Important Notices

Following the recent amendment to Service Tax Policy No. 1/2025 (“STP 1/2025”) – Appendix A, Item (A) 1.2 by the Royal Malaysian Customs Department (RMCD), as published on MySST website on 28 August 2025, HSBC Malaysia Bank Berhad and HSBC Amanah Bank Berhad (“HSBC” or “the Bank”) would like to share the following key updates for your awareness:

Variation in Scope for the imposition of Service Tax

RMCD has updated Item 1(A) 1.2 of Appendix A with header “Corporate Banking Services or similar services”, removing the term ‘Advisory’ and replacing it with the term ‘Services’. Essentially, this means that service tax should apply to all facility-related fees falling within the scope and not limited to only advisory fees as communicated previously.

Definition of “Corporate Banking”

As guided by RMCD, with the removal of the term “Advisory,” the 8% SST imposed on the applicable fees will apply to Corporate Banking customers based on the definition prescribed by the banks.

For HSBC, Corporate Banking customers are defined as legal entities with RM500m turnover based on latest audited accounts or latest 12 months financials which are available to the Bank.

Implementation

Please be advised that this amendment represents a variation (or expansion) to the previous scope of corporate banking advisory services under Phase 1 as implemented effective on 1 July 2025. This revised scope (replacing ‘Advisory’ with ‘Services’, applicable to Corporate Banking customers) comes into effect from 2 September 2025. As clarified with RMCD, there is no need to collect service tax for the period between 1 July 2025 to 1 September 2025.

To find out more information on SST you may refer to https://mysst.customs.gov.my/. If you have further questions, feel free to contact your dedicated Relationship Manager.

We appreciate your understanding and continued support.

The Malaysian government has expanded the scope of service tax for financial services as proposed in the 2025 Malaysian Budget. We would like to inform you that with this implementation, there will be some changes in the way we are charging our service tax.

Key Changes:

• Effective Date: The expanded scope of service tax will be implemented in phases starting July 1, 2025.
• Tax Rate: The rate of service tax will be 8%. The existing service tax of RM25 per corporate credit card will be maintained.
• Services Affected: Under the initial phase, any corporate banking advisory related fees, eg. arrangement fees for advisory services provided is expected to be imposed with 8% SST. This applies to both Conventional and Amanah services.

This change is part of a broader effort to align with new tax policies under the 2025 Budget. As a result, certain banking services provided by HSBC will be subject to this updated service tax framework and may be revised periodically.

To find out more information, refer to https://mysst.customs.gov.my/.

If you have further questions, feel free to contact your dedicated Relationship Manager.

We appreciate your understanding and continued support.

_{28^th FEBRUARY 2025}

_{Dear Valued Customers,}

_{Effective 15^th APRIL 2025 , the Specific Terms and Conditions for Term Deposit Account and Term Deposit-i will be revised as follows with regards to new placement/renewal of Term Deposit Account and Term Deposit-i: -}

_{In view of the above, effective 15th APRIL 2025, no interest/profit will be payable for withdrawals of new/renewed term deposits/term deposit-i made before maturity date.}

24 December 2024

Dear Valued Customers,

Kindly be informed that effective 01 January 2025, the stamp duty for cheque book issuance and foreign currency cheque for collection is revised as follows. This revision is in line with the latest Finance Bill passed on 04 December 2024.

The revised stamp duty will be updated in our Tariff and Charges available here

Frequently Asked Questions (FAQs) on Cheque Book Issuance and Foreign Currency Cheque for Collection Stamp Duty

Thank you.

Monthly Submission of Statement Inter-company Account by Resident Companies

Dear Customers,
Bank Negara Malaysia (BNM) is requesting all resident companies with:

1. annual gross export value of RM50 million and above in goods or services (based on the latest calendar year); and
2. netting arrangement with non-resident counterpart,

to submit monthly reports on their Inter-company Account transactions (Statement IA) to Jabatan Pengurusan Data dan Statistik, Bank Negara Malaysia.

Resident company that fulfills both criteria (i) and (ii) above is required to contact the Cash BOP Reporting team via e-mail at cashbop@bnm.gov.my to initiate the submission of Statement IA through BNM’s External Sector Statistics Portal.

The Cash BOP Reporting team can also be contacted via the same e-mail address for any further information or clarification on the matter.

Thank you.

Pengemukaan Penyata Bulanan Akaun Antara Syarikat oleh Syarikat Pemastautin

Pelanggan yang dihormati, Bank Negara Malaysia (BNM) meminta kesemua syarikat pemastautin dengan:

1. nilai eksport kasar barangan atau perkhidmatan tahunan sebanyak RM50 juta dan ke atas (berdasarkan tahun kalendar terkini); dan
2. pengaturan jaringan dengan rakan niaga bukan pemastautin,

untuk mengemukakan laporan bulanan tentang urus niaga Akaun Antara Syarikat mereka (Penyata IA) kepada Jabatan Pengurusan Data dan Statistik, Bank Negara Malaysia.

Syarikat pemastautin yang memenuhi kriteria (i) dan (ii) di atas dikehendaki menghubungi pasukan Pelaporan Imbangan Bayaran Tunai (Cash BOP) melalui e-mel di cashbop@bnm.gov.my untuk memulakan pengemukaan Penyata IA itu melalui Portal Statistik Sektor Luar BNM.

Pasukan Pelaporan Cash BOP itu juga boleh dihubungi melalui alamat e-mel yang sama untuk maklumat atau penjelasan lanjut mengenai perkara ini.

Sekian, Terima Kasih.

31 January 2024

Dear Valued Customers,

Please be informed that the Overseas HSBC Group’s ATM (GATS) service will cease to support Debit and Credit cards issued in Malaysia starting from 1 March 2024 to further improve our Automated Teller Machine (ATM) security controls.

After which, all ATM transactions performed by HSBC Malaysia / HSBC Amanah clients at HSBC or Non-HSBC ATMs outside Malaysia will be processed by VISA or MasterCard network.

The chargeable fees for cash withdrawals at VISA / Mastercard (non-MEPS) ATM network are available in our tariff and charges, which can be viewed at both our HSBC Malaysia and HSBC Amanah public website respectively.

Note: Every overseas withdrawal transaction is subject to the fee imposed by the Bank, ATM operator and Network service provider.

Please remember to activate your Business ATM Card overseas withdrawal service function at your nearest HSBC/HSBC Amanah branch in advance to ensure that you can use the overseas ATM cash withdrawal services.

Thank You.

English version

Date: 11 December 2023

Dear Customers,

Please be informed that the Notice to Customer relating to the Personal Data Protection Act 2010 (“Privacy Notice”) has been revised in accordance with the revised Policy Document on Management of Customer Information and Permitted Disclosures by Bank Negara Malaysia which comes into effect on 1 January 2024.

In summary, we have improved the clarity of terms in our Privacy Notice including:

1. explanation on purpose of the Privacy Notice and how it affects you;
2. explanation on who this Privacy Notice applies to;
3. addition of the website URL for Banking Terms and Conditions for our corporate customers;
4. to provide a shorter processing period when you request to be removed from our marketing mailing list, which has been updated from 30 days to 7 days; and
5. Online Banking has been removed as a channel to request for access to your personal data with us as the system is no longer supported. However, your right to request access remains via the other remaining channels mentioned in the Privacy Notice.

Please be assured that the purpose and scope of our data collection and processing has not changed. As always, the Bank views your personal data and privacy seriously.

The revised Privacy Notice (version December 2023) will come into effect on 1 January 2024 is available at https://www.hsbc.com.my/privacy-and-security/

Jointly issued by:
HSBC Bank Malaysia Berhad (198401015221 (127776-V))
HSBC Amanah Malaysia Berhad (200801006421 (807705-X))

Bahasa Malaysia version

Tarikh: 11 December 2023

Pelanggan yang dihormati,

Harap maklum bahawa Notis kepada Pelanggan berkaitan Akta Perlindungan Data Peribadi 2010 (“Notis Privasi”) telah dipinda mengikut pindaan Dokumen Polisi mengenai Pengurusan Maklumat Pelanggan dan Pendedahan yang Dibenarkan oleh Bank Negara Malaysia yang akan berkuatkuasa pada 1 Januari 2024.

Kami telah merperjelaskan Notis Privasi kami seperti berikut:

1. menerangkan tujuan Notis Privasi ini dan bagaimana ianya terkesan kepada anda;
2. penjelasan mengenai siapa Notis Privasi ini terpakai;
3. meletakkan URL tapak web untuk Terma-terma dan Syarat-syarat Perbankan untuk pelangan korporat kami;
4. mengurangkan tempoh pemprosesan daripada 30 hari ke 7 hari apabila anda meminta untuk dikeluarkan daripada senarai mel pemasaran langsung kami; dan
5. Perbankan Internet kini tidak lagi beroperasi sebagai saluran untuk meminta akses kepada data peribadi anda yang dipegang oleh kami. Walau bagaimanapun, saluran-saluran lain yang tertera di dalam Notis Privasi kami masih dibolehpakai untuk meminta akses kepada data anda.

Sila yakin bahawa tujuan dan skop pengumpulan dan pemprosesan data kami tidak berubah. Seperti biasa, Bank memandang serius data peribadi dan privasi anda.

Notis Privasi yang dipinda (versi Disember 2023) akan berkuat kuasa pada 1 Januari 2024 boleh didapati di https://www.hsbc.com.my/privacy-and-security/

Dikeluarkan bersama oleh:
HSBC Bank Malaysia Berhad (198401015221 (127776-V))
HSBC Amanah Malaysia Berhad (200801006421 (807705-X))

This is to inform that we have amended our Generic Terms and Conditions which governs your HSBC/HSBC Amanah accounts and related services, as follows:

Under the Malaysia Country Conditions:

• New Clause 2.2 of the Country Conditions which reads as follows has been added:
  
  “2.2 Clause 10 of the Master Services Agreement and the Confidentiality and Regulatory Annex are supplemented as follows:
  
  (a) the Customer consents to Bank Negara Malaysia to disclose the Customer’s credit information to other financial institutions, credit reporting agencies and such other persons as stipulated under section 47(2) of the Central Bank of Malaysia Act 2009 (as may be amended from time to time) as Bank Negara Malaysia thinks fit or deems necessary to access and use the said information for purposes stipulated under the said legislation, which may include but not limited to assessing the creditworthiness of existing and potential customers, providing credit reporting or credit assessment services, providing Know-Your-Customer (e-KYC) solutions and providing financial advisory services (“Purposes deemed necessary by BNM”);
  
  (b) the Customer consents to these financial institutions, credit reporting agencies and such other persons as stipulated under section 47(2) of the Central Bank of Malaysia 2009 (as may be amended from time to time) who receive the Customer’s credit information from Bank Negara Malaysia pursuant to Clause 2.2(a) above to access and use such credit information for the Purposes deemed necessary by BNM.”
  
  
• Clause 9.1(a) of the Country Conditions has been revised to include the underlined wordings:
  
  “(a) in connection with marketing of the provision of accounts, products and/or Services by the Bank and members of the Group to the Customer and its Connected Person generally (applicable if consent has been given by the Customer or the consent has not been subsequently withdrawn)”
  
  
• New Clause 11 of the Country Conditions which reads as follows has been added as follows:
  
  “Clause 14.1 and 14.2 of the Master Services Agreement is supplemented as follows:
  
  (a) If there remains any credit balance in the Accounts on the closure date, the Bank will refund such balances to the Customer via cashier’s order, or demand draft, or via such electronic means as determined by the Bank, after the closure date;
  
  (b) If there remains any credit balance in Foreign Currency Accounts on the closure date, the Bank will convert such balances denominated in foreign currency(ies) into Ringgit Malaysia (MYR) at the Bank’s prevailing spot buying rate and refund the balances in MYR to the Customer via cashier’s order, or demand draft, or via such electronic means as determined by the Bank, after the closure date.”
  
  

Under the Malaysia Account Disclosures:

• Clause 6 of the Account Disclosures has been revised to include the underlined wordings as follows:
  
  “ The Bank may use, analyse and assess Customer Information to provide the Customer with information on products and Services of the Bank or members of the Group and those of selected third parties which the Bank thinks may interest the Customer via any means of communication. The Bank may pass this information to other members of the Group so that they may do the same unless the Customer has objected to such disclosure for purposes of cross-selling.
  
  If the Customer:
  
  (a) wishes to withdraw its consent for the Bank and/or members of the Group to process, transfer and disclose Customer Information in connection with marketing of the provision of accounts, products and/or Services by the Bank and/or members of the Group to the Customer and/or its Connected Persons generally; or
  
  (b) does not wish to receive any direct marketing information from the Bank;
  
  The Customer may inform the Bank by:
  
  
  • contacting our Contact Centre from 7:30a.m. to 9:30p.m. Monday to Friday (except public holidays). The contact number is available at www.hsbc.com.my or www.hsbcamanah.com.my;
    
    
  • chatting with one of our live agents who are online from 9:00a.m. to 6:00p.m. Monday to Friday (except public holidays) via the “Need Help” chat function on our public website at www.hsbc.com.my or www.hsbcamanah.com.my.
    
    
  Please note that in order to keep you updated on important messages, the Bank will still send you mandatory or operational communications even though you have withdrawn your consent mentioned above or unsubscribed.”
  
  

Why the change?

• Compliance with BNM’s Policy Documents/ Guidelines
  
  We have added the clause on the consent for BNM to disclose Customer’s credit information pursuant to BNM’s Policy Document on Central Credit Reference Information System (CCRIS) Requirements on the Submission, Usage and Protection of Credit Information.
  
  The clause on consent (and the subsequent withdrawal of consent) for the sharing of information for marketing purpose is added pursuant to BNM’s latest Policy Document on Management of Customer Information and Permitted Disclosures.
  
  
• Clarification in the event of closure of bank accounts
  
  We have added wordings in the Country Conditions to clarify the method(s) on how the Bank may refund any credit balances upon closure of bank accounts.
  
  

Effective Date:

These changes become effective on 1 January 2024.

What else do you need to know?

• For Existing Customers before the Effective Date, you are considered to have given your consent to HSBC to share your information for marketing purposes. If this is not the understanding, you are requested to withdraw your consent via the methods provided in the Account Disclosures.
• For New Customers on or after the Effective Date, you are given the option in the Onboarding Form to provide your consent to the Bank to share your information for marketing purposes.

Where can I find the Generic Terms and Conditions with the amendments shown above?

The Malaysia Country Conditions and the Malaysia Account Disclosures reflecting the above amendments can be downloaded here:

• Malaysia Country Conditions (November 2023 Edition)(English) (PDF, 176KB)
• Malaysia Country Conditions (November 2023 Edition) (BM) (PDF, 129KB)
• Malaysia Account Disclosures (November 2023 Edition)(English) (PDF, 192KB)
• Malaysia Account Disclosure (November 2023 Edition) (BM) (PDF, 191KB)

The above terms shall become effective on 1 January 2024. Meanwhile, the existing terms shown below shall apply until 31 December 2023:

• Malaysia Country Conditions (September 2020 Edition)(English) (PDF, 232KB)
• Malaysia Country Conditions (September 2020 Edition)(BM) (PDF, 231KB)
• Malaysia Account Disclosures (July 2021 Edition) (English) (PDF, 804KB)
• Malaysia Account Disclosure (July 2021 Edition) (BM) (PDF, 1.40MB)

5 August 2021
Dear Valued Customers,

We would like to inform that the Relationship Terms of Business has been revised on 5th August 2021 for all new and existing customers of HSBC Bank and HSBC Amanah. The amendments made are mainly to provide better clarification on how we process your personal data, update on ways for you to access and correct your data held by HSBC Bank and HSBC Amanah respectively and unsubscribing from marketing mailing list. You may download the revised Relationship Terms of Business here.

2 August 2021

Dear Valued Customers,

We would like to inform that the Malaysia Account Disclosures, which is appended to our Generic Terms and Conditions and supplements the Master Services Agreement and the Malaysia Country Conditions have been revised on 2 August 2021 for all new and existing customers of HSBC Bank and HSBC Amanah.

The amendments made are mainly to provide better clarification on how we process your personal data, update on ways for you to access and correct your data held by the HSBC Bank and HSBC Amanah respectively and unsubscribing from marketing mailing list. You may download the revised Malaysia Account Disclosures here.

Please be informed that HSBC Amanah Malaysia Berhad ("the Bank") will grant a rebate to commercial banking customers for the unearned profit portion for all sale-based financing facilities, in accordance with Bank Negara Malaysia's "Guidelines on Ibra' (Rebate) for Sale-Based Financing". Click here (PDF,208KB) to read full notice.