Overview
Direct Credit is a product that allows the debit of a single account to credit multiple accounts held either at Bank of Bermuda or with another local bank. Businesses that regularly process high volumes of credit transactions should use Direct Credit.
The customer must generate an electronic Direct Credit instruction, either through the production of a file from their back office system or by using the Automated Clearing House (ACH) tool on HSBCnet. Bank of Bermuda will then use that instruction to debit the specified HSBC account and credit the bank accounts detailed within the file.
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