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Important Service Advisory: Larger Cash Withdrawals Exceeding ₱500,000.00

To our Valued Customer,

We wish to inform you that the Bangko Sentral ng Pilipinas (BSP), through Circular No. 1218, Series of 2025, has issued new regulations on large value cash transactions effective, Monday, 06 October 2025.

Large cash withdrawals exceeding ₱500,000.00 or its foreign currency equivalent shall only be made, facilitated, or transacted through cheque payment, fund transfer, direct credit to deposit accounts, and/or other form using digital platform or the HSBCnet app. The PHP500,000.00 limit maybe carried out in a single transaction or in series of transactions within one (1) banking day.

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HSBC Connect

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Get fast, secure and efficient cash management processes with direct host-to-host connectivity.

HSBC Connect makes it easier to process large volumes of payables and receivables and handle your financial data on a global scale. An automated, flexible and secure host-to-host channel which helps you:

  • Simplify your operations and processes
  • Achieve greater efficiency while reducing costs
  • Maximise the return on investment in Enterprise Resource Planning (ERP)/Treasury Management Systems (TMS)

If you have global or regional cash management capabilities, HSBC Connect allows you to centralise payment operations and submit large numbers of payments at one time. Plus you can get automated reconciliation services and a high level of straight-through processing (STP).


What are the key benefits?

  • One global interface covering more than 50 countries across the Americas, Asia-Pacific, Europe and the Middle East
  • Mitigate the risk of fraud with fewer manual operations and more automated processes
  • Reduced costs from simplifying bank relationships and proprietary systems
  • Streamlined operations and less time spent on file formatting and maintenance
  • Enhanced security and encryption protocols, including FTPS, SFTP, HTTPS SOAP, PGP, AS2
  • Regional and global support for Treasury Centres and Shared Service Centres

How it works

HSBC Connect gives you a direct link to HSBC through end-to-end integration of your ERP with our account reporting and payment systems. This single interface provides you with a fully automated cash management solution.

You can submit large volumes of payments and collections data directly and securely, and we’ll send confirmations, reports, statements and other data to your ERP.

Most standard industry formats are supported, including ISO20022 XML, EDIFACT, SWIFT and local in-country. All transaction data can be sent in one file format – we’ll validate, sort and route your data for processing.

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