HSBC Business Direct FAQs | HSBC Business Direct

HSBC Business Frequently Asked Questions

Business banking

• How do I open a Business account? What are the requirements?
• Can HSBC fax me a statement? Is there a cost?
• How do I change my address?
• How long does it take for a check to clear?
• What is a monthly analysis charge?
• Can I conduct a wire transfer over the phone?
• How can I view who sent the wire into my account today?
• What is my balance and what are my most recent transactions?

Business credit card

• What is my full balance/payoff balance on my credit card?
• Can I receive a temporary line increase so that I may have more usage on my card?
• Why are my transactions getting declined when I have the available credit?
• When will my payment post?
• How can I see my credit card transactions online?
• If I make a payment to my card instead of the Accounts Payable account, when will credit be available?
• If I make a payment to the Accounts Payable account when will credit be available on the individual's credit card?
• If I do not have an Accounts Payable account and make a payment to my credit card, when is credit available?
• What is the cash transaction fee?
• Why do I have a late fee on my account?
• What is my interest rate and can it be lowered?
• What is the CVV code, where do I find it?
• How do I cancel this card?
• How do I make a payment and what address are my payments to be sent to?

Business banking FAQs

How do I open a Business account? What are the requirements?

If your business is applying for HSBC Business Direct™, an account can be opened by visiting the branch. Your closest branch can be found using the branch locator tool. Should you require assistance in opening a business account, please contact our dedicated Business Customer Service Team¹ at 877.472.2249. Our dedicated Business Customer Service Team¹ can assist in discussing features and benefits and setting up an appointment.

Can HSBC fax me a statement? Is there a cost?

A statement request through Business Customer Service Team can only be mailed to the customer's address we have on file. The statements should arrive within 7 to 10 business days. Duplicate statements requests incur a reprint fee. For alternative methods and delivery please contact our dedicated Business Customer Service Team¹ at 877.472.2249.

How do I change my address?

Business addresses are only changed at a branch location with personal identification and proof of address (a proof of address may include a utility bill with the name of the business and new address).

How long does it take for a check to clear?

The check clearing process follows Federal regulations. Please refer to the Rules for Deposit Accounts.

What is a monthly analysis charge?

An analysis charge is produced on any commercial analyzed account, such as HSBC's Business Direct checking account. A monthly analysis charge occurs at the end of the month as a total of any fees or service charges accrued on the account throughout the month, such as stop payment fees, unavailable funds fees, and insufficient funds fees. Fees are offset by the account's earnings credit. For a breakdown of your monthly analysis charges, please contact your Relationship Manager or visit your local branch.

Can I conduct a wire transfer over the phone?

HSBC USA, N.A. no longer offers Business customers the option to conduct a wire transfer over the phone; all wires must be processed through online banking.

How can I view who sent the wire into my account today?

Until the item posts to your account, those details are not available online. Please contact our dedicated Business Customer Service Team¹ at 877.472.2249 and a representative will provide you those details.

What is my balance and what are my most recent transactions?

Please log on to HSBCnet². You can also contact our dedicated Business Customer Service Team¹ at 877.472.2249 and a representative will provide you those details.

Business credit card FAQs

What is my full balance/payoff balance on my credit card?

HSBC Business Internet Banking will provide a current balance not including pending authorizations. Please contact our dedicated Business Customer Service Team¹ at 877.472.2249 and a representative will provide a payoff amount.

Can I receive a temporary line increase so that I may have more usage on my card?

Temporary credit line increases are determined at the bank's discretion.

Why are my transactions getting declined when I have the available credit?

Transactions are declined for a number of reasons, including, but not limited to credit line availability and delinquency. For more information, please contact our dedicated Business Customer Service Team¹ at 877.472.2249 and a representative will provide further details.

When will my payment post?

Credit card payments will be back dated and posted to your account as of the day of the payment. The payment will be reflected on your account in two business days.

How can I see my credit card transactions online?

Credit card transactions can be viewed on HSBCnet. Payments can be made to credit cards, but not as transfers. They can be made as ACH payments or Bill Payments. If you are not a registered HSBCnet user, please contact our dedicated Business Customer Service Team¹ at 877.472.2249 and a representative will provide additional details.

If I make a payment to my card instead of the Accounts Payable account, when will credit be available?

Credit will become available on both your individual card and the Accounts Payable account after two business days and will be backdated to the date of the payment.

If I make a payment to the Accounts Payable account when will credit be available on the individual's credit card?

Credit will be available on the card when the statement cycles.

If I do not have an Accounts Payable account and make a payment to my credit card, when is credit available?

Credit will become available after two business days and will be backdated to the date of the payment.

What is the cash transaction fee?

For each Loan (Cash Advance) that you obtain via overdraft from your linked business checking account, will result in a Cash Transaction Fee of 3% of the cash advanced, subject to a $5.00 minimum and a $50 maximum.

Why do I have a late fee on my account?

As a reminder, we must receive your minimum payment by the Payment Due date or a Late Fee will be assessed. Please allow at least 7 business days for your payment to reach us by mail and 2-3 business days for online payments.

What is my interest rate and can it be lowered?

Your interest rate is a variable rate based on the prime rate and can be found on your statement or our dedicated Business Customer Service Team¹ can provide it at 877.472.2249. At this time, HSBC does not routinely offer annual interest rate modifications for Small Business Credit Card customers, however if your business has encountered difficulty, your Business Relationship Manager or Branch Manager can review options that may assist you.

What is the CVV code, where do I find it?

The CVV code is often asked for by merchants for them to secure card not present (CNP) transactions occurring over the Internet, by mail, fax or over the phone. In many countries in Western Europe, due to increased attempts at card fraud, it is now mandatory to provide this code when the cardholder is not present in person. This is the three-digit number on the back of your card.

How do I cancel this card?

You may send in a faxed request on business letterhead to 716.841.0650, please include the account number to be cancelled and the cardholder's name or stop in at your local branch.

How do I make a payment and what address are my payments to be sent to?

Online:

HSBCnet - Payments can be made to credit cards via ACH Credits or Bill Payment

Phone:

Dedicated Business Customer Service Team¹: 877.472.2249

Telephone Transfer from an HSBC Checking/Savings Account or APS Check by Phone Processing payment made from a Non-HSBC Deposit Account.

Mail:

Overnight Payment:

Branch:

Payments can be made at any HSBC Bank USA branch location.