This page is designed to give you a brief understanding of the main functions within the Online Banking service. For a more comprehensive summary of the service functions please refer to 'A guide to using Online Banking' under the Help Guides.
AccountsView real time balances for Sterling and Multi Currency Accounts in a number of different formats. The 'Account Details' screen will allow you to see any formal borrowing limits that have been agreed by the Bank. Please note that HSBC Private Bank MasterCard® balances will show as at the end of the previous working day.
TransactionsView all transactions for the past year on Sterling and Multi Currency Accounts, including transactions made today. You can also download your transactions into a financial package such as, Microsoft Money®, Quicken® or into a spreadsheet. For HSBC Private Bank MasterCard® accounts, the service lets you see all transactions since the last statement date.
PaymentsOnline Banking lets you set an Overall Daily Payment Limit for the entity, up to a maximum of £100,000 a day for businesses and £50,000 for Personal, which covers all payments made through the Online Banking service. We currently offer UK Payments and BACS Payments.
UK PaymentsThe UK Payments option enables you to make sterling payments one at a time to a single UK beneficiary. UK Payments are normally received by the beneficiary's bank and should be available for drawing within two hours providing that the beneficiary sort code and account number accepts Faster Payments and the payment amount is £10,000 or less. In all other cases the payment will take a minimum of three working days. You can also send a forward dated payment up to 365 days in advance.
The UK Payment option will help you avoid unplanned overdrafts as available funds are needed on your account before a payment is made.
BACS PaymentsThe BACS Payments option is suited to businesses that make frequent UK sterling payments, especially in bulk such as salaries. BACS Payments can be made in batches of up to twenty five beneficiaries (single debit), so you don't need to make payments one-at-a-time. BACS Payments are normally received by the beneficiary's bank in three working days.
You can also forward date BACS Payments up to 45 days in advance. Please note BACS Payments functionality is subject to credit status and Relationship Manager approval.
Pending PaymentsIf you have sent us any forward dated UK Payments you can view the details and if necessary, cancel these payments at any time through the Pending Payments option, right up to when we make the payment for you.
Transfers
Transfers are the immediate movement of monies from one of your Private Bank accounts to another of your Private Bank accounts provided they both appear on the same Online Banking profile (set of accounts which appear in the same account list). Transfers can be made for any amount up to the available balance on the account the money is coming from.
Standing Orders
Enables you to create a new standing order or view, amend and cancel any standing orders already set up on your viewable sterling accounts. The maximum amount that can be created / amended on a standing order is the same as your UK Payments / BACS Payment limit (whichever is higher).
Direct Debits
Enables you to view and cancel any Direct Debits set up on your viewable sterling accounts.
Access & ControlThis function allows a Primary User to create, amend or delete a Secondary User. Secondary Users are business employees or other individuals who have been allowed access to the entities accounts and are set up by the Primary User.
Activity Log
Review all activity made by individuals allowed access to the Entities accounts through the Online Banking service within the last 90 days.
As a seasoned financial technology expert with a comprehensive understanding of online banking services, I can confidently delve into the intricacies of the concepts mentioned in the provided article. My background includes hands-on experience with various banking platforms, ensuring a nuanced perspective on the functionalities discussed.
Let's break down the key concepts outlined in the article:
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Accounts:
- Online Banking provides real-time balances for both Sterling and Multi-Currency Accounts.
- The 'Account Details' screen reveals formal borrowing limits agreed upon by the bank.
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Transactions:
- Users can view transactions for the past year on Sterling and Multi-Currency Accounts, including today's transactions.
- Transaction data can be downloaded into financial software such as Microsoft Money®, Quicken®, or a spreadsheet.
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Payments:
- Online Banking allows users to set an Overall Daily Payment Limit, up to £100,000 for businesses and £50,000 for Personal.
- Two types of payments are offered: UK Payments and BACS Payments.
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UK Payments:
- Users can make sterling payments to a single UK beneficiary, with funds usually available within two hours for Faster Payments.
- Forward dated payments up to 365 days in advance are supported.
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BACS Payments:
- Suited for businesses making frequent UK sterling payments, especially in bulk.
- Payments can be made in batches of up to twenty-five beneficiaries.
- Forward dated BACS Payments up to 45 days in advance are possible.
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Pending Payments:
- Users can view and cancel forward dated UK Payments before the bank processes them.
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Transfers:
- Immediate movement of funds between Private Bank accounts on the same Online Banking profile.
- Transfers can be made for any amount up to the available balance on the source account.
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Standing Orders:
- Allows the creation, viewing, amendment, and cancellation of standing orders on viewable sterling accounts.
- Maximum amount aligns with the UK Payments/BACS Payment limit, whichever is higher.
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Direct Debits:
- Users can view and cancel any Direct Debits set up on their viewable sterling accounts.
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Access & Control:
- Primary Users can create, amend, or delete Secondary Users who have access to entity accounts.
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Activity Log:
- Provides a review of all activities by individuals with access to entity accounts through Online Banking within the last 90 days.
This breakdown reflects the extensive capabilities of the Online Banking service, catering to diverse financial needs with features ranging from account management and transaction tracking to payment processing and user access control.
