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Online Banking FAQs

General information about Internet Banking

What is Personal Internet Banking?

Online Banking is one of the fastest, most convenient ways to access your HSBC accounts, view balances, transfer funds and pay your bills online. Using your unique Username and security details, you can perform banking transactions online, whenever and wherever you want.

Is there a telephone number I can call to speak with a Customer Service Representative about online banking?

Personal and Business Internet Banking customers who need support should contact Internet Banking Support on (+441) 299 5959 from 8:00am to 5:00pm, Monday to Friday. HSBCnet customers who wish to speak with a Customer Service Representative should contact (+441) 299-6110 Monday to Friday, 8:00am - 6:00pm AST.

Is there a charge for using Internet Banking?

At this time, there is no charge for using any of our online banking services other than the standard bank charges that apply to transactions such as wires, drafts, and foreign currency requests. Note: With Internet Banking you can benefit from reduced transaction pricing only available when you bank online!

Can I order new cheque books online?

New cheque books can be requested in Online Banking by clicking on 'Order cheque book’ from the ‘Services’ menu in the left navigation.

Will I receive my cheque images in the mail if I sign up for e-Statement delivery?

If you sign up for Online Banking’s e-Statement delivery service, you will receive ALL your account statements electronically through Online Banking. Your paper statements will cease to be sent to you, including cheque images. Cheque images are not included in the electronic version of your statement.


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Features and banking transactions

What banking transactions can I perform with Online Banking?

Online Banking allows you to make transactions online and manage your accounts. You can:

  • View balances and transactions on your deposits, loans, credit card, and mortgage accounts
  • Pay bills or transfer money to virtually anyone
  • Request a Credit Card limit increase
  • Apply for HSBC accounts and services
  • View your eligible chequing and savings statements through eStatements
  • Order new cheques
  • Request a stop payment for a HSBC cheques

Bill Payments - Add payees in real-time and pay up to six bills in Bermuda Dollars at one time, using the 'Pay multiple bills' function. To pay bills in US Dollars, you must select the 'Pay a bill' function.

Open New Accounts - Opening a new account has just become easier! Now you can open an account online and save a trip to the bank, whether it is for chequing, savings or term deposits. Online Banking is easy, fast and works to fit your schedule.

Future Dated Transfers -  Do you know of a future transfer that you need to make? Why wait! Our new transfer service allows you to conveniently create future dated transfers up to 45 days in advance. As a value added feature you can also view past transfers which are saved in your Transfer history.

Online Security Reset - Forgotten your passwords? Don't worry. Just select new security details and gain immediate access to Online Banking.

Stop Cheques - Now you can request a stop payment on one or a series of their personal HSBC cheques through Online Banking.

Security - Online Banking contains several security features including your Username, Memorable Question and Answer, Password and HSBC Security Device. Each time you log on to the site the service will ask you for the security code from your Security Device. See our Security section for more information on how to stop spyware.

e-Statements - No more waiting for the mail. With e-Statements, you can view recent account and credit card statements online through Online Banking. Just turn on this function by completing the 'e-Statement/e-Advice request' under Statements in the left menu. Your advices will be sent to your 'Contact Centre - Read Messages' box.

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Helpful navigation guide – Where is…?

As part of the change to our new Online Banking systems some commonly used features have moved. Below is a quick guide to where these features can be found in Internet Banking:

How do I request a Bank Cheque?

  1. Select ‘Transfers’ from the left hand menu
  2. Select, which account you, would like your funds to be transferred from.
  3. Select 'Bank Cheque in BMD or USD for local use' from the ‘Transfer to’ dropdown list.
  4. Indicate how you would like bank cheque to be delivered by clicking on the appropriate option.
  5. If you have chosen ‘Collect at branch’, select the branch name from the dropdown list.
  6. Type in the beneficiary's name and address (you will need to enter at least the name and first line of address).
  7. Key in the amount you want to transfer.
  8. Select the currency from the dropdown list (if applicable).
  9. Transaction charges, if any, would be deducted separately from the account your funds are transferred from.

How can I request an Advance Foreign Currency Order?

To request a Cash advance order via Online Banking follow these easy steps:

  1. Select ‘Cash Advance Order’ from the left menu.
  2. Complete the information requested in the Transaction Details
  3. Enter the Transaction Data Signing code in the applicable field and click ‘Confirm’

How can I set up and save new Wire and Third Party Transfers?

Saving new wire and third party transfers in Online Banking is easy.

  1. Simply click on the 'Transfers' menu from the left navigation
  2. Select the dropdown list you would like your funds to be transferred from
  3. Key in the details for your instruction in the required fields and enter a transaction data code for the beneficiary, using your Security Device.
  4. Click ‘Continue’. IMPORTANT NOTE: If you only want to save the template and not make a transfer immediately, click ‘Save template’.

How can I download my account history to my financial software package?

With Online Banking you can download into most financial management software using QFX, QIF or CSV file formats. These file formats work with most of the popular spreadsheet and database programmes. You can also find detailed information explaining how to download your account history in the 'Help' section of Online Banking.

How can I download to Microsoft Money?

Quicken Interchange Format (QIF) is supported by all versions of Microsoft Money and a number of other financial management software packages. You will need to follow some simple steps to save the file on your computer and then import to the financial management application. Refer to your software manual or online support for more details.

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Getting started with Online Banking

What do I need to start using Online Banking?

All you need to start banking online is a HSBC Bermuda account, HSBC Security Device and a computer with secure internet access. In a continued effort to safeguard online banking transactions, HSBC requires full 128-bit encryption for Online Banking use. The chart shows supported browsers that offer the highest level of encryption:

Windows XP (SP3) Windows Vista (SP1) Windows 7 (SP1) MacOSX (10.6)
Internet Explorer 6 (SP3) Yes No No No
Internet Explorer 7.0 Yes No No No
Internet Explorer 8.x No Yes Yes No
Internet Explorer 9.x No Yes Yes No
Firefox 4.x No No Yes No
Firefox 5.x No No No Yes
Chrome 12.x No No Yes Yes
Chrome 13.x No No Yes Yes
Safari 5.x No No Yes Yes
Opera 11.x No No Yes No


If you use an older browser that supports 128-bit encryption, it’s recommended that you upgrade to one of the HSBC's supported browsers listed above. If your browser does not support 128-bit encryption, you will need to download the latest version in order for you to use Online Banking.

There is no special software needed to access Online Banking. Once you register, you will be able to log onto Online Banking anytime from www.hsbc.bm – just click the red ‘Log On’ button in the upper right portion on any page of the site.

What information is required when I register for Online Banking?

To register for Online Banking, you will need:
Your HSBC Debit Card, current Debit Card PIN and a HSBC Security Token

This specific information provides an automatic verification of your identity and allows you immediate access to Online Banking.

What type of browser can I use to access Online Banking?

In a continued effort to safeguard online banking transactions, HSBC requires full 128-bit encryption for Online Banking use. The chart shows supported browsers that offer the highest level of encryption:

Windows XP (SP3) Windows Vista (SP1) Windows 7 (SP1) MacOSX (10.6)
Internet Explorer 6 (SP3) Yes No No No
Internet Explorer 7.0 Yes No No No
Internet Explorer 8.x No Yes Yes No
Internet Explorer 9.x No Yes Yes No
Firefox 4.x No No Yes No
Firefox 5.x No No No Yes
Chrome 12.x No No Yes Yes
Chrome 13.x No No Yes Yes
Safari 5.x No No Yes Yes
Opera 11.x No No Yes No


If you use an older browser that supports 128-bit encryption, it’s recommended that you upgrade to one of the HSBC's supported browsers listed above. If your browser does not support 128-bit encryption, you will need to download the latest version in order for you to use Online Banking.

Why do I need to accept ‘cookies’ to access my financial information online?

A cookie is a text file that resides on your computer. As part of the security of your data, cookies remind HSBC of your particular browser preferences and security requirements. If your browser prompts you when a cookie is ‘served,’ you must accept it or the access to confidential information will be denied. Since cookies are site specific, only HSBC can access, decode and make use of the information.

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Registering for Online Banking

How do I register for Online Banking?

Simply select the Internet Banking tab on the upper right portion of the www.hsbc.bm homepage. Then click on ‘Register for Online Banking’ and follow the easy registration instructions.

You will gain immediate access to Online Banking when you register with your HSBC Debit Card, current Debit Card PIN and a HSBC Security device. This allows us to verify your identity in a secure manner. You will also create your own unique Customer ID and security details to use each time you access the service.

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Paying bills

When you register for Online Banking you'll be able to pay your utilities, credit card, loan accounts and more. Set up new payees without contacting HSBC Bermuda (in most cases). Choose to pay now or up to 45 days in the future. You can even set up recurring payments for those bills you pay each month. We recommend that you schedule your bill payments at least five (5) business days before a payment is due to avoid late charges.

How do I pay bills online using Online Banking?

  1. From 'Accounts home' click 'Pay bills' in the left navigation menu.
  2. You can either pay multiple bills at one time, (BMD only) or pay a single bill, (BMD or USD) by clicking the options in the left navigation menu.
  3. Simply fill in the requested fields and select from your bill payees dropdown list.

How do I add a payee to my list?

  1. In the left navigation menu, click 'Add payee' under the 'Pay Bills' menu.
  2. Select a search option from the dropdown list and input your search criteria. Once you select your merchant, enter your account number.
  3. Enter the Transaction Data Signing code for your account number in applicable fields.
  4. Review details then click 'Confirm'.
  5. Your new payee will immediately be added to your payee list.

How do I make a bill payment if I am being billed in USD?

Making a bill payment in USD is no different than making one in BMD, except that you can only make USD bill payments using the 'Pay a bill (BMD / USD)' function. You cannot use the ‘Pay Multiple Bills (BMD only)’ option to pay a USD bill.

Will I be charged a currency exchange rate for paying a payee in USD?

If you select to pay a payee in USD from a non USD account, you will be charged applicable currency exchange rates and foreign currency purchase tax (FCPT). To avoid these charges, be sure to pay your bill in the same currency of the account you are debiting. For example, pay USD payees from a USD account and BMD payees from a BMD account.

How do I make a payment on my credit card?

To make payments on your credit card using Online Banking,select the 'Pay a bill (BMD / USD)' or 'Pay multiple bills (BMD only)' function from the 'Pay bills' menu in the left navigation. Then simply follow the instructions to complete your bill payment transaction. Please note only BMD credit cards can be paid using 'Pay multiple bills (BMD only)' option.

How do I know if the bill payment I made on Internet Banking was completed?

Once you have entered your online bill payments, click 'Pay'. Be sure to review your information and 'Confirm' that it is correct. You will then receive an ‘Acknowledgement’ screen repeating the information you have entered. This screen will also include a reference number as verification that your payment was accepted. You can also obtain this number by selecting ‘Payment history’ or ‘Transfer history’ from the left menu and searching for your transaction by date. If you have any questions or problems, contact Internet Banking Support on (+441) 299 5959.

What if I submit a transaction request online and I want to cancel it?

If you scheduled a payment to be processed immediately, you may not be able to stop the payment. Any other scheduled or recurring payments may be cancelled if done within one business day before the process date. Use the 'Change' option in the 'Future Payments' section of Online Banking.  If your transaction has already been processed, we will work with you and the beneficiary bank to attempt to recall the transfer.  Please contact Internet Banking on (+441) 299 5959 for assistance.

How will I know if my bill payees received their payments?

You will receive a reference number for each confirmed bill payment. The reference number is your proof that a payment will be processed. To verify that your payee credited your account, you may wish to review your next bill from the payee to verify that the payment was presented for payment and cashed.

How many bill payees and transfer templates can I set up in Online Banking?

You are able to save a combined total of 99 bill payees and transfer templates in Online Banking.

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Transfers

How do I make a transfer?

  1. Click transfers in the left navigation menu
  2. Choose which account you would like to make the transfer from in the drop down box
  3. Select what type of transfer you would like to make in the ‘Transfer to’ drop down box
  4. Enter the amount and the currency in the corresponding fields
  5. Choose whether you would like to transfer it now, transfer it later or whether you would like to set up a recurring transfer
  6. In the details box, enter transfer details which will show up on your 'Account summary'

How do I request a Demand Draft or Cashier’s Order (Bank Cheque)?

  1. Select ‘Transfers’ from the left hand menu
  2. Select which account you would like your funds to be transferred from.
  3. Select 'Demand Draft' or 'Bank Cheque' from the ‘Transfer to’ dropdown list.
  4. Indicate how you would like your demand draft or bank cheque to be delivered by clicking on the appropriate option.
  5. If you have chosen ‘Collect at branch’, select the branch name from the dropdown list.
  6. Type in the beneficiary's name and address (you will need to enter at least the name and first line of address).
  7. Key in the amount you want to transfer.
  8. Select the currency from the dropdown list
  9. Transaction charges, if any, would be deducted separately from the account your funds are transferred from.

How can I request an Advance Foreign Currency Order?

To request a Cash advance order via Online Banking follow these easy steps:

  1. Select ‘Cash Advance Order’ from the left menu.
  2. Complete the information requested in the Transaction Details
  3. Enter the Transaction Data Signing code in the applicable field and click ‘Confirm’

How can I set up and save new Wire and Third Party Transfers?

Saving new wire and third party transfers in Online Banking is easy.

  1. Simply click on the 'Transfers' menu from the left navigation
  2. Select the account from the dropdown list you would like your funds to be transferred from
  3. Key in the details for your instruction in the required fields
  4. Enter the Transaction Data Signing code in applicable fields and click ‘Confirm’ and click ‘Continue’.

IMPORTANT NOTE: if you ONLY want to save the template and not make a transfer immediately, click 'Save template'

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Payments to EU and EEA countries 

What is the IBAN?

IBAN stands for International Bank Account Number. An IBAN includes all of the details needed by a receiving bank to apply a payment directly to a beneficiary’s bank account without manual intervention. Customers sending funds to European Union and European Economic Area countries are required to adopt IBANs for payments effective 1 January 2007.

For a list of countries where the use of IBANs are required  for payment or receipt of payments in Euro, please visit the International Bank Account Number (IBAN) website at http://www.ecbs.org/iban.htm.

How can I identify an IBAN?

The IBAN is a multiple digit code that is constructed in sections. The length of IBANs will vary from country to country due to different domestic bank codes and account numbering systems. The diagram below combines country code, check digit, bank code, sort code and account number, all which make up the IBAN.

Your IBAN is made up of the country code, branch code, bank code, sort code and account number

 

 

 

 

What is a BIC?

BIC stands for Bank Identifier Code. It is an alphanumeric code used to identify precisely the financial institutions involved in financial transactions. A BIC may also be known as BC (Bank Code), CHIPS (Clearing House Inter-Bank Payment System) or a NCC (National Clearing Code).

To validate and confirm a Bank Identifier Code, please visit the SWIFT Publication Portal at http://www.swift.com/biconline.

How do I provide the IBAN and BIC for money transfers in Online Banking?

When sending a transfer to an EU or EEA country you will not be specifically asked to insert an IBAN. When submitting your payment instructions, it is mandatory that you enter your beneficiary’s IBAN into the “Beneficiary account number” field. If you select a beneficiary bank from the drop down list, your BIC will automatically appear in the “Local bank code” field.

If you are submitting payment instructions using the free-format option, it is mandatory that you also enter your beneficiary’s BIC in the “Local bank code” field. Any euro cross border payment instructions submitted without both BIC and IBAN details to countries within the EU and EEA will be rejected or returned.

Who will be required to use IBANs?

Any individual, company bank or other institution, sending payments to EEA or EAU countries will be expected to quote the IBAN of the beneficiary in the payment instructions. If you are making payments into Europe you should ensure that you receive from your beneficiary their IBAN and quote this in the account number field of your payment instructions to us.

Will I need an IBAN if I am making or receiving a payment to or from a country outside Europe?

At this stage, countries outside Europe have not adopted IBANs. Therefore, an IBAN will not be required for payment messages originating from, or going to, non-European countries.

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Other Internet Banking transactions

How can I transfer funds between my accounts at HSBC and other banks?

You may transfer funds between your chequing and savings accounts. Transfers can be scheduled to occur immediately or on a future date or on a specific date every month. And as a Online Banking customer, you also have access to move your money between your HSBC accounts and your non-HSBC bank accounts, including financial institutions, credit unions and investment accounts!

Can I view my credit card or chequing account transactions online?

Yes, you are able to view ninety days of transaction history online in ‘Account Summary’. If you select ‘e-Statements’ you can view your most recentsstatements for each of your accounts and credit cards online. You must first turn on e-Statements by selecting ‘e-Statement/e-Advice request’ and clicking on the applicable radio buttons. Wait to get your ‘Acknowledgement’ page and you will receive your next statements and advices online instead of by mail. For joint accounts, to no longer receive paper statements, all joint parties must sign up for e-Statements delivery service.

Can I request a credit card limit increase through Online Banking?

Yes, you can request a credit card line increase by clicking on ‘Services’ from the left navigation menu then choosing ‘Request change in credit card limit.’ Select ‘Limit increase’ and follow the application instructions.

Can I open a new chequing or savings account online?

Yes. Simply click on ‘Open new account’ from the left navigation menu. From the dropdown list select the type of account and the currency. Then click on ‘Open.’ You will be given a confirmation number and your account will immediately appear on your ‘Account Summary’ screen . In addition you can also request information about new products and services online at any time through the Internet Banking 'Contact centre'

Can I apply for other HSBC accounts through Online Banking?

Yes, you can quickly and easily apply for selected HSBC accounts while on Online Banking including 'Call Deposit' and Fixed Term Deposits. Simply select from the list of available product types to apply, and we'll take care of the rest!

I opened a new account in Online Banking but it is not showing up when I use an ATM. Why?

New accounts opened in Online Banking are only visible on your online banking profile. To link new accounts opened online to your HSBC debit card please contact Internet Banking support on (+441) 299 5959.

IMPORTANT: A maximum of three (3) accounts can be linked to a debit card.

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Useful online services

Can I nickname my accounts?

Yes, you can give nicknames to your accounts for easier tracking and monitoring. Click on ‘Services’ from the left navigation menu, and then select ‘Rename accounts.’ Nicknames do not affect your accounts, balances or how they appear on your statements.

IMPORTANT: When you rename your accounts using Online Banking, your nicknames will ONLY show when viewing your accounts online.

How do I add or remove an account from my Account Summary screen?

You are able to amend the list of accounts you can view and access through Online Banking by following these simple steps:

  1. Click on ‘Services’ located in the left navigation menu
  2. Click on ‘Select accounts’
  3. You must place a tick in the box next to the account you want to access or view.

Once you have successfully completed your request, your Accounts Summary screen will reflect your changes.

To add any accounts that are not displayed on your Internet Banking profile contact Internet Banking Support on (+441) 299 5959.

What kind of information can I download using Quicken/Microsoft Money?

Quicken and Microsoft Money are personal financial management software which help to keep track of your overall financial status including assets, liabilities, account balances and expenses. The ‘Download transaction history’ function allows you to download your Statement Savings and Personal Chequing account balances and transaction information to Quicken or Money software. The following are HSBC-supported versions of Quicken and Microsoft Money:

Quicken:        2000 to 2004
MS Money:     2000 to 2004

Am I able to download my credit card balances and transactions to my personal financial management software?

Yes, you can download both your credit card and account balances and transactions to your personal financial management software.

Can I request a stop payment on a HSBC cheque through Online Banking?

Yes, you can request a stop payment on one or more HSBC cheques through Internet Banking. Simply select ‘Services’ from the left menu. Then select ‘Stop Cheque.’

Can I order more cheques online?

Yes, just choose ‘Order Chequebook’ from the ‘Services’ menu to order a new chequebook. You will receive a confirmation of your request in your ‘Contact centre – Read messages’ inbox.

Do I have to order new cheque books?

While not necessary, it is recommended that you order new cheque books which will display your new account number. New cheque books can be requested in Online Banking by clicking on ‘Order cheque book’ from the ‘Services’ menu in the left navigation.

Will I receive my cheque images in the mail if I sign up for e-Statement delivery?

If you sign up for Online Banking’s e-Statement delivery service, you will receive ALL your account statements electronically through Online Banking. Your paper statements will cease to be sent to you, including cheque images. Cheque images are NOT included in the electronic version of your statement.

Can I request e-Statement delivery for joint accounts?

Yes. You can request e-Statement delivery for your joint accounts. However, if the other joint party has NOT signed up for our e-Statement delivery service paper statements will continue to be sent to you by post. To have all your joint account statements electronically sent through Internet Banking you must ensure that both parties have signed up for the service.

Can I add accounts to my Online Banking profile?

Yes, you can add eligible accounts to your Online Banking profile. Just click ‘Services’ from the left menu then ‘Select accounts’.This section provides you with the option to add (or remove) accounts to your Online Banking 'Account summary' screen. The new account will appear in your Internet Banking portfolio instantly.

Can I bookmark the site for greater convenience?

Yes, just go to www.hsbc.bm and utilizing your browser menu, click on ‘Favourites’ if you use Internet Explorer or ‘Bookmarks’ if you use Firefox.

Can I update my address and other personal information online?

You are able to update some personal details online, but you cannot update your contact information at the present time. This information can be updated through the contact centre or in branch. However, you can view your contact information (address, phone, email address) and other information we have in your personal profile. Select 'Services' from the left navigation menu and then select 'Update personal details' or 'Update correspondence addresses'.

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Limits

Is there a maximum deposit limit when opening new accounts in Online Banking?

Yes. New HSBC Statement Savings, Personal Chequing and Call and Fixed Deposit accounts opened online that do not involve foreign exchange can be opened with a maximum deposit of $500,000 (where the amount to transfer is in the same currency as the amount to deposit). New account openings that require foreign exchange can be opened with a maximum deposit of BMD $250,000 or the currency equivalent.

Are there transaction limits for Online Banking?

Yes. With Online Banking, you are restricted to certain monetary limits. These limits are the maximum combined total that you can transact over Online Banking over a 24-hour period. These limits have been set to enhance existing security levels. The chart below outlines these monetary limits:

  • Transfers to other HSBC accounts
  • Pre-designated: any number of transfers to a combined total of BMD $100,000
  • Non-pre-designated: any number of transfers to a combined total of BMD $50,000

  • Transfers to Bermuda Dollar accounts with other banks
  • Pre-designated: any number of transfers to a combined total of BMD $100,000
  • Non-pre-designated: any number of transfers to a combined total of BMD $50,000

  • Transfer involving foreign currency accounts with other banks
  • Pre-designated: any number of transfers to a combined total of BMD $100,000 or the currency equivalent
  • Non-pre-designated: any number of transfers to a combined total of BMD $50,000 or the currency equivalent

  • Opening new account
  • Open new account (when the amount to transfer is in the same currency as the amount to be deposited into the new account): $500,000
  • Open new account (when foreign exchange is required to make an initial deposit into the new account): BMD $200,000, (i.e., any single transaction that is over has a maximum limit of BMD $200,000, or the currency equivalent.

  • Paying Bermuda Dollar bills: BMD $50,000

  • Transfer requests within your own HSBC accounts: BMD $500,000

If you attempt to make a transaction of any kind that exceeds these limits (or the currency equivalents), a warning message will appear on the screen advising you to contact HSBC to process the instruction on your behalf. It may be necessary for you to provide us with faxed instructions to confirm your request.

What are Pre-designated and Non-pre-designated transaction limits?

Pre-designated transaction limits affect third party payees or transfer templates set up by HSBC on your behalf or payees and templates converted from EasyLink Online into Online Banking.

Non-pre-designated transaction limits affect transfer templates set up by you online in Online Banking. For security reasons, these limits are lower than Pre-designated transaction limits. A Non-designated limit can be converted to a Pre-designated limit. In order to make this request please contact Internet Banking Support on (+441) 299 5959 to discuss available options.

How can I increase my daily transaction limits?

Third party payees and wire templates converted from EasyLink Online into Online Banking have a total daily transaction limit of BMD $100,000. These default limits are called Pre-designated transaction limits. New transfer templates set up in Online Banking are defaulted to a total daily transaction limit of BMD $50,000. These limits are called Non-pre-designated transaction limits. A Non-pre-designated limit can be converted to a Pre-designated limit. In order to make this request please contact Internet Banking Support on (+ 441) 299 5959 to discuss available options.

Can I increase my Online Banking bill payee and transfer limits?

Yes. You can increase your daily transaction limit amounts for payments and transfers to non-designated payees made in Online Banking. To increase your daily limits please contact Internet Banking Support for assistance on (+441) 299 5959.

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Online security

How secure is Online Banking?

Security is one of our top priorities for you online. Please refer to our Security webpages for full details on computer security, Rapport software and the HSBC Security Device.

How do I know I am visiting a secured Internet site?

Online Banking is accessed through a secured Internet site to help keep your online financial information private and secure. You will know you are at a secured site when you see the 'https://' in the address field on your browser and the padlock symbol at the bottom of your screen.

What can I do to keep safe while banking online?

Never disclose your  security details to others and always use a secure Internet connection. Read our Security webpages to find out more.

Can I change my Security details?

Yes, from the ‘Services’ section on the left menu you can choose to change your Password, Memorable Question and Answer or even your Security Questions and Answers. When changing your security details, be sure to create something that no one could guess. You should memorise these details and never write them down. This will help prevent unauthorized individuals from accessing your financial information.

What do I do if I have forgotten my Memorable Answer?

To reset your Memorable Answer please follow the below steps:

  1. Enter you security code from your HSBC Security Device
  2. Enter the indicated characters from your existing Password
  3. Set up a NEW Memorable Answer for use when logging on to Internet Banking.
  4. Re-enter your NEW Memorable Answer to confirm you have keyed it in correctly.

Once you have completed these steps you will receive the 'Change Memorable Answer – Acknowledgement’ screen stating that your Online Banking Memorable Answer has been successfully reset. Remember to use this new answer the next time you logon so to avoid locking yourself out of the system.

What do I do if I have forgotten my username?

If you have forgotten your Username and are having trouble accessing this service, please call Internet Banking Support on (+ 441) 299 5959 for assistance.

What do I do if I have forgotten my Password?

To reset your password please follow the steps below.

  1. Enter you security code from your HSBC Security Device
  2. Enter Existing Memorable Answer
  3. Set up a NEW Password for use when logging on to Internet Banking.
  4. Re-enter your NEW Password to confirm you have keyed it in correctly.

Once you have completed these steps you will receive a ‘Change Password – Acknowledgement’ screen stating that your Internet Banking  Password has been successfully reset. Remember to use this new Password the next time you logon so to avoid locking yourself out of the system.

What do I do if I have forgotten my security device PIN?

Please read our HSBC Security Device FAQs webpage for information on your security device.

What do I do if I have forgotten my Memorable Answer and Password?

If you have forgotten your Memorable Answer and Password you are able to complete an Offline security reset. By following the simple steps below you will be able to set up NEW security details to gain access to the service.

  1. Select a Memorable Question
  2. Enter Memorable Answer
  3. Confirm Memorable Answer
  4. Enter Password
  5. Confirm Password
  6. Select a ‘Security question 1’ from the pull down menu
  7. Enter your ‘Security answer 1’
  8. Confirm your ‘Security answer’
  9. Select a ‘Security question 2’ from the pull down menu
  10. Enter your ‘Security answer 2’
  11. Confirm your ‘Security answer 2’
  12. Click 'Continue' - You will get an ‘Acknowledgement’ page stating that your security information reset has been submitted

IMPORTANT: In order to log on using this NEW security information, you will need to contact us on (+1 441) 299 5959 and quote your confirmation numbers so that we may perform a security check and complete your reset request.

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Foreign Currency Purchase Tax (FCPT)

Please be reminded that under Bermuda Law, HSBC Bermuda has an obligation to collect Foreign Currency Purchase Tax (FCPT) on any purchase of foreign currency using Bermuda Dollars ("BMD"). This Bermuda Government tax applies to the purchase of foreign currency using an HSBC Bermuda BMD account or the conversion of BMD received from another Bank into your foreign currency accounts. Certain classes of entities and individuals are exempt from FCPT.

What is Foreign Currency Purchase Tax (FCPT)?

Foreign Currency Purchase Tax, contained under the authority of the Foreign Currency Purchase Tax Act of 1975, is a tax levied by the Bermuda Government when foreign currency is purchased from a local bank by a local resident.  It affects all foreign currency exchanged by local residents from Bermuda Dollars into foreign currency, including conversions from Bermuda Dollars to US Dollars.

How will Foreign Currency Purchase Tax affect me?

Effective 1 April 2010, Foreign Currency Purchase Tax will increase from 0.50 percent to 1.00 percent.  All resident individuals, trusts, companies and funds purchasing foreign currency will be charged the Tax for every Bermuda Dollar exchanged into a foreign currency.  HSBC Bermuda is responsible for collecting the tax on each transaction and paying it to the Government.

Why did Foreign Currency Purchase Tax increase effective 1 April 2010?

The Foreign Currency Purchase Tax increase is a government mandate in the National Budget 2010/11, which was announced on 26 February 2010.

Does HSBC Bermuda charge any additional fees for foreign currency exchange?

HSBC Bermuda does charge a foreign exchange margin to cover its costs of handling foreign currency and covering this position in the foreign exchange markets.

Who receives the Foreign Currency Purchase Tax that is levied on foreign currency exchange?

Foreign Currency Purchase Tax is collected and remitted to the Tax Commissioner by HSBC Bermuda.

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