Coronavirus FAQ for Business Credit Card customers - HSBC Commercial and Company Card

Are you offering repayment holidays?

  • The repayment holiday isn’t available to business customers who hold a Commercial Card or Company Card. We recommend that you make at least the minimum payment on your card.

What options are available for me?

How can the funding help me and my business?

  • If eligible, the funding can help with your cash flow cycle. This isn’t done through your card, but a cash injection into the business to help you during this situation.

Contactless limit increased to £45

  • From 1 April 2020 you can spend up to £45 on your contactless credit card. We’ve increased contactless payment limits in line with the national roll out. Please note, that some retailers may not have implemented the limit increase, as it requires changes to their systems as well.

I currently pay my card balance in full by Direct Debit, can I change this?

  • Yes, if you hold a Commercial Credit Card. To help with cash flow you can change your Direct Debit to the minimum repayment amount on the account. You will need to do this at least 4 working days before the Direct Debit payment usually debits your account – this date will be shown on your monthly statement
  • Interest will be applied to your unpaid balance and transactions in line with your card account’s terms and conditions which can be found here.
  • We recommend that before making this change, you consider your overall financial position. Switching to the minimum payment should only be done as a short term measure, as it will increase the total cost of your borrowing.

What if I’m making a late payment?

  • You should always try to make your payments on time, but if you are late we won’t charge you a late payment fee for missing payments due between 27 April 2020 and 26 July 2020. We will do this automatically so you do not need to contact us.

What is a late payment fee?

  • As part of the card terms and conditions, you’re required to make a minimum payment by the date shown on your monthly statement. If a payment is not made on time, then a £12 late payment fee is charged, however; from 27 April 2020 and 26 July 2020 we’re removing the late payment fee.

Will interest continue to be charged on my balance during this period?

  • Yes. If you do not repay the balance on your statement by the due date shown interest will continue to be charged at the published rate (currently 1.238% per month) on any outstanding balances.

Will one or more late payments during this period affect my credit rating?

  • Yes. Although we will not charge a late payment fee if you miss a payment, this can still negatively affect your credit rating. You should contact us as soon as possible if you think that you will not be able to make the payment on time, or if you’re in financial difficulty.

Am I able to make additional payments to my Company Card/Commercial Credit card?

  • Yes, the quickest way to make payments is by using our Digital Business Banking (DBB) online service. If you’re unable to make payments online, you can make payments in branch or through our automated Business Telephone Banking (BTB) service.
  • You must be registered for DBB to make online payments and registered for BTB to make payments via telephone.

What happens if I suspect that I have suffered fraud, or do not recognise a transaction on my card account?

  • We’re here to support you. If you think you have fallen victim to fraud, please call our Fraud team on 0800 032 7075 to query the transaction, or advise of us of any fraud you believe that you have suffered.

Is there a support line for me to talk to someone?

You are leaving the HSBC Commercial Banking website.

Please be aware that the external site policies will differ from our website terms and conditions and privacy policy. The next site will open in a new browser window or tab.

You are leaving the HSBC Commercial Banking website.

Please be aware that the external site policies will differ from our website terms and conditions and privacy policy. The next site will open in a new browser window or tab.