Sort Code Changes
Some upcoming changes you should know about
HB04786_99483-3 47295 A5 RFB notes v1 2_17.indd 1
01/06/2017 16:25
HSBC UK
Our ‘ring-fenced’ bank
Will I be in the ring-fenced bank?
We’re changing the way HSBC is
structured in the UK – creating a new
ring-fenced bank called HSBC UK for
our personal and most of our
commercial customers.
If you are currently a personal or commercial
This change is simply a new legal
entity, which ensures we meet the
new banking rules, so we can continue
to help you with all your day to day
financial needs.
}commercial customers categorised as
Non-Bank Financial Institutions, including
HSBC UK customers will continue to
benefit from the knowledge, experience
and financial strength that HSBC has
gained through more than 150 years
in banking.
customer in the UK, you will become part of
the new ring-fenced bank.
Customers remaining in the non ring-fenced
bank include:
Relevant Financial Institutions;
}all of our customers of non-UK branches
of HSBC Bank plc, including Channel
Islands and Isle of Man customers; and
}Global Banking and Markets customers.
What does it mean for me?
We are doing everything we can to make the
transition as smooth as possible, and for the
vast majority of our customers there will be
very little change. We will however need to
make some changes to the accounts of some
of our customers.
These changes should have no impact on how
you interact with us.
2
HB04786_99483-3 47295 A5 RFB notes v1 2_17.indd 2
01/06/2017 16:25
Sort Code and Account Number
Changes
Our sort codes are aligned to either the
Bank Identifier Code (BIC) and
International Bank Account Number
(IBAN) Changes
ring-fenced bank or non ring-fenced bank,
At the same time as changing your sort code
but a small number of sort codes are currently
and account number, we will be changing
shared by both ring-fenced bank and non
the BIC for customers moving to HSBC UK.
ring-fenced bank customers. Therefore we
Changes to your sort code or BIC mean your
will need to move some customers, including
IBAN will also change.
you, to different sort codes which are aligned
You need to know your BIC and IBAN if
to the correct bank.
you receive international payments and
When your accounts are moved to a new
sometimes if you’re sending them.
sort code, your account number(s) will also
You can find your BIC and IBAN in the top
change. This will impact current, savings,
right-hand side of the statement that you
and some loan account holders on specific
receive in the post.
sort codes.
If you currently use debit cards, cheque
books or paying-in books, we will send new
ones to you as a result of this change. Please
contact us on the phone numbers on page 8 if
you do not receive these within 7-10 working
days from the date of change.
We understand that this will cause some
inconvenience and we apologise for this.
However, we’ll do all we can to simplify this
process for you.
We don’t anticipate any changes to our
terms and conditions (other than changing
the legal entity name), and the products,
services and the way you bank today
(online, mobile, through a branch or phone)
will stay the same.
3
HB04786_99483-3 47295 A5 RFB notes v1 2_17.indd 3
01/06/2017 16:25
4
HB04786_99483-3 47295 A5 RFB notes v1 2_17.indd 4
01/06/2017 16:25
FAQs
When the sort code and account number
changes, there are a few things that you will
need to do. Here are some Frequently Asked
Questions to help you.
How long will my existing debit card
remain active for?
Your existing debit card will continue to work
as normal for 60 days from when your new
card is issued.
Once your new card is ready, please destroy
your old card and don’t forget to sign your
new one.
Do I need to update Apple Pay and
Android Pay?
Will I need a new PIN for my debit card?
No, your PIN will remain the same.
How do I activate my new debit card?
Commercial customers do not need to
activate their new cards as they arrive
pre-activated.
Personal customers will need to activate
their new card(s) as soon as it arrives via
one of the following methods:
At a Cash Machine
Just make a transaction or even just a
balance check and your new card will
be automatically activated without any
on-screen notification.
By Online Banking
Select the account you want to activate the
card for, then click on ‘Activate new card’
and follow the instructions.
By Phone
Call 0800 783 5263.
Your Apple Pay and Android Pay details will
be updated automatically.
Do I need to update PayM?
Yes, you will need to re-register your new
details for PayM. You can do this via Online
Banking or the HSBC Mobile Banking App.
What about my regular card payments?
We’ll automatically update any regular
payments you make where you’ve given
‘continuous authority’; eg, an online streaming
or magazine subscription you took out by
providing your card details at time of opening.
You’ll need to update your ‘digital wallet’;
eg, any online retailers you shop with where
the retailer holds your card details. All you’ll
need to do is update your expiry details
and the security CVV number found on the
back of your new card. For the majority of
retailers this is straightforward – just go to
your account section on their site and update
payment details.
5
HB04786_99483-3 47295 A5 RFB notes v1 2_17.indd 5
01/06/2017 16:25
HB04786_99483-3 47295 A5 RFB notes v1 2_17.indd 6
01/06/2017 16:25
What about my Standing Orders and
Direct Debits?
We’ll automatically transfer your Standing
Orders and Direct Debits to your new
account details.
What will happen to payments that are
sent to my ‘old’ account details?
If you receive payments using your ‘old’
account details, including international
payments, we’ll do all we can to ensure the
funds reach your account as normal.
However, please do ensure that you provide
your BIC and IBAN to anyone sending you
funds from abroad.
Will this change affect my credit history
or transaction history?
No, there will be no change to either of these.
Will this change affect my Internet
banking?
No. All account changes will automatically
be updated for you.
Will I still be able to access telephone
banking after my account details
change?
Yes. There is no change to our telephone
banking services as a result of this change,
your telephone security number stays
the same. Once your details have been
changed, you will need to use your new
details when going through the security
questions. If you use your old details you will
transferred to an agent for verification.
Will payments using my old cheque
book/ paying-in book still go through?
If you have a cheque book/ paying-in book
for your account, you will receive a new
cheque book/ paying-in book with your new
account details. This will arrive 7-10 working
days after your details have been changed.
All payments sent or received using your
old cheque book/ paying-in book will go
through. Once you receive your new cheque
book/ paying-in book please remember to
destroy your old one and use the new one.
If you are redirecting my payments, why
do I need to do anything?
HSBC and other banks are using redirection
capabilities to ensure that all payments reach
the right account even where account details
are changing. Unfortunately, we cannot rely
on redirection forever so account details
used by the payer will need to be updated.
The banking industry is working to ensure
that payment details are updated behind
the scenes to keep any inconvenience to a
minimum and this will mean most payment
details will be updated on UK payments (i.e.
those where you do not need to provide
your BIC and IBAN). We ask that you
provide your new sort code and account
details to anyone you receive payments from
as updating the details yourself is the most
secure way to ensure that all payments are
received without delay.
If you are expecting to receive a high value
or international payment (where you need to
provide your BIC and IBAN), you will need
to take action and inform your payer of your
new details so that future payments can
be received directly in to your account. If
international payments are made using your
old BIC and IBAN details they should still
reach your account, although funds may take
longer to reach your account.
7
HB04786_99483-3 47295 A5 RFB notes v1 2_17.indd 7
01/06/2017 16:25
I’ve received some other letters about
sort code and account number changes.
How do I know this is not fraud?
Vigilance is key. Other banks may also be
undertaking similar changes.
However, if something does not look right
or you have any concerns regarding your
HSBC accounts, please contact us using the
numbers listed on this page, which can also
be found on our website.
Where can I get more information from?
Please visit the ring-fencing section of our
website:
www.hsbc.co.uk/ringfencedbank
EasyRead available for Personal
customers
EasyRead uses pictures to support the
meaning of text. It can be helpful for some
people who may struggle with long or
complex documents, such as those with
learning disabilities or people who are not
fluent in English.
If you would like a copy of any letters
connected with this change to your sort
code and account in EasyRead format,
please call us on: 0345 266 1359.
(International Number +44 345 266 1359).
The Financial Conduct Authority (FCA) and
Bank of England (BoE) have also published
some information explaining more about
ring-fencing here.
FCA: www.fca.org.uk/consumers/ring-fencing
BoE: www.bankofengland.co.uk/Publications
Alternatively, you can call our dedicated
ring-fencing helpdesks on:
Personal customers: 0345 266 1359
(International Number +44 345 266 1359)
Commercial customers: 0345 266 1027
(International Number +44 147 069 7133)
This document has been printed on paper
made from responsibly-managed forests.
hsbc.co.uk
Issued by HSBC Bank plc
HSBC Bank plc, Customer Information, PO Box 6201, Coventry CV3 9HW
Printed by St Ives Management Services Ltd.
99515-3 MCP47295 02/17 ©HSBC Bank plc 2017. All Rights Reserved.
HB04786_99483-3 47295 A5 RFB notes v1 2_17.indd 8
01/06/2017 16:25