Purpose of Payment codes required for cross-border payments debiting Bahrain accounts from 1 June
Last updated: 3 May 2021
Beginning 1 June 2021, in accordance with local regulations, Purpose of Payment codes will be required for cross-border payments being sent from your HSBC accounts in Bahrain.
View full list of Purpose of Payment codes for your cross-border payments >
1. On-screen payments in HSBCnet:
For cross-border Priority Payments, the Purpose of Payment code should be included in the ‘Regulatory requirements’ section, along with the ‘/ORDERRES/’ codeword.
(select image to enlarge)
2. Payments submitted using File upload or HSBC Connect:
If you currently send payment files using File upload or through HSBC Connect, you’ll need to include mandatory Purpose of Payment codes in your payment files.
Review the table below for how to include Purpose of Payment codes in your payment files:
File format |
Input field for Purpose of Payment |
Example for cross-border payments |
|---|---|---|
iFile |
SECPTY -"@HVP@" - Field 65 Regulatory Reporting Line 1 |
/ORDERRES/BH//POP code |
MEABASIC |
Column No – BD |
/ORDERRES/BH//POP code |
XML v2.0 |
Regulatory Reporting |
<Inf>/ORDERRES/BH//POP code |
XML v3.0 |
Regulatory Reporting |
3 character Purpose of Payment code; example COM |
Paymul |
Group 15 - FTX+ABY Segment Number: 59 |
FTX+ABY+++/ORDERRES/BH//POP code |
MT103 |
:77B: Regulatory Reporting |
:77B:/ORDERRES/BH//POP code |