulted to “022000020

    Legend:

    1. /CODEWORD/ - Code words that are standard descriptions seen in the statement narratives.
    2. <Data Fields> - Description of fields that represent variable data elements that may be displayed as part of the statement narratives.


  3. For BAI intraday/end of day statements:
    4.

    Real-Time Payment Debits

    Statement tags

    New values

    Description

    Record 16
    Transaction Detail

    BAI Transaction Code = 458
    BAI Description = REAL TIME PAYMENT TO

    Real-Time Payment debits will report with a transaction code 458 on your BAI statement.

    Line 88

    Line 1: REAL TIME PAYMENT TO
    LINE 2-6:
    /BENM/<Beneficiary Name>
    /BBK/< Beneficiary Bank clearing code> /BREF/< Bank Reference> /EREF/<EndtoEnd Id> /REMI/<Remittance Information> /TIME/<Time of debit in EST>

    Following code words will be reported as part of statement description of a Real-Time Payment:
    /BENM/ - Beneficiary name
    /BBK/ -  Beneficiary bank clearing code
    /BREF/ - Bank reference
    /EREF/ - Your reference or end to end ID
    /REMI/ - Remittance information where available
    /TIME/ - Time of transaction posting

    Sample statement entry
    16,458,687,V,190906,,2019022000000001,ABCDEF TEST 0018,REAL TIME PAYMENT TO
    88,/BENM/MY BENEFY TEST RTPC/BBK/00000
    88,0010/BREF/20190220000000010B1BMAYR00184973786/EREF/ABCDEF TEST 00184973786/RE
    88,MI/TEST REMITTANCE140/TIME/08:09

    What this means for you:

    1. You may not need to make any changes immediately.
    2. Real-Time Payments are a new payment mechanism for the US. Once your organisation starts using Real-Time Payments, you may need to make changes to your system in order to reconcile the Real-Time Payment debits in your accounting system.
    3. Bank and Customer references can be as long as 35 characters for Real-Time Payments. Since SWIFT MT940/942 only support 16 characters in Tag 61.7 and 61.8, this can lead to the respective references getting truncated. We recommend /BREF/ and /EREF/ code words in Tag 86 for the full reference information.
    4. For transactions made from HSBC to HSBC accounts, the Beneficiary bank clearing code <BBK> will be defaulted to “022000020”

    Legend:

    1. /CODEWORD/ - Code words that are standard descriptions seen in the statement narratives.
    2. <Data Fields> - Description of fields that represent variable data elements that may be displayed as part of the statement narratives.


  4. For XML camt.052/camt.053 statements:
    5.

Real-Time Payment Debits

Statement tags

New values

Description

ISO Family Transaction Codes:
Domain Code: PMNT
Family Code: IRCT
Sub Family Code: DMCT

<Domn><Cd>PMNT</Cd>
<Fmly>
<Cd>IRCT</Cd>
<SubFmlyCd>DMCT</SubFmlyCd>
</Fmly>
</Domn>

Real-Time Payment Codes will report with XML Codes PMNT.IRCT.DMCT on your XML statement.

Additional narrative information tag
<AddtlNtryInf>

<Ntry><AddtlNtryInf>
REAL TIME PAYMENT TO
/BENM/<Beneficiary Name>
/BBK/<Beneficiary Bank clearing code> /BREF/< Bank Reference> /EREF/<EndtoEnd Id> /REMI/<Remittance Information> /TIME/<Time of debit in EST>

Following code words will be reported as part of statement description of a Real-Time Payment:
/BENM/ - Beneficiary name
/BBK/ -  Beneficiary bank clearing code
/BREF/ - Bank reference
/EREF/ - Your reference or end to end ID
/REMI/ - Remittance information where available
/TIME/ - Time of transaction posting

Additional data elements within the transaction block will be populated depending on the availability.

1.
<Ntry><NtryDtls><TxDtls><Refs>
<AcctSvcrRef>
Bank reference or BREF
2.
<Ntry><NtryDtls><TxDtls><Refs>
<EndToEndId>
Your reference or EREF
3.
<Ntry><NtryDtls><TxDtls><Refs>
<TxId>
Bank reference or BREF
4.
<Ntry><NtryDtls><TxDtls>
<RltdPties><Cdtr><Nm>
Beneficiary Name of BENM
5.
<Ntry><NtryDtls><TxDtls>
<RltdPties><Dbtr><Nm>
Originating customer name
6.
<Ntry><NtryDtls><TxDtls>
<RmtInf><Ustr>
Remittance Information or REMI

Data enrichment within individual transactions for easier reconciliation.
Sample statement entry

<Ntry>
<NtryRef>20170409990000001S1BAAAA190219BM62</NtryRef>
<Amt Ccy="USD">292.60</Amt>
<CdtDbtInd>CRDT</CdtDbtInd>
<RvslInd>false</RvslInd>
<Sts>BOOK</Sts>
<BookgDt>
<Dt>2019-07-03</Dt>
</BookgDt>
<ValDt>
<Dt>2019-07-02</Dt>
</ValDt>
<AcctSvcrRef>20170409990000001S1BAAAA190219BM62</AcctSvcrRef>
<BkTxCd>
<Domn><Cd>PMNT</Cd>
<Fmly>
<Cd>RRCT</Cd>
<SubFmlyCd>DMCT</SubFmlyCd>
</Fmly>
</Domn>
<Prtry>
<Cd>NTRF</Cd>
<Issr>SWIFT</Issr>
</Prtry>
</BkTxCd>
<NtryDtls>
<TxDtls>
<Refs>
<AcctSvcrRef>20170409990000001S1BAAAA190219BM62</AcctSvcrRef>
<EndToEndId> E2EREF4359894590219BM62</EndToEndId>
<TxId>20170409990000001S1BAAAA190219BM62</TxId>
</Refs>
<AmtDtls>
<TxAmt>
<Amt Ccy="USD">292.60</Amt>
</TxAmt>
</AmtDtls>
<BkTxCd>
<Prtry>
<Cd>NTRF</Cd>
<Issr>SWIFT</Issr>
</Prtry>
</BkTxCd>
<RltdPties>
<Dbtr>
<Nm> A+B London Office </Nm>
</Dbtr>
<Cdtr>
<Nm> AB Toronto Office Global Headquarters </Nm>
</Cdtr>
</RltdPties>
<RltdAgts>
<DbtrAgt>
<FinInstnId>
<Nm>022000020</Nm>
</FinInstnId>
</DbtrAgt>
</RltdAgts>
<RmtInf>
<Ustrd> REMITINFO11REMITINFO22REMITINFO33REMITINFO44
REMITINFO55REMITINFO66REMITINFO77REMITINFO11REMITINFO22
REMITINFO33REMITINFO44REMITINFO55REMITIN/</Ustrd>
</RmtInf>
</TxDtls>
</NtryDtls>
<AddtlNtryInf> REAL TIME PAYMENT TO /BENM/AB Toronto Office
Global Headquarters/BBK/990000001/BREF/20170409990000001S1BAAAA
190219BM62/EREF/E2EREF4359894590219BM62 /REMI/REMITINFO11
REMITINFO22REMITINFO33REMITINFO44REMITINFO55REMI TINFO66
REMITINFO77REMITINFO11REMITINFO22REMITINFO33REMITINFO44REM
ITINFO55REMITIN/TIME/02:05</AddtlNtryInf>
</Ntry>

 

What this means for you:

  1. You may not need to make any changes immediately.
  2. Real-Time Payments are a new payment mechanism for the US*. Once your organisation starts using Real-Time Payments, you may need to make changes to your system in order to reconcile the Real-Time Payment debits in your accounting system.
  3. For transactions made from HSBC to HSBC accounts, the Beneficiary bank clearing code will be defaulted to “022000020”

Find out more

If you have any questions about file formatting, or sending Real-Time Payment files, please contact your Client Services representative.

*Additional fees will apply. Please refer to terms and charges or contact your HSBC representative.

 

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