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Notices

Important notices

HSBC Credit Card interest rates revision

Dear Cardholder,

Please note that with effect from 1 September 2022, HSBC's Credit Card interest rates will be revised to 36% for both Purchases and Cash transactions. The new rate will be applicable to you from your next billing period.

eg.1) If the billing date is on 3 September, the new rate will be applicable from 4 September 2022.

     2) If the billing date is on 24 September, the new rate will be applicable from 25 September 2022.

Rate/Fee Type Purchase Transactions

Cash Transactions

HSBC Retail Credit Cards

36.00% p.a.

36.00% p.a.
Rate/Fee Type

HSBC Retail Credit Cards

Purchase Transactions

36.00% p.a.

Cash Transactions

36.00% p.a.

Important notice on proactive e-statement conversion

Given the current fuel shortages along with postal delays and postal services being deemed as non-essential, the bank will be proactively converting all customers on paper statements to e-statements from the month of August 2022, Receiving your statement via email is convenient, timely and uses no paper; This will improve your experience and avoid any negative impact due to statements not being received because of the prevailing conditions.

  • Customers who are on paper statements will be informed via SMS with notice of registration to e-statements.
  • Relevant e-statement is sent to the e-mail address registered with the bank along with password protected PDF file ensuring data privacy controls. 
  • Customers have the option to convert back to paper statements by calling the relevant customer service hotline or visiting the nearest branch.
  • Customers who do not raise any concerns will continue to receive e-statements after the e-statement conversion.
  • All customers who opt for paper statements will be subject to below charges w.e.f 30 August 2022.

charge as below

 

HSBC

Premier 

HSBC 

Advance

HSBC

Standard

E-statements 

FOC

FOC FOC

Hard copies - (Charge per statement)*

FOC

Rs. 200 Rs. 200

charge as below

 

E-statements 

HSBC

Premier 

FOC

HSBC 

Advance

FOC

HSBC

Standard

FOC
 

Hard copies - (Charge per statement)*

HSBC

Premier 

FOC

HSBC 

Advance

Rs. 200

HSBC

Standard

Rs. 200

For more details on the tariff click here.

CBSL concessions to affected businesses and individuals amidst the prevailing extraordinary macroeconomic circumstances

Click here for more information.

 

Transactions effected in foreign currencies via HSBC debit cards

From 18 July 2022, debit card purchase transactions effected in foreign currencies through the VISA network will be converted into Sri Lankan Rupees at the USD-LKR currency selling rate of HSBC on the date the transaction is posted to customer’s account.

Click here to access daily currency selling rate of HSBC.

A fee of 3.5% will be levied by the bank on debit card foreign currency transactions to mitigate the impact of exchange rate movements.

Dynamic Currency Conversion (DCC)

DCC Processing Fees

A Dynamic Currency Conversion (DCC) processing fees of 3.5% will be applied on debit cards w.e.f. 18 July 2022.

What is Dynamic Currency Conversion (DCC)?

Dynamic Currency Conversion (DCC) is a service offered at selected POS located overseas and used by certain merchants and service providers (who may be located overseas or online). DCC converts a foreign currency transaction into the currency of your debit card account at the point of sale. The currency of your card account is LKR.

What happens if the transaction is converted via DCC?

The merchant will convert the transaction amount into the currency of your card account, using a foreign exchange rate determined by the relevant merchant or DCC service provider. This rate may differ from the foreign exchange rate determined by Visa, MasterCard or other relevant card scheme associations.

Revision to Premier Air Miles conversion rate

In accordance with section 9.1-g and 9.7-e of the HSBC General Credit Card terms and conditions, due to the increase in foreign exchange rates HSBC Premier Credit Card Rewards programme air miles conversion ratio will be changed to 5:1, effective from 15th May 2022. i.e: 5 points will be equal to 1 air mile.

 

Suspension of HSBC’s Credit Card Balance Conversion Plan (CBC/Flexi Plans)

We are re-designing HSBC’s Credit Card Balance Conversion Plan (CBC/Flexi plans) programs. As such all promotions related to CBC/Flexi plans will be suspended with effect from 5 May 2022. However, you may convert transactions performed on or before 5 May 2022 to CBC/Flexi plan as per the existing Terms and Conditions We will keep you updated when this facility resumes.

 

Operating instructions for the Incentive scheme on Inward Worker remittances

In line with the operating instructions Ref 33/04/012/0011/004 and subsequent circulars issued by the Central bank with an objective of encouraging more worker remittances, The Government of Sri Lanka has launched an incentive scheme which allows you to earn an additional LKR2/- for every dollar (USD) you earn through overseas employment when converting the foreign currency to Sri Lankan Rupees (LKR). This is applicable for all transactions from 28 December 2020.

Transactions which are eligible for the incentive.

  • All local transactions converted to LKR from a Personal Foreign Currency Account (PFCA) with proceeds from overseas employment.
  • All credits received favoring account holders of HSBC Sri Lanka being proceeds of Inward Worker Remittance from overseas employment to LKR accounts.
  • Over the counter foreign exchange currency note transactions being proceeds of Inward Worker Remittances from overseas employment.
  • All worker remittances or funds currently in PFCA accounts received via worker remittances (from overseas employment) at the point of conversion to LKR.

For this purpose a declaration must be submitted to the bank by the relevant individuals declaring their eligibility. Declaration can be accessed via the www.hsbc.lk/declarationform We kindly request you to complete the declaration form and the completed and duly signed form to be emailed to inwardremittanceformreply@hsbc.com.lk.

Special note: It is not mandatory for Sri Lankans working abroad to convert their remittances to LKR. Those who wish to convert the said earnings in to LKR would be eligible for the special incentive.

 

Further guidance could be found in the attached links.

The Gazette of the Democratic Socialist Republic of Sri Lanka >

Amendment Update on 1 January 2021 >

Amendment Update on 27 January 2021 >

Operating Instructions on 'Reimbursement of the Transaction cost of Inward Workers' Remittances – Effective 01 February 2022

CBSL Operating instruction >

Special notes

Inward remittances received in foreign currency and converted to LKR are eligible for a reimbursement of overseas bank charges up to a maximum of two remittances when sending money to Sri Lanka. LKR 1000/- per transaction will be credited by the 7th working day of the following month effective from March 2022.

Sri Lanka residents who have received an overseas remittance will receive a SMS from the bank on the 1st working day of the following month. Please confirm your eligibly by the 5th working day via SMS IWT< SPACE > YES to 4774. If not, SMS IWT <SPACE> NO 4774 or Please contact your Relationship Manager or Branch Manager.

Operating instructions issued on the Special Interest Scheme for Senior Citizens

Kindly note that in line with the operating instructions issued on the Special Interest Scheme for Senior Citizens by the Central Bank of Sri Lanka on 24 February 2022, the procedure of ‘automatic renewal’ of Special Senior citizen’s fixed deposit Account/s (Interest rate of 15% and 14.06%) have been discontinued with effect from 01st March 2022.

If you wish to renew your senior citizen’s fixed deposit, it is mandatory to provide the renewal instructions to the Bank on each renewal cycle along with the senior citizen’s declaration (please click here to access the declaration). The duly completed declaration and the renewal instructions can be submitted to your nearest branch five days prior to the maturity date of your fixed deposit. Please note any renewal requests given in advance (i.e. more than 5 days prior to Fixed Deposit maturity) will not be accommodated by the Bank since an up to date declaration must be submitted at the time of placing/renewing the fixed deposit.

If same is not submitted prior maturity date of the fixed deposit, the capital amount will be disbursed to your savings account held with the Bank , if you do not maintain a savings account ,please note the Bank will be compelled to open a savings account on your behalf under your portfolio and disburse the funds to meet the regulatory obligation.

Limits on overseas transactions

We are currently experiencing a situation where clients looking to buy foreign currency exceed those looking to sell foreign currency into LKR. This requires customer demand to be managed via order management in line with customer fairness principles. However, for your convenience, transactions below the thresholds given will continue to be processed automatically.

Maximum weekly foreign currency spend (overseas and online) on HSBC credit and debit cards will be capped as follows.

Card Type Weekly amount
HSBC Premier
LKR 150,000
HSBC Rewards, Advance, Cashback Platinum,
Platinum, Gold
LKR 75,000

Maximum weekly foreign currency spend (overseas and online) on HSBC credit and debit cards will be capped as follows.

Card Type HSBC Premier
Weekly amount
LKR 150,000
Card Type HSBC Rewards, Advance, Cashback Platinum,
Platinum, Gold
Weekly amount
LKR 75,000

The week will commence from midnight every Sunday till 11:59 PM on the following Sunday. These caps will not apply for Medical, Insurance, Education, Airline and Lodging categories. However a limit of LKR 1,750,000 on a monthly cumulative basis will be applied across these categories.

System Downtime Notice

Dear Customer

Please be informed that due to a planned system maintenance the following services will be unavailable during the below mentioned period.

Date and Time Services Impacted

From

12.00 AM to 06.00 AM

on

 21 August 2022

  • Real time fund transfers (CEFTS) - Inward and outward

Dear Customer

Please be informed that due to a planned system maintenance the following services will be unavailable during the below mentioned period.

Date and Time

From

12.00 AM to 06.00 AM

on

 21 August 2022

Services Impacted
  • Real time fund transfers (CEFTS) - Inward and outward

We sincerely regret any inconvenience this may cause you. 

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