HSBC Now Supports Non Payid Outgoing Fast Payments (SCT?) on The Mobile App Only

non-core promise on 29/05/2023 - 23:05
Last edited 29/05/2023 - 23:06

Check your Google Play or iOS App Store.

It doesn't seem to have rolled out via automatic updates yet, it's only for people who explicitly choose to update.

https://play.google.com/store/apps/details?id=au.com.hsbc.hs…

https://apps.apple.com/au/app/hsbc-australia/id1467731432

What's new
• Fast payments are now live on the app. Make real-time local payments using BSB & Account Number.
• Joint account data sharing management updates inline with regulatory standards are now available

I wouldn't delete your Beem It account straight away. HSBC is still a legacy bank. They're bound to have screwed something up.

Their FAQ page.

What do I need to do to be able to send and receive Fast Payments?

Sending Fast Payments will only be available via the HSBC Mobile Banking app. To send a Fast Payment make sure you have downloaded the latest mobile app version.

You do not need to do anything to receive Fast Payments. As long as your account is eligible, we will process the payment as a Fast Payment, and you can confirm receipt via either Online Banking or the Mobile Banking app.

The wording in this suggests they're making this a mobile only thing to be hip and cool like the neobanks (or possibly an attempt to drive up mobile app usage?). Normally you'd expect them to say something like "currently only available" or "only available for now".

What is PayID?

PayID is an easy-to-remember identifier, such as a mobile phone number or email address that can be linked to an eligible account to receive Fast Payments within Australia. HSBC does not support PayID at this stage.

Case in point, "at this stage" suggests they will implement PayID at some point, just not for awhile. Legacy banks do love taking their sweet time.

Financial PayID

Related Stores

HSBC
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Comments

  • FujiFruit on 30/05/2023 - 00:54
    +1

    Omg it is instant . Finally! I tried it. But not sure if it’s just for under a certain amount transfer eg under $1000 only

    • Neoika on 30/05/2023 - 21:46

      Much more than $1k.

  • Neoika on 30/05/2023 - 08:27

    Beem It.

  • burningrage on 30/05/2023 - 10:29
    +1

    Finally! Omg, took them years to do this.

  • burningrage on 30/05/2023 - 10:31
    +1

    NAB is also a peculiar one. I send money from NAB to another PAYID eligible account and it won't show as OSKO but if you do it via mobile phone, it will work as Osko.

  • GS9891 on 30/05/2023 - 22:15

    Finally, my Everyday Global has been my only real transaction account for a good couple years now, receiving instantly was nice but always a bit annoying with the outgoing delay.

    Edit: Well didn't work from the app to my saved ANZ account, and still said 1 - 2 business days.

    • GS9891 on 31/05/2023 - 10:42

      Edit 2: Prompted me to setup the 6-digit PIN this morning and now works!

  • FujiFruit on 30/05/2023 - 22:33

    Still need to use beem to transfer eg virgin to hsbc if you need instant money

    • Neoika on 30/05/2023 - 23:04

      Virgin Money Visa cannot be added to Beem It.

      • FujiFruit on 31/05/2023 - 13:25

        Yes correct sorry my mistake

  • caustic birch on 31/05/2023 - 09:05
    +1

    Just moved 6k and no sign of it in my other account 30 min later. Should've done a test transfer oops

  • burningrage on 31/05/2023 - 12:27

    Does it tell you it will be insta-transfer?

    Like normally with other banks on Osko, it will have that Osko logo.

    • Neoika on 31/05/2023 - 12:32

      Before submission, it shows fast payment or not.

      • burningrage on 31/05/2023 - 12:59

        Cool. Imma gonna try it today when I get my paycheque.

        • caustic birch on 31/05/2023 - 13:16

          Mine said 'within minutes' but I'm still waiting 240 minutes later

        • burningrage on 31/05/2023 - 15:10

          I just did a test transfer. Smaller amount (not $1 or 1c) and it arrived instantly.

          PS: I sent the money to my previously sent destination. Not new destination.

          • caustic birch on 31/05/2023 - 15:58

            @burningrage: Should be right then.

            Hmm my money just got refunded into my HSBC acc..

            • dingdong3000 on 01/06/2023 - 10:43

              @caustic birch: I tried transferring to ubank and westpac yesterday via fast payment but it still hasn’t come through.

              It’s not new destination either :/

              • caustic birch on 01/06/2023 - 11:04

                @dingdong3000: They told me they were having a few problems yesterday until 12pm AEST. Should be refunded soon I guess

  • burningrage on 01/06/2023 - 12:11

    Not all receiving banks accept SCT by the look of it.

    My test transfer was between HSBC to BoM which in theory should be the same as Westpac but haven't tested it yet.

    I am going to try HSBC to NAB today.

  • ssdexecutor82 on 04/07/2023 - 02:55

    Does not work to suncorp westpac or commbank for me and they are not newly added.

  • hamza23 on 01/05/2024 - 08:35

    Has anyone else found that instant payments aren't working today?

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