19 November 2021
Dear Valued Customers,

Notification on the revision of Business Vantage Account/-i Service Fee

Please be informed that effective 1st of January 2022, HSBC Bank Malaysia Berhad and HSBC Amanah Malaysia Berhad will revise the Account Service Fee for Business Vantage Account/-i as below

The revision of such fee will be applicable to both existing and new corporate Business Vantage Account/-i accountholders, irrespective of accountholder’s borrowing status. For more information on our fees and charges, please visit our website at:

HSBC Bank Malaysia Berhad

HSBC Amanah Malaysia Berhad

Notice by Bank Negara Malaysia on LIBOR Contracts Cessation by 31 December 2021 (PDF, 456KB)

5 August 2021
Dear Valued Customers,

We would like to inform that the Relationship Terms of Business has been revised on 5^th August 2021 for all new and existing customers of HSBC Bank and HSBC Amanah. The amendments made are mainly to provide better clarification on how we process your personal data, update on ways for you to access and correct your data held by HSBC Bank and HSBC Amanah respectively and unsubscribing from marketing mailing list. You may download the revised Relationship Terms of Business from the Quick Link.

2 August 2021
Dear Valued Customers,

We would like to inform that the Malaysia Account Disclosures, which is appended to our Generic Terms and Conditions and supplements the Master Services Agreement and the Malaysia Country Conditions have been revised on 2 August 2021 for all new and existing customers of HSBC Bank and HSBC Amanah.

The amendments made are mainly to provide better clarification on how we process your personal data, update on ways for you to access and correct your data held by the HSBC Bank and HSBC Amanah respectively and unsubscribing from marketing mailing list. You may download the revised Malaysia Account Disclosures from the Quick Link.

Dear Valued Customers,
Date: 26 July 2021

In light of the continuous service improvement to our accountholders, HSBC Bank Malaysia Berhad and HSBC Amanah Malaysia Berhad (collectively, “HSBC”) have reviewed the Account Service Fee charged to our corporate customers within the Wholesale Banking segment (Global Banking and Commercial Banking customers).

As such, we wish to inform you that the Account Service Fee will be temporarily waived on your Current Account/-i for the period of July 2021 until December 2021, and no current Account Service Fee will be charged for this period.

The temporary waiver shall have no impact to the existing services provided under the Current Account/-i. Please note that the temporary waiver is not applicable for financing related accounts and products. For avoidance of doubt, this temporary waiver is on discretionary basis.

The Account Service Fee shall resume effective January 2022, and you will be notified accordingly should there be any changes to the Account Service Fee.

Kindly reach out to your Relationship Manager if you have any further queries or need additional assistance.

HSBC is committed and continues to comply with sanctions laws and regulations of the European Union, Hong Kong, the United Kingdom, the United Nations, the United States, and applicable sanctions laws and regulations in the jurisdictions which HSBC operates, including Malaysia.

This means that HSBC will take necessary measures (including but not limited to customer/ transaction screening) to safeguard HSBC and customers’ money from financial crime as well as the integrity of our financial system.

While HSBC seeks to investigate the customer alerts or transactions (that are stopped in HSBC’s screening system) in a reasonable timeframe, it may result in delays to the processing of customer transactions while additional due diligence is conducted and information is obtained on the nature of the underlying transaction or the parties involved.

If you have further inquiry on this process/ HSBC Sanctions Policy, please contact your Relationship Manager or https://www.business.hsbc.com.my/en-gb/contact-us.

We seek your understanding that the spirit of this measure aims to ensure we continue to be your most dependable bank in safeguarding your monies entrusted with us.

Thank you for your continued patronage of HSBC Bank and HSBC Amanah. We wish to inform you that we will be closing 13 branches as listed below on 31 December 2021.

From 1 January 2022 (“Effective Date”), please be informed that the location of your home branch, if listed in the list of ‘Current Branch (To Be Closed)’, will change to the corresponding ‘New Home Branch’ stated in the table below.

Please be assured that there will be no changes to any of your account(s) with us and your account number(s) along with other related facilities will remain unchanged. In addition, you may also conduct your banking transactions seamlessly via any of the following channels:

a) Visit any of our 54 branches nationwide, using our Branch Finder that enables you to locate the nearest branch or ATM. You may use the following links https://www.business.hsbc.com.my/en-gb/branch-locator or https://www.business.hsbcamanah.com.my/en-gb/branch-locator.

b) Use our Digital Banking platforms such as HSBCnet and HSBCnet Mobile, at your convenience, for your day-to-day banking needs, with 24x7 access to services like Account Overviews, Fund Transfers, Bill Payments and more.

c) Telephone Banking – Please visit https://www.business.hsbc.com.my/en-gb/contact-us for our contact numbers.

We attach a list of frequently asked questions (FAQs) to address any concerns you may have. You may reach out to your Relationship Manager or our teams at https://www.business.hsbc.com.my/en-gb/contact-us if you have any further queries or need additional assistance.

Frequently Asked Questions (FAQs)

1. Why is my home branch ceasing operations? Or Why is this branch being closed?

   We regularly review our products and services, including our branch coverage. Our branch network remains a crucial part of our strategy, but fewer people are using our branches and more people are choosing to bank online, over the telephone or with their mobile phone.

2. Is HSBC scaling back its Malaysian operations? Or Is HSBC exiting Malaysia?

   Not at all. Malaysia is a priority market for HSBC and we have been and will continue to invest in our people, infrastructure and technology. As such HSBC remains highly committed to Malaysia and to retaining our position as a leading international financial institution in the country. We have a long history of over 130 years in the country and plan to continue serving our customers and investing in our people, network and businesses. We assure you that the changes we’re making will ensure we have a more viable operation for the long term.

3. How does this impact me as a customer? Do I have to go to the New Home Branch?

   Your account number and any other holdings with us will stay the same, so you don’t need to do anything differently. You can continue to use any of our branches as well as our Online Banking, Mobile Banking App and telephone channels.

4. Will I be able to obtain Shariah compliant products / services from the New Home Branch?

   Yes, please be assured that all our representatives at the New Home Branch are trained to address your queries pertaining to Shariah compliant product / services. The same applies to all of our branch representatives nationwide.

5. Will my account numbers change?

   No, all your account numbers with the bank remain the same.

6. Do I have to change my banking facilities – Business ATM / Amanah Business ATM Card, Corporate Card and HSBCnet?

   No, these services related to these Banking facilities will continue as they are currently, since these services are not dependent on your Home Branch.

7. I have an on-going transaction with my Current Branch, what will become of this?

   We endeavor to make this transition as seamless as possible for our customers. As of the Effective Date, if you have any outstanding matters, our current branch management team will ensure that these matters are duly handed-over to our representatives at your New Home Branch, for them to follow up. If you have any further questions with regards to this matter, you may contact your Relationship Manager or the either branches via the contact numbers stated above in the letter.

8. I am concerned/ I need more details, who can I speak to further regarding this matter?

   If you need further assistance or clarification, please contact your Relationship Manager or our HSBC Customer Services Team at 1300 88 1388 or +603 8321 5400 (International). You may also visit our website at www.business.hsbc.com.my for any further updates to this initiative.

9. Can I have my account moved to another branch?

   You can use any of our branches without moving your account.

10. I use my Current Branch frequently, traveling to the New Home Branch will be difficult.

    There are alternative ways of banking with us that could reduce the need to visit a branch so often, as majority of our branch services are also now available online or on our HSBCnet Mobile Banking App. If you need more information, you can contact your Relationship Manager who will be happy to discuss the options available to you.

11. I would like to close my accounts with HSBC. Who should I speak to?

    We apologise for any inconvenience caused and would like to assure you that you may continue to bank with us at any of our other branches. If you need more information, you can contact your Relationship Manager or reach out to us at the branches or at 1300 88 1388 or +603 8321 5400 (International) and we will be happy to discuss the options available to you.

SME customers whose financial condition has been adversely affected by the pandemic will have the choice to select deferment of interest / profit and principal repayments for 6 months or a 50% reduction in interest / profit / principal repayments for a period of 6 months. HSBC fully supports these options and we have prepared a set of FAQs so that you can see precisely what the targeted repayment assistance covers and how to make the selection.

Please click here to make your selection.

To serve you better as an international bank with access to global markets, we have amended our Generic Terms and Conditions which governs your HSBC/HSBC Amanah accounts and related services. Our new Generic Terms and Conditions, which can be found at https://www.business.hsbc.com.my/en-gb/my/generic/banking-terms-and-conditions, have a framework structure that comprises following components:

• the Master Services Agreement (including the Confidentiality and Regulatory Annex), which sets out the essential legal terms governing our relationship with you and all our corporate customers throughout the world;
• the Malaysia Country Conditions, which sets out Malaysia-specific terms necessary from a local legal, regulatory and operational perspective;
• the Malaysia Account Disclosures; which supplements the Master Services Agreement and the Malaysia Country Conditions; and
• the E-Channel Security Procedures, which sets out the security protocol and measures for those of you who use our digital banking platform, HSBCnet.

Why the change?

• Quick and Easy Access to our Products and International Network

  Our new Generic Terms and Conditions have a framework structure which will now give you quicker and easier access to our HSBC network in other countries, including opening accounts in countries which use the same framework structure. As these countries use the same Master Service Agreement, all you will need to do is to be familiarised with the Country Conditions and the Account Disclosures in the relevant country(ies) in which you intend to open account(s).

• Ease of Understanding

  Our new Generic Terms and Conditions are shorter, easier to read and well structured, with our commitments and your obligations set out more clearly.

• Fair Conduct Principle

  We are constantly reviewing our terms and conditions with our customers to make sure that we comply with a fair conduct principle to always treat our customers fairly. The new Generic Terms and Conditions seek to resonate with our regulators’ fairness principles and the HSBC approach to conduct. 

What are the key changes?

• The new Generic Terms and Conditions do not change the terms governing our relationship with you and/or your use of the products or services materially. The new Generic Terms and Conditions says the same things as the previous version of the General Terms and Conditions (i.e. the August 2019 Edition, for both HSBC and HSBC Amanah), but in shorter and clearer language.
• As the new Generic Terms and Conditions have a new structure, you will find that: (a) the numbering of provisions/ clauses are now different; (b) some terms are not found in the Master Services Agreement, but rather in the Malaysia Country Conditions, or in the Malaysia Account Disclosures, or even in the Specific Terms and Conditions (if they are product-related).

   

  For example:

  1. Clause 10 of the previous version of the Generic Terms and Conditions on “the Collection, Processing and Sharing of Customer Information” can now be found in the Confidentiality and Regulatory Annex to the Master Services Agreement.
  2. Clause 14 of the previous version of the Generic Terms and Conditions on “Tax Compliance” can now be found in Clauses 3 and 4 of the Confidentiality and Regulatory Annex to the Master Services Agreement.
  3. Clause 8 of the previous version of the Generic Terms and Conditions on “Financial Crime Risk Management Activity” can now be found in Clause 6 of the Confidentiality and Regulatory Annex to the Master Services Agreement.
  4. Clause 7 of the previous version of the Generic Terms and Conditions on “Amendment of Terms & Conditions” can now be found in Clauses 13.1 and 13.2 of the Master Services Agreement, reading together with Clause 10 of the Malaysia Country Conditions.
  5. Clause 40 (or Clause 41 for HSBC Amanah) of the previous version Generic Terms and Conditions on “Definitions” can now be found in Clause 21 of the Master Services Agreement. 
  6. Information about tariffs and charges, statements and our complaints handling procedures are now set out in the Malaysia Account Disclosures.
  7. Some Malaysia-specific provisions are now found in the Malaysia Country Conditions.
• We will still keep the previous version of the Generic Terms and Conditions (i.e. the August 2019 Edition, for both HSBC and HSBC Amanah) on our website (which can be found here at https://www.business.hsbc.com.my/en-gb/my/generic/banking-terms-and-conditions  for your reference until 31 December 2020. For the sake of clarity, the new Generic Terms and Conditions shall become effective on the effective date(s) mentioned below.

What else do you need to know?

• If you have obtained credit facilities/ financing arrangement from HSBC/HSBC Amanah and the loan/ financing documents (e.g. facilities offer letters, facility agreement, security documents) incorporate by reference certain provisions from the previous version of the Generic Terms and Conditions, the relevant provisions in the new Generic Terms and Conditions (which replace the similar/ equivalent provisions in the previous version of the Generic Terms and Conditions) will be applicable from the effective date(s) mentioned below.
• If you have signed any other agreements and documents with HSBC/HSBC Amanah which make any reference to the Generic Terms and Conditions, you shall refer to this new Generic Terms and Conditions from the effective date(s) below.

Effective Date:
This new Generic Terms and Conditions becomes effective, as follows:

• New Customers of HSBC – 18 September 2020
• Existing Customers of HSBC (as of [17 September 2020) – 1 November 2020

As we are updating our Generic Terms and Conditions (for both HSBC and HSBC Amanah) to serve you better, we have also amended our Specific Terms & Conditions which relate to your Commercial Banking accounts and certain services provided by HSBC/ HSBC Amanah.

What are the changes?

1. The following clause has been revised as the relevant terms and conditions in the previous version of the Generic Terms and Conditions (i.e. the August 2019 Edition) have now been moved to the Specific Terms & Conditions:
• Business ATM Card (BAC)
2. The following clauses have now been added to the Specific Terms & Conditions as they have been moved from the previous version of the Generic Terms and Conditions (i.e. the August 2019 Edition):
   • Cheque & Cash Deposits
   • Foreign Currency Cheques
   • Inward Remittances
   • Outward Remittances
   • Carrying Out Payment/ Remittance Instructions
   • Carrying Out Standing/ Periodic Instructions
   • Autopay Services

The revised Specific Terms & Conditions for both HSBC and HSBC Amanah (i.e. the September 2020 Edition) can be downloaded here: https://www.business.hsbc.com.my/en-gb/my/generic/banking-terms-and-conditions.

We will still keep the previous version of the Specific Terms & Conditions (i.e. the November 2019 Edition for HSBC and the April 2020 Edition for HSBC Amanah) on our website (which can be found here: https://www.business.hsbc.com.my/en-gb/my/generic/banking-terms-and-conditions) for your reference until 31 December 2020. For the sake of clarity, the revised Specific Terms & Conditions shall become effective on the effective date(s) mentioned below.

Effective Date:
The revised Specific Terms & Conditions (i.e. the September 2020 Edition for both HSBC and HSBC Amanah) become effective, as follows:

• New Customers of HSBC/HSBC Amanah – 18 September 2020
• Existing Customers of HSBC/ HSBC Amanah (as of 17 September 2020) – 1 November 2020

• Clause 2 - Collection, Processing And Sharing Of Customer Information
• Clause 4 - Financial Crime Risk Management Activity
• Clause 6.4 – Notice
• Definition Schedule

• 28 August 2019 for new customers of HSBC
• 18 September 2019 for existing customers of HSBC as at 28 August 2019

• Business ATM Card (BAC)
• Business SMS Alert (BSA)
• Business Cheque Report (BCR)
• Business Telephone Banking (BTB)

• 28 August 2019 for new customers of HSBC
• 18 September 2019 for existing customers of HSBC as at 28 August 2019

• Other Export Charges
  Reimbursement Claim fee of RM100 which is applicable for reimbursement claims under Documentary Credits opened by our Group Offices or by Correspondent Banks has been demised where all reimbursement claim charges are streamlined under Export Telegraphic Transfer (TT/DD) at RM30 only.
• The charges description for Receivables Finance are now better explained and streamlined with your Receivables Finance (RF) legal agreement as follows:
• Service Charge (In some RF legal agreements, it is being referred to as “Limited Recourse Fee”).
• Facility Set-up Fee (referred to as Arrangement Fee in some RF legal agreements)
• Annual Fee (as stated in the RF legal agreement, is waived for Small and Medium Size Enterprises)
• Late Payment Feesapplicable to all loans/financing/payment of Trade Instrument e.g. Bank Guarantee/Documentary Credit that remains unpaid at maturity and as specified in your Facility Offer Letters, has been reflected in the published tariff as follows:
• 1% over and above the prescribed interest rate as stipulated in the legal agreement with customer (e.g. Facility Offer Letter); OR
• 3.5% above the Bank’s prevailing Cost of Funds; OR
• Such other rate as determined by the Bank from time to time

Please refer to the updated published tariff at www.hsbc.com.my for further details.

Our Trade representative is available to help if you have any questions. You may contact us at:
Client Service Team
Tel: 1-300-88-1099
Email: gtrf.client.services.my@hsbc.com.my