Last updated: 28 August 2023
We’ve listened to your feedback and we’re upgrading our systems in the UAE to help make it easier for you to manage ACH and WPS payments in HSBCnet.
What’s changing?
From 11 September 2023, the following enhancements will be available for payments submitted in HSBCnet:
Currently, when you submit ACH Credit and WPS payments in HSBCnet, HSBC Connect and SwiftNET before 14:00 (GMT+4), the payment is processed the following business day.
As of 11 September 2023, the cut off time for ACH Credit and WPS payments submitted in HSBCnet (as well as HSBC Connect and SwiftNET) is being extended to 19:00 (GMT+4) and can be processed the same day.
Important note: with same day processing, it’s important that you make sure you have sufficient funds in the debit account and have provided full beneficiary details before the payment is authorised in HSBCnet.
Currently, WPS payments can only be made using a beneficiary account’s IBAN. From 11 September, we’re enhancing HSBCnet payment screens to also support sending WPS payments using the 16-digits found on local payroll cards.
For payments between HSBC UAE accounts, the Customer reference field in statements available from Account Information and Reports and Files Download will include additional payment information. The new narrative will include the first 16 characters of the narrative sent by the remitter to help you reconcile transactions.
| Statement format | Field impacted |
|---|---|
MT940 / MT942 |
Tag 61.7 – Customer Reference |
CAMT52 / CAMT53 |
<Ntry><NtryDtls><TxDtls> |
BAI Intraday / BAI EOD |
Segment 16, Customer Reference |
CSV |
No change |
If you use ERP systems or automated account reconciliation programs for your electronic statements, you may need to prepare your system to receive the new statement details.
Find out more
For more information, visit the following pages in the User Guides portal:
If you have any questions, please contact your local HSBCnet Support Centre.