HSBC

Rules and regulations of HSBC to successfully process single and batch payments

Supported HSBC banks:

• HSBC Business
• HSBC Net
• HSBC Innovation
• HSBC Corporate

Please keep the following information in mind when using the accounts payable feature. If you are uncertain on some of the following information, you will need to reach out to your bank. This is only applicable to HSBC Business account owners.

• Daily transaction limit 

• Daily transaction amount limit

  • HSBC have a daily payment limit of £25,000 via online banking and £10,000 via mobile app.

  • This can be increased to a maximum of £100,000 via online with account manager approval

• Bank account type
  
  
• HSBC Business supports both scheduled and non-scheduled (faster payments) bulk payments.
• When making a payment to a new supplier they will ask for the last 4 digits of the account number

Please note that banks are not able to support multi-authentication for bulk pay runs using open banking. 

Additional Information:

• HSBC Net, Corporate and Innovation Banking accounts can only process single payments
  
  

How to cancel future dated payment:

• If you have created a BACS Batch Payment that has not entered the payment cycle. The payment enters the payment cycle at various times on Day 1 and debits your account and credits the beneficiary on Day 3. For example, if you create a payment on Monday to credit the beneficiary on Friday, the payment enters the cycle on Wednesday. Therefore you will need to cancel the batch on or before the Tuesday.

1. Navigate to the Manage payments tab

2. Select Pending payments ( you can choose to view or cancel a payment)

3. Click on the payment you want to cancel

4. Select 'Delete' and your scheduled payment should be cancelled