Please note that post 31st December 2013, non CTS complaint cheques (cheques not compliant to the Cheque Truncation System (CTS) 2010 standards) will be cleared thrice a week only, until 30th April 2014. Thereafter, they will be cleared twice a week until 31st October 2014. From 1st November 2014, such cheques will be cleared once a week only. This is as per the Reserve Bank of India guidelines.
Do ensure that you deposit CTS compliant cheques (i.e cheques with CTS INDIA watermark) for your credit card repayments to avoid facing delays in clearance and late payment fees. If you do not have a CTS compliant cheque book, please apply with your bank for the same.
As you may be aware that trading in foreign exchange (including through electronic/internet trading portals) is prohibited under the Foreign Exchange Management Act (FEMA), 1999. Further, the Reserve Bank of India (RBI) has clarified that remittance in any form towards overseas foreign exchange trading (including through electronic/internet trading portals or by use of credit/debit cards) is not permitted. RBI has cautioned that any person resident in India collecting and effecting / remitting payments directly /indirectly outside India in any form towards overseas foreign exchange trading through electronic/internet trading portals would make himself/ herself / themselves liable to be proceeded against with for contravention of the Foreign Exchange Management Act (FEMA), 1999 besides being liable for violation of regulations relating to Know Your Customer (KYC) norms / Anti Money Laundering (AML) standards.
Accordingly, please take note of the prohibitions on using your credit/debit card for such unauthorized transactions in contravention to the FEMA & regulations thereunder and that violation(s), if any, would attract penalties or as RBI or the Enforcement Directorate may initiate against such residents.
With effect from 05 Aug 13 we wish to inform that the payment allocation logic (i.e.'Payment Hierarchy') towards payment made to the credit card account is being revised. In the revised 'payment Hierarchy', allocation will first happen to the extent of Minimum payment due, first by the following ' plans' i.e. EMI, Cash advances, Purchase outstanding and Balance Transfer in descending order of interest rates, and within a given 'plan', the payment will be allocated in a predefined order of (1) service charges , (2) Finance Charges , (3) Late payment charges (4) Annual fee and (5) other fees.
The excess payment (if any) over and above Minimum Payment Due will be allocated in same hierarchy as defined above.
For more details, please click here to read the Frequently Asked Questions (FAQs) document.
Kindly note there is a change in the Skypak Drop box locations, request you to click here for information on the skypak drop boxes pertaining to your location
Please note with effect from July 1, 2012 the revised finance charges applicable for Platinum Credit Card will be 3.3% p.m. ie. 39.6% p.a.
Please be advised that applicable Indirect Taxes including service tax and cess would be recovered on all our fees and charges and any other amount liable to tax under prevailing Indirect Tax Laws
Please mention your complete 16 digit credit card number while making payments to your credit card by cash, cheque, electronic transfer or any other channel.
Please do not submit post dated cheques for payment towards your credit card.
Issuance of credit card is at the sole discretion of The Hongkong and Shanghai Banking Corporation Limited, India. All features and benefits are subject to Terms and Conditions.
The Balance Transfer and Loan on Phone facility is applicable to select credit Cardholders. To check your eligibility, please contact the HSBC PhoneBanking Officers.