We’re enhancing the ‘Beneficiary check’ feature

Last updated: 20 March 2024

This article has been updated to reflect the new 'Beneficiary check' enhancement date to 23 March 2024.

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Last year, we extended the ‘Beneficiary check’ service in HSBCnet to include support for additional participating banks. Starting 23 March 2024, to further help protect against mistaken payments, the ‘Beneficiary check’ feature will be enhanced to allow you to check beneficiary account numbers in more beneficiary account locations.

What this means for you

Previously, if you created a payment to a beneficiary bank that was not yet supporting Swift Payment Pre-validation, the ‘Beneficiary check’ option was not available. Starting 23 March, you’ll also be able to check the beneficiary account number for payments in eligible markets using historical payment data from Swift.

Here’s an example Beneficiary check using Swift’s historical payment data:

(select image to enlarge)

Note: Beneficiary account number check against Swift’s historical payment data is not a real-time check with the beneficiary bank, and Swift’s records may no longer be up to date. We recommend that you check with the beneficiary to confirm their details before sending a payment.

Find out more

For more information, visit ‘The Beneficiary check feature’ page in HSBCnet’s User Guides portal.

If you have any questions, please contact your local HSBCnet Support Centre.