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Notices

Important notices

HSBC Credit Card interest rates revision

Dear Cardholder,

We wish to inform you that with effect from 12 May 2022, HSBC’s Credit Card interest rates will be revised to 30% for both Purchases and Cash transactions. The new rate will be applicable to you from your next billing cycles post the effective date mentioned. 

 

E.g  If your billing period starts on 18 May 2022, the new rate will be applicable from 19 May 2022 onwards. 

Rate/Fee Type Purchase Transactions Cash Transactions
All HSBC Credit Cards 30.00% p.a.
30.00% p.a.

Dear Cardholder,

We wish to inform you that with effect from 12 May 2022, HSBC’s Credit Card interest rates will be revised to 30% for both Purchases and Cash transactions. The new rate will be applicable to you from your next billing cycles post the effective date mentioned. 

 

E.g  If your billing period starts on 18 May 2022, the new rate will be applicable from 19 May 2022 onwards. 

Rate/Fee Type All HSBC Credit Cards
Purchase Transactions 30.00% p.a.
Cash Transactions 30.00% p.a.

Overcharged Interest on Credit Cards

Dear cardholder

We regret to inform you that your HSBC Credit Card was applied with an excess interest rate of 2% p.a between the period 4 March to 6 March 2022. The overcharged 2% p.a interest will be reversed to your April or May statements.

In addition to the overcharged interest amount, we have also made arrangements to refund the credit interest that you may have otherwise earned for the additionally collected interest amount. Kindly note that applicable credit interest was calculated using HSBC Savings account interest rate in to the number of days from the credit card statement date to the interest refunded date.

We regret the inconvenience caused and assure you that preventive measures are in place to avoid a recurrence.

Branch to operate with restricted banking hours

Due to the prevailing power interruptions within the country, we wish to inform you that our Express Banking Center will not be in operation during power cuts.  We encourage you to use our Online /mobile banking platform and any ATM with a VISA Plus sign for your convenience and safety.Take care and Stay safe

Gazette notification applicable to Persons providing Export services Overseas & Sri Lanka

In light of the Repatriation of Export Proceeds into Sri Lanka Rules No. 1 of 2022 published in Gazette No: 2270/66 dated 11.03.2022 >  - you are required to confirm if you are a Resident of Sri Lanka who provides services to persons outside or inside of Sri Lanka including Professional/Vocational, Occupational and Business Services and if payments for such services are collected to your PFCA/BFCA A/c's maintained with us. If so, please fill the attached Payment instruction form confirming the information.

HSBC Premier customers should submit the forms to their respective Relationship Manager and for non-Premier customers please speak to your Branch Manager.

Please contact your Relationship Manager or Branch Manager for any clarifications.

Payment Instruction formPayment Instruction form This link will open in a new window (Please open this form in Internet Explorer or on Adobe Reader on Desktop)

Further guidance could be found in the attached links.

The Gazette of the Democratic Socialist Republic of Sri Lanka dated 11.03.2022

Details FAQ >

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.

Conversion of Physical statements to e-statements

We are pleased to inform you that as a part of the HSBC digitalization process, we are introducing e-statements to all our valued customers. By subscribing for e-statements you can enjoy an array of benefits while reducing your carbon footprint.

E-statement is an easier, faster and a secure method to access your transaction details at your convenience.

what’s more

  • Zero risk of contamination through physical mail delivery
  • Zero statement delivery issues due to Covid restrictions or Any other disruptions Eg: Postal Strikes
  • Easy to store & track your spending habits
  • Reduce your carbon footprint by eliminating the use of physical statements

Please note that the e-statement facility can be enjoyed free of charge and with effect from 25 June 2022, physical statements will be charged a fee of LKR200/- per statement per generation frequency (the applicable tariff and any subsequent changes to this fee can be accessed via https://www.hsbc.lk/tariffs/). To activate e-statements simply type “EST” and send a SMS to 4774 from your registered mobile number, alternatively you may type “EST” and respond directly to “estatementconversion@hsbc.com.lk” with your registered email address.

Note : Customers aged 55 years and above will continue to receive physical statements and will be exempted from statement charges.

Advertisements /Notices on informal money remittances

As guided by the Financial Intelligence Unit (FIU) of the Central bank of Sri Lanka please find attached information on informal money remittances.

Notice 1(PDF, 1.9MB), Notice 2(PDF, 2MB) Notice 3(PDF, 2MB).

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

Good news! There are no downtimes scheduled. Our systems are all up to date.
Watch this space for future updates.

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