Australia accounts: receive real-time payments beginning 1 October

Last updated: 4 August 2020

Beginning 1 October, with Australia’s New Payments Platform (NPP) you’ll be able to receive NPP real-time payments in your Australian accounts on HSBCnet.

What are NPP real-time payments?

NPP real-time payments will be available for HSBC Australian dollar (AUD) accounts held in Australia. NPP real-time payments are:

• processed in real time - 24 hours a day, 7 days a week, 365 days a year
• received from participating banks in AUD currency and crediting AUD accounts
• single debit/credit transactions (bulk payments are not accepted) with no transaction limit

What does this mean for me?

Starting 1 October, you’ll be able to receive NPP real-time payments into your HSBC AUD accounts held in Australia from participating financial institutions.

When you’re receiving an Australian real-time payment, your account will be credited within approximately 17 seconds.

Note: at this time, real-time payments are not yet available for outward payments made from your HSBC AUD accounts.

What’s changing on HSBCnet?

Beginning 1 October, we’re introducing new statement and transaction information for NPP real-time payments to help you identify your transactions more easily. Using HSBCnet’s Account information and Reports and files download services, you can select the ‘RT PYMT’ transaction type to view your incoming real-time payments.

If you have an automated account reconciliation process in place, please review the changes to account information and statement reporting as you may need to change your settings.

Find out more

If you have any questions, please contact your local HSBCnet Support Centre.