What is the CBPR2?
Phase 1 – Equalisation, implemented on 15th December 2019 as per the inclusion of non-Euro EU countries.
Phase 2 – Transparency on online and mobile credit transfers and card based transactions implemented as from19th April 2020.
Phase 3 – Electronic notifications for estimated currency conversion charges, as from 19th April 2021.
What are the benefits of CBPR2?
What kind of payments does CBPR2 apply to?
The regulation applies directly to intra-EU payments in the currency of an EU member state and only for card based transactions and credit transfer that is initiated online directly, using the website or the mobile banking application of the Bank.
The regulation does not apply directly to EEA currencies or to payments to/from EEA jurisdictions. However, it is expected to be adopted into EEA law in due course. HSBC therefore, proactively included EEA currencies in the scope of CBPR2.
Does implementation of CBPR2 increase my costs related to services I use with HSBC?
Are there any changes to my card-based transactions?
Are there any changes to my online and mobile banking?
How will I receive notifications on currency conversion charges for my card transactions within EEA?
These changes have been all done for you and for your benefit. If you find any changes related to CBPR2 unclear or making your online banking more difficult, please let us know by using our contact details.
General terms and conditions for individuals – version 03/2021 (PDF, 2.40MB)
(effective for new customers immediately and from 15/05/2021 for existing customers)