General information about Business Internet Banking
What is Business Internet Banking?
Business Internet Banking is one of the fastest, most convenient ways to access your HSBC (Cayman) accounts, view balances, transfer funds and pay your bills online. Using Username security details and a security device, which generates a unique password each time you log on, you can perform banking transactions online, whenever and wherever you want, from any computer with secure Internet access.
What are some of the features of Business Internet Banking?
Business Internet Banking has been enhanced with a number of exciting customer–driven improvements to make your online banking and bill paying even easier!
Balance and Transaction Reporting – View real–time balances and transactions on your deposits and loans. Credit card balances and transactions are updated at the end of each business day.
Bill payments – Add payees in real–time and pay up to six bills in Cayman Dollars at one time, using the 'Pay multiple bills' function. To pay bills in US Dollars, you must select the 'Pay a bill' function.
Open new term deposit – Customers registered for Business Internet Banking can save time by opening new term deposits ranging from seven days to one year online in real–time.
Transfers – Would you like to organise your payment schedule? Our transfer service allows you to conveniently create future dated transfers up to 45 days in advance. Past transfers are saved in your Transfer history for viewing.
Online security reset – Users who forget their Business Internet Banking logon details can select new security details and gain immediate access to Business Internet Banking.
Stop cheques – You can now place a stop payment on one or more HSBC (Cayman) cheques through Business Internet Banking.
Security enhancements – Each of the company's users will receive a one-time password Security Device. They will access the service using a random password generated by the device to create a greater level of security and protection. The device is easy to use and portable – take it anywhere.
Getting started with Business Internet Banking
What do I need to get started?
To use Business Internet Banking, you'll need to complete an application and submit to your Relationship Manager for processing. Once your application is processed, you'll receive a welcome letter, registration credentials and your security device.
What information is required when I register for Business Internet Banking?
Your Internet Banking Number (EBN) and PIN are required for registration. This specific information provides an automatic verification of your identity and allows you to register for the service. However, in order to start using the system, the first time you login to your account you will need to activate your Security Device. Random passwords generated from your Security Device, in conjunction with your security details will authenticate you as a unique Business Internet Banking user each time you log on to the service.
What type of browser can I use to access Business Internet Banking?
In a continued effort to safeguard your online banking transactions, HSBC Bank (Cayman) Limited requires full 128-bit encryption for Business Internet Banking use. The chart shows HSBC Bank (Cayman) Limited supported browsers that offer the highest level of encryption:
| Windows | XPWindows | 2000Windows | MacOSX | |
|---|---|---|---|---|
| Internet Explorer 5.5 | No | No | Yes | No |
| Internet Explorer 6.0 | Yes | Yes | No | No |
| FireFox 1.0.1 | Yes | No | No | Yes |
| Netscape 7.2 | Yes | No | No | Yes |
Additionally, the Bank does not support the following browsers: Opera 9.02, MSN Explorer 9.10, or Mozilla 1.7 for Windows 98 to XP; or Internet Explorer 5.2, Safari or Camino for Mac.
If you use an older browser that supports 128-bit encryption, it's recommended that you upgrade to one of the HSBC Bank (Cayman) Limited supported browsers listed above. If your browser does not support 128-bit encryption, you will need to download the latest version in order for you to use Business Internet Banking.
I'm a Mac user. Will I be able to access Business Internet Banking?
Yes, providing that your Macintosh computer uses OS X with Netscape 7.2 or Firefox 2.
Why do I need to accept 'cookies' to access my financial information online?
A cookie is a text file that resides on your computer. As part of the security of your data, cookies remind HSBC Bank (Cayman) Limited of your particular browser preferences and security requirements. If your browser prompts you when a cookie is 'served,' you must accept it or access to confidential information will be denied. Since cookies are site specific, only HSBC Bank (Cayman) Limited can access, decode and make use of the information.
Registering for Business Internet Banking
How do I register for Business Internet Banking?
Once you have received your welcome letter, registration credentials (Business Internet Banking Number [also known as EBN] and PIN), and your Security Device, simply select the Internet Banking tab on the upper right corner at www.hsbc.ky. Then click on 'Register for Business Internet Banking' and follow the easy registration instructions.
Can my business and personal accounts be linked?
Unfortunately, you cannot link your personal and business accounts. You will need to apply for Personal Internet Banking in order to view your personal accounts online.
What do I need to do once I have registered for the service?
For security reasons, each user will need to contact the bank on 345-949-7755 to gain full access to their Daily Transaction Limits.
Paying bills
How do I pay bills online using Business Internet Banking?
When you register for Business Internet Banking you'll be able to pay your utilities, credit card, and more. Set up new payees in real-time without contacting the Bank. Choose to pay now or up to 45 days in the future. You can even set up recurring payments for those bills you pay each month. We recommend that you schedule your bill payments at least five (5) business days before a payment is due to avoid late charges.
How do I make a bill payment if I am being billed in USD?
Making a bill payment in USD is no different to KYD, except that you can only make USD bill payments using the 'Pay a bill (KYD / USD)' function.
Will I be charged a currency exchange rate for paying a payee in USD?
If you select to pay a payee in USD from a non USD account, you will be charged applicable currency exchange rates. To avoid these charges, be sure to pay your bill in the same currency of the account you are debiting. For example, pay USD payees from a USD account and KYD payees from a KYD account.
How do I make a payment on my credit card?
To make payments to a USD credit card using Internet Banking select the 'Pay a bill (KYD / USD)' function from the 'Pay bills' menu in the left navigation. Then simply follow the instructions to complete your bill payment transaction.
How do I know the bill payment I made on Business Internet Banking was completed?
Once you have entered your online bill payments or transfers make sure to review your information and confirm that is correct. You will then receive an 'Acknowledgement' screen repeating the information you have entered. This screen will also include a reference number as verification that your payment was accepted. If you received a system message that the transaction you entered requires authorisation, you will need to notify the designated authoriser in your company to log on to Business Internet Banking and authorise the transaction. If you have any questions or problems, contact Internet Banking Support on 345-914-7683.
What if I submit a transaction request online and I want to cancel it?
If you scheduled a payment to be processed immediately, you may not be able to stop the payment. Any other scheduled or recurring payments may be cancelled if done within one business day before the process date. Use the 'Change' option in the 'Future Payments' section of Internet Banking. If your transaction has already been processed, we will work with you and the beneficiary bank to attempt to recall the transfer. Please contact Internet Banking on 345-914-7683 for assistance.
How will I know if my bill payees received their payments?
You will receive a reference number for each confirmed bill payment. Please print a copy of your reference number so you may maintain it for your records.
How many bill payees and transfer templates can I set up in Business Internet Banking?
You are able to save a combined total of 99 bill payees and transfer templates in Business Internet Banking.
Making Transfers
Can I transfer funds between my accounts at HSBC Bank (Cayman) Limited and even other banks?
Yes, you may transfer funds between your chequing and savings accounts. Transfers can be scheduled to occur immediately or on a future date or on a recurring basis. As a Business Internet Banking customer, you also have access to move your money between your HSBC Bank (Cayman) Limited accounts and your non- HSBC Bank (Cayman) Limited bank accounts, including financial institutions, credit unions and investment accounts.
How do I make a transfer?
- Click transfers in the left navigation menu
- Choose which account you would like to make the transfer from in the drop down box
- Select what type of transfer you would like to make in the 'Transfer to' drop down box. Please note that the type of transfer selected may require extra information to be entered for the credit details
- Enter the amount and the currency in the corresponding fields
- Choose whether you would like to transfer it now, transfer it later or whether you would like to set up a recurring transfer
- In the details box, enter transfer details which will show up on your 'Account summary'
IMPORTANT NOTE: If you select 'Save' this will ONLY save the template and not make a transfer immediately. To immediately send your transfer instructions for processing select 'Continue.'
How can I set up and save new Template?
To save new templates in Business Internet Banking simply click on 'Transfers' in the left navigation menu and then select the account from the dropdown list you would like your funds to be transferred from. Next key in the details for your instruction in the required fields and then click 'Save template'. The template will be saved in the system and can be retrieved through the 'Saved transfers' menu item under the 'Transfers' section.
IMPORTANT NOTE: This will ONLY save the template and not make a transfer immediately.
How do I delete Third Party and Wire Payments?
'Saved transfers' you set up through Business Internet Banking may be updated online anytime without any assistance from the Bank. To delete 'Saved Transfers', contact Internet Banking Support on 345-914-7683.
Why do I get an "exceeds limit" error message when I try and set-up or amend a recurring transfer?
One of the security enhancements that were made as part of the last upgrade was a change to the way limits were calculated for recurring transfers. As a result of this change, the total amount of the recurring transfer cannot exceed your daily transfer limit. For example, if your daily transfer limit is $500,000 and you want to set-up a recurring transfer for $10,000 you may only have the transfer recur 50 times to be within your limit (50 X $10,000 = $500,000). Should you wish to amend a recurring transfer that totals over your limit you must reduce the number of transfers to bring the transfer to within your limit. This security enhancement was made to ensure that you and your delegates are only ever able to perform transactions that are within their limits.
Payments to EU and EEA countries
What is the IBAN?
IBAN stands for International Bank Account Number. An IBAN includes all of the details needed by a receiving bank to apply a payment directly to a beneficiary's bank account without manual intervention. Customers sending funds to European Union and European Economic Area countries are required to adopt IBANs for payments effective January 1, 2007.
For a list of countries where the use of IBANs are required for payment or receipt of payments in Euro, please visit the International Bank Account Number (IBAN) website at http://www.ecbs.org/iban.htm.
How can I identify an IBAN?
The IBAN is a multiple digit code that is constructed in sections. The length of IBANs will vary from country to country due to different domestic bank code and account numbering systems. The diagram below combines country code, cheque number, bank code, sort code and account number, all which make up the IBAN.
What is a BIC?
BIC stands for Bank Identification Code. It is an alphanumeric code used to identify precisely the financial institutions involved in financial transactions. A BIC may also be known as BC (Bank Code), CHIPS (Clearing House Inter-Bank Payment System) or a NCC (National Clearing Code).
To validate and confirm a Bank Identifier Code, please visit the SWIFT Publication Portal at http://www.swift.com/biconline.
How do I provide the IBAN and BIC for money transfers in Business Internet Banking?
When sending a transfer to an EU or EEA country you will not be specifically asked to insert an IBAN. When submitting your payment instructions it is mandatory that you enter your beneficiary's IBAN into the "Beneficiary account number" field.
If you are submitting payment instructions using the other country option it is mandatory that you also enter your beneficiary's BIC in the "Local bank code" field. Any euro cross border payment instructions submitted without both BIC and IBAN details to countries within the EU and EEA will be rejected or returned.
Who will be required to use IBANs?
Any individual, company, bank or other institution, sending payments to EEA or EAU countries will be expected to quote the IBAN of the beneficiary in the payment instructions. If you are making payments into Europe you should ensure that you receive from your beneficiary their IBAN and quote this in the account number field of your payment instructions to us.
Will I need an IBAN if my organization is making or receiving a payment to or from a country outside Europe?
At this stage, countries outside Europe have not adopted IBANs. Therefore an IBAN will not be required for payment messages originating from, or going to, non-European countries.
Other Business Internet Banking Transactions
How can I download my account history to my financial software package?
With Business Internet Banking you can download into most financial management software using QFX, QIF or CSV file formats. These file formats work with most popular spreadsheet and database programmes. Download functionality is located on Business Internet Banking under the Account menu option and you can find detailed information explaining how to download within the Help section located on the page.
Can I apply for other HSBC Bank (Cayman) Limited accounts through Business Internet Banking?
In order to apply for other HSBC Bank (Cayman) Limited accounts, please contact your Relationship Manager for further details.
Can I view my credit card or chequing account transactions online?
Yes, you are able to view ninety days of transaction history online in 'Account Summary'.
Useful online services
Can I change my security details?
Yes, from the 'Services' section on the left navigation menu you can choose to change your Password, Memorable Question and Answer or even your Security Questions and Answers. When changing your security details, be sure to create something that you can remember but would be difficult for someone to guess. This will help prevent unauthorized individuals from accessing your financial information. Also remember to avoid writing your details down.
What kind of information can I download using Quicken/Microsoft Money?
Quicken and Microsoft Money are financial management software which help to keep track of your overall financial status including assets, liabilities, account balances and expenses. The 'Download transaction history' function allows you to download your account balances and transaction information to Quicken or Money software. The following are HSBC Bank (Cayman) Limited -supported versions of Quicken and Microsoft Money:
- Quicken: 2000 to 2004
- MS Money: 2000 to 2004
Am I able to download my credit card balances and transactions to my financial management software?
No. At this time you are only able to download your account balances and transactions to your financial management software.
Can I nickname my account(s)?
Unfortunately at this time Business Internet Banking does not support nicknames on your account(s).
Can I request a stop payment on a HSBC Bank (Cayman) Limited cheque through Business Internet Banking?
Yes, you can request a stop payment on one or more HSBC Bank (Cayman) Limited cheques through Business Internet Banking. Simply select 'Services' from the left navigation menu. Then select 'Stop Cheque'.
Can I order more cheques online?
Yes, just choose 'Order Chequebook' from the 'Services' menu to order a new chequebook. You will receive a response in your 'Contact Centre – Read Messages' box confirming your order.
Can I bookmark the site for greater convenience?
Yes, just go to www.hsbc.ky and from your browser menu, click on 'Favourites' if you use Internet Explorer or 'Bookmarks' if you use Netscape or Firefox.
User Access Control and Limits
What are Daily User Limits?
The maximum amount a User can authorise in a day is dependent upon the information supplied for Primary Users in your Business Internet Banking Application and what has been set up by Primary and Secondary Users in the Security and Access functions on Business Internet Banking. The maximum your company can request is subject to the Internet Banking transaction limits. See the limits section below.
What are Account Limits?
You are now able to set a transaction limit on your company's individual accounts. As an example, you could set a transfer limit of $1,000 on your company's savings account and set the transfer limit to $10,000 on your company's chequing account.
In order to transact on a particular account, limits do need to be set. To set these limits, a Primary User needs to go to Account Control Setup and Change under the Access and Security menu option and set limits for all available accounts. For ease, within the set-up and change function the Primary User is able to set individual limits , copy limits from a specific account or create and copy limits to a group of accounts.
Remember that if your company has asked for dual control, another Primary User with the same or higher limits will need to authorise any change. Maintenance and transactions that require authorisation are available under the Authorisation menu option.
I recently registered for the service and I am unable to perform a transaction. I am getting a message that I have exceeded the daily transaction limit. What should I do?
After registering please ensure that the limits have been set for all delegates of the company (including your own) and that limits have been set on the accounts in the company's profile.
To check and update delegate limits a Primary User simply needs to click on View/change/delete User under the Access and Security menu option and amend as required. Please note that a Primary User cannot change or authorise a change for limits that are higher than their own. If a Primary User wishes to change their limits, please contact your Relationship Manager.
To check and update account limits a Primary User simply clicks on Account Control Set-up and Change under the Access and Security menu option and amend as required.
Remember that if your company has asked for dual control, another Primary User with the same or higher limits will need to authorise any change. Maintenance and transactions that require authorisation are available under the Authorisation menu option.
What types of transactions may require authorisation?
Transfers (account to account, drafts, cashier's cheques and telegraphic transfers), Bill Payments and New Accounts may require authorisation by one or more Users within Business Internet Banking for the following reasons:
- If the transaction amount exceeds the creating User's remaining daily available limit
- If the account being debited is set up for dual authorisation, which requires two signatories for the instruction being given.
Who can authorize a financial transaction?
User(s) who have been granted authorisation capability on the debit account and whose remaining Daily Available Limit is sufficient to cover the transaction for the appropriate account may authorize a transaction.
How can I set up my signatories to authorise transactions?
The Primary user has to set Signature Group limits for each account through the 'Account Control' option available under the 'Access & Security' menu on BIB. Depending on the Authorisation matrix set by the Bank, which is based on the application form submitted to the Bank at the time of applying for BIB, the relevant Signature Groups will be shown in the Account Control Screen. There are 3 types of Authorisation Matrix, these are:
- Simple Authorisation Matrix: Any One User (from Group A or Group B) individually can authorise a financial Transaction. E.g. A, B
- Dual One Group Authorisation Matrix: Users, either individually or jointly, from Group A only can authorise the transaction. E.g. A, A+A. In this case you could set one limit if just an A authorises and another higher limit if an A plus another A authorises.
- Dual Two Group Authorisation Matrix: Users, either individually or jointly, from Group A and/or Group B can authorise the transaction. E.g. A, B, A+A, B+B, A+B. In this case you could set different authorisation limits for each tier i.e. one limit for just a B, a higher limit for just an A, another limit for a B plus another B, another for a B plus an A etc.
New Delegate Set-up and Change
How do I set-up a new Secondary User?
Located under Access and Security, the Create New user function allows a Primary User to create new Secondary Users.
In order to create a new Secondary User online, a Primary User will need to input the Secondary User's personal details, select the accounts that you wish them to have access to and select the services that you wish the new delegate to be able to use.
The Primary User will then, depending on how your company was set-up, select the signature groups that the delegate can belong to or create the delegate to be input and enquiry only.
Finally, depending on the services you selected for the delegate, you will be prompted to enter a daily transaction limit for the service. Note that this limit must be less than the limit of the Primary User that is creating the delegate.
Once you have input the delegate details, you will be given the opportunity to change or cancel before the information is submitted to the bank.
Remember that if your company has asked for dual control, another Primary User with the same or higher limits will need to authorise any change. Maintenance and transactions that require authorisation are available under the Authorisation menu option.
Once the delegate creation has been submitted to the bank (or approved and submitted in the case of dual control) the logon details and security token will be mailed separately to the delegate at the companies address.
How do I set-up a new Primary User?
In order to set-up a new Primary User your company will need to complete a new Primary User form. This form is obtained from your Relationship Manager.
How do I change a delegate?
Primary Users are able to amend delegates using the View/Change/Delete User function under the Access and Security menu option. Within this function delegates details, limits, account access and function access can be changed or delegate deleted as required. Note that Primary Users can change other Primary Users but cannot delete them, if you wish to delete a Primary User you will need to complete a change form for the Primary User from your Relationship Manager.
Please note that a Primary User cannot change or authorise a change for limits that are higher than their own. If a Primary User wishes to change their limits they will need to complete a change form from their Relationship Manager. and send to the bank for processing.
Remember that if your company has asked for dual control, another Primary User with the same or higher limits will need to authorise any change. Maintenance and transactions that require authorisation are available under the Authorisation menu option.
Online security
How secure is Business Internet Banking?
HSBC Bank (Cayman) Limited takes every precaution to keep your online experience safe. In a continued effort to safeguard online banking transactions, HSBC Bank (Cayman) Limited requires full 128-bit encryption for Business Internet Banking use. Encryption is a process that transforms sensitive information into a string of unrecognizable characters before they are sent over the Internet and helps keep your information private between the Bank's computer system and your Internet browser. The chart shows HSBC Bank (Cayman) Limited -supported browsers that offer the highest level of encryption:
| Windows | XPWindows | 2000Windows | MacOSX | |
|---|---|---|---|---|
| Internet Explorer 5.5 | No | No | Yes | No |
| Internet Explorer 6.0 | Yes | Yes | No | No |
| FireFox 1.0.1 | Yes | No | No | Yes |
| Netscape 7.2 | Yes | No | No | Yes |
Additionally, the Bank does not support the following browsers: Opera 9.02, MSN Explorer 9.10, or Mozilla 1.7 for Windows 98 to XP; or Internet Explore 5.2, Safari or Camino for Mac.
If you use an older browser that supports 128-bit encryption, it's recommended that you upgrade to one of the HSBC Bank (Cayman) Limited -supported browsers listed above. If your browser does not support 128-bit encryption, you will need to download the latest version in order for you to use Business Internet Banking. In addition to encryption, your unique Username and security details will authenticate your access each time you use the service.
How do I know I am visiting a secured Internet site?
Internet Banking is accessed through a secured Internet site to help keep your online financial information private and secure. You will know you are at a secured site when you see the https:// in the address field on your browser and the padlock symbol at the bottom of your screen.
What can I do to keep safe while banking online?
There are some things you can do to help keep your financial information safe while banking online. They include keeping your security details confidential, using a secure Internet connection and protecting your computer from viruses and spyware. Read our Security webpages to find out more or visit http://www.hsbc.com/1/2/online-security.
What do I do if I have forgotten my Memorable Answer?
You are able to reset your online security information at any time. Please follow the steps below to reset your online security details:
- Enter Security Answer 1
- Enter Security Answer 2
- Enter the indicated characters from your existing Password
- Set up a NEW Memorable Answer for use when logging on to Internet Banking. Re-enter your NEW Memorable Answer to ensure you have keyed it in correctly.
Once you have completed these steps you will receive a 'Change Memorable Answer – Acknowledgement' screen stating that your Internet Banking password has been successfully reset. Remember to use this new password the next time you logon so to avoid locking yourself out of the system.
What do I do if I have forgotten my username?
If you have forgotten your Username and are having trouble accessing this service, please call Internet Banking Support
Why do I need a Security Device?
HSBC Bank (Cayman) Limited is committed to safeguarding your sensitive financial information. We have introduced a Security Device, which generates random passwords needed to access Business Internet Banking. Each Security Device generates a series of passwords unique to the user's account. By using these one-time passwords, in conjunction with your security details, you will experience a greater level of security when transacting online.
What is a Security Device?
A Security Device is a small electronic device, which automatically generates the one-time passwords required to logon to Business Internet Banking. The Security Device will be given to you free of charge when you sign up for Business Internet Banking. It is small and portable so you can access your accounts from anywhere.
What is a Serial Number?
Your Security Device has a white sticker on the back with a unique 10-digit number. It will be in the format xx-xxxxxxx-x where 'x' is a number (e.g. 17-0023284-1). Because each Security Device has a unique Serial Number, you cannot use someone else's Security Device. Similarly, you should not lend your Security Device to anyone else.
When do I use it?
You will need the Security Device to complete the set-up of your Business Internet Banking service and each time you logon.
How do I use my Security Device?
To get a one-time password, press the red on/off triangular button on the Security Device. Your one-time password will be shown in the display window under the HSBC logo. The Security Device will automatically turn off after 30 seconds or when you press the on/off button again. Once you have your one-time password, simply type it in using your computer keyboard.
How do you know I'm entering the correct one-time password?
When you set up your Business Internet Banking service, your Security Device becomes synched to your username - only you can use it. When you enter a one-time password into the screen we check to make sure that the one-time password entered was generated by your Security Device. If you enter an incorrect one-time password, you will be prompted to enter a new one.
Is there a fee for a Security Device?
No, Security Devices are provided free of charge to our customers.
What do I do if I lose or break my Security Device?
You will need to complete a Security Device Request Form. The form must be signed by the appropriate authorised signatories as specified on your Business Internet Banking application. A new device will be mailed to you or made available for pick-up at HSBC House.
Can I use more than one Security Device at a time?
Because your Business Internet Banking service is linked to your Security Device, it is not possible to have more than one Security Device at a time.
I am a signatory on more than one company account; do I need multiple Security Devices?
No, you can use the same Security Device to view any accounts for which you have access rights via Business Internet Banking.
Can I get into Business Internet Banking without my Security Device?
For your security, you cannot log on to Business Internet Banking without your Security Device.
What does the message "BATT#" mean?
The BATT message appears when your Security Device battery is running low. You cannot replace the battery in this device and will need to request a new one. You will need to complete a Security Device Request Form. The form must be signed by the appropriate authorised signatories as specified on your Business Internet Banking application. A new device will be mailed to you or made available for pick-up at HSBC House.
How long will the battery last?
The battery is designed to continue to work for 3 to 5 years.
Limits
Are there transaction limits for Business Internet Banking?
Yes. With Business Internet Banking, you are restricted to certain monetary limits. These limits are the maximum combined total that you can transact over Business Internet Banking over a 24-hour period. These limits have been set to enhance existing security levels. The chart below outlines these monetary limits:
Transfers to other HSBC accounts
- Pre-designated: any number of transfers to a combined total of $3,000,000
- Non- designated: any number of transfers to a combined total of $500,000
Transfer involving foreign currency accounts with other banks
- Pre-designated or Non- designated: any number of transfers to a combined total of $250,000 or the currency equivalent
Open new fixed deposit
- Open new fixed deposit (when the amount to transfer is in the same currency as the amount to deposit): $5,000,000
- Open new account (when foreign exchange is required): $250,000, i.e., any single transaction that is over $250,000, or the currency equivalent
Paying Dollar bills: $100,000
Transfer within your accounts: $5,000,000
If you attempt to make a transaction of any kind that exceeds these limits (or the currency equivalents), a warning message will appear on the screen advising you to contact the Bank to process the instruction on your behalf. It may sometimes be necessary for you to provide us with faxed instructions to confirm your request.
What are Pre-designated and Non-designated transaction limits?
Pre-designated transaction limits affect third party payees or transfer templates set up by on Business Internet Banking.
Non- designated transaction limits affect transfers set up by you online in Business Internet Banking to accounts outside your portfolio of accounts and not set up as a template. For security reasons these limits are lower than Pre-designated transaction limits.
Is there a maximum deposit limit when opening a fixed deposit account in Business Internet Banking?
Yes. When opening a new fixed deposit account online, which does not require foreign exchange, the limit is $5,000,000 (when the amount to transfer is in the same currency as the amount to deposit). For those fixed deposits opened online, which require foreign exchange, the maximum amount is $250,000 or the currency equivalent.
