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Notices

Important notices

Gazette notification applicable to Persons providing services Overseas

In light of the Gazette No: 2251/42 dated 28 October 2021 > - Repatriation of Export Proceeds into Sri Lanka Rules No. 5 of 2021 and the recent FAQs > issued by Central Bank dated 16 November 2021, you are required to confirm if you are a Resident of Sri Lanka who provides services to persons outside Sri Lanka including Professional/Vocational, Occupational and Business Services and if overseas payments for such services are collected to your PFCA/BFCA A/c's maintained with us. If so, please fill the attached declaration form confirming the information and submit to inwardremittanceformreply@hsbc.com.lk. The payment instruction form will be available by 30 November 2021. Please contact your Relationship Manager or Branch Manager for any clarifications.

Declaration form

Further guidance could be found in the attached links.

The Gazette of the Democratic Socialist Republic of Sri Lanka (PDF ,208KB)

Details FAQ >

Discontinued Acceptance of International Cheques

HSBC will be discontinuing the acceptance of International Cheques/ Inward Demand Drafts effective 31 December 2021. We encourage you to use the Global View platform for Own Account Global Transfers, and Telegraphic Transfers (TT) for Third Party Global Transfers. We regret any inconvenience caused.

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 2,000,000 will be applied for a single transaction across these categories.

Service fee on HSBC General Banking Accounts

Thank you for choosing to bank with HSBC. We hope that you have experienced the convenience of banking with us.

This is a kind reminder that all general banking customers are required to maintain a minimum Total Relationship Balance (TRB) of LKR35,000/- in the deposit accounts on a monthly basis.

In the event the Total Relationship Balance  is not maintained, a monthly below balance service charge will be levied as per our standard tariffs. The latest guide on tariffs can be accessed via hsbc.lk/tariffs for further information.

Therefore, we kindly request to fund the appropriate account/s to avoid any charges prior to 31 October 2021.

Should you need further clarifications, please reach out to our 24/7 call center on +94 11 447 2200.

Transactions effected in foreign currencies

All Credit/Debit transactions effected in foreign currencies will be converted into Sri Lankan Rupees at a rate of exchange adopted by Visa/MasterCard International on the date of settlement plus an additional percentage levied by the bank in lieu of exchange rate volatility and transaction fees charged by Visa/MasterCard. This percentage will be reduced from 7% to 3.5% with effect from 15 September 2021.

 

Dynamic Currency Conversion (DCC)

DCC Processing Fees 

Dynamic Currency Conversion (DCC) processing fees will be revised down from 5% to 3.5% with effect from 15 September 2021

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 credit/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.

Covid-19 Relief measures for Personal Banking Customers

The financial well-being of our valued customers is our priority, especially during these challenging times. We'd like to know if you need any support given your current financial status and how we can support your well-being. Click here for details on the relief measures. Thank you.

Discontinuation of Cashiers Order Standing Instructions

We will be discontinuing accepting Standing Instructions (SI's) via Cashier Orders effective 31 October 2021. We encourage you to place your standing instructions via Online Banking.

Visa Platinum Cashback Credit Card – Revision

HSBC Visa Platinum Cashback Credit Card product has been revised and the changes will be effective from 01 Aug 2021.

here's what's going to change;

  • Guaranteed savings at any Supermarket, Mobile/Telecommunication Service Provider and Fuel Station of 10% monthly as cash back up to a maximum of LKR 1,000 a month.
  • Greater savings on on-line transactions.
  • Further discounts at supermarkets.

 

Please visit www.hsbc.lk/Cashback-Revision for more information.

Please visit www.hsbc.lk/credit-card-tnc-eng.pdf for revised terms. 

For any further clarifications please contact us via webchat.

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.

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