How to send bulk payments with HSBC Bank

Looking to process multiple payments from your HSBC business account at once? This guide offers an overview of HSBC’s bulk payment functionality, along with key restrictions and considerations for managing these payments through HSBC online banking.

Contents:

• Who can access bulk payments in HSBC bank
• What you can't do with HSBC bank
• An easier way for HSBC bank business customers to make bulk payments

Who can access bulk payments in HSBC bank

To make bulk payments via HSBC, you require one of the following bank accounts:

• Business accounts
• Accounts using HSBC.net or Business Internet Banking

What you can't do with HSBC bank

Payment restrictions

• Bulk international payments aren't supported: You can only send bulk payments from GBP HSBC accounts to other GBP accounts within the UK.
• You can't send more than 25 payments: Bulk payments can only include up to 25 individual payments.

Account limits

• You can't send more than £100,000 per day: You might find that your payment limit is £25,000 or £50,000 depending on your account type. £100,000 is actually the maximum daily payment limit for an account, which you can obtain subject to approval. To increase your daily payment limit to £100,000 you need to complete HSBC's limit amendment form and pass it to your Relationship Manager or take it into a branch.
• You can't exceed payment limits: Each user with access to the HSBC account has their individual payment limits, which the account owner can amend online.

Limitations when creating payments

• You can't schedule more than 45 days in the future: Bulk payments can only be scheduled between 2 and 45 days in advance.
• You can't find payment file templates online: Your payment file needs to be a Dynamic CSV, BACSSTD18 or ISO XML. You can only get templates for these from your Relationship Management team.

An easier way for HSBC bank business customers to make bulk payments

HSBC's bulk payment system falls short in flexibility, automation, and scalability. With a limit of just 25 payments per batch and a daily cap of £100,000, it’s far from ideal for medium to large businesses seeking efficient payment solutions.

Solve this by using HSBC with Telleroo. HSBC is the 2nd most popular bank amongst Telleroo business customers.

👉 Check out the clickable walkthrough 👈

Solving HSBC bulk payment restrictions

• Send international payments in bulk: When you connect Telleroo to your Xero account, you can send bulk payments for Euro, US Dollar, Australian Dollar, Canadian Dollar, Singapore Dollar and Swiss Franc. You can also upload bulk payment files for Euro and US Dollar.
• Send more than 25 payments in a pay run: You can even send thousands of individual payments in a pay run.

How HSBC customers can send more than £50,000 per day

• Send hundreds of thousands of pounds a day: Telleroo doesn’t have a daily limit.
• Adjustable payment limits: When you sign up, we’ll ask how much you think you’ll send each month. That’ll set your monthly limit, but don’t worry—you can ask to raise it anytime!

How HSBC customers can get rid of manual data entry and schedule bulk payments

• Schedule payments more than 45 days in advance: Schedule and reschedule bulk payments in Telleroo, over 365 days in advance.
• Get file templates online: You can access reusable CSV templates for both GBP and international currency bulk payments via our help centre.
• Connect to your accounting or payroll software: Send your supplier or payroll payments to Telleroo in a few clicks, no export needed. We connect to Xero Bill and Xero Payroll, Employment Hero, Safe HR, Staffology, FreshPay and Buddy.
• Easy import from everywhere else: You can import files from Sage, Moneysoft, BrightPay, and Paycircle without having to make any edits. You can also import a custom file if you're using another payroll software.

🚀 Make bulk payments without the pain - sign up to Telleroo here 🚀

Have a go at creating a bulk payment in Telleroo with a clickable walkthrough: