What are e-mandates for recurring transactions?
To make recurring online card payments safer and easier for you, Reserve Bank of India (RBI) has put some new measures in place. From 1 October 2021, any mandates you set up for scheduled subscriptions or recurring payments will have added security features.
What are the features of the new e-mandate framework?
The new e-mandate framework offers several benefits:
- Registration of e-mandate with additional factor of authentication (AFA) only
- Seamless processing of subsequent transaction debits for transaction amounts up to INR5,000
- Pre-debit authorization notifications for debits over INR5,000
- Reminder notifications 24 hours before any debit
- Consolidated online view of all recurring transaction mandates set up on your HSBC credit cards
- Option to cancel, pause or resume any particular transaction or e-mandate
How do I register e-mandates on my credit card under new framework?
Here's how to register e-mandates on your credit card:
- Visit the online merchant portal where you want to set up the recurring debits
- Select the service or subscription plan & proceed
- Enter your credit card details and submit
- If your merchant supports recurring transactions for your card, then you will be asked to approve the mandate details shown on the screen
- Once approved, you will be directed to HSBC one-time password (OTP) page to complete the registration with AFA
- Once the OTP is verified, the e-mandate will be activated on your HSBC credit card
How will I know if my registration was successful?
Once your e-mandate is registered successfully, you'll get an SMS as well as an email notification with the mandate details.
What if the mandate details in the SMS and email notification are different from what I had agreed to?
- If you disagree with the mandate details you received on your SMS or email notification, log on to the HSBC MandateHQ portal at https://hsbc.mandatehq.com. There you'll find a consolidated view of all the mandates you have created using your HSBC credit card
- Pause or cancel the mandate using the OTP sent to your registered mobile number
How will subsequent transactions be debited from my card?
You'll receive a reminder notification 24 hours before your payment is due. If the debit is more than INR5,000 you'll need to authorize it before the debit will be processed. If it's INR5,000 or less, the debit will be processed seamlessly on the scheduled date. In both cases you can log into the HSBC MandateHQ portal at https://hsbc.mandatehq.com and pause or cancel the debit before it is processed.
What if my subsequent transaction amount is greater than INR5,000?
You'll receive a notification 24 hours in advance requesting you to authorize any debit that is more than INR5,000. You'll then need to log into the HSBC MandateHQ portal at https://hsbc.mandatehq.com and approve the debit using an OTP. The amount will only be debited after you've authorized the transaction on the portal. Please note you cannot approve the transaction after the scheduled debit date.
Can I pause or cancel a mandate on MandateHQ?
Yes. If you don't agree with the mandate details, you can pause or cancel. "Paused" mandates can be activated again by using "Resume" option. However, "Cancelled" mandates cannot be re-activated or re-reinstated. You'll have to register a fresh mandate in this case.
What are the events where I'll get notifications from the bank?
You'll get SMS and email notifications for:
- successful e-mandate registrations
- reminders 24-hours before scheduled debits
- AFA authorization requests 24 hours before debits more than INR5,000
- recurring debit successful payments
- recurring debit failures
- successful e-mandate modifications
- successful e-mandate cancellations
- successfully pausing a mandate
- successfully resuming a mandate
- OTP for e-mandate modifications
- OTP for e-mandate cancellations
- OTP for MandateHQ first time login
- OTP for resetting your MandateHQ password
- OTP to register your card on MandateHQ
What happens to my existing recurring transactions set up with merchants?
Existing standing instructions set up on HSBC Personal Internet Banking will continue to be processed and there will not be any change.
If your existing subscriptions or recurring transactions were registered on merchant websites that support the new requirements for recurring transactions, they will be added to the HSBC MandateHQ portal.
Please note that if a merchant does not support the new requirements for recurring transactions, any existing subscriptions you have with them will be rejected.
What will happen to my existing recurring transactions set up with International merchants?
Visa, Mastercard and RBI are informing international merchants about the new RBI guidelines they'll need to follow. If they do not comply with RBI guidelines, then recurring transactions will not be processed after 1 October 2021.
Do I need to sign up on MandateHQ?
- Signing up on MandateHQ is completely optional unless you need to authenticate any transaction above INR5,000 or you wish to pause, resume or cancel any of the existing mandates on your HSBC credit card
- MandateHQ gives you a consolidated view of all your recurring transaction mandates registered using HSBC credit card
- It is a self-help portal to manage your mandates on your own and be in complete control of your recurring debits
How do I see my recurring transactions on MandateHQ?
Enter your name, mobile number and email to sign up.
Register your credit card on the portal. We will link all the recurring e-mandate transactions registered on your card so you can see them all in one place.
Start managing your recurring mandates anytime from anywhere.
Are there any charges for using MandateHQ?
This service is absolutely free and there will not be any charges under the new e-mandate framework.
What happens if my credit card number changes?
You'll need to register the new card number on MandateHQ. You might also need to contact your merchants and arrange for new subscriptions or recurring transactions with your new card details.
What happens when I renew my card?
You should be able to keep using the system as usual, as long as your card number hasn't changed.
What happens if my card is blocked, cancelled or has insufficient funds on the date of the recurring transaction? Will I get an alert for such declines?
You'll receive a notification that your debit has failed, as recurring transactions will not be processed in these cases.
I've been prompted for a one-time passcode (OTP). What is this and why is it required?
For security purposes, we will ask you to enter a one-time passcode to confirm your identity. This code is a unique series of numbers and/or letters and will be sent via email and text when you:
- register a new mandate
- sign up on MandateHQ
- register your credit card on MandateHQ
- reset your MandateHQ account password
- authorize any debit over INR5,000
- pause a mandate on MandateHQ
- Resume a mandate on MandateHQ
- Cancel a mandate on MandateHQ