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Incoming and outgoing payments fee reduction

From 1st December 2019, the standard fees for some transactions through UK, Channel Islands or Isle of Man accounts will be reduced. This change is in line with the price harmonisation proposed by EU Regulation 2019/518, also known as EU Cross Border Payments Regulation.

HSBC standard fees for sending International Payments in EUR and SEK* and CHAPS payments in GBP remain GBP17.00. Receiving will change to GBP0.00.

HSBC standard fees for sending SEPA Payments will be GBP0.24, and for receiving SEPA payments will be GBP0.20.

Negotiated tariffs below standard price remain unchanged and negotiated pricing (if any) above the standard price will be harmonised with the standard price.

*Sweden has opted for the Krona to be harmonised for the purposes of this Regulation.

Coming soon - Confirmation of Payee - Checking payments you will receive

Confirmation of Payee is a new service that helps protect against scams and mistaken payments by checking the name of a payee against the name held by the payee's bank.

From now on, when sending invoices or requesting a payment, be sure to provide the payment sender the full name we hold on your account and tell them it's a business account. This will help the payment sender avoid a message saying the name they entered doesn't match the details we hold for your account, which could result in delays to the payment while they contact you to check the details.

We will be introducing the checking of payments you want to make in the first half of 2020 and will provide further details of this closer to the time.

Security & Fraud Banner

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Fraud Alert – Business Email Compromise

What is Business Email Compromise?

A fraudster emails a company's payments team impersonating a contractor, supplier, creditor or even someone in senior management. The email might appear to be from the CEO, asking that an urgent payment be made, or from a supplier, requesting that future payments go to a new account. Often it instructs the recipient not to discuss the matter with anyone else.

Since the sender's email closely matches a known address, this type of fraud often goes unnoticed until too late. Cybercriminals may even hack into a real email account - from which fraudulent communications are hard to identify.

Remember,

  • If the request to make this payment has originated from an email, make sure you verify with the sender it was actually them via a different method (e.g phone them on a known number) before making the payment.
  • Make sure your payments team are aware of this type of fraud and what to look out for to protect your business from financial loss.
   

New Business Internet Banking (BIB) Users

HSBC UK Customer- Activate BIB online

HSBC Bank Customer- Activate BIB online

 

More Information

Existing users please note: To avoid deactivating your current device only select 'upgrade' if you have received a new device.

Find out more about your security device using our HSBC UK Customer- BIB Security Device Help Centre

HSBC Bank Customer- BIB Security Device Help Centre

Security Device