Moving to HSBC Innovation Banking

As part of transitioning to HSBC Innovation Banking, you will have access to new HSBC channels including HSBCnet.

Below is a detailed step-by-step guide of the activities you need to complete to support your upcoming transition.

Section 1: Things you need to do

Please refer to the ‘First Time Login to HSBCnet’ section below for guidance on what to expect when you first log into HSBCnet.

Section 2: Transitioning your Online Banking to HSBCnet

What has been moved with You – An Overview

• Company information
• Company-level payment approval settings
• User profiles - all SVB Online Banking users whose status is “enabled” and have access to SVB UK accounts in SVB Online Banking
• User permissions for the user profiles being moved
• Cumulative Daily Limit per userPayment templates that are in an ‘Approved’ status
• Beneficiary information
• Direct Debits

What has not been moved with You – An Overview

• User profiles that are in a ‘Pending’, ‘Modify Pending’, ‘Disabled’ or ‘Frozen’ status.
• User “Payment Initiation” limits are not supported within HSBCnet.
• User “Template-Based (Repetitive) Transaction Limits” and “Template-Based (Repetitive) Approval Limits” are not supported in HSBCnet.
• User permissions for Term Deposits and some Notice Accounts have not been moved with you. System Administrators will need to set up permissions for users on HSBCnet for Term Deposits and Notice Accounts.
• Payment approvals have been moved from a user level permissions model (“user-centric”) on SVB Online Banking to a group level permissions model (“rule-centric”) approach on HSBCnet where the signing rules govern the amounts that a user can authorise. During the move, we have created new approval groups within HSBCnet and assigned your SVB Online Banking users to relevant approval groups based on the permissions and approval limits they had on SVB Online Banking. System Administrators need to set the required signatory approval rules for each of the new groups directly in HSBCnet in order to complete set-up.
• Payment templates that are in a ‘Pending Approval’ status.
• If you require transaction activity and previous statements from your SVB UK accounts after your migration, please contact the UK Client Services Team on the details found within the Contact Us section.
• Recurring payments have not been moved to your new HSBC Innovation Banking accounts and need to be set up.
• Payment and transaction information for your SVB UK accounts will not be readily available within HSBCnet but can be obtained by reaching out to the UK Client Services Team on the details found within the Contact Us section.

I. Dual Administration Control

Dual Administration Control is an optional feature that can be turned on/off at a company level and is the equivalent to ‘Dual Administration’ within SVB Online Banking.

When Dual Administration Control is turned on, it means that the maintenance of HSBCnet profile settings (e.g. payment approval settings), as well as the maintenance of users (creation/modification/deletion) requires an approval by a second System Administrator before the change comes into effect.

In addition, Dual Administration Control means that if a System Administrator/User requests to reset their password, a System Administrator will be required to approve the request before the password can be reset.

Note: System Administrators will not have visibility of the password and can only authorise/reject the request.

II. Sole Transaction Control vs. Dual Transaction Control

Sole Transaction Control

If you had the ‘Approve Own’ functionality ‘Enabled’ in SVB Online Banking, we have migrated you to a Sole Transaction Control HSBCnet Profile. This allows an online User to act as both payment creator and payment approver. In your previous SVB UK onboarding, if you elected ‘Approve Own’ functionality, we have enabled the equivalent Sole Transaction Control in this migration to HSBCnet. If you would like to move to dual authority in HSBCnet, please contact us.

The Payment Authorisation Limit is set by default to £375,000 if your user profile has Sole Transaction Control enabled. This is a combined daily transaction limit for all your available services, e.g. Inter-account transfers, payments, Eurozone payments and Priority payments and the limit is in place to mitigate the risk of fraud.

Dual Transaction Control

If a company has Dual Transaction Control in place, a System Administrator will not be able to downgrade this to Sole Transaction Control within HSBCnet. If you need to turn off Dual Transaction Control at a company level, then you will be required to set up a new HSBCnet profile after your move. Please Contact Us for further information.

All User profiles that have permissions to UK domiciled accounts (Primary Administrator/Administrator/Users) and are in an ‘Enabled’ status had an equivalent user profile set up on HSBCnet. Users were moved to HSBCnet with the equivalent permissions and limits being provided to them.

More Information

What Has Been Moved With You

User’s approval permissions to an account and payment type mirror those mirror from SVB Online Banking.

Dual Administration is an optional feature on SVB Online Banking that is either ‘Enabled’ or ‘Disabled’ at a company level. This permission was mirrored and applied on HSBCnet.

What’s Changed?

User level “Template-Based (Repetitive) Transaction Limits”, “Free-Form (Non-Repetitive) Transaction Limits” and “Template-Based (Repetitive) Approval Limits” don’t exist on HSBCnet.

System Administrators can amend company level approval settings such as dual administration control, payment approval settings as well as User profile maintenance. For user administration, system admins can add, modify, and delete other Administrators and Users in Online Banking.

Terminology surrounding the user roles has changed. Please refer to the below table for further information.

Terminology Changes

The available options surrounding payment approvals have changed. The model has been moved from a user level permissions model (“user-centric”) on SVB Online Banking to a group level permissions model (“rule-centric”) approach on HSBCnet where the signing rules govern the amounts that a user can authorise.

We have created new approval groups within HSBCnet and assigned your SVB Online Banking users to relevant approval groups based on the permissions and approval limits they had on SVB Online Banking. System Administrators need to set the required signatory approval rules for each of the new groups directly in HSBCnet in order to complete set-up.

Please note this step must be completed prior to approving any payments.

More Information

There has been a change to terminology relating to the company-level payment permissions following the move to HSBCnet. Please review the table below for guidance.

Terminology Changes

What does this change mean?

SVB Online Banking had a user-centric model for approvals whereby each user had payment initiation and approval limits assigned but each user is still bound by the overarching company-level payment approval limits.

HSBCnet has a ‘rule-centric’ approach to payment approvals. Users have been assigned to ‘groups’ and the ‘groups’ have been assigned to certain rule conditions which make up a signing rule.

Example:

1. Fixed “company level” approval setting on SVB Online Banking application:

Condition:

• Company level setting: All Payment types require 2 levels of approval
• User 2 has an approval limit of 500,000
• User 3 has an approval limit of 500,000

Workflow:

• User 1 creates payment for 250,000
• User 2 with an approval entitlement assigned to their user profile provides 1st level of approval
• User 3 with an approval entitlement assigned to their user profile provides 2nd level of approval

1a. Equivalent approval model within HSBCnet

HSBCnet Condition:

1. Fixed level of approval on SVB Online Banking application:

• All Payment types require 2 levels of approval
• User 2 and User 3 assigned to approval Group A
• There is a signing rule defined that states that any 2 users from Group A (A+A) have an approval limit of 500,000

Workflow:

• User 1 creates payment for 250,000
• User 2 with approval entitlement and assigned to Group A provides 1st approval
• User 3 with approval entitlement and assigned to Group A provides 2nd approval

2. Variable “company level” level of approval on SVB Online Banking application:

Condition:

• Company level setting: All payment types between 1 and 100,000 require 1 approver
• Company level setting: All payment types between 100,001 and 200,000 require 2 approvers
• Company level setting: All payment types between 200,001 and 10,000,000 require 3 approvers
• User 2 and User 3 with an approval entitlement assigned to their user profile have an approval limit of 1 million each

Workflow:

• User creates payment for 500,000.00
• User 2 provides with an approval entitlement assigned to their user profile provides 1st approval
• User 3 provides with an approval entitlement assigned to their user profile provides 2nd approval
• User 4 provides with an approval entitlement assigned to their user profile provides 3RD approval

2a. Equivalent approval model within HSBCnet

HSBCnet Condition:

• The signing rules state that all Payment types require different approvals level-based amount
• User 2, 3, and 4 assigned to approval Group A
• There is a signing rule defined that states that any user from Group A (A) has an approval limit of up to 100,000
• There is a signing rule defined that states that any 2 users from Group A (A+A) have an approval limit of up to 200,000
• There is a signing rule defined that states that any 3 users from Group A (A+A+A) have an approval limit of up to 1 million

Workflow:

• User 1 creates payment for 500,000
• User 2 with approval entitlement provides 1st approval
• User 3 with approval entitlement provides 2nd approval
• User 4 with approval entitlement provides 3RD approval

For further information on how to set-up and amend payment authorisations, please refer to the help guide here:

A Profile Owner is the legal entity which has direct access to HSBCnet and is responsible for all HSBCnet activities.

An Account Holder does not have direct access to HSBCnet and instead authorises a Profile Owner (who could be, for example, a parent company) to act on its behalf via HSBCnet. Only the Profile Owner can view, access or initiate transactions in HSBCnet. The Account Holder indemnifies HSBC for the actions of the Profile Owner on its behalf in HSBCnet in accordance with the HSBC E-Channels Letter of Authority.

Any users and administrators in HSBCnet are users and administrators of the Profile Owner.

How do I tell if I am a Profile Owner or an Account Holder on HSBCnet?

If you were an SVB Online Banking Owner, you are deemed to be a Profile Owner in HSBCnet. For example, if you’re a parent company and you linked to your subsidiary group entities in SVB Online Banking, you are deemed to be a Profile Owner. You can also confirm if you were an SVB Online Banking Owner by contacting us.

If were not an SVB Online Banking Owner, you are deemed to be an Account Holder in HSBCnet, unless you tell us you wish to be a Profile Owner, or we otherwise notify you that you’re a Profile Owner. For example, if your accounts and services were linked to a parent company in SVB Online Banking, you are deemed to be an Account Holder.

All payment types that were available on your SVB UK accounts are also available on HSBCnet. However, you may notice that there are some changes to the payment cut-off times and terminology we use for payment types.

The cut-off times for submitting payments will differ when you move to HSBCnet.

Recurring Payments and Future-Dated Payments set up on SVB Online Banking have not been moved to your new HSBC Innovation Banking accounts and they will need to be set up via HSBCnet once your User profiles have been established.

Within the UK Services section of SVB Online Banking, users were able to initiate future-dated UK Payments and Same-Currency Cross Border Payments up to 366 days in advance. On HSBCnet, future-dated payments are available up to 45 calendar days in advance. However, please note that Faster Payments can’t be future-dated in HSBCnet.

Have there been any changes to CSV upload?

The way you import payment files from your back-end office systems into HSBCnet is different to how you used to do this in SVB UK Online Banking.

If your company had previously executed a CSV file import within the UK Services module of SVB Online Banking, you have been set up with an import profile on HSBCnet.

Import profiles for CSV files must be created by the bank on HSBCnet. If you do not have an import profile set-up on the new platform and require one, please contact us to have an import profile established.

For more information on CSV upload, please refer to this section.

If you need to begin using the CSV Upload service for the first time, please Contact Us.

Please note there is a new capability within HSBCnet that supports approval of file-based payments. This feature is called “File Level Authorisation (Detailed)”. If you have users that performed file import via SVB Online Banking, then we have automatically assigned this “File Level Authorization (Detailed)” entitlement to all of your users that have payment approval permissions.

There is also a daily cumulative file approval limit as well as individual file approval limit.

Since this feature did not exist on SVB Online Banking, we have set this limit as ZERO and therefore your company system administrators will need to amend this limit prior to utilisations of this file upload feature.

What changes you need to make

• You need to create a new file upload format which aligns with the dynamic CSV import specification provided for HSBCnet.
• Your new account numbers, as well as new transaction type codes, need to be added to this new CSV format in accordance with the File Upload Specification Guide.
• If you previously used CSV format to import SEPA Credit transfer payments, please be aware that this is not supported in HSBCnet. Instead, you’ll need to utilise ISO 20022 XML format.

Example Payment File [Download] (EXCEL,28KB)
HINV_HSBCnet File Upload Specification Guide [Download] (PDF,285KB)
HSBC Innovation Banking SEPA ISO Mapping [Download](EXCEL,39KB)

As these are new HSBC Innovation Banking accounts, you won’t have access to your SVB UK historic statements or transaction reports in HSBCnet. If you require these reports after your move to HSBCnet, please contact UK Client Services who can help you.

More information

HSBCnet supports a 7-year statement retention period. This 7-year period begins once your HSBC Innovation Banking accounts have been opened.

Both your UK and Cross Border Beneficiaries have been moved from SVB Online Banking to HSBCnet and can be found within the Beneficiaries section. You do not need to do anything. However, we recommend that you review your Beneficiaries once they have been set up in HSBCnet. As before, you’ll be able to continue to create, modify and delete UK Beneficiaries and Cross Border Beneficiaries for payment initiation.

More information

The UK Services section within SVB UK’s Online Banking portal held two Beneficiary lists, one for UK Beneficiaries and one for Cross Border Beneficiaries. On HSBCnet, UK and Cross Border beneficiary lists will be consolidated into one list for easier beneficiary management.

• Due to different length and uniqueness requirements between SVB’s Beneficiary Record Nickname and HSBCnet Beneficiary Record Name a decision was reached to use SVB’s system generated and unique Beneficiary ID – “BID” as HSBCnet Beneficiary record name, and Beneficiary Nickname listed as a ‘Note for payment creator.’
  

  SVB Online Banking	HSBCnet
  Beneficiary Nickname	Bene record name
  35 long	16 long
  Not unique per profile	Unique per profile

   

• Any special characters found in payments data i.e. Beneficiary name was replaced with a space.
• Incorrect length or format of accounts / sort codes in beneficiary records would have resulted in the record being skipped.
• Incorrect length of beneficiary name was truncated and record saved.
• In HSBCnet UK Beneficiary Management there are two Beneficiary Name fields. One for payments based on SWIFT standards – 35 character long, one based on BACS format – 18 character long.

To consume beneficiary during creation of a BACS payment the latter must be populated. When migrating data from SVB’s UKMasterBene to HSBCnet UK BM, Beneficiary name was populated in both fields, with caveat names longer than 18 characters truncated in Beneficiary Name field for BACS.

Any payment templates listed as being in a ‘Pending Approval’ status on either the UK Templates List or the Cross Border Templates List have not been moved to HSBCnet.

More information

HSBC offer two types of payment templates, General Templates and Restricted Templates. All templates in an ‘Approved’ status within UK Services on SVB Online Banking have been moved to HSBCnet and listed as Restricted Templates.

Terminology Changes

• The fields for ‘maximum payment amount’ and ‘currency’ are not supported by HSBCnet and hence these values will not be applied to the new templates.
• “Many to One” and “One to Many” templates are not offered by HSBCnet, these templates will be migrated as individual templates. See example below.

SVB’s: “One to Many”

A template named ‘TEST’ that works as follows:

Example: Debit account A = Credit account B, Credit account C

Will be moved on a one-to-one basis as outlined below.

HSBCnet: “One to One”

The same template will now become two separate templates that work as follows:

Example 1: ‘TEST_1’: Debit account A = Credit account B,
Example 2: ‘TEST_2’: Debit account A = Credit account C.

You can see from the above example that the initial name will be used in each of the one-to-one templates with “ _” and then the sequence number immediately following so that the templates can be identified as having originated from the same “One to Many” template.

• Due to different length and uniqueness requirements between SVB’s Template Name and HSBCnet Template ID a decision was reached to use SVB’s unique and system generated Template ID (“TID”) as HSBCnet Template ID and SVB’s Template Name as HSBCnet Template description.
  

  SVB Online Banking	HSBCnet
  Template Name	Template ID
  35 long	16 long
  Not unique per profile	Unique per profile

   

• If any field length in SVB template is longer than corresponding field in HSBCnet template, then the field value would be truncated during migration. Such templates where truncation has been done on any field would be kept in pending authorisation status.

Active GBP Direct Debits on your former SVB UK accounts have been automatically transferred to your new HSBC Innovation Banking accounts. A list of your direct debits can be found in the Standing Orders and Direct Debits module of HSBCnet and we would recommend that the list be reviewed once your access to has been established.

If you paid your SVB UK Business Charge Card or Virtual Card balance by Direct Debit from one of your HSBC Innovation Banking accounts, your Direct Debits have been redirected using your updated bank account details and we’ll continue to collect your bill payments from that account. Please check your statement as you normally do, for your payment due date. If you use both Charge and Virtual Cards, they’ll each be billed separately.

Any other Direct Debits including those listed in UK Services that were in a ‘Cancelled’ status have not been moved to HSBCnet and will not be listed on your new Online Banking Platform.

From close of business on 4 August 2023, we no longer offer the SEPA Direct Debit B2B service and we aren’t able to accept any SEPA Direct Debit B2B payments with value dates that take place after then. We’ll reject any SEPA payments sent or received with a value date after 4 August 2023 using your old SVB UK account details.

The SEPA Direct Debit Core scheme will still be available for your HSBC Innovation Banking accounts, but there will be new International Bank Account Numbers (IBANs) as well as a new SWIFT BIC. You’ll need to provide these to any creditors that collect from your EUR accounts.

Alerts on HSBCnet are received via emails and SMS messages to mobile numbers listed on HSBCnet user profiles, as well as on users’ Alerts Panel and Alerts Inbox at the top of HSBCnet screens.

Account balance notification alerts are not available on HSBCnet. Instead, the Alerts service on HSBCnet allows you to create scheduled alerts and assign recipients who will receive them upon the occurrence of specific HSBCnet events. Users can receive alerts for the following HSBCnet services categories:

• Account Information
• File Upload
• Message Centre
• Payments
• User and account management
• Alias management

User permissions for Term Deposits have not been moved with you. System Administrators need to set up permissions for users on HSBCnet for Term Deposits.

User permissions for some Notice Accounts have not been moved with you. System Administrators need to set up permissions for users on HSBCnet for Notice Accounts.

When will my User profile be set-up on HSBCnet?

All Online Banking Primary Administrator/Administrators/Users who had permissions to SVB UK accounts and whose profile was in an ‘Enabled’ status had an equivalent User profile set up in HSBCnet.

User profiles were set up throughout July and Users were notified that their profile has been set up when they received a ‘Welcome Email’ from HSBCnetglobalsupport@hsbc.com or alert@info.HSBCnet.com

System Administrators/Users are required to use biometric authentication for some journeys within HSBCnet, including log on and payment approvals. Because of this, the System Administrators/Users are required to download the mobile app.

For more information on the mobile app, please refer to the dedicated HSBCnet Mobile App page here.

What do I do once I receive my Welcome Email?

The Welcome Email you received contained a temporary Username which is based off your SVB Online Banking User ID as well as instructions for registering your user profile which will include creating a password and setting your security questions.

What security device do I need to login to HSBCnet?

Once you have downloaded the HSBCnet app, you will be able to use your Mobile device as your authentication token to logon.

However, if your mobile number is registered to a country which is not outlined in the Service availability section https://www.HSBCnet.com/mobile, we have sent you a security device to perform your logon authentication.

Where we did not have a mobile number on file (e.g. we only have a landline number), we would have sent you a security device to perform your authentication.

If you need to update your phone number in HSBCnet after you have initially logged in, please contact your System Administrator to update directly in HSBCnet.

Where do I go to for help?

For further information surrounding the activation of your HSBCnet profile and the initial login journey, please refer to the guide here ‘How do I activate my HSBCnet profile with my temporary username and mobile device?’.

For additional login support, please refer to the ‘Logging on to HSBCnet’ support page or Contact Us for further assistance. Please note, the ‘Welcome Email’ sent to System Administrators/Users confirming the set-up of their profile on HSBCnet contained contact details for HSBC, however, please disregard this and continue to contact the HSBC Innovation Banking UK Client Services Team for tailored support.

The HSBC App offers enhanced functionality for your mobile device with direct access to your HSBCnet services anytime, anywhere.

Use the HSBCnet Mobile App to:

• View account balances and recent transactions
• Create Priority Payments and Inter-Account Transfers to existing beneficiaries ¹
• Track the status of your payments
• Authorise Priority Payments, Payments in the Eurozone, Inter-Account Transfers, ACH Credits/Debits and File Level payment instructions ¹
• Manage Receivable Finance services covering Account Information, Draw Payments and Recent Transaction History ¹
• See an overview of our liquidity positions with the Liquidity Dashboard ²
• Receive notification of payments ready for authorisation via My Alerts
• Authorise cross-border payments and preview foreign exchange rates with Get Rate ¹
• Preview foreign exchange rates ahead of making payments
• Set up and receive automated notifications
• Use Mobile device as your authentication token to login ³

¹ Specific services not available in all countries/regions. When you log on to the HSBCnet Mobile app, only those services that are enabled in your country/region may be visible. Any related transaction limits and permissions are the same as when using the main HSBCnet.com site.

² Any related permissions are the same as when using the main HSBCnet.com site.

³ If we did not have a valid mobile number on file or your mobile number is registered to a country which is not supported by HSBCnet, a security device has been sent to your company’s address for you to perform your logon authentication.

We are now able to offer Confirmation of Payee for both inbound and outbound UK based payments (Faster Payments and CHAPS). Confirmation of Payee is a name checking service that helps to make sure the account payments are being sent to is the correct account).

When you make a one-off payment, set up a new regular payment or amend an existing payment, CoP lets you check you’re paying the right person or business. That way, you can see if the name matches the details you've been told.

CoP will automatically check your details when a person or business sends you a payment to see if your name matches your account.

Some institutions require a specific reference number to be entered when making a payment. CoP will also check the details to help ensure you're paying the correct account. Examples where this may be required include:

• A roll number for some building society accounts
• A 16-digit credit card number when paying a credit card bill

For these accounts, when you enter a sort code and account number, CoP will use the reference to ensure the account name is correct. If the details entered in the reference box are invalid or not recognised by the receiving payee Bank, you'll be informed and asked to check the details.

You must ensure that you insert the account holder’s name into the payee box instead of the institution name to allow the check to perform correctly. If you enter the incorrect name, you will get a no match. Check with the person or business who is receiving the money to get the correct details.

Not all payment service providers will enable CoP checks on accounts that require a reference. If you're paying one of those accounts, you'll get a message saying we can’t check the details.

HSBCnet offers a ‘Track Payments’ feature which allows entitled users to have more control and visibility of each step of your payments journey saving you time and making your day-to-day work quick and easy.

This new feature lets you:

View your payment activity at a glance
See your recent payment activity up front – highlight any payments that you want to focus your attention on. Payment status information is available for payments made within the last 35 days and those dated up to 45 days in the future.

Use the ‘Payment details’ screen to track a payment’s progress
Select a payment from the list and quickly see how far your payment has progressed. The ‘Payment details’ screen provides information including:

• what’s happening now
• what will happen next
• what’s already completed, including status updates driven by SWIFT GPI (an industry initiative set to be the new standard in fast, transparent tracking of cross-border payments) from the intermediary and beneficiary banks

Quickly determine if any payments require further action
A payment highlighted in yellow or red indicates that you may be required to take action to continue processing your payment.

Save time with the ‘Search’ function
Customise your display and find specific payments quickly using the ‘Search’ and ‘Filter’ features.

HSBCnet’s Virtual Assistant provides immediate online information and assistance to help you make the most of your HSBCnet experience.

What is Virtual Assistant?

Virtual Assistant is our always-on chatbot, which will answer any frequently asked HSBCnet-related questions. Questions have been grouped into categories to help you and you’ll also get link to additional information, if needed.

How do I use Virtual Assistant?

To open the Virtual Assistant, select the ‘Need help?’ link from the right-hand side of any HSBCnet page to open Virtual Assistant.

If your company was previously set up with our Transact Gateway Service, then you will need to take steps to move to HSBC’s equivalent platform, HSBC Connect. This is part of your transition from SVB UK to HSBC Innovation Banking.

Please read the following information carefully on what you need to do.

1. Secure connection changes

   There will be differences in the way you secure your connection with us.

   1. IP addresses

      • You will need to whitelist the following IP addresses on your firewall to ensure you are able to receive files:

        • HSBC TEST IPs -- 91.214.5.220 and 193.108.76.220 / 91.214.5.175 and 193.108.76.175

        • HSBC PROD IPs -- 91.214.5.221 and 193.108.76.221 / 91.214.5.174 and 193.108.76.174

   2. Authentication method:

   • SVB UK Transact Gateway allowed two options to create a secure SFTP connection

     • Multi-factor authentication (i.e., Username + password + SSH keys)

     • SSH authentication (i.e., Username + SSH keys)

   • HSBC Connect does not support multi-factor authentication, so if you are using this method you will have to connect via the other option

   • As part of your HSBC Connect set up, you’ll need to establish new SSH keys and provide us with your public key. Likewise, we’ll need to send you our public key. Note that the keys you were using with SVB UK Transact Gateway are not supported for connections to HSBC.

   • Your keys must meet the following specifications:

     • Format: OpenSSH or SecSSH

     • Key Algorithm: RSA

     • Key size: 2048 or 4096

     • Key type: SSH-RSA and SSH-DSS

     • Version: SSH version 2

     • Expiry Date: N/A

1. Reporting format changes

   There will be changes to the formatting of the reports you receive from Global Information Reporting via HSBC Connect, meaning the information contained in some of the statement fields will be slightly different.

   You can find the new HSBC Global Information Reporting specifications here.

   CSV IR Specs (PDF,260KB)
   BAI2 IR Specs (PDF,1.30MB)
   XML camt 053 IR Specs (PDF,1.77MB)
   XML camt 052 IR Specs (PDF,1.55MB)
   MT942 IR Specs (PDF,100KB)
   MT940 IR Specs (PDF,143KB)

You’ll need to make any necessary changes to your systems, so they are able to consume the messages in the new format.

Note that one of the formatting changes are new transaction type codes. Below are details of the mapping between the payment types and HSBC Connect codes.

HSBC Connect transaction codes

Payment type	MT940/942	CSV	BAI2	XML
BACS Debit	NACH	BACS	452	PMNT   RCDT     AREV
BACS Credit	NACH	BACS	142	PMNT   RCDT     AREV
Faster Payment Debit	NFPS	FBP	961	PMNT   ICDT ADBT
Faster Payment Credit	NFPS	FBP	399	PMNT   RCDT     RRTN
SEPA Credit Transfer Debit	NSCT	SCT	469	PMNT   ICDT      ESCT
SEPA Credit Transfer Credit	NSCT	SCT	169	PMNT   RCDT     ESCT
CHAPS Debit	NTRF	TT	495	PMNT   MDOP   OTHR
CHAPS Credit	NTRF	TT	195	PMNT   MDOP   OTHR
Cross Border Debit	NTRF	TT	495	PMNT   MDOP   OTHR
Cross Border Credit	NTRF	TT	195	PMNT   MDOP   OTHR

1. Available formats

   The XML (pain.001) and Bacs Standard 18 (Bacs only) formats are supported for you to submit payments files.

   MT103 and CSV are not supported via HSBC Connect. If you are currently using them, you will have to change to XML (pain.001) or Bacs Standard 18 (Bacs only).

2. File specifications

   You will have to make some changes to the formatting of the files you send us via HSBC Connect, to ensure they are processed automatically. Please refer to the following specification documents for details of the new requirements.

   XML (pain.001):
   XMLv3 UK Priority Payment guide (PDF,257KB)
   XMLv3 UK Faster Payment guide (PDF,1.25MB)
   XMLv3 UK BACs Credit guide (PDF,211KB)
   XMLv3 UK SEPA Credit Transfer guide (PDF,847KB)

   Bacs Standard 18 (Bacs only):
   Bacs standard 18 MIG - Feb 2022 (PDF,425KB)

3. Clients submitting Bacs payments

   If you want to submit Bacs payments and do not have a Bacs Service User Number (SUN), you will need to apply for a SUN and submit using the Bacs Standard 18 or XML formats via HSBC Connect, including your SUN within the files. Our Product Implementation Team can assist you with this process.

4. Payment approvals

   HSBC Connect does not have a graphical user interface, therefore it is not possible to approve payments in the same way you might have been doing via Transact Gateway.

   If you require payment approvals, going forward these will be done via HSBCnet, our new online banking platform.

   Note payment approvals will only be available for payments submitted in the XML format.

If you used SWIFT Information Reporting messages (known as MT940s and MT942s), they have been set up on your new HSBC Innovation Banking accounts to go to the same SWIFT BICs you already receive them at, but they will be sent from the HSBC BIC rather than the SVB UK BIC.

You’ll need to provide your new account details to anyone who receives the SWIFT messages and let them know that the messages will be coming from the HSBC BIC MIDLGB22BHX.

Whilst these messages are an industry standard format, you will see some differences in transaction narratives. Also, field 25 will include your 6-digit sort code followed by your 8 digit account number.

The below table details the transaction codes used within field 61 of the SWIFT messages.

If you currently use third party apps, such as accounting software, to access your account data or to submit payments through our Open Banking APIs then you’ll need to establish these connections again from your HSBC Innovation Banking accounts.

Your existing authority, known as your consent, to access your account data will not be transferred to your HSBC Innovation Banking account, so to ensure the data for your HSBC Innovation Banking accounts automatically feeds into the third party app you are using you will need to add your new accounts from within the third party app. You can do this from Monday 7th August – please see section below for details on how to do this.

For Account Information Services you can add your accounts by following the below instructions:

1. From within the third-party app follow the process to add a bank account
2. When prompted to select your bank, you must choose HSBCnet UK or HSBC Corporate UK (this depends on your third party)
3. You will then be redirected to HSBCnet so you can log in using your new credentials
4. You will then be asked to confirm which accounts you want to allow access for. Note – you will only be able to select accounts that you are entitled to within HSBCnet
5. You will then be redirected back to the third party app and they will now be able to automatically access your account data

Below are links to pages detailing how to add a bank account feed for some commonly used accounting software:

Xero:
https://central.xero.com/s/article/Add-a-bank-account-or-credit-card-account-UK#Addabankaccount

Netsuite:
https://docs.oracle.com/en/cloud/saas/netsuite/ns-online-help/section_159823071345.html

Quickbooks:
https://quickbooks.intuit.com/learn-support/en-us/help-article/banking/connect-bank-credit-card-accounts-quickbooks/L4yDAHMNH_US_en_US?uid=l6p295tn

Comma:
https://help.usecomma.com/en/articles/5733834-how-to-connect-a-bank-account

To send payments from your new accounts using Payment Initiation Service you will need to follow the third-party provider’s instructions from within their app:

1. When prompted to select your bank, you must choose HSBCnet UK or HSBC Corporate UK (this depends on your third party)
2. You will then be redirected to HSBCnet so you can log in using your new credentials
3. You will then be asked to confirm the payment details. Note – you will only be able to send payments from accounts that you have payment entitlements to within HSBCnet
4. You will then be redirected back to the third-party app

Yes. Any existing SVB UK consents will still be active and your account information will still automatically feed until the SVB UK accounts are closed.

Once your SVB UK account is closed, the third party will no longer have access to the data for your account and your consent for them to access the account will be cancelled. The third party should be able to display any historic account transaction and balance information that they have previously received.

They will continue to be active until the SVB UK accounts are closed, at which point they will be cancelled and any third party providers will no longer have access to Account Information Services from that point. You will not have to take any action.

It would vary depending on which third party app you were using. You will need to speak to the third party app provider to determine what the impact would be.

If you face any issues when trying to connect your HSBC Innovation Banking accounts to third parties, please ask your third party to contact the HSBC Open Banking Helpdesk.

If you are currently using the SVB OFX information reporting feed directly into your accounting software, such as Xero, this will not be supported on your HSBC Innovation Banking accounts. You will need to set up a new automatic feed using the HSBCnet Open Banking APIs.

For details on how to do this please refer to the Open Banking APIs page mentioned above.

The way you import payment files from your back-end office systems into HSBCnet will be different to how you currently do this in SVB UK Online Banking.

How’s it changing?

SVB UK Online Banking allows you to create import profiles to initiate multiple payments from a single file. In HSBCnet, you’ll no longer be required to create import profiles, but when importing CSV files, they’ll need to match a pre-defined dynamic CSV import specification.

• You’ll need to create a new file upload format which aligns with the dynamic CSV import specification provided for HSBCnet.
• Your new account numbers, as well as new transaction type codes, will need to be added to this new CSV format in accordance with the File Upload Specification Guide.
• If you currently use CSV format to import SEPA Credit transfer payments, please be aware that this will no longer be supported in HSBCnet. Instead, you’ll need to utilise ISO 20022 XML format.

Example Payment File [Download] (EXCEL,33KB)
HINV_HSBCnet File Upload Specification Guide [Download] (PDF,1MB)
HSBC Innovation Banking SEPA ISO Mapping [Download](EXCEL,39KB)