Send and receive New Payments Platform (NPP) payments with HSBC Australia accounts.
Experience the New Payments Platform (NPP) near-real time payments in Australian dollar (AUD) with eligible HSBC Australia accounts using HSBCnet payment screens and payment files submitted through the File Upload service on HSBCnet, Connect and API.
What are NPP payments?
The NPP payment service allows you to send and receive near real-time payments with other enabled financial institutions in Australia using the NPP payment network.*
NPP payments are immediate payments (payment date = today):
- processed in near real time 24 hours a day, 7 days a week, 365 days a year.
- sent from an NPP-eligible AUD account to an NPP-eligible account with other participating financial institutions in the NPP real-time payment network in Australia, in AUD only.
- sent using a beneficiary's Bank State Branch (BSB) number and account number only (note that HSBC currently does not support PayID).
- less than AUD 10 million per transaction.
Note: payments sent or received on weekends or holidays in Australia will debit your HSBC account and credit the beneficiary account immediately but will be value dated and show on your bank statement for the next business day.
How can Corporates benefit from NPP?
- Real-Time Payments let you make fast payments between accounts. You can pay suppliers, utility bills and refund clients almost instantaneously any time you need, all year round
- Improved visibility and control of cash flow. Real-Time Payments facilitate instant notification on payments and collections.
- Immediate availability of funds. Real-Time Payments mitigates the risk of payment delays associated to traditional payment methods. It also enables corporates to settle payments at the right time to match with incoming flows.
- Enriched data and information. Major Real-Time Payment schemes adopt ISO 20022 format that carries extended fields, thus equipping corporates with more data to improve their reconciliation. NPP allows up to 280 characters of reference text in comparison to BECS (ACH) which allows up to 18 characters.
For more information, please read our comprehensive NPP FAQs document.
