Middle East accounts: foreign currency cheques in HSBCnet

Last updated: 3 July 2024

As previously communicated in May 2024, HSBC in some Middle Eastern countries will no longer be offering the issuance of foreign currency cheques, known as demand drafts.

What’s changing?

HSBC foreign currency cheques will no longer be issued from accounts in the following locations:

• UAE
• Kuwait
• Qatar
• Bahrain (new)

What does this mean?

You will no longer be able to submit foreign currency cheque requests using the ‘Demand draft’ option in HSBCnet’s Cheque Outsourcing Service.

In addition, any foreign currency Priority Payments that include the instruction code ‘/CHQB/’ will be rejected by the bank.

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Instead of issuing foreign currency payments by cheque, you can send telegraphic transfers using the ‘Standard FTS Payment (Priority Payments)’ option in ‘Create payment or transfer’ screens in HSBCnet.

You can continue issuing local currency cheques using the Cheque Outsourcing Service or Priority Payment screens in HSBCnet.

Find out more

For more information on how to send Priority Payments, review the ‘How do I create a Priority Payment?’ guide available in the HSBCnet User Guides portal.

Please refer to the Commercial Tariffs document on local HSBC websites for the latest fees and charges for telegraphic transfers.

If you have any questions, please contact your local HSBC representative.