Please be informed that Special Deposit Facility ("SDF") accounts will only remain available until 31 March 2018.
SDF was offered to facilitate conversion of export proceeds by resident exporters.
What do you need to know?
Due to a recent announcement from Bank Negara Malaysia (BNM) dated 14 December 2017, effective 1 January 2018, new proceeds from export conversion are not eligible to be placed into the SDF account. However, resident exporters are allowed to withdraw from the SDF account between 1 January 2018 and 31 March 2018.
During this period (1 January 2018 to 31 March 2018) the balances in the SDF account will earn a rate of 3.10 per cent (reduced from 3.25 per cent currently offered) per annum.
The 75 per cent conversion for export proceeds on goods will continue to apply for all export proceeds received by HSBC Bank Malaysia Berhad ("HSBC") as per Bank Negara Malaysia ("BNM")'s Supplementary Notice on Foreign Exchange Administration Rules – Measures to Promote the Development of Malaysian Financial Market dated 2 December 2016.
HSBC will therefore credit the converted export proceeds to your non-SDF MYR current account maintained with the Bank. If you have more than one non-SDF MYR current account with HSBC, the Bank will credit funds to any of these MYR current accounts. If you wish to credit the abovementioned funds to a specific MYR current account with HSBC or have any questions on the above, please contact your Relationship Manager.
In light of the recent strategy to broaden and deepen the Malaysian financial markets, by the Financial Markets Committee, in collaboration with Bank Negara Malaysia (BNM) on 2 December 2016, HSBC would like to inform you of the changes and potential impact in the way you transact with HSBC effective 5 December 2016. Click here to learn more about the changes.
Please be informed that the Business Deposit Card will be inoperative with effect from 14 November 2016.
To ensure none of your transactions are affected, you will still be able to access our express cash deposit and cheque deposit machines ("Express Banking Services") available at all our branches, by keying in the company’s account number to proceed with the cash deposit and cheque scan transactions, respectively.
For more information you may contact our express banking customer service centre at 1300-88-1128 (for local customers) or +603-83215511 (for overseas customers).
After ongoing review and assessments, with effect from 01 January 2016, the Bank will discontinue accepting the fax instructions, free format hand written instructions, hand written Smartform, and e-mail instructions modes of manual payments. Click here to read full notice.
We are pleased to inform you of the new transaction fees for outward RENTAS transactions performed by all HSBC Bank Malaysia Berhad customers, effective from 1 October 2014. Click here to read full notice.
Please be informed that HSBC Amanah Malaysia Berhad ("the Bank") will grant a rebate to commercial banking customers for the unearned profit portion for all sale-based financing facilities, in accordance with Bank Negara Malaysia's "Guidelines on Ibra' (Rebate) for Sale-Based Financing". Click here to read full notice.