Your ISO 20022 migration guide
As we adopt the ISO 20022 standard, here’s everything you need to know about what’s changing across our digital banking channels.
As payment market infrastructures across the world continue to align to global ISO 20022 standards. we will be upgrading statements and reports to provide you with the enhanced data that ISO 20022 offers.
Understanding ISO 20022 enhanced statements and reports
Beginning in late 2024/early 2025, you will start to receive enhanced statement information for both incoming and outgoing high value payments. Enhanced statement details will be introduced to HSBC customers in phases.
Go to our ‘Timeline’ tab to learn when we’ll be rolling out these changes.
What this means for you
After the upgrade, the following information will be available in statement and reports:
A UETR will be shown in the last line of the narrative with the code word /UETR/. The UETR is generated by the sending bank and shows the unique reference used for payment identification, tracking and investigation purposes.
The new UETR will be available in HSBCnet’s Account Information, as well as the following reports:
| Channel | Report format |
|---|---|
|
HSBCnet and Global Information Reporting |
|
|
HSBC Connect |
|
|
Account Information API |
|
Full 35-character details for bank and customer references will be shown (where applicable and formats can accommodate).
Today, where no customer reference has been received, you will see NONREF. Going forward, you may also see NOTPROVIDED in the customer reference field. This will depend on how the transaction has been routed to us.
If you’re uploading this data to an ERP system, we recommend that you review this with your own IT specialists and update your systems, if needed.
The ‘Transaction details’ screen will be enhanced to show more payment data related to ISO transactions. To help with keep statements and reports as clear as possible, the new fields are dynamic and will only be displayed when there’s data to show.
Here are the payment fields that will be available in Account Information’s ‘Transaction details’ screen.
New ISO 20022 fields being introduced: |
|
|---|---|
UETR |
Payment information identification |
Credit debit indicator |
Transaction identification |
Initiating party name |
Initiating party postal address |
Initiating party BIC |
Initiating party LEI |
Initiating party country of residence |
Debtor BIC |
Debtor LEI |
Debtor country of residence |
Debtor account |
Debtor account name |
Instructing party name |
Instructing party address |
Instructing party corporate BIC |
Instructing party corporate LEI |
Instructing party country of residence |
Beneficiary BIC |
Beneficiary LEI |
Beneficiary country of residence |
Beneficiary agent name |
Beneficiary agent address |
Beneficiary agent BIC |
Beneficiary agent clearing system code |
Beneficiary agent clearing system proprietary |
Beneficiary agent LEI |
Beneficiary account |
Beneficiary account name |
Final beneficiary name |
Final beneficiary address |
Final beneficiary BIC |
Final beneficiary LEI |
Final beneficiary country of residence |
Instructing agent name |
Instructing agent postal address |
Instructing agent BICFI |
Instructing agent clearing system code |
Instructing agent clearing system proprietary |
Instructing agent LEI |
Instructed agent name |
Instructed agent postal address |
Instructed agent BICFI Bank |
Instructed agent clearing system code |
Instructed agent clearing system proprietary |
Instructed agent LEI |
Originating financial institution BIC |
Originating financial institution clearing system code |
Originating financial institution clearing system proprietary |
Originating financial institution LEI |
Creditor agent postal address |
Creditor agent BICFI |
Creditor agent clearing system code |
Creditor agent clearing system proprietary |
Creditor agent LEI |
Intermediary agent 1 BICFI |
Intermediary agent 1 clearing system code |
Intermediary agent 1 clearing system proprietary |
Intermediary agent 1 LEI |
Intermediary agent 2 name |
Intermediary agent 2 postal address |
Intermediary agent 2 BICFI |
Intermediary agent 2 clearing system code |
Intermediary agent 2 clearing system proprietary |
Intermediary agent 2 LEI |
Intermediary agent 3 name |
Intermediary agent 3 postal address |
Intermediary agent 3 BICFI |
Intermediary agent 3 clearing system code |
Intermediary agent 3 clearing system proprietary |
Intermediary agent 3 LEI |
Purpose code |
Purpose proprietary |
Remittance identification |
Remittance location details method |
Remittance location details electronic address |
Remittance location details postal address name |
Remittance location details postal address |
Remittance information |
Referred document type |
Referred document number |
Invoice amount to be paid |
Adjustment amount and reason |
Net amount to be paid |
Creditor reference type |
Creditor reference |
Additional remittance information |
Fields already available in statements and reports: |
|
|---|---|
Customer reference |
Bank reference |
Additional narrative |
Instructed currency and amount |
Value date |
Receiving bank charges |
Ordering bank charges |
Net currency and amount |
Original currency and amount |
Information for beneficiary |
Exchange rate |
Creditor agent name |
Debtor name |
Debtor postal address |
Beneficiary name |
Beneficiary address |
Originating financial institution name |
Originating financial institution address |
Intermediary agent 1 name |
Intermediary agent 1 postal address |
Bank to bank information |
Time stamp and mid-market rate |
Currently, we offer camt.052 and camt.053 version 2 statements which have limited information. The ISO 20022 payment infrastructure provides the capability to provide additional payment information in a more structured format (i.e. Structured Address and Ultimate Debtor/Creditor fields).
In the future, we will offer camt.052 and camt.053 version 8 statements, as well as camt.054 advices.
If you would like to receive these enhanced statements and advices, please reach out to your Client Services manager to learn more and obtain the specifications.
ISO 20022 enhanced statements and reports
As part of HSBC Thailand’s ISO 20022 adoption, statements and reports generated through HSBCnet and Global Information Reporting will be enhanced to better reflect the ISO 20022 XML standard. The improved information will be available for inter-account transfers, as well as domestic (RTGS Bahtnet) and international cross-border Priority Payments (Telegraphic Transfer).
What you need to do
If you use ERP systems or automated account reconciliation programs for your electronic statements, you may be impacted. The additional data fields (e.g. UETR) are optional and your systems may choose to disregard them.
Detailed changes to HSBC Thailand statements and reports
To help ensure the ongoing operation of your automated reconciliation processes, we recommend that you review these new narratives with your own IT specialists and, if necessary, make arrangements to update your systems.
Updated Collection Report (COL002) character limits
As part of this upgrade, we’re updating some character limits in the Collection Report (COL002) that’s available in HSBCnet’s Reports and Files Download service.
The character limits in the following fields will be extended:
Field name |
Current field length |
New field length |
|---|---|---|
|
Debtor name |
35 |
140 |
|
Unique transaction reference |
16 |
35 |
Note: we do not provide the UETR in the Collection Report (COL002) report.