Egypt accounts: introducing IBAN details for your accounts from 30 June
Last updated: 1 June 2020
Starting 30 June 2020, all banks in Egypt are required to accept and process payment instructions that include a valid International Bank Account Number (IBAN) for accounts held in Egypt. In accordance with local regulations, an IBAN has been created for your HSBC Egypt account(s).
What this means for payments you receive
Beginning 30 June, if you wish to receive payments using your IBAN, make sure that you provide the IBAN for your HSBC account to anyone who may be sending you payments. If you issue invoices, we recommend that you to include the IBAN in your invoices.
You can find your account’s IBAN in the account details section of HSBCnet’s Account Information service. Your IBAN will also be included in your statement reports along with your HSBC account number.
Here’s where your IBAN will be available:
(select image to enlarge)
You have the option to continue receiving payments using your HSBC account number, without an IBAN, until further notice.
What this means for payments you send
From 30 June, you can start sending domestic payments using a valid IBAN instead of an account number.
To do so, we recommend taking the following action:
- Payments created in HSBCnet:
When using HSBCnet payment and template screens, you can input the IBAN in the beneficiary account number field. For inter-account transfers within HSBC Egypt, you can continue to use HSBC account numbers. - File Upload or HSBC Connect:
You can use the beneficiary IBAN in place of the beneficiary account number in your payment files. If you’re unfamiliar with including an IBAN in your payment files, please contact your Client Service representative. - Forward-dated payments and Standing instructions:
If you have any Forward-dated payments or Standing instructions with a value date of 30 June or later, you can update the beneficiary account number field to an IBAN.
While using an IBAN is optional at this time, we recommend that you provide a valid beneficiary IBAN when creating your payment instructions to help avoid payment delays or rejections.
Find out more
If you have any questions, please contact your local HSBCnet Support Centre.
The postal address for related inquiries is:
HSBC Group Head Office
HSBC - GLCM Digital
London UK E14 5HQ
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