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Purpose of Payment codes required for payments debiting Egypt accounts from 12 June 2022

Beginning 12 June 2022, in accordance with local regulations, Purpose of Payment codes will be required for ACH and Priority Payments being sent from your HSBC accounts in Egypt.

View full list of Purpose of Payment codes for your cross-border payments❯

To avoid any rejections or delays in sending your payments, we recommend that you review and, if necessary, update your payment creation and templates to include valid Purpose of Payment as follows:

    1. ACH Payments

    The additional details section of the payment screen will include a mandatory ‘Purpose of payment’ field where you can select a Purpose of Payment from the dropdown menu. If you are issuing a payment other than EGP, please ensure the relationship detail is provided under ‘Remittance information’.

    Below is how the new ‘Purpose of payment’ & ‘Remittance information’ fields will look like:

    Purpose of payment & Remittance information
    (select image to enlarge)

    2. Priority Payments - domestic and cross-border

    The additional details section of the payment screen will include a mandatory ‘Purpose of payment’ (in the 'Regulatory requirements' field) from where you can select a Purpose of Payment description from the dropdown menu. For any domestic payments in currencies other than EGP, please ensure the relationship detail is captured under the ‘Remittance information’ field.

    Below is how the new ‘Regulatory requirement’ and ‘Information for the beneficiary’ fields will look like:

    Regularoty requeriments
    (select image to enlarge)

    Additional details
    (select image to enlarge)

    3. Standing instructions, restricted templates and forward-dated payments:

    We recommend reviewing your standing instructions, restricted templates and forward-dated payments to ensure the Purpose of Payment is captured.

    For foreign currency payments inside Egypt, relationship is a mandatory requirement in addition to Purpose of Payment.

    Reminder: when you update a restricted template, standing instruction, or forward-dated payment, you’ll need to have another user approve the changes in the Authorisation summary service before the update is applied.

    4. 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, or else your payments will be rejected.

    Review the table below for how to include Purpose of Payment codes in your payment files:

    i. For ACH payments:

    File format Input field for Purpose of Payment (PoP) Example
    iFile Second Party Details Record (SECPTY) >'@LVP@'>
    field 65 Regulatory Reporting Line 1    		 POP code only; PoP code example: CACC
    MEABASIC AK Purpose of Payment (4 char) POP code only; PoP code example: CACC
    XML v2.0 Regulatory Reporting
    <RgltryRptg>
    <RgltryDtls>
    <Inf>    		 <RgltryRptg>
    <RgltryDtls>
    <Inf>PoP code</Inf>
    </RgltryDtls>
    </RgltryRptg>
    PoP code example: CACC
    XML v3.0 Regulatory Reporting
    <RgltryRptg>
    <Dtls>
    <Cd>    		 <RgltryRptg>
    <Dtls>
    <Cd>PoP code</Cd>
    </Dtls>
    </RgltryRptg>
    PoP code example: CACC
    Paymul Group 15 - FTX+ABY Segment Number: 59 Element - C108-4440
    Element - C108-4440
    Free text[1]    		 FTX+ABY+++PoP code
    PoP code example: CACC

    ii. For Priority Payments in EGP currency:

    Additional details in the ‘Remittance information’ field cannot exceed 35 characters.

    File format   Input field for Purpose of Paymet (PoP) Example
    iFile When PoP is ‘Other’ Second Party Details Record (SECPTY) >'@HVP@'>
    field 65 Regulatory Reporting Line 1 for 'Other'
    filed 66 Regulatory Reporting Line 2 for description    		 Line1 - /BENEFRES/EG//Other
    Line2 - Meaningful Payment Purpose up to 35 characters
    When PoP is not ‘Other’ Second Party Details Record (SECPTY) >'@HVP@'>
    field 65 Regulatory Reporting Line 1    		 Line1 - /BENEFRES/EG//Payment Purpose
    MEABASIC When PoP is ‘Other’ BD Regulatory Reporting Line 1 (35 char)
    BP Regulatory Reporting Line 2 (35 chars)    		 BD - /BENEFRES/EG//Other
    BP - Meaningful Payment Purpose up to 35 characters
    When PoP is not ‘Other’ BD Regulatory Reporting Line 1 /BENEFRES/EG//Payment Purpose
    XML v2.0 When PoP is ‘Other’ Regulatory Reporting
    <RgltryRptg>
    <RgltryDtls>
    <Inf>    		 <RgltryRptg>
    <RgltryDtls>
    <Inf>/BENEFRES/EG//Other</Inf>
    </RgltryDtls>
    </RgltryRptg>
    <RgltryRptg>
    <RgltryDtls>
    <Inf> Meaningful Payment Purpose up to 35 characters
    </Inf>
    </RgltryDtls>
    </RgltryRptg>
    When PoP is not ‘Other’ Regulatory Reporting
    <RgltryRptg>
    <RgltryDtls>
    <Inf>    		 <RgltryRptg>
    <RgltryDtls>
    <Inf>/BENEFRES/EG//Payment Purpose </Inf>
    </RgltryDtls>
    </RgltryRptg>  
    XML v3.0 When PoP is ‘Other’ Regulatory Reporting
    <RgltryRptg> <Dtls><Cd>
    <RgltryRptg> <Dtls><Inf>    		 <RgltryRptg>
    <Dtls>
    <Cd>Other</Cd>
    <Inf>/BENEFRES/EG// Meaningful Payment Purpose up to 35 characters
    </Inf>
    </Dtls>
    </RgltryRptg>
    When PoP is not ‘Other’ Regulatory Reporting
    <RgltryRptg>
    <Dtls>
    <Inf>    		 <RgltryRptg>
    <Dtls>
    <Inf>/BENEFRES/EG//Payment Purpose</Inf>
    </Dtls>
    Paymul When PoP is ‘Other’ Group 15 - FTX+ABY Segment Number: 59 Element - C108-4440
    Element - C108-4440
    Free text[1]
    Free Text[2]    		 FTX+ABY+++/BENEFRES/EG//Other:
    Meaningful Payment Purpose up to 35 characters
    (Colon as separator between Free Text Line 1 and Line 2)
    When PoP is not ‘Other’ Group 15 - FTX+ABY Segment Number: 59 Element - C108-4440
    Element - C108-4440
    Free text[1]    		 FTX+ABY+++/BENEFRES/EG//Payment Purpose
    MT103 When PoP is ‘Other’ :77B: Regulatory Reporting Line 1 and Line2 :77B:/BENEFRES/EG//Other
    // Meaningful Payment Purpose up to 35 characters
    When PoP is not ‘Other’ :77B: Regulatory Reporting Line 1 :77B:/BENEFRES/EG//Payment Purpose

    iii. For Priority Payments in other currencies :

    File format   Input field for Purpose of Payment (PoP) / Relationship Details Example
    iFile When PoP is ‘Other’ Second Party Details Record (SECPTY) >'@HVP@'>
    field 65 Regulatory Reporting Line 1 for 'Other'
    filed 66 Regulatory Reporting Line 2 for description    		 Line1 - /ORDERRES/EG//Other
    Line2 - Meaningful Payment Purpose up to 35 characters
    When PoP is not ‘Other’ Second Party Details Record (SECPTY) >'@HVP@'>
    field 65 Regulatory Reporting Line 1    		 Line1 - /ORDERRES/EG//Payment Purpose
    If payment is from Egypt to Egypt, relationship detail is mandatory SECPTY - 44 Payment Details Line 1 Relationship detail up to 35 free text characters
    MEABASIC When PoP is ‘Other’ BD Regulatory Reporting Line 1 (35 char)
    BP Regulatory Reporting Line 2 (35 chars)    		 BD - /ORDERRES/EG//Other
    BP - Meaningful Payment Purpose up to 35 characters
    When PoP is not ‘Other’ BD Regulatory Reporting Line 1 /ORDERRES/EG// Payment Purpose
    If payment is from Egypt to Egypt, relationship detail is mandatory AH Payment Detail 1 Relationship detail up to 35 free text characters
    XML v2.0 When PoP is ‘Other’ Regulatory Reporting
    <RgltryRptg>
    <RgltryDtls>
    <Inf>    		 <RgltryRptg>
    <RgltryDtls>
    <Inf>/ORDERRES/EG//Other</Inf>
    </RgltryDtls>
    </RgltryRptg>
    <RgltryRptg>
    <RgltryDtls>
    <Inf> Meaningful Payment Purpose up to 35 characters
    </Inf>
    </RgltryDtls>
    </RgltryRptg>
    When PoP is not ‘Other’ Regulatory Reporting
    <RgltryRptg>
    <RgltryDtls>
    <Inf>    		 <RgltryRptg>
    <RgltryDtls>
    <Inf>/ORDERRES/EG//Payment Purpose </Inf>
    </RgltryDtls>
    </RgltryRptg>
    If payment is from Egypt to Egypt, relationship detail is mandatory <RmtInf>
    <Ustrd>    		 <RmtInf>
    <Ustrd> Free Text Relationship Detail </Ustrd>
    </RmtInf>
    XML v3.0 When PoP is ‘Other’ Regulatory Reporting
    <RgltryRptg> <Dtls><Cd>
    <RgltryRptg> <Dtls><Inf>    		 <RgltryRptg>
    <Dtls>
    <Cd>Other</Cd>
    <Inf>/ORDERRES/EG// Meaningful Payment Purpose up to 35 characters
    </Inf>
    </Dtls>
    </RgltryRptg>
    When PoP is not ‘Other’ Regulatory Reporting
    <RgltryRptg>
    <Dtls>
    <Inf>    		 <RgltryRptg>
    <Dtls>
    <Inf>/ORDERRES/EG// Payment Purpose</Inf>
    </Dtls>
    If payment is from Egypt to Egypt, relationship detail is mandatory <RmtInf>
    <Ustrd>    		 <RmtInf>
    <Ustrd> Meaningful Relationship Detail</Ustrd>
    </RmtInf>
    Paymul When PoP is ‘Other’ Group 15 - FTX+ABY Segment Number: 59 Element - C108-4440
    Element - C108-4440
    Free text[1]
    Free Text[2]    		 FTX+ABY+++/ORDERRES/EG//Other:
    Meaningful Payment Purpose up to 35 characters
    (Colon as separator between Free Text Line 1 and Line 2)
    When PoP is not ‘Other’ Group 15 - FTX+ABY Segment Number: 59 Element - C108-4440
    Element - C108-4440
    Free text[1]    		 FTX+ABY+++/ORDERRES/EG//
    Payment Purpose
    If payment is from Egypt to Egypt, relationship detail is mandatory Group 16 FTX+PMT
    Element C108-4440
    Free text    		 FTX+PMT+++Relationship detail
    MT103 When PoP is ‘Other’ :77B: Regulatory Reporting Line 1 and Line2 :77B:/ORDERRES/EG//Other
    // Meaningful Payment Purpose up to 35 characters
    When PoP is not ‘Other’ :77B: Regulatory Reporting Line 1 :77B:/ORDERRES/ EG//Payment Purpose
    If payment is from Egypt to Egypt, relationship detail is mandatory Tag 70 line 1 :70:/Relationship Details

     

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