Receiving payments
Take control of your cash flow
| Online and offline collections | Express banking services | Integrated solutions | |
|---|---|---|---|
| Yes | Yes | Yes |
Here's what you get:
- Online collections - make domestic electronic funds transfer (high and low value), international funds transfer, and direct debit
- Offline collections - including cheques and prompt invoices
- UAE HSBC network collections:
- Consolidate data captured by our branch network
- Deliver post-dated cheques, for a fast clearing date
- Offer cheque purchase or discounts, to encourage short-term financing
Plus:
- Receivables Management System - get the latest automated reconciliation and information management modules. These will fully integrate with our collection systems
- Integrated systems - together we'll work with your accounts or treasury systems via HSBCnet, our global internet banking platform, or host-to-host via HSBC Connect providing secure transmission of high volume transactions
| Outward Remittances 1,2,3 | Electronic 4 | Manual 5 |
|---|---|---|
| Book Transfer to Own Accounts within HSBC UAE | Free | Free |
| Book Transfer to Other Accounts within HSBC UAE | Free | Free |
| International Telegraphic Transfer | AED 40 | AED 100 |
| Local/Central Bank Telegraphic Transfer | AED 40 | AED 75 |
| Additional Charge to send Telegraphic Transfers in full (All Charges to Debit Account / Charges "OUR") | ||
| - within HSBC Group b | AED 50 | |
| - outside HSBC Group c | AED 100 | |
| Cashier Order (COC) / Demand Draft (DD) | Electronic 4 | Manual 5 |
| COC / International DD issuance | AED 25 | AED 35 |
| COC / International DD Cancellation or Stop Payment | AED 100 | |
| Inward Remittances | Per Transaction | |
| Local/Central Bank Inward Credits | Free | |
| Foreign Currency Inward Credits | AED 25 | |
| Remittances Queries | ||
| - Payment Investigations / Fate Enquiry - Cancellation / Recall of Remittance funds |
AED 150 + AED 80 per cable message (maximum charge of AED 500) |
|
| Payment Referral 11 | AED 100 | |
| Standing Instructions (SI) | Electronic 4 | Manual 5 |
|---|---|---|
| Set up | Free d | AED 50 |
| Amendment | Free d | AED 100 |
| Penalty fee for insufficient funds | AED 50 | |
| AutoPay-Out | |
|---|---|
| Transaction Fee | |
| Issued to HSBC accounts in the UAE | Free |
| Issued to Third Party Bank accounts in the UAE | AED 5 per item |
| Additional Fee by Channel | |
| Electronic Banking channels | Free |
| Diskettes | AED 200 per Excel file 6 |
| Paper Schedules 7 | AED 400 per Schedule |
| Wages Protection System (WPS) | |
| WPS via AutoPay Out Transaction Fees | |
| Issued to HSBC accounts in the UAE | Free |
| Issued to Third Party Bank accounts and exchange houses in the UAE | AED 5 per item |
| Additional Fee by Channel | |
| Electronic Banking channels | Free |
| Diskettes | AED 200 per file |
| WPS Funding Account Transfer 8 | |
| WPS Funding Account Transfer Request | AED 1000 per request per exchange house |
| AutoPay-Out / WPS Exception Handling Fees | |
| Payment Investigation 10 | AED 50 |
| Payment Referral 11 | AED 100 |
Notes:
1. These are HSBC UAE ("HSBC") charges only; other Beneficiary Bank (i.e. Third Party Bank or other HSBC Group office) charges may be deducted from the remitted amount.
2. The Beneficiary of a remittance may be required to pay additional charges depending on the conditions set by the Remitter, Remitting Bank or Beneficiary Bank.
3. The prevailing exchange rate will apply to all cross currency transactions.
- Value date is subject to local payment cut-off times and holidays
- In cases where the correspondent/ intermediary charge claims are substantially higher than the above fee, HSBC reserves the right to recover the difference
- Some Beneficiary Banks may deduct charges from the remitted amount. In cases where the correspondent/ intermediary charge claims are substantially higher than the above fee, HSBC reserves the right to recover the difference
- Only through an electronic banking channel
4. Electronic = payment instructions originating from Electronic Banking channels (HSBC Connect, HSBCnet, Business Internet Banking, SwiftNet, Automated Standing Instruction), and Diskettes (CD or DVD disks).
5. Manual = payment instructions originating from Branches (excluding Diskette drop-offs) and Telephone Banking.
6. If one diskette contains several files, each file will be charged separately.
7. Paper Schedule is a discontinued service.
8. If a customer wishes to make their WPS payment through an exchange house but needs to fund the exchange house from their account with HSBC, they need submit to WPS Funding Account Transfer Request.
9. Returned Items = when a third party bank is unable to process an HSBC payment instruction due to incomplete or incorrect payment details as issued by an HSBC customer.
10. Payment Investigation = when HSBC customer raises a special request to HSBC for investigation of an issued payment instruction.
11. Payment Referral = when HSBC is required to refer the payment instruction to an HSBC Relationship Manager for approval or back to an HSBC customer for additional information.
12. The schedule of fees and charges may change without prior notice.
| Transaction | Currency | Cut-off time | Value date |
|---|---|---|---|
| Internal account transfers (within HSBC UAE accounts same currency) | All Currencies | - Electronic Banking - No cut-off time - HSBCnet - 3:45 p.m (UAE time) - Manual Banking - Subject to bank timing |
- Electronic Banking: Immediate - Standing Instruction: Same day - Branch/Call Centre: Same day |
| Internal account transfers (within HSBC UAE accounts different currency) | All Currencies | Click here | - Electronic Banking: Same day - Standing Instruction: Same day - Branch/Call Centre: Click here |
| Telegraphic Transfers to UAE and Overseas Banks | All Currencies | Click here | - Electronic Banking: As per value date - Standing Instruction: As per value date - Branch/Call Centre: Two working days (SPOT) |
| Transaction | Currency | Cut-off time | Hold value date |
| Clean Bills Receivable (Foreign Currency Cheque/Draft Clearing) | USD, EUR & GBP drawn on home countries | 03:00 PM | Credit with 7 days |
| Clean Bills Receivable (Foreign Currency Cheque/Draft Clearing) | All Currencies Excluding USD, EUR & GBP | 03:00 PM | Credit with 14 days |
| Clean Bills for collection (Foreign Currency Cheque/Draft Clearing) | All Currencies | 03:00 PM | On receipt of funds from drawee bank |
| Transaction | Currency | Cut-off time | Action date |
| Demand Draft | All Currencies | 02:00 PM | Processed within 2 working days and dispatched to the customers |
| Cashier's Order | AED | 02:00 PM | Processed within 2 working days and dispatched to the customers |
| Internet Banking and Passwords | 03:30 PM | Processed within 2 working days and dispatched to the customers | |
| Online Credit Card Requests | 02:00 PM | A representative of the Bank will contact the customer within 1 working day | |
| Bill Payment | AED | 02:00 PM | The utility company account will be credited within 2 working days |
Note
Cut-Off time is based on United Arab Emirates time (GMT + 4)
Reduce your collection float, and accelerate your incoming cash flow.
