HSBC Open Payments – Pay by bank account

HSBC Open Payments

It enables you to make payments to a retailer directly from your bank account. Payments could be sent in real time (subject to your bank account’s terms and conditions). You could use HSBC Open Payments by selecting “Pay by bank account” amongst other payment options at the retailer’s checkout page. You will then choose the bank or building society that holds your account and then be securely redirected to your bank account provider’s online banking portal or app where you will log in and authorise your payment to the retailer. It saves you typing in 16 digits’ card numbers and none of your card details or bank account information will be stored to the merchant or us.

End User FAQ: HSBC Open Payments

What is HSBC Open Payments – pay by bank account?

HSBC Open Payments is provided by HSBC UK Bank plc (“HSBC”, “we” or “us”) and enables you to make payments to a retailer directly from your bank account. Payments are usually sent in real time unless there is a delay in the relevant payments system.

How does HSBC Open Payments work?

When you arrive at the retailer’s checkout page you will be given a choice of payment options. If you chose “pay by bank account” you will be able to use HSBC Open Payments to choose the bank or building society that holds your account and then be securely redirected to your bank account provider’s online banking portal or app where you will log in and authorise your payment to the retailer.

You can access the terms and conditions for HSBC Open Payments here.

Can I use HSBC Open Payments if I don’t have a HSBC Bank account?

Yes. You don’t need to bank with HSBC to use HSBC Open Payments. If you choose to pay using this service, you’ll need to select the bank where you hold an account from which you want to make your payment.

Are all banks and building societies connected to HSBC Open Payments?

Not quite. HSBC Open Payments is connected to the majority of banks and building societies in the UK through the Open Banking network but the service does not work with all of them. If your bank account provider is not listed, then you will need to go back to the retailer’s checkout page and choose a different payment method.

Why should I use HSBC Open Payments instead of my usual payment method?

HSBC Open Payments uses the UK’s new Open Banking network to initiate payments. By using this method to pay it means:

  • You don’t need to give a retailer your card details so these are not stored anywhere;
  • The payment is authorised using your online banking service using your own bank’s security;
  • You don’t need to set up the retailer as a trusted beneficiary on your online banking service and then delete them if it’s only a one off payment.

What information and data does HSBC collect when I use HSBC Open Payments?

HSBC UK will collect some information (including personal data) about you when you when you use HSBC Open Payments and this will be processed in accordance with the HSBC Open Payments Privacy Notice which can be found here.

I tried to pay using HSBC Open Payments but there was an error screen during the process. Did my payment go through?

Sometimes things go wrong but if you do receive an error message when you are trying to make payment it’s unlikely your payment has gone through and you should be redirected back to the retailer’s checkout. We’d always recommend you check your bank account if you are unsure.

I have forgotten my online banking service login details. Can I use HSBC Open Payments?

In order to use HSBC Open Payments, you will need to authenticate yourself (to prove that it’s you making the payment) using security information or biometric info that your bank asks you for. If you cannot provide the security information your bank asks for then you won’t be able to pay for your purchase using HSBC Open Payments and will need to select an alternative payment method.

Can my bank refuse to process the payment even if I log on using the correct information?

If you don’t have sufficient funds in your bank account, you cannot provide your bank with the right security information then you won’t be able to pay using HSBC Open Payments.

Can my payment be refused by the retailer?

A retailer might refuse to accept payment using HSBC Open Payments and if this does occur then you should contact the retailer directly to discuss why this might be the case.

How long will it take for my payment to leave my account?

Your payment should usually be debited from your account immediately once you have received confirmation that it has been successfully submitted. You should contact your bank if the funds are not debited from your account within 2 hours of the payment being successfully submitted.

What if I pay for something but it does not get delivered – can I get a refund?

If you order goods or services from a retailer and they don't get delivered, you should speak to the retailer to discuss why the goods have not been received and if you are entitled to a refund. You may also need to contact your bank if the retailer refuses to deliver the goods or provide a refund. HSBC Open Payments will not request payment refunds on your behalf.

I purchased from a retailer who is now bankrupt but I never received my purchase. Can I claim my money back from HSBC?

No. HSBC Open Payments is a method to transfer money from the payer to the payee but it does not have the same consumer protection that other payment methods such as credit cards, direct debits or debit cards have. HSBC will not be able to assist you if the retailer goes bankrupt before your purchases are delivered so please think carefully when making your choice about how to pay

I have seen a transaction on my bank account that I don’t recognise – who do I call?

If you see any transaction on your bank account that you don’t recognise then you should call your own bank as soon as possible. If that payment was made using HSBC Open Payments your bank will be able to tell you and provide more information.

We are a member of the Open Banking dispute resolution service which is designed to help consumers if they need to dispute a transaction on their account that used Open Banking.

I want to complain to HSBC about HSBC Open Payments

If you want to provide feedback or complain to us about HSBC Open Payments service then you can contact us using the details below. You can contact us by telephone, online form, email or post using the details below.

You can email us at commercial.customer.relations@hsbc.com or go to https://www.business.hsbc.uk/en-gb/gb/generic/complaints

I want to have a copy of the confirmation that the payment has been submitted to my bank via HSBC Open Payments, how would I be able to request a copy?

You can contact us to request a copy of the confirmation of payment using the details below. You can contact us by telephone, online form, email or post using the details below.
https://www.business.hsbc.uk/en-gb/gb/generic/complaints

Who is Token.io?

We use a third party software provider to deliver HSBC Open Payments and you might see reference to them in your payment journey.

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