Change of USD Overseas Payment Correspondent Bank’s Charge Collection Procedure
Published: 7 June 2012
Please be announced that we will change the collection process of our correspondent bank’s charge for USD overseas payment from Jun. 7, 2012
- Effective Date : May 7, 2012
But it will be effective from Jun. 7, 2012 for the customers who already use ‘OUR’ USD overseas payment with charge option of ‘OUR’.
- Target Transaction : Corporate Customer’s USD overseas payment transaction with ‘OUR’ charge option. ‘OUR’ : All transaction charges are to be borne by the ordering customer.
- Cautions :
1) HSBC will keep existing charging processes for non-USD overseas payment with ‘OUR’.
2) According to the market practices for USD overseas payment, there could still be some charge deductions from the principal amount.
| Before | After |
|---|---|
| Exemption | HSBC will debit our USD correspondent bank’s charge from ordering customer’s debit account together with the principal amount and our transaction charge for USD overseas payment. * HSBC’s USD correspondent bank’s charge - USD20 or KRW22,000 |