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The Hongkong and Shanghai Banking Corporation Ltd.

Research notes as of 09 Oct 2026, not legal or tax advice. VERIFIED means we read the primary source, REPORTED means secondary sources only, and UNCERTAIN means the law or practice is unclear. Ask your bank or a CA before acting on uncertain points.

How to file with The Hongkong and Shanghai Banking Corporation Ltd.

From the bank's published export policy and other sources, checked 2026-10-04. Banks are still settling their procedures, so confirm with your branch.

How to submit

  • HSBC DigiTrade verified

    SOP: 'EDF details must be submitted to the AD Bank via DigiTrade, the SFG mailbox or manually'. DigiTrade is the business trade portal; retail (personal banking) access is not stated.

    Source

  • SFG mailbox verified

    SOP names 'the SFG mailbox' (address not published in the SOP). Inward purpose confirmations are accepted through UniTransact (UTB) or email.

    Source

  • Manual submission verified

    SOP allows manual submission (signed physical instruction per mandate).

    Source

Documents the bank may ask for

  • Customer request including applicable declarations verified
  • EDF form/details or purpose-of-payment declaration verified
  • Commercial invoice verified
  • SAC and purpose code (service classification with clear description) verified
  • Contract / PO / statement of work where required; IRM details for realisation verified
  • <= INR 10 lakh per invoice: customer declaration in prescribed format + invoice & EDF details + IRM details verified
IEC needed?
Not confirmed. Ask your bank
Timing
SOP: EDF details at the time of export of services or at the latest by the date of export realisation; if proceeds are credited before EDF details, prior approvals needed and complete EDF details within 10 working days of credit. EDF attestation within 5 working days of a complete request (policy).
Charges
Trade standard tariff w.e.f. 1 Oct 2026: EDF attestation charges for software exports = annual slab (from INR 8,000 for turnover up to INR 12.5 lakh) or INR 200 per invoice; EDF extension INR 2,000; reduction/write-off INR 2,000; change of buyer INR 2,000; BRC issuance nil. Tariff is the corporate-banking tariff; retail tariff for EDF not found.
FIRA / FIRC
Inward remittance advice / SWIFT / FIRC listed as documents for export proceeds credit; BRC issuance nil in tariff. Retail FIRC fee not verified.
Declaring the purpose code
Inward purpose confirmation through UniTransact (UTB) or email (SOP). HSBC publishes an RBI purpose-code list PDF.

Recommendations

  • HSBC business clients: submit monthly EDF details on DigiTrade (preferred) or via the SFG mailbox; ask the RM for the mailbox address.
  • HSBC retail clients (freelancers on a personal savings account): no retail EDF channel is published; ask the branch/RM whether DigiTrade or email is available. Consider an HSBC current account if exporting regularly.
  • File the EDF before money arrives; HSBC requires complete EDF details within 10 working days of credit if proceeds arrive first.
  • Software exporters at HSBC face EDF attestation fees (INR 200 per invoice or an annual slab) under the corporate tariff; budget for this.
  • Individuals can hold EEFC at HSBC (FAQ: 'individuals, companies, etc., who are resident in India'; retail EEFC undertaking form exists).

The bank's export policy (FEMA 23(R)/2026, Reg. 19 disclosure)

Sources