31 May 2016
Following a periodic review of our products and services, with effect from 9 July 2016 we will only accept US Dollar physical instruments which are drawn on HSBC Group Affiliates (e.g. HSBC USA, HSBC Hong Kong).
These instruments would include both USD cheques as well as USD demand drafts.
The instruments drawn on HSBC Group Affiliates will be sent for clearing through physical collection, which may take 6 or more weeks to be cleared and may incur additional charges including courier and clearing fees. Please refer to the HSBC website for the applicable charges.
After 8 July 2016, any US dollar physical instruments not drawn on HSBC Group Affiliates presented to us will not be accepted for international clearing.
Please note that the local USD cheque clearing will continue on as-is basis.
Your HSBC representative can help you to establish alternate electronic channels through which you can receive electronic US dollar payments.
If you have any questions, please refer to your HSBC contact to discuss further.