Applying for an HSBC Online Account

After you install the Payment Automation SuiteApp, apply for an HSBC Online Account. To apply for an HSBC Online Account, go to SuiteBanking > HSBC Application > Apply. To learn what permissions are required to access the HSBC application page, go to Permissions for Role Customization.

Oracle NetSuite is a technology service provider, not a financial institution. HSBC Bank USA, N.A., member FDIC, provides banking services on the NetSuite platform.

Important:

Before you start the application process, go to Setup > Company > Company Information.

The details in the Return Email Address and Return Address fields, including the phone, must be the same as the email, phone, and billing address that you will provide when submitting the application. To provide a phone number on the Company Information page, click Edit next to the Return Address field, and enter the number in the Phone field.

These details, along with the company logo set on Company Information page, will also be used in remittance vouchers. For more information, see Reviewing Remittance Email. Use a company logo that is 250 × 150 pixels or smaller. A larger size will cause the logo to be formatted incorrectly on your remittance voucher. For more information, see Updating Information Included in the Remittance Voucher

The Payment Automation SuiteApp is used in alliance with HSBC. Before you can start using Payment Automation, you must be approved for an HSBC Online Account, and for virtual card payments you will need a provisioned credit limit.

Everywhere a document is requested, uploading the document is required to complete your application, even if you are permitted to proceed to the next step.

HSBC accepts only files that are 10 MB or smaller and that have one of the following extensions:

.bmp
.doc
.docx
.gif
.jpeg
.jpg
.pdf
.pptx
.tiff
.xls
.xlsx

Note that PNG files are not accepted.

The HSBC application process consists of the following stages:

Register

Fill out a short form to determine if your company is eligible to sign up for an HSBC Online Account and an HSBC Virtual Card Account. Only companies in certain industries and regions are eligible for Payment Automation. Existing HSBC customers are currently not eligible.
Account application
- Provide required information and documents in the account application steps that HSBC will review. If additional information is required, HSBC will contact you.
- Required documents:
  - W9 Tax form
  - Ownership Chart – if there are trusts or entities in your company's ownership structure.
  - Copy of identification documents, such as passport or driver's license, of owners or controllers may be required.
Credit application
- Provide required information that HSBC will use to determine your eligibility for an ACH daily settlement limit and virtual card credit line.
- HSBC will send you a set of documents for your review and electronic signature using Adobe Acrobat technology. After you sign and return all documents, HSBC will complete the review, and process the application. Adobe and Acrobat are either registered trademarks or trademarks of Adobe in the United States or other countries.
- HSBC will notify you about the outcome of your application. You may be approved only for an HSBC Online Account for ACH and check payments, and no HSBC Virtual Card account. In this case, you will be able to:
  - pay vendors with ACH and check payments.
  - use the same features without access to the Virtual Card account:
    - Payment Automation dashboard
    - Bulk and single payment processing
    - Bank transfers
    - Approval routing
    - Automated reconciliation

The HSBC review process typically takes between five and seven business days to complete. Oracle NetSuite does not influence the result of the application process in any way.

You will receive an email message whenever the application status changes. You can follow the status of your application at any time on the Payment Automation dashboard on the NetSuite platform.

If your application is inactive for 60 days, it will be declined for incompleteness. To return to an unfinished HSBC application, go to SuiteBanking > HSBC Application > Apply.

Important:

If your application is declined, you cannot submit another application.

You can access your HSBC Online Account only through NetSuite. For information about getting assistance, see Customer Support.

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