Kuwait accounts: SWIFT BIC codes can be used for ACH transactions beginning 16 February 2020

On 16 February 2020, we’re updating our systems to allow you to include a SWIFT BIC in the beneficiary bank identifier fields when submitting ACH transactions via the HSBCnet File Upload and HSBC Connect services from accounts in Kuwait.

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This change will apply to XML V2 or V3 formatted files that are uploaded using File Level Authorisation (FLA) or as Pre-Authorised.

What’s changing?

If you choose to include both the SWIFT BIC and the Correspondent Bank ID (CBID) for an ACH payment, the system will use the SWIFT BIC to identify the beneficiary’s financial institution and disregard the CBID. For these payments, please make sure that the SWIFT BIC you include is valid and is mentioned in the SWIFT BIC field. Using an invalid SWIFT BIC will result in your payment being rejected, even if the CBID is correct. Adding the SWIFT BIC (in addition to the CBID) to your ACH payment files is optional. If you choose to continue using the CBID only, it should only be entered in the appropriate CBID field.

Note: please continue using the CBID only for the following payment types:*

  • On-screen ACH payments
  • ACH payment files uploaded using Instruction Level Authorisation (ILA). Find out more.

If you have any questions, please contact your local HSBCnet Support Centre or your Client Services representative.

To obtain Message Implementation Guides (MIG) for file formatting, please contact your Client Services representative.

* Including a SWIFT BIC may result in these types of payments being rejected.

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