If you’re a business customer or a customer with a Community, School or College account, you’ll now be able to use the network of 11,500 Post Office® branches to make cash deposits, withdrawals, change-giving or to make a balance enquiry, as long as you have a debit card or a deposit card (for paying in cash and/or change-giving only). It’s also now possible to deposit cheques using your standard cheque only deposit slip with a cheque envelope (supplied by the Post Office®). Your Business Debit or Deposit Card will not be required to deposit cheques.
All Commercial Banking customers with a debit card who currently make cash deposits or withdrawals, or need to make a balance enquiry or require change-giving or deposit cheques (with a standard cheque only deposit slip) will be able to use the Post Office® in addition to the HSBC Branch Network.
This service will be available to all Commercial Banking customers with a Business Current Account. All Community, School or College account customers and other business customers will also be eligible, as long as you have a Business Debit or Deposit Card for cash transactions or balance enquiries. Cheque deposits require an HSBC cheque only deposit slip together with a cheque envelope (supplied by the Post Office®).
Commercial Banking customers will be able to make the following transaction types:
It’s necessary to have a Business Debit Card for automated services; cheques do not require a card, but do require an HSBC cheque only deposit slip, together with a cheque envelope (supplied by the Post Office®).
If you only want your employees to have a card to pay in or exchange cash [note/coin swap] at the Post Office, you can apply for a Business Deposit Card.
Business Deposit Cards can’t be used to make payments or cash withdrawals, only to pay in at Post Offices and HSBC deposit machines.
To apply, please complete the application form (PDF, 55KB) and return it to your local branch or your relationship manager.
Customers who only use the service occasionally can simply go into any Post Office® Branch and use the transaction types outlined above. If you make deposits of GBP10,000 and above, or GBP500 in coin per week, or you require a regular change-giving service, you’ll be required to agree access to your preferred Post Office® Branch. This can be done by emailing a Nomination Form to the Post Office® prior to starting the service. Please speak to Business Telephone Banking, your Relationship Manager or your local branch to get a copy of the form.
Yes, the maximum cash deposit allowed will be GBP20,000 (including a maximum of GBP250 for coin content), whereas the maximum cash withdrawal limit will be lower at a maximum GBP500 (or the individual Business Debit Card limit if lower). It should be noted that only Main Post Office® Branches will be enabled to operate up to the higher deposit limit, with the smaller Post Offices® only able to accept GBP1,000 deposit.
For change-giving, the maximum cash exchanged [note/coin swap] is GBP2,000. Please note that only Main Post Office® Branches will be enabled to operate up to the higher cash exchange limit, with smaller Post Offices® only able to swap GBP1,000. Each Post Office® will be able to advise you whether they are deemed a Main Post Office® or not.
For cash transactions, no. The Business Debit Card services utilise the LINK system. This is a real-time settlement operation. Therefore customers using the Post Office® will be credited or debited in real-time. Due to the later opening hours of the Post Office® it will be possible for customers to credit/debit their account later than our Branch 3.30 pm cut-off. For cheque deposits there will be an additional business day required for clearing, as HSBC will not receive the cheque envelope from the Post Office® until the next business day following deposit.
Yes, cheque deposits can be made at any Post Office®. Please use your standard HSBC cheque only deposit book and place the slip and cheques into the cheque envelope which will be provided by the Post Office® at the time of deposit.
Yes, Customers can do so using the Business Debit Card or Business Deposit Card.
To reflect the introduction of the Post Office® service for customers, changes have been made to the Business Banking Terms and Conditions, Business Banking Made Easy brochure, and the Business Banking Price List. Copies of these booklets are available at www.hsbc.co.uk/business, within any of our branches, or ordered by telephone on 0800 032 1770.
Yes, all commercial banking customers with access to a Business Current Account have been written to with a Notice of Variation of their Business Banking Terms and Conditions, Business Banking Price List and Business Banking Made Easy brochure. The first communication was issued in December 2015 for cash services, followed by another communication in October 2016 announcing cheque services. A further update was provided to customers in October 2017, advising them of the change-giving service.
You’ll pay no more than you are currently paying for using HSBC branches. For services using a Business Debit and Deposit Card instead of a paying in slip the counter withdrawal or branch deposit fee will be lower – typically 25p. If you’re enjoying free banking this will also apply to the Post Office® Services until your free banking period ends. For negotiated customers you’ll continue to pay the agreed deposit/withdraw fee.
At HSBC, we’re committed to providing you with a first-class service and effectively delivering the products and services you need. Even with the best of intentions, we know things can go wrong. So, if for any reason you’re not entirely satisfied with any aspect of our service, please let us know as soon as possible. For Account complaints, including settlement issues, please contact your Relationship Manager or Business Telephone Banking on 03457 60 60 60. For day to day queries regarding the Post Office® please either enquire at a local Post Office® Branch or visit their website.