New statement narratives for Canada INTERAC e-Transfer®
Last updated: 12 November 2021
Starting in December 2021, Canadian dollar (CAD) HSBC accounts in Canada will be able to receive INTERAC e-Transfer® credits.
What this means for you
If you use ERP systems or automated account reconciliation programs for electronic statements, you may be impacted by the statement narrative updates. To ensure the ongoing operation of your automated reconciliation processes, we recommend that you review your internal systems and if required, update them by 1 December 2021.
This change affects statement entries in the following file formats: HSBCnet Account Information, Excel exports, Reports and Files Download, BAI2 Intra-Day and End of Day, MT940, MT942 and CSV formatted reports.
The examples provided below are for the purpose of demonstrating the new statement narratives and may not exactly match your statement entries.
1. New Transaction codes for INTERAC e-Transfer credits
New transaction codes have been introduced to identify INTERAC e-Transfer credit transactions in Canadian HSBC accounts. The transaction codes will vary depending on the statements your company receives.
| Statement type | Transaction code |
|---|---|
| HSBCnet Account Information | TRF+ |
| BAI statement | 158 |
| SWIFT MT940/942 | NTRF |
2. For MT940/942 statements:
Bank and Customer references can be as long as 35 characters for INTERAC e-Transfers. SWIFT MT940/MT942 only support 16 characters in Tag 61.7 and 61.8, which can result in truncation of respective references. We recommend /BREF/ and /EREF/ codewords in Tag 86 for the full reference information.
| Incoming INTERAC e-Transfer Credits | ||
|---|---|---|
|
Statement tags |
New values |
Description |
|
Tag 61 Subfield 6-9 |
6. SWIFT Code = NTRF 7. Customer Reference (End to End Reference) = First 16x will be populated from End to End ID if received. If not ‘NONREF’ 8. Bank Reference = 16x 9. /PYTP/SCT CRIN |
INTERAC e-Transfer credits will report with the transaction code NTRF on your SWIFT statements. RTP Identifier is: /PYTP/SCT CRIN |
|
Tag 86 Line 1-6 |
INTERAC e-Transfer (24x) /ORDP/Ordering customer (80x)+ /BREF/Bank Reference (12x)+ /EREF/End to End ID (35x)+ /IREF/Interac Reference (16x)+ /PREF/HSBC Internal Reference (19x) |
Following codeword will be reported as part of statement description of a INTERAC e-Transfer: /ORDP/ - Ordering customer /party name /BREF/ - Bank (HSBC) reference /EREF/ - Ordering customer/party reference or End to End ID if received. If not ‘NONREF’ /IREF/ - Interac Reference /PREF/ - HSBC Internal Reference |
3. For BAI intraday/end of day statements:
Bank and Customer references can be as long as 35 characters for INTERAC e-Transfers. BAI only support 16 characters in record 16, which can result in truncation of respective references. We recommend /BREF/ and /EREF/ codewords in Line 88 for the full reference information.
Statement narratives is populated in BAI report as combination of 16-88 segments as per the space available in segment 16. It means that data can start from segment 16 and then span across segment 88.
| Incoming INTERAC e-Transfer Credits | ||
|---|---|---|
|
Statement tags |
New values |
Description |
|
Tag 16 |
BAI Transaction Code = 158 Amount, Bank Reference, Customer Reference |
INTERAC e-Transfer credits will report with a transaction code 158 on your BAI statement. |
|
Transaction detail and record line 88 continuation (multiple lines) Line 1-6 |
INTERAC e-Transfer (24x) /ORDP/Ordering customer (80x)+ /BREF/Bank Reference (12x)+ /EREF/End to End ID (35x)+ /IREF/Interac Reference (16x)+ /PREF/HSBC Internal Reference (19x) |
Following codeword will be reported as part of statement description of a INTERAC e-Transfer: /ORDP/ - Ordering customer /party name /BREF/ - Bank (HSBC) reference /EREF/ - Ordering customer/party reference or End to End ID if received. If not ‘NONREF’ /IREF/ - Interac Reference /PREF/ - HSBC Internal Reference |
Legend:
1. /CODEWORD/ - Code words that are standard descriptions seen in the statement narratives.
2. <Data Fields> - Description of fields that represent variable data elements that may be displayed as part of the statement narratives.
INTERAC e-Transfer is a registered Trade-mark of Interac Corp. Used under licence.