Covid-19: Customer Support Measures


As the nationwide combat against COVID-19 extends, providing a safe environment for our people and clients is our foremost focus. HSBC in Singapore invoked its Business Continuity Plan (BCP) on 7th February in line with the Singapore Government raising its DORSCON level to orange. Our BCP is designed to minimise disruptions and allow for the continued operation of HSBC’s services to our clients.

A video message from Tony Cripps, CEO, HSBC Singapore

HSBC in Singapore – BCP Arrangements

At a bank-wide level we have activated several measures to minimise the spread of the coronavirus. These include:

  • activating split site operations by locating teams between our two offices in Singapore to ensure that operationally we continue to provide usual service. This is supplemented by home working in line with local regulations. HSBC maintains a robust remote access infrastructure which allows employees to work from home as required, and we intend to optimise the amount of home working where applicable
  • staff are undertaking twice-daily temperature checks including before coming to work. Staff who record readings above 38 degrees are to notify their manager and to stay or return home
  • in addition, we will be taking all visitors’ temperatures upon arrival to our premises
  • we are sending daily reminders to staff on the importance of hygiene and have daily issuance of masks and hand sanitisers across all our premises
  • we have also stepped up cleaning and disinfecting of our premises

Banking services

In line with the pre-emptive measures by the banking industry in Singapore to support the government’s recent efforts to further minimize social interactions in the community amidst the rapidly evolving Covid-19 situation, HSBC Bank (Singapore) will close the following branches from 9 April to 4 May 2020: Alexandra, Collyer Quay, Hillview, Holland Village, Suntec City, Tampines, HSBC Premium Centre as well as both Jade Centres at Claymore and Jewel. Corporate Banking services will also not be available at the Raffles Place branch.

The following branches will remain open and continue to serve our HSBC Corporate Banking customers: Claymore, Jurong, Marine Parade, Orchard Dhoby Ghaut, Serangoon Garden.

All stand-alone ATMs, including those in our closed branches will operate as normal for your cash requirements. Quick Cheque Facilities will only be available at our open branches.

Enhanced digital support

To help you with your business continuity work environment which may become virtual, or where conventional paper flow is not possible, you can take advantage of HSBC’s digital tools, such as our HSBCnet platform.


HSBC Liquidity and Cash Management – Client Support measures

Our measures are designed to ease the impact felt by corporate treasuries and support the ongoing collection, handling and deployment of cash.

Cash Management BCP advisory service

We understand corporate treasuries are facing new and exceptional circumstances which may not have been captured in your existing BCP. For instance, the need to move procurement, expense claims and cash monitoring from paper-based systems to digital platforms quickly, or the process and responsibilities of establishing new services such as virtual cards and virtual accounts.

To support you in adapting to your continuity plans, HSBC has assembled a Liquidity & Cash Management BCP Advisory team.

The team will support in:

  • identifying and rectifying gaps in your treasury BCP models
  • providing timely updates and practical advice, for example reviews of treasury frameworks.

Expedited handling for urgent payments

During this period of disruption, there may be instances where you require urgent support due to order cancellations for manual payments such as client refunds. On a case-by-case basis, the Bank will prioritise and assist clients requiring expedited manual payment handling.

Digital submission of payment documentation and extended submission deadline

During this time, we recognise that you may be in a virtual or BCP work environment where conventional paper flow is disrupted. To remove the requirement for physical meetings in Singapore, we will:

  • accept electronically submitted documentation via HSBCnet and email
  • enable Board Resolutions, payment instructions or new cash management solutions to be completed virtually
  • grant a 90-day moratorium for the submission of originally signed documentation, in recognition of potential delays caused by the current environment.

HSBC Singapore will also provide additional resources to assist existing and new customers shifting to electronic banking platforms.

HSBC Trade Services – Client Support measures

Trade services

Clients submitting and collecting Trade Finance documents should continue to use the existing HSBC Trade Counter located at L12, Mapletree Business City, 20 Pasir Panjang Road.

In the event that our Trade Counter needs to be relocated, we have a robust scenario-driven plan under our BCP, and any changes will be communicated to you directly.

Digital support for trade transactions*

Our HSBCnet platform facilitates transactions and allows you to initiate trade transactions, access real-time trade account information including your trade facility utilization and the details of all your outstanding import and export trade transactions, guarantees and receivables finance.

While using HSBCnet, you can easily:

  • Apply for documentary credit issuances and amendments
  • Transfer a documentary credit
  • Apply to issue a guarantee
  • Provide import bills settlement and acceptance instructions
  • Apply for shipping guarantees, trust receipts or draw on your Receivables Finance available funding

Our Trade Transaction Tracker (available in the HSBCnet Mobile app) gives you an update on transaction and document status.


HSBC will provide additional resources to assist clients which wish to move its operations to digital platforms to enable the flow of trade to continue uninterrupted. Urgent applications submitted on the platform will be expedited and a dedicated team is in place to provide active support.

Trade specific support**

To support the continued flow of commercial trade in Singapore, we have also put in place a number of measures to support our clients including:

  • for eligible clients, HSBC has pre-approved 30-day extension of import trade loans maturing between 14 February and 30 April 2020 without any additional fee or penalty interest
  • for clients experiencing delays in receiving shipping documents from counterparties due to the COVID-19 situation, HSBC will expedite the issuance of shipping guarantees within one hour to facilitate timely manner for clearance of goods
  • for clients affected by late shipment and late presentation of documents, HSBC shall waive amendment fees on the Letter of Credit to help you manage the disruptions during this period.

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 in the event of disruption.

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

* For more tools and capabilities, find out more from our trade specialists
** These are subject to HSBC’s discretion and applicable terms and conditions governing the services.

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