25 September 2018

Action required for UAE account holders

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Every customer enquiry is important to us. By providing details about your business interests we can direct your enquiry to our most relevant team member.

Please don’t enter confidential information such as your bank account details here.
All fields are mandatory unless otherwise indicated as optional.

  1. Current: Step 1 of 2 01
  2. Step 2 of 2 02

Reason for contacting us

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Contact details

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When may we call you?

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We will call you within the next 3 business days

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Request a call-back - Your business interests (optional)

Every customer enquiry is important to us. By providing details about your business interests we can direct your enquiry to our most relevant team member.

Please don’t enter confidential information such as your bank account details here.
All fields are mandatory unless otherwise indicated as optional.

  1. Completed: Step 1 of 2 01
  2. Current: Step 2 of 2 02

Business size (optional)

Your business turnover

Your industry sector (optional)

Your market interest (optional)

Which international markets interest you?

Add your business interests

Please don’t enter confidential information such as your bank account details here.
All fields are mandatory unless otherwise indicated as optional.

Business size

Your business turnover

Your industry sector

Your market interest

Which international markets interest you?

Request a callback

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Request a callback

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We’ll be in touch

A Relationship Manager from HSBC UAE will give you a call within three business days.

Your interests

  • Business name:
  • Turnover:
  • Sector:
  • Location:
  • International markets:

Add your business interests

We won’t sell your data or misuse it. Read how we handle your details in our cookie policy.

With effect from 1 September 2018, a valid Purpose of Payment code is required for all cross-border payments and Inter-account Transfers from accounts held with HSBC UAE.

To enable you to make changes to your systems, there will be a grace period until 1st December 2018 after which failure to include a Purpose of Payment code in the relevant field will result in payments being rejected. We still recommend you to start using the POP codes in your payment instructions with immediate effect.

This update is in line with the Central Bank of UAE's directive and further to our recent communication regarding Purpose of Payment requirements for international payments and Inter-account Transfers. This requirement applies for payments submitted to the bank.

What does this mean for me?

As of 1 December 2018, a valid Purpose of Payment code is required in the appropriate field or your payment will be rejected.

Please note that the Purpose of Payment code for Goods Bought and Sold ("GDS") will be removed from the list of accepted codes as of 1 December 2018. We recommend that you update your templates as needed.

The full list of updated Purpose of Payment codes is available here.

Action required by 1 September 2018:

To avoid payment rejections, we recommend that you include a valid Purpose of Payment code in the appropriate field of your payments starting on 1 September 2018. Further details of the changes can be found below:

  • Cross-border and HSBC Inter-account Transfers: All domestic and cross-border payments, including third-party payments (MT101) and HSBC Inter-account Transfers, require a valid Purpose of Payment code.

For more information on Purpose of Payment requirements for payments from your HSBC UAE accounts, please contact your HSBC representative.

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Please be aware that the external site policies will differ from our website terms and conditions and privacy policy. The next site will open in a new browser window or tab.