08 November 2017

Corporate Customer Advisory: Next Day Funds Availability for Check Deposits effective 20 Nov 2017

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Call us on: (02) 85-878

Dear Valued Customer,

In connection with HSBC’s implementation of the Check Image Clearing System (“CICS”), please be informed that effective 20 November 2017, proceeds of checks deposited to HSBC accounts on or before the clearing cut-off will be available for withdrawal by 12 p.m. the next banking day.

Please be guided accordingly of the clearing cut-offs and the corresponding funds availability.

For questions or clarifications, you may reach out to your Relationship Manager or Client Service Manager. Thank you

  Clearing Cut-off Funds Availability
Onsite checks collected via IRS Express and/or National Network Collections Service 12:00 p.m. 12 p.m. Next Banking day, if checks are drawn against other banks or HSBC Savings

Same day availability for checks drawn against HSBC
Matured post-dated checks1
Over-the-counter checks deposited at HSBC branches 2:00 p.m.
Over-the-counter checks deposited at Alliance Bank branches2 3:00 p.m. Same day availability

1 Post-dated checks must be sent to HSBC for warehousing at least 2 business days prior to maturity date and must be compliant to the prescribed CICS check format.

2 Operating hours of Alliance Banks may extend beyond 3 p.m. Please take note that checks deposited beyond the 3 p.m. cutoff are considered next day’s transactions and funds availability shall be adjusted accordingly.

 

Issued by The Hongkong and Shanghai Banking Corporation Limited.

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