Customers with accounts in Egypt: enhancements for ACH Credit payment screens effective 19 June 2016

ACH Credit payment screens for accounts in Egypt are being updated on HSBCnet to capture additional details and ensure payment instruction information is easier to complete and more accurate.

New fields effective 19 June
Purpose of Payment	You may select an appropriate purpose code from the drop down list.
Remittance information	This field can be used to provide details for the payment and will accept up to 140 characters.

Current field labels	New field labels effective 19 Jun
Second Party ID	Beneficiary ID
Second Party Name	Beneficiary name This field accepts up to 35 characters
Bank Number	Bank code
Reference	Beneficiary reference This field accepts up to 35 characters

Updated ACH Credit screen:

(Select image to enlarge)

Whilst the look and feel for the ‘Review’, ‘Acknowledgement’, ‘Authorisation Summary’, ‘Authorisation’ and ‘Partial Authorisation’ screens have been updated the functionality remains intact.

Please note that from 19th June 2016 the payment instruction will be displayed using the new input screen when attempting to create a payment using general or restricted templates and the new fields will be editable. In addition the HSBCnet ACH Credit payment instruction screens will be enhanced to support the industry standard SWIFT Bank Identification Codes (BIC) for accounts domiciled in Egypt.

For additional information on the Egypt ACH Credit enhancement, please contact your local HSBCnet Support Centre or your HSBC representative.

SWIFT Bank Identification Codes (BIC) for ACH Credit payments

Customers with accounts in Egypt currently provide CBID codes (HSBC specific bank codes) in the “Bank Code” entry field when creating ACH Credit payments. HSBCnet ACH Credit payment instruction screens will be enhanced to support the industry standard SWIFT Bank Identification Codes (BIC) for payments from accounts domiciled in Egypt.

HSBCnet ACH Credit screens will include a new drop down list in the “Beneficiary Bank Identifier” entry field where you can select either the Bank Code or the SWIFT BIC. While the Bank Code (CBID) will be the default option in the field at this time we recommend that you start to use industry standard SWIFT BIC codes as we plan to remove support for CBID codes in a future release.

To input the SWIFT BIC for your payment, please select SWIFT BIC in the “Beneficiary Bank Identifier” field. You will now be able to provide the SWIFT BIC by manually entering the code in the text box or by searching for a valid SWIFT BIC using the search function.

(Select image to enlarge)

When creating a payment instruction using general templates, you may change the “Beneficiary Bank Identifier” to SWIFT BIC to include a valid SWIFT BIC for the payment instruction. You will not be able to edit the “Beneficiary Bank Identifier” field in restricted templates. You will need to create a new restricted template to provide a valid SWIFT BIC for the payment instruction.

The table below outlines the SWIFT BIC information for Payment Files uploaded via HSBCnet File Upload:

File Format	Field where you can provide SWIFT BIC for ACH Credit payments
XML v3	<CdtrAgt> <FinInstnId><BIC>
XML v2.0	<CdtrAgt> <FinInstnId><CmbndId><BIC>
iFile	SECPTY- "@LVP@" -Field 36 (Beneficiary Bank ID/SWIFT Address) Please provide “SWF” in Field 35 - Bene Bank ID/SWIFT Address Code
MEABASIC	Column R (LCC code/CBID code) Please provide “SWF” in Column AL
Paymul	Group 12 - FII+BF; Element - C088-3433 (Institution name identification)

FLA (File Level Authorisation)
If your file contains both SWIFT BIC & CBID code, the SWIFT BIC will be validated and given the priority at the time of payment instruction extraction.

ILA (Instruction Level Authorisation)
If your file contains both SWIFT BIC & CBID code, the CBID code will be validated and given the priority at the time of payment instruction extraction.

For additional information on the SWIFT BIC option for Egypt ACH Credit payments, please contact your local HSBCnet Support Centre or your HSBC representative.