Business and Corporate Service Charges

Effective 1st November 2022

HSBC Schedule of Business Fees and Prices

Business Credit Card


	Old Fee	Fee as of September 1, 2023
Overlimit Fee	$35 per transaction	$35 One-time charge

For a complete listing of Personal Fees (including fees for Small Business & Charities) click here

Electronic Banking

HSBCnet

HSBCnet
Inquiry Only Profile	$10.00/month
Domestic Profile	$25.00/month
International Profile*	$40.00/month
Over 5 accounts	$15.00/account
Over 100 accounts	$7.00/account
Non-HSBC Bermuda accounts	$5.00/account
Over 3 users	$5.00/user
Additional/replacement tokens	$5.00/each

*International profile includes File Upload. One time set up/testing fee of $800 is applied if you require File Upload set up

HSBC Connect, SWIFT FileACT

HSBC Connect, SWIFT FileACT
Domestic
Set-up Fee	$800.00/project
Monthly Fee	$250.00/profile, mailbox or DN
Regional
Set-up Fee	$1,500.00/project
Monthly Fee	$250.00/profile, mailbox or DN
International
Set-up Fee	$3,500.00/project
Monthly Fee	$550.00/profile, mailbox or DN

SWIFT FIN/Concentrator

SWIFT FIN/Concentrator
Set-up	$1,500.00/project
Monthly Fee	$250.00/BIC

Payment File Fees

Payment File Fees
Complex Integrate Files i.e. XML, PAYMUL, iFIle, etc.	$10.00/file
Standard / High Value Payment Files i.e. MT103, MT101, etc..	$5.00/file
Simple / Local Files i.e. domestic formats	No Charge

Global Information Reporting (GIR) via SWIFTNet, HSBC Connect or HSBCnet (MT940, BAI2, XML, CSV, MT942)

Global Information Reporting (GIR) via SWIFTNet, HSBC Connect or HSBCnet (MT940, BAI2, XML, CSV, MT942)
End of Day Statements (up to 10 accounts)	$30.00/account
End of Day Statements (over 11 accounts)	$30.00/account
Intraday Statements	$55.00/account
Set-up Fee (up to 10 accounts)	$170.00/profile, mailbox, DN, or BIC
Set-up Fee (over 11 accounts)	$340.00/profile, mailbox, DN, or BIC

Account Services


Unauthorised overdraft	$20/item
Cheque image copy	$2.50/cheque
Returned cheque fee	$20.00/item
Inward dishonour for returned cheque	$25.00/item
Stop payment request	$15.00/cheque
Additional statement (monthly statement to an additional address)	$5.00/statement
Account statement reprint	$10.00/statement
Dormant relationship (after 2 years of inactivity)	$40.00/year
Cash Management Account Monthly Maintenance Fee – Chequing and Savings Account	$15 per account, per month
Cheque Book (100 Cheques Per Book)	$35 per order
Cheque Processing Charges	$3.50 per cheque

Foreign Cheque Deposit


Cheques purchased (at the discretion of HSBC Bermuda)	0.5% or minimum of $50.00/item*
All USD, GBP, CAD cheques drawn on US, UK, Canada banks (10 business day deferral)	$40.00/item
All other currencies	$40.00/item plus all foreign bank charges

*whichever is greater

Payment Services

Note: There is a 3-5 Day turnaround time (TAT) when ordering Drafts/Cashier Orders online through HSBCNet. The 3-5 Day TAT does not include weekends and holidays.

Note: Due to the impact from COVID19 and the current environment, there may be unexpected delays which may impact the normal TAT when processing your Draft/Cashier Order that are beyond the control of HSBC Bank Bermuda Limited.

We appreciate your patience and understanding in these uncertain times.

Incoming

Incoming
Incoming Domestic payments	No charge
Incoming International payments	$6.00/transaction

Outgoing Wires (non-BMD)

Outgoing Wires (non-BMD)
Request initiated via Electronic Channels	$25.00/transaction
Faxed or other instructions for Outgoing Wires	$150.00/transaction
Non receipt/amendment/cancellation on remitted payment	$50.00/transaction plus other banks charges

Outgoing Domestic Wires (BMD only)

Outgoing Domestic Wires (BMD only)
Request initiated via Electronic Channels	$7.00
Faxed or other instructions to a domestic bank	$75.00/transaction

Internal Payments (transfers between HSBC Bermuda accounts)

Internal Payments (transfers between HSBC Bermuda accounts)
Request initiated via Electronic Channels	No Charge
Faxed or other instructions for transfers between HSBC Bermuda accounts	$75.00/transaction

Demand Drafts (overseas clearing)

Demand Drafts (overseas clearing)
Request initiated via Electronic Channels	$25.00/item
Faxed or other instructions for Demand Drafts / Cashiers Orders	$100.00/item
Cancellations	$5.00/item
Stop Payments	$20.00/item
Mailing fee	$10.00/item

Cashiers Orders (local clearing)

Cashiers Orders (local clearing)
Request initiated via Electronic Channels	$25.00/item
Faxed or other instructions for Cashiers Orders	$100.00/item
Cancellations	$5.00/item
Stop Payments	$20.00/item
Mailing fee	$10.00/item

Standing Instructions

Standing Instructions
Set-up fee	$5.00/item
Internal payments (transfers between HSBC Bermuda accounts)	No charge
Outgoing domestic wires (BMD only)	$2.50/item
Outgoing wires, demand drafts or cashiers orders	$5.00/item plus transactional fee
Non-payment due to insufficient funds	$5.00/item
Amendments to standing instructions	$5.00/item

ACH Direct Credits

ACH Direct Credits
Requests for domestic payroll, dividend and creditor payments processing via Electronic Channels
Direct credit (ACH Credit)	$0.25/item
Payment tracing fee (per trace)	$5.00/item
Payment reversal fee	$15.00/item

ACH Direct Debits

ACH Direct Debits
Requests for domestic payment collection processing via Electronic
Direct credit (ACH Credit)	$0.25/item
Payment tracing fee (per trace)	$5.00/item
Payment reversal fee	$15.00/item

Special Handling Payment Requests

Special Handling Payment Requests
Requests initiated by client	$500.00/request minimum
Exception processing fee	$50.00/item
Call-back on manual wire instruction	$50.00/item


Payment Services	Current Pricing	New Tariffs with effect from 1 July’2022
Outgoing Domestic Wires (BMD only)	$0.00 per transaction	$7.00 per transaction

Coin and Note Handling


Local coin and note handling deposit	1.5% of amount handled above $200k per year
Local currency payroll preparation	1.5%/payroll

Deposit Bags

Deposit Bags
Banking cheque deposits, 100 bags	$20.00/order
Banking cash deposits, 100 bags	$60.00/order

* Business Credit Card


Annual fee	$60.00/card
Visa Business interest rate	18%
Late Fee	$35
Over limit fee	$35 One-time charge***
Visa Business Rush Card	$35.00/card
International Transaction fee	0.6%/transaction
USD Denominated - The Business Credit Card is denominated in US dollars. Credit Card statements also reflect the FCPT (Foreign Currency Purchase Tax) of 1.25%, charged by the Bermuda Government (effective 1 APR 2019). This is reflected at the bottom of the Credit Card statement. **As of September 1 Link to Credit Card Agreement - https://www.business.hsbc.bm/en-gb/bm/generic/legal Link to Business Credit Card Fact sheet (380KB)

Other Services


Copy of SWIFT advice	$10.00/copy
Audit Confirmation	$50.00/item
Bank Reference	$35.00/item
Local courier fee	At prevailing rate
International courier fee	Prevailing rates plus $5.00 handling fee
Fax fee	$1.00/page
Dissolved company bank processing fee	$125.00
Research fee	$50.00/hour
TWIST Set-up - One time Set-up Fee	$50
TWIST Monthly Maintenance Fee	$10

Please note

Fees and charges listed in this guide are effective from the date printed on this guide and are subject to change. We will advise you of any changes to these fees either in writing or through advertisements no later than the day the variation takes effect.

Our charges are reviewed regularly to ensure that our products and services remain competitive.

The fees detailed in this guide do not include any additional charges other banks may levy.

Charges levied by overseas correspondents and intermediary banks will be passed on to you.

Where government fees, duties, charges and taxes apply, these are passed on to you.

All fees and charges are shown in Bermuda dollars (represented throughout as $) unless otherwise stated.

For foreign currency accounts, fees are converted from the Bermuda dollar equivalent at the prevailing rate.