Payment Options
Payment Automation supports the following modes of payments:
ACH
Connect your HSBC Online Account to your source bank account, and payment funding will be transferred automatically through ACH direct debit.
ACH payments are deducted from your HSBC Online Account and deposited directly to the vendor's bank account.
Total value of ACH and check payments in a given day may be transacted up to the daily ACH limit. HSBC communicates the daily ACH limit to you after your onboarding is successfully completed. You can see your ACH limit in the HSBC Online Account portlet on the Payment Automation dashboard.
Payments are submitted in batches and typically take three business days to settle.
The ACH batch cut-off time is 8 pm Eastern Time. Payments initiated after 8 pm Eastern Time will be sent at 5 am the next business day.
Virtual Card
After a payment request, a single-use virtual card is generated from the HSBC virtual card account within 15 minutes after being sent for processing. Then, the vendor uses the virtual card number to pay the bills. With the virtual card mode of payment, your HSBC virtual card account is automatically updated and debited to reflect the payment.
The 16-digit virtual card number required to process a payment is communicated to the vendor in the remittance email that is automatically generated. For details, see Reviewing Remittance Email. For more information, see Setting Up Vendors.
A virtual card expires after 30 days. The vendor will receive an automatic email reminder after 7, 14, and 21 days. If a virtual card expires, you will receive an email notification, a cancellation email, and the payment will be voided.
You can have up to 55 days to repay the virtual card depending on when payments are processed in the billing cycle. For more information, see Virtual Card Billing Cycle.
Annual Virtual Card Statement Credit
On your one-year anniversary, you will receive back 1% of the amount of eligible virtual card posted transactions from that period.
The annual statement credit has no upper limit. Transactions that were returned or reported as fraudulent are not eligible.
The balance is accumulated for 12 months. On your one-year anniversary, the credit appears on your virtual card statement.
You can:
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use the credit to reduce your virtual card balance for the current month.
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contact virtual card customer support at 1-800-411-9264 to request a transfer of your credit to your HSBC Online Account.
Check
Connect your HSBC Online Account to your source bank account and payment funding will be transferred automatically through ACH direct debit. Total value of ACH and check payments in a given day may be transacted up to the daily ACH limit.
Use this mode of payment to pay your vendors by check. HSBC will print and deliver physical checks to the vendor.
HSBC check payments are on standard check stock and do not include your logo or digitized signature.
Check payments submitted by 8 pm Eastern Time will be printed and mailed on the second business day.
The checks are mailed by USPS First Class Mail.
The layout of a check payment from the HSBC Check Service:
Related Topics
- Overview
- Key Features
- Current Limitations
- Payment Automation Dashboard
- Payment Batch Cut-Off Times Overview
- Transaction Settlement
- HSBC Processing Fees
- Virtual Card Billing Cycle
- Debit Blocking
- Payment Method Optimization Service
- Statement and Auto-Debit Payment Schedules
- Terms and Conditions
- Customer Support
- Frequently Asked Questions about Payment Automation