Having trouble reading this e-mail? View the online version or view this newsletter after logging on to HSBCnet. |
||||||||||||||||||
 |
||||||||||||||||||
|
||||||||||||||||||
 Customers with accounts in UAE: updated information regarding new pension requirements and ACH Credit enhancements Important reminder regarding the enhanced Singapore GIRO (ACH) payment service Balance and Transaction Reporting will soon be demised User Tip: improve Priority Payment processing with these helpful tips Security Tip: staying protected against "Vishing" Information on HSBCnet service maintenance windows |
||||||||||||||||||
Customers with accounts in UAE: updated information regarding new pension requirements and ACH Credit enhancements Further to our communications sent in February and March 2015 with regards to the above, please note that the changes to ACH credit screens and payment file formats are now being implemented effective 17 May 2015. The new screens capture Purpose of Payment information and additional details for pension payments. The enhanced screens are much more user friendly and follow the current payment processing workflow for easy transition. UAE pension payment requirements: As a reminder, beginning 1 June 2015, you will be able to submit your GPSSA (General Pension & Social Security Authority) pension contributions (if any) via HSBCnet. As per local UAE regulation, you will be required to submit any monthly contributions by the 15th of the following month. For example, you will need to submit your May 2015 pension contributions by 15 June 2015. Pension payments can be initiated via the following methods:
Please note, File Upload via Instruction level authorisation will not be available for Pension payments. Although the new screens will be made available from 17 May 2015, you are requested not to use them for pension payments until June 2015 for your May 2015 pension contributions. Please note, use of these new screens for pension payments prior to June 2015 may result is pension payment rejections. In addition to requirements to update details for pension payments, you will also be required to notify us in writing of any adjustments to staff pension payments. Payment files submitted via the HSBCnet File Upload service are also being enhanced to capture the additional details for pension payments and to capture Purpose of Payment. Purpose of Payment requirement for all ACH Credit payments: Purpose of payment for all ACH Credit payments debiting UAE accounts will become mandatory as of 17 May 2015. After the effective date, when you create an ACH Credit payment manually on HSBCnet, you will need to select the appropriate Purpose of Payment code from the newly introduced Purpose of Payment field. File Upload customers will have a grace period until 6 December 2015 to make relevant changes in their file formats to provide Purpose of Payment code in the Purpose of Payment field. Until 6 December 2015, File Upload customers can use the existing 2nd party reference field to input the Purpose of Payment code. For customers using instruction level authorisation, if the approver sends the payment file to repair, then the new Purpose of Payment field will become mandatory and the user repairing the payments will need to select the appropriate Purpose code. Learn more > Please ensure that you include the appropriate information in the Purpose of Payment fields to avoid payment rejections. For guidance on HSBCnet Payments/Templates changes, please contact HSBCnet UAE Helpdesk at hsbcnetuaehelpdesk@hsbc.com. |
||||||||||||||||||
Important reminder regarding the enhanced Singapore GIRO (ACH) payment service As previously communicated, HSBCnet recently enhanced its GIRO (ACH) services to support the local payment infrastructure upgrade in Singapore. As a result of this upgrade, a SWIFT bank code and a Payment Purpose code are now required for all domestic SGD ACH / Bulk payments debiting accounts in Singapore. Please adhere to the following guidelines when creating SGD ACH / Bulk payment instructions in HSBCnet to help ensure your payments are processed successfully:
|
||||||||||||||||||
Balance and Transaction Reporting will soon be demised For those users who have been using the Balance and Transaction Reporting service to receive information on their accounts, please note that ‘Account Information’ has been introduced to replace Balance and Transaction Reporting. However, the two services are still available in parallel for a limited time. To provide a smooth transition, all information within 'Account Information' can be found in the same way you are used to in Balance and Transaction Reporting. For further assistance please review the following: Additional resources including a Quick Guide to compare Account Information and BTR as well as an Account Information training video are available in the service Help Text. |
||||||||||||||||||
User Tip: improve Priority Payment processing with these helpful tips The inclusion of all relevant information in your Priority Payment instructions helps enable straight-through processing, preventing processing delays and/or charges associated with incorrect payment details. Follow the best practices provided below to help ensure the efficient processing of your Priority Payments: Use the HSBCnet Beneficiary Bank Identifier field to validate and automatically populate bank information (For example, the Bank Identifier Code (BIC) / SWIFT codes). Only include the bank code in this field, the bank’s name and address details will be populated by HSBCnet. Including any additional information in this field may result in delayed processing.
Provide an appropriate Purpose of Payment code for destination countries where this is mandatory. Failure to do so may lead to rejections, delays and/or additional charges. You may choose to provide this information in either the "Information to Beneficiary" field or "Regulatory Reporting" field.
|
||||||||||||||||||
Security Tip: staying protected against "Vishing" “Vishing”, also known as Voice Phishing, is the term used to describe tactics used by fraudsters to “fish” for personal information (such as online banking security credentials) over the phone. Being vigilant against this type of fraud helps keep you protected. Fraudsters may contact you pretending to be from HSBC. They may direct you to perform actions which may enable unauthorised payments to be sent to the criminal. This may include providing security codes generated from your token. Please note, HSBC will never request information that could be used to make a payment, such as asking you to provide security device codes or requiring you to divulge any of your security details over the phone. If you are ever doubtful about your HSBCnet activities, please call your local HSBCnet Support Centre. You can also contact your HSBCnet Support Centre or your HSBCnet Representative for further verification if you doubt the authenticity of any incoming telephone calls purporting to be from HSBC. |
||||||||||||||||||
Information on HSBCnet service maintenance windows
At times it is necessary to schedule non-regular maintenance windows to perform special types of maintenance. Notification of both planned and unplanned maintenance windows will also be posted to the HSBCnet Service Updates section.
*Maintenance window dates, beginnings and ends may be subject to change (with notice) to accommodate maintenance requirements. Note: in the week prior to a service maintenance period, a Service Update banner confirming the maintenance window will be available post-logon in HSBCnet. Please review this information in advance of any planned maintenance period to confirm the date and time. |
||||||||||||||||||
