Action required for Qatar account holders: Mandatory Purpose of Payment code requirements
Purpose of payment has been mandatory in Qatar as per the local regulations and from 09 June 2019, for all domestic Qatari Riyal payments via ACH Credit, Priority Payments/Customer Transfers and Inter-account Transfers, clients "will be required to submit a valid Purpose of Payment in the required fields.
This update is in line with the local "regulations. This requirement applies for payments submitted on-screen via HSBCnet, File Upload, HSBC Connect, and SWIFT transactions.
What this mean for you
As of the said date, a valid Purpose of Payment code is required in the appropriate mandatory field or your payment will not be accepted.
The full list of updated Purpose of Payment codes is availablehere >
Action required by 09 June 2019:
To avoid payment rejections, include a valid Purpose of Payment code in the appropriate field of your payments . Further details of the changes can be found below: "
ACH Credit transactions:"
Please use the ‘Purpose of Payment’ field to provide valid Purpose of Payment codes for your payment instructions.
Existing Templates, Standing Instructions, and Forward-dated payments need to "be updated to include valid Purpose "of Payment codes for related payment type, as above (ACH or Priority payments).
"Reminder: if you update a Restricted Template, another user with permission must authorise it for it to become updated. "
If you have any questions, please contact your local HSBCnet Support Centre on +974 44254353.