Covid-19: Customer Support Measures


The Singapore government has implemented ‘circuit breaker’ measures on 3 April 2020 as the nationwide combat against COVID-19 extends. Providing a safe environment for our clients and employees remain our foremost focus. As such we are increasing our business continuity measures, including directing more of our colleagues to work from home.

We remain open for business as an essential service to the continuity of Singapore and its economy. Your Relationship Managers & Client Service Managers continue to be available to support you with your day to day transactional banking needs.

We are committed to serving you at minimal disruption, nevertheless, during this unprecedented time, we apologise if there is a slower response in our service due to this restricted movement directive.

Branch and ATM services

From 24 June 2020, HSBC will reopen Suntec City branch.

The following branches will be open with normal operating hours:

NOTE: For the safety of both our customers and staff, customers visiting our branches must wear a mask and log in the entry and exit of their visits via the SafeEntry QR Code.

Claymore, Hillview, Holland Village, Jurong, Marine Parade, Orchard Dhoby Ghaut, Serangoon Garden and Suntec City.

The following HSBC branches servicing corporate customers will remain closed:

Collyer Quay and Tampines.

All ATMs at our branches, including those in our closed branches (except Collyer Quay Branch) will operate as normal for your cash requirements. Quick Cheque Facilities will only be available at our open branches. For more information, please go to

Corporate Client Support Measures

To ease the impact felt by SMEs and corporate treasuries, we have put in place a number of measures to support the continued flow of commercial trade and enable the ongoing collection, handling and deployment of your cash.

Enhanced digital support

  • A dedicated team is ready to provide active support if you are shifting to our digital platforms.
  • Enabling digital submission of payment documentation and extending submission deadlines
    • Acceptance of electronically submitted documentation via HSBCnet and email.
    • 90-day moratorium for the submission of originally signed documentation
  • Enhanced digital support for online trade applications
    • Urgent trade finance applications from customers to the platform will be expedited.

Financing for SMEs1

HSBC is a participating bank for the following Enterprise Singapore financing schemes:

  • The maximum loan quantum under the Enterprise Financing Scheme - known as the SME Working Capital Loan – has been raised from SGD 600,000 to SGD 1 million.
  • The new Temporary Bridging Loan Programme (TBLP) has been expanded to provide additional cash flow support for all business sectors. Under this programme, eligible enterprises can now borrow up to SGD 5 million, with the interest rate capped at 5% p.a. from HSBC.
  • The enhanced Enterprise Financing Scheme (EFS) – Trade Loan has been increased from up to SGD 5 million to now SGD 10 million and the government’s risk-share has also been increased from up to 70% previously, to 90% now based on the Solidarity Budget measures announced on 6 April 2020.
  • Businesses eligible under the SME Working Capital Loan and TBLP may also apply for up to 1-year deferral of principal repayment to help manage their debt1.

For more information on support for SMEs , click here

Cash Management and Liquidity

  • Cash Management BCP advisory service:
    • A Liquidity & Cash Management BCP Advisory team has been assembled to identify and rectify gaps in your treasury BCP models, while providing timely updates and practical advice.
  • Expedited handling for urgent payments
    • During this period of disruption, HSBC will expedite and assist with manual payment handling on a case-by-case basis.

Commercial Trade2

  • Relief to SGD$600 million trade loans to ease business cash flow pressure
    • Pre-approved 60-day extension of trade loans maturing on or before 30 June 2020 without any additional fee or penalty interest.
  • One hour turnaround for issuance of shipping guarantees instead of the standard same-day issuance
    • If you are experiencing delays in receiving shipping documents from counterparties, HSBC will expedite the issuance of shipping guarantees within one hour, as opposed to the standard ‘same-day’ issuance, subject to available limits in your trade facility.
  • Waiver of amendment fees on Letters of Credit impacted by delays
    • If you are impacted by late shipment and late presentation of documents, the waiver of amendment fees on the Letter of Credit (LC) will enable you to change the terms of the LC to avoid penalty costs when suppliers present documents under the LC.

In addition to the above measures, we are regularly assessing developments, and are making necessary adjustments to our business support model. This is to ensure that the potential impact on day-to-day operations and our clients can be minimised.

Should you have any questions, we are here to work with you on tailored solutions that will meet your needs.