Turkey accounts: Purpose of Payment codes are now required for domestic Priority Payments

Last updated: 8 October 2020

In accordance with local regulations, all domestic Turkish lira (TRY) Priority Payments, and foreign currency Priorty Payments to another HSBC account in Turkey, must include a valid Purpose of Payment code.

What this means for you

You’ll need to select a Purpose of Payment code when creating domestic TRY Priority Payments, and foreign currency Priority Payments to another HSBC account in Turkey.

What do I need to do?

All of your domestic TRY Priority Payments, and foreign currency Priority Payments to another HSBC account in Turkey, must include a Purpose of Payment code, or your payments may be delayed. To avoid payment delays, we recommend including a valid Purpose of Payment code in the appropriate fields of your payment instructions as follows:

• On-screen payments in HSBCnet:
All domestic TRY Priority Payments, and foreign currency Priority Payments to another HSBC account in Turkey, must include a valid Purpose of Payment code.
• Standing Instructions and Forward-dated payments:
Existing domestic TRY and foreign currency Standing Instructions and Forward-dated payments, need to be reviewed and, if necessary, updated to include a valid Purpose of Payment code.
• General and Restricted Templates:
If you have any domestic TRY or foreign currency Priority Payment templates in Turkey, we recommend that you review and, if necessary, update them with valid Purpose of Payment codes.

Reminder: if you update a Restricted Template, another individual with account permissions must authorise the change in order for the template to be updated.

Note: in accordance with local regulations, the Purpose of Payment code ‘099 – Other’ should not be used for payments over 10million TRY. Using an incorrect Purpose of Payment code may result in delays with your payments.

Learn how to include Purpose of Payment codes in your payments >

Find out more

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