Regulatory Disclosures

At HSBC, we want to make sure that you get the service which you, our valued customer, deserve. As part of our service, we consider it important to keep our customers informed about banking policies and fair practice codes adopted by HSBC.

Please feel free to contact us in case of any queries on these.

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Fair Practice Code for Credit Card Operations

All application forms for loans and/or facility advice letters, as applicable will contain the following:

• The fees / charges payable for processing;
• The amount of fees / charges refundable if the application is not considered
• The pre-payment options
• Any other matter which affects the interests of the borrower.

All loan applications accepted for processing shall be duly acknowledged. However, in case of corporate banking, where credit proposals are initiated based on detailed discussions with the customer, the process of application / acknowledgment may not be followed. In case of loan applications up to ₹2 lakhs, the acknowledgement will also indicate the period within which the application will be disposed off.

The Bank will verify the loan applications received within a reasonable period of time and if additional details / documents are required, the same will be intimated to the borrowers within such reasonable period of time.

All rejection of loan applications received will be conveyed in writing giving the main reasons for rejection of the loan application, within the stipulated time.

Bank will ensure proper assessment of loan application in accordance with the Bank’s credit policies and procedures The Bank will not use margin and security stipulations as a substitute for due diligence on credit worthiness of the borrower.

After assessment of the request, the Bank will convey to the borrower the credit limit along with the terms and conditions thereof.

The borrower’s acceptance of the applicable terms and conditions will be maintained on record.

Terms and conditions and other caveats governing credit facilities if arrived at after negotiation with the borrower will be reduced in writing and duly certified by the authorised official. A copy of the loan agreement along with a copy each of all enclosures quoted in the loan agreement will be furnished to all borrowers.

In the case of consortium lending the procedure for appraisal, sanction or rejection will be done in consultation with the participating members.

The Bank shall ensure timely disbursement of loans sanctioned in conformity with the terms and conditions governing such sanction. The Bank shall give reasonable notice of any change in terms and conditions including interest rate, service charges etc. Bank shall ensure that changes in interest rates and charges are only effected prospectively.

Post-disbursement supervision will be conducted in accordance with normal banking practice, the applicable terms and conditions and the extant guidelines issued by the Reserve Bank of India. The Post disbursement supervision in respect of loans up to ₹2 lakhs will, as far as possible, be aimed at resolving any customer service issues that the borrower may face.

Before taking a decision to recall of any advance or accelerating repayment thereof or demanding additional security, the Bank will give notice to the borrower as stipulated in the Loan Agreement or a reasonable period if no such condition exists in the loan agreement.

The Bank will release all securities on receiving payment of loan or realization of loan subject to any legitimate right or lien for any other claim that the Bank may have against the borrower. If such a right of set-off is to be exercised, the borrower shall be given notice about the same with full particulars about the remaining claims and the documents under which the Bank is entitled to retain the securities till the relevant claim is settled/paid.

The Bank will not interfere in the affairs of the borrower except for what is provided in the terms and conditions of the loan agreement (unless new information, not earlier disclosed by the borrower, has come to the notice of the Bank).

No discrimination will be made in respect of granting facilities, on the grounds of sex, caste and religion. However, this does not preclude the Bank from participating in credit-linked schemes framed for weaker sections of the society.

In respect of recovery of outstanding dues, the Bank shall act in accordance with its policy on collection of dues and repossession of security.

In case of receipt of request for transfer of borrowable account, either from the borrower, which proposes to take-over the account, the consent or otherwise i.e, objection of the Bank, if any, should be conveyed within 21 days from the date of receipt of request.

All disputes in respect of the Bank’s actions/decisions concerning loans and advances, shall be dealt with in accordance with the grievance redressal procedure of the Bank.

Any person who contravenes any provision of FEMA, 1999, or any rule, regulation, notification, direction or order issued in exercise of the powers under this Act, or contravenes any condition subject to which an authorization is issued by the Reserve Bank, he shall, upon adjudication, be liable to a penalty upto the amount as prescribed under the law.

For more details, click here.

RTGS / NEFT facility using HSBC Personal Internet and Mobile banking is now available round the clock! All online transfer requests will be processed on the same day.

Any future dated or recurring transfer requests to an account outside HSBC using NEFT/RTGS will be processed at approx. 01:00 AM on your requested day. Any Future dated or recurring transfer requests within HSBC accounts will be processed approx. at 07:30 AM on your requested day and if the request day falls on a non-working day, will be processed on the following working day. We request you to take note of this and maintain sufficient account balance for a successful transfer.

Monday to Saturday - During working hours - Click here to know the branch timings.

In order to make your banking experience with us a safe and secure one, we would like to emphasise the following: 

Please do not share your personal and/or confidential information with any unauthorised individual or in any public domain such as blogs, forums, social network sites and other media. Personal information refers to your account number (for example: Savings Account, Loan Account or Credit Card Account), date of birth, address, mother's maiden name, card expiry date, contact details or email ids. Confidential information includes Internet Banking password, PINs (ATM, Debit Card, Credit card, Phone banking) or Credit Card CVV numbers etc. Such confidential information is not requested from the Bank in any communication. In case of any suspicion, please contact the Bank immediately. 

Please note that the Bank will be not be liable for any loss due to the disclosure of personal or confidential information in public forums or to unauthorised individuals. 

Further, Reserve Bank of India (RBI) has also clarified vide Press Release dated 5 April 2011, that RBI never issues communication asking for bank account details for any purpose. RBI has appealed to members of public not to respond to such mails and not to share their bank account details with anyone for any purpose. 

Our endeavor is to safeguard your interest and to ensure a safe and convenient banking experience for you. Discover what the Bank does to protect your Online Internet Banking and what steps you can personally take to improve your online security.

Reserve Bank of India vide its A.P. (DIR Series) Circular No. 02 dated 15 July 2011 have highlighted that some foreign entities who have established Liaison Offices (LO) or Branch Offices (BO) in India prior to 1 June 2000 under erstwhile Foreign Exchange Regulation Act 1973 or under Government of India approval have continued their functions without obtaining permission from RBI. Further RBI vide said circular has requested such entities to approach them within a period of 90 days from the date of issue of the said circular to obtain RBI permission. All such applications, in form FNC, should be addressed to the Chief General Manager-in-Charge, Reserve Bank of India, Foreign Exchange Department, Foreign Investment Division, Fort, Mumbai 400 001 and routed through respective AD Category - I Bank where LO/BO account is maintained.

Reserve Bank of India vide its circular no. DOC/2011-12/191 DPSS. O.PD.No.497/02.12.004/2011-12 issued on 21 September 2011 have highlighted that section 25 of the Payment and Settlement Systems Act, 2007 accords the same rights and remedies to the payee (beneficiary) against dishonour of electronic funds transfer instructions for insufficiency of funds in the account of the payer (remitter), as are available to the payee under section 138 of the Negotiable Instruments Act, 1881.

The sub-section (5) of the section 25 of the Payment and Settlement Systems Act, 2007 provides for punishment of two years and twice the amount of electronic funds transfer instruction, or both for dishonour of such electronic funds transfer on par with the penalties stipulated for dishonour of cheques under the Negotiable Instruments Act, 1881.

This information is published to boost the confidence of customers in electronic payments by allaying any apprehensions on the rights and remedies available to payees against dishonour of electronic funds transfer instructions.

Reserve Bank of India (RBI) has issued an advisory cautioning customers and banks about fraudulent offers, lottery winnings and cheap funds offers. Members of public have also been cautioned against making any remittance towards participation in such schemes/offers from unknown entities since such remittances are illegal and any resident in India collecting and effecting/remitting such payments directly/indirectly outside India is liable to be proceeded against for contravention of the Foreign Exchange Management Act, 1999. They are also liable for violation of regulations relating to Know Your Customer (KYC) norms/Anti Money Laundering (AML) standards.

Please note that basis Goods and Services Tax (GST) regulations and notified GST rates, Central GST, State/Union Territory GST, or Inter-State GST, as applicable, and Cess as applicable would apply on our fees and charges.

The transaction value for forex conversion services is calculated based on the slabs given below:

Issued by The Hongkong and Shanghai Banking Corporation Limited, India. Incorporated in Hong Kong SAR with limited liability.

Sr No State HSBC's GSTN Number

1 Maharashtra 27AAACT2786P1ZN

2 West Bengal 19AAACT2786P1ZK

3 Tamil Nadu 33AAACT2786P1ZU

4 Delhi 07AAACT2786P1ZP

5 Haryana 06AAACT2786P1ZR

6 Chandigarh 04AAACT2786P1ZV

7 Rajasthan 08AAACT2786P1ZN

8 Telangana 36AAACT2786P1ZO

9 Karnataka 29AAACT2786P1ZJ

10 Kerala 32AAACT2786P1ZW

11 Gujarat 24AAACT2786P1ZT

12 Uttar Pradesh 09AAACT2786P1ZL

"HSBC is a member of Banking Codes and Standards Board of India (BCSBI). The 'Code of Bank's Commitment to Customers' as at January 2018 and the 'Code of Bank's Commitment to Micro and Small Enterprises' as at August 2015, released by the BCSBI, are displayed below. Both the Codes have been adopted and implemented by the Bank.

Please click on the preferred language given below to download the code:

The Cheque Truncation System (CTS) facilitates image-based processing and clearing of cheques between banks. As per the recent mandate from Reserve Bank of India (RBI), the CTS system is being expanded in a phased manner along with a Grid-based Cheque Truncation System covering several states and union territories.

Under grid-based CTS clearing, all cheques drawn on bank branches falling in the grid jurisdiction are treated and cleared as local cheques on T+1 basis. Accordingly, processing of the cheques is expected to be conducted at a central location with the grid viz., Chennai for Southern India (SI) grid, Mumbai for Western India (WI) grid and Delhi for Northern India (NI) grid.

As a result, there could be instances wherein, cheque issued by you could be debited from your account on a day which is a holiday in your city as the central processing location will be working. Outstation cheques deposited and payable at any of the cities mentioned in the table below can be presented as local clearing cheques through CTS, resulting in faster cheque realisation, if the drawee bank is participating in CTS within the grid.

Kindly ensure that you maintain adequate balance in the account prior to the issue of cheque to avoid cheque return for insufficient funds.

Please note that as per Reserve Bank of India (RBI) guidelines, cheques not compliant under the Cheque Truncation System 2010 standard (CTS), if presented in clearing between 1st January 2014 and 30th April 2014 will be cleared only thrice a week. Thereafter, this clearing will be twice a week up to 31st October 2014. From 01st November 2014, such cheques will be cleared only once a week. To avoid delays in cheque clearance please ensure that you issue/deposit CTS compliant cheques (i.e cheques with CTS INDIA watermark)

Do use Internet Banking or call HSBC India Phonebanking or visit your nearest HSBC branch in India to request for a CTS compliant cheque book in case you do not have one.

HSBC received alerts from cautious customers about some fraudulent approaches from individuals stating that they should invest in PPP (Private Placement Programs) schemes whereby an exceptional amount of returns are guaranteed within an extremely short tenure. This is in the form of High Yielding Investment Programmes / Financial Instruments, examples of which are as under

The Scheme talks about offering 300% returns to HSBC Bank customers over a short period of time through pledging of Fixed Deposit (FDs). The amount will be utilized in high return instruments by the operator. The FDs should be above ₹50 Crores.

Funds in excess of ₹50 Crores needs to be transferred to the mentioned account, This will be pledged against, SBLC issued favoring other customers. This scheme assures high returns to investors.

Kindly record details of individuals, companies & any available documentation of a suspect proposal pertaining to PPP schemes wherein you have been approached for investments in these schemes / routing of such funds through HSBC accounts.

Since such schemes are fraud prone do not invest in such schemes and contact your Relationship Managers / HSBC branch staff for guidance immediately.

Few instances of customers' receiving an e-mail using the name of Indian Banks' Association (IBA) have been noticed.

The e-mail provides links to various member banks of IBA. Customers are asked to click on their respective bank link and update their profile by providing confidential account information. This email also carries a threatening message, stating if the customer fails to update the details, the online banking facility would be terminated.

If you happen to receive any such emails then please do not respond to the email and inform your bank immediately on the Phonebanking numbers

To learn more about online security, visit the internet and self service banking page on the HSBC website.

NSDL has directed all the Depository Participants (DPs) to obtain copies of the Permanent Account Number (PAN) Card as a compulsory document for all categories of Demat account holders [including resident account holders, minors, trusts, foreign corporate bodies, banks, corporates, FIIs and NRIs].

As you are aware, the demat accounts for which PAN details have not been verified are ""suspended for debit"" until the same is verified with the Depository Participant (DP).

In order to ensure better compliance with the Know Your Client (KYC) norms it has been decided that with effect from August 16, 2010 such PAN non-compliant demat accounts shall also be ""suspended for credit"" other than the credits arising out of automatic corporate actions. It is clarified that other credits including credits from IPO/FPO/Rights issue, off-market transactions or any secondary market transactions shall not be allowed into such accounts.

In view of the above guidelines, all Retail Demat Account Holders are requested to submit a self-attested copy of their PAN card [and of joint account holders in case of joint accounts] to the Demat Service Desk at any HSBC India Branch convenient to you.

Please ensure the following:

• Mention the correct client ID on each copy of PAN Card.
• In case you have multiple Retail Demat accounts, kindly get a separate self-attested copy of your PAN card for each account.
• The PAN copies are NOT to be posted / couriered to the branch. NSDL instructions require that the PAN copy be submitted after being attested against the original by a Branch Official. Hence, you are requested to carry the original PAN Card along with the copies.
• Please ensure that you are able to meet these requirements at the earliest. In case you have already submitted a copy of PAN card for your Retail Demat account, kindly ignore this message.
• In case you seek any further clarifications, you may reach our to the Demat Service desk at any of the HSBC India branches convenient to you.

Reserve Bank of India (RBI) vide its Press Release dated December 5, 2017 has reiterated cautions regarding risk of virtual currencies including Bitcoins.

RBI has cautioned users, holders and traders of Virtual Currencies (VCs) including Bitcoins regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with such VCs.

RBI has also clarified that it has not given any licence/authorization to any entity/company to operate such schemes or deal with Bitcoin or any VCs.

We reiterate the concern as per the RBI press release.

As you may be aware that trading in foreign exchange (including through electronic/internet trading portals) is prohibited under the Foreign Exchange Management Act (FEMA), 1999.

Further, the Reserve Bank of India (RBI) has clarified that remittance in any form towards overseas foreign exchange trading (including through electronic/internet trading portals or by use of credit/debit cards) is not permitted. RBI has cautioned that any person resident in India collecting and effecting / remitting payments directly /indirectly outside India in any form towards overseas foreign exchange trading through electronic/internet trading portals would make himself/ herself / themselves liable to be proceeded against with for contravention of the Foreign Exchange Management Act (FEMA), 1999 besides being liable for violation of regulations relating to Know Your Customer (KYC) norms / Anti Money Laundering (AML) standards.

Accordingly, please take note of the prohibitions on using your credit/debit card for such unauthorized transactions in contravention to the FEMA & regulations thereunder and that violation(s), if any, would attract penalties or as RBI or the

Enforcement Directorate may initiate against such residents.

If bank comes across any prohibited transaction undertaken by the Cardholder vide credit card or online banking, the bank will immediately close the card and report the same to Reserve Bank of India"

Issued by The Hongkong and Shanghai Banking Corporation Limited, India. Incorporated in Hong Kong SAR with limited liability.

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