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VAT

We're updating our Schedule of Services and Tariffs to reflect VAT that we are required to collect from our customers on some of our fees and charges pursuant to Oman VAT Law.

In accordance with Royal Decree 121/2020 (Oman VAT Law), if a foreign currency transaction is subject to VAT, the total amount of VAT charged for that transaction will be converted into Oman Rials using the exchange rates published by the Central Bank of Oman. The actual Fee and Charges amount will be converted as per HSBC's internal rate.

The Central Bank of Oman publishes the foreign exchange rates on its website daily from Sunday to Thursday. For any foreign currency transactions conducted on a Friday or Saturday, the Central Bank's rates published on the preceding Thursday will be applicable. In the event that the Central Bank of Oman does not update the exchange rates on a particular day or they are unavailable, HSBC will apply the last published rate.

For more information you can refer to the Sultanate of Oman’s Tax Authority website.

 

What are the changes? 

VAT will be applied to the following fees and charges:

Personal Account

Fee/Charges
Previous Fee
New Fee with VAT
Breach of Minimum Balance (monthly) OMR 0.500 OMR 0.525
Fee if Premier eligibility criteria is not maintained:
Balance of OMR 35,000 in deposits and/or investments
OMR 20 per month OMR 21 per month
Fee if Advance eligibility criteria is not maintained:
Balance of OMR 10,000 in deposits and/or investments OR Salary transfer of OMR 500 per month
OMR 5 per month OMR 5.25 per month
Account closure fee if closed within 1 year of opening OMR 3 OMR 3.150
Standing Instruction set up for intra-bank payments (through the branch) OMR 1 per SI OMR 1.050 per SI
Standing Instruction set up for other standing instructions (through the branch) OMR 2 per SI OMR 2.100 per SI
Issuance of any certificate (Account Balance, No Liability Certificate etc) OMR 2 OMR 2.100
Dormant account charge (if account does not have minimum balance) OMR 1 per half year OMR 1.050 per half year
Deposits/Withdrawals in currency notes other than OMR 1% (Min. OMR 2) 1.05% (Min. OMR 2.100)
Charges for sending secure key/other items by International Courier Actuals up to OMR 25 Actuals up to OMR 26.250
Term deposit premature upliftment rate No deduction from Principal Amount. Interest payment will be reduced by 1% p.a. for the period run No deduction from Principal Amount.
Interest payment will reduce by 1.05% p.a. for the period run

Personal Account

Fee/Charges
Breach of Minimum Balance (monthly)
Previous Fee
OMR 0.500
New Fee with VAT
OMR 0.525
Fee/Charges
Fee if Premier eligibility criteria is not maintained:
Balance of OMR 35,000 in deposits and/or investments
Previous Fee
OMR 20 per month
New Fee with VAT
OMR 21 per month
Fee/Charges
Fee if Advance eligibility criteria is not maintained:
Balance of OMR 10,000 in deposits and/or investments OR Salary transfer of OMR 500 per month
Previous Fee
OMR 5 per month
New Fee with VAT
OMR 5.25 per month
Fee/Charges
Account closure fee if closed within 1 year of opening
Previous Fee
OMR 3
New Fee with VAT
OMR 3.150
Fee/Charges
Standing Instruction set up for intra-bank payments (through the branch)
Previous Fee
OMR 1 per SI
New Fee with VAT
OMR 1.050 per SI
Fee/Charges
Standing Instruction set up for other standing instructions (through the branch)
Previous Fee
OMR 2 per SI
New Fee with VAT
OMR 2.100 per SI
Fee/Charges
Issuance of any certificate (Account Balance, No Liability Certificate etc)
Previous Fee
OMR 2
New Fee with VAT
OMR 2.100
Fee/Charges
Dormant account charge (if account does not have minimum balance)
Previous Fee
OMR 1 per half year
New Fee with VAT
OMR 1.050 per half year
Fee/Charges
Deposits/Withdrawals in currency notes other than OMR
Previous Fee
1% (Min. OMR 2)
New Fee with VAT
1.05% (Min. OMR 2.100)
Fee/Charges
Charges for sending secure key/other items by International Courier
Previous Fee
Actuals up to OMR 25
New Fee with VAT
Actuals up to OMR 26.250
Fee/Charges
Term deposit premature upliftment rate
Previous Fee
No deduction from Principal Amount. Interest payment will be reduced by 1% p.a. for the period run
New Fee with VAT
No deduction from Principal Amount.
Interest payment will reduce by 1.05% p.a. for the period run

Retrieval of records

Fee/Charges
Previous Fee
New Fee with VAT
Retrieval of records - Paid cheques up to 12 months old OMR 2 per document OMR 2.100 per document
Paid cheques more than 12 months old OMR 3 per document OMR 3.150 per document
Copy of sales voucher*
OMR 10 OMR 10.500

Retrieval of records

Fee/Charges
Retrieval of records - Paid cheques up to 12 months old
Previous Fee
OMR 2 per document
New Fee with VAT
OMR 2.100 per document
Fee/Charges
Paid cheques more than 12 months old
Previous Fee
OMR 3 per document
New Fee with VAT
OMR 3.150 per document
Fee/Charges
Copy of sales voucher*
Previous Fee
OMR 10
New Fee with VAT
OMR 10.500

Retrieval of other documents including statements

Fee/Charges
Previous Fee
New Fee with VAT
Other documents including Statements up to 6 months old OMR 1 OMR 1.050
More than 6 months old up to 12 months OMR 3 OMR 3.150
More than 12 months old OMR 5 OMR 5.250

Retrieval of other documents including statements

Fee/Charges
Other documents including Statements up to 6 months old
Previous Fee
OMR 1
New Fee with VAT
OMR 1.050
Fee/Charges
More than 6 months old up to 12 months
Previous Fee
OMR 3
New Fee with VAT
OMR 3.150
Fee/Charges
More than 12 months old
Previous Fee
OMR 5
New Fee with VAT
OMR 5.250

Cheques

Fee/Charges
Previous Fee
New Fee with VAT
Chequebook for Personal Banking Customers (Salaries less than OMR 500) OMR 2 for 25 leaves OMR 2.100 for 25 leaves
Issuance/Cancellation of Cashiers order/Demand draft OMR 2 OMR 2.100
Returned cheque fee OMR 15 OMR 15.750
Cheques for collection outside of Oman OMR 5 OMR 5.250
Overseas Cheques Purchased for Premier customers OMR 5 OMR 5.250 
Overseas Cheques Purchased for Advance and Personal Banking customers OMR 10 OMR 10.500
Stop payment (either single cheque or bunch of serially numbered cheques) OMR 5 OMR 5.250
Cheque photocopy up to 12 months old OMR 2 per document OMR 2.100 per document
Cheque photocopy more than 12 months old OMR 3 per document OMR 3.150 per document

Cheques

Fee/Charges
Chequebook for Personal Banking Customers (Salaries less than OMR 500)
Previous Fee
OMR 2 for 25 leaves
New Fee with VAT OMR 2.100 for 25 leaves
Fee/Charges
Issuance/Cancellation of Cashiers order/Demand draft
Previous Fee
OMR 2
New Fee with VAT OMR 2.100
Fee/Charges
Returned cheque fee
Previous Fee
OMR 15
New Fee with VAT OMR 15.750
Fee/Charges
Cheques for collection outside of Oman
Previous Fee
OMR 5
New Fee with VAT OMR 5.250
Fee/Charges
Overseas Cheques Purchased for Premier customers
Previous Fee
OMR 5
New Fee with VAT OMR 5.250 
Fee/Charges
Overseas Cheques Purchased for Advance and Personal Banking customers
Previous Fee
OMR 10
New Fee with VAT OMR 10.500
Fee/Charges
Stop payment (either single cheque or bunch of serially numbered cheques)
Previous Fee
OMR 5
New Fee with VAT OMR 5.250
Fee/Charges
Cheque photocopy up to 12 months old
Previous Fee
OMR 2 per document
New Fee with VAT OMR 2.100 per document
Fee/Charges
Cheque photocopy more than 12 months old
Previous Fee
OMR 3 per document
New Fee with VAT OMR 3.150 per document

ATM/Debit Cards

Fee/Charges
Previous Fee
New Fee with VAT
Debit card annual fee*
OMR 1 OMR 1.050
ATM card/Debit card Replacement Fee (lost/stolen)*
OMR 2 OMR 2.100
Cash withdrawal fee from other ATMs in Oman*
OMR 0.100 per transaction OMR 0.105 per transaction
Cash Withdrawal at HSBC ATMs abroad*
OMR 1 per transaction OMR 1.050 per transaction
Cash withdrdawal at NON HSBC ATMs abroad*
OMR 2 per transaction OMR 2.100 per transaction
Foreign currency processing fee abroad (Purchase and Cash Withdrawals) 2.6% per transaction 2.73% per transaction

ATM/Debit Cards

Fee/Charges
Debit card annual fee*
Previous Fee
OMR 1
New Fee with VAT
OMR 1.050
Fee/Charges
ATM card/Debit card Replacement Fee (lost/stolen)*
Previous Fee
OMR 2
New Fee with VAT
OMR 2.100
Fee/Charges
Cash withdrawal fee from other ATMs in Oman*
Previous Fee
OMR 0.100 per transaction
New Fee with VAT
OMR 0.105 per transaction
Fee/Charges
Cash Withdrawal at HSBC ATMs abroad*
Previous Fee
OMR 1 per transaction
New Fee with VAT
OMR 1.050 per transaction
Fee/Charges
Cash withdrdawal at NON HSBC ATMs abroad*
Previous Fee
OMR 2 per transaction
New Fee with VAT
OMR 2.100 per transaction
Fee/Charges
Foreign currency processing fee abroad (Purchase and Cash Withdrawals)
Previous Fee
2.6% per transaction
New Fee with VAT
2.73% per transaction

Remittances

Fee/Charges
Previous Fee
New Fee with VAT
Inward remittances in Foreign Currency – If credited to the beneficiary’s foreign currency a/c in the same currency of the remittance OMR 2 equivalent OMR 2.1 Equivalent
Inward remittances in Foreign Currency - If paid in currency notes other than OMR*
1% (Min. OMR 2) 1.05% (Min. OMR 2.1)
Outward Remittances to non HSBC accounts TT local - Electronic OMR 2 OMR 2.100
Local/Central Bank TT Issuance Manual OMR 2 for Premier customers
OMR 3 for Advance and Personal Banking
OMR 2.100 for Premier
OMR 3.150 for Advance and Personal Banking
Outward Remittances to non HSBC accounts - International TT issuance - Electronic OMR 2 for Premier
OMR 3 for Advance
OMR 4 for Personal Banking
OMR 2.100 for Premier
OMR 3.150 for Advance
OMR 4.200 for Personal Banking
Outward Remittances International TT Issuance - Manual OMR 5 OMR 5.250
Additional charge to send International TTs in full outside HSBC Group (Charges "OUR") Electronic/Manual OMR 10 OMR 10.500
 Recall of TT funds/Investigation of TT Status Electronic/Manual OMR 10 OMR 10.500
Outward Remittance to HSBC accounts International TT issuance to accounts within HSBC Group entity - Electronic OMR 2 for Premier 
OMR 3 for Advance 
OMR 4 for Personal Banking
OMR 2.100 for Premier 
OMR 3.150 for Advance 
OMR 4.200 for Personal Banking
Outward Remittance to HSBC accounts International TT issuance to accounts within HSBC Group entity - Manual OMR 5 OMR 5.250
Additional charge to send International TTs in full within HSBC Group (Charges OUR) OMR 5 OMR 5.250

Remittances

Fee/Charges
Inward remittances in Foreign Currency – If credited to the beneficiary’s foreign currency a/c in the same currency of the remittance
Previous Fee
OMR 2 equivalent
New Fee with VAT
OMR 2.1 Equivalent
Fee/Charges
Inward remittances in Foreign Currency - If paid in currency notes other than OMR*
Previous Fee
1% (Min. OMR 2)
New Fee with VAT
1.05% (Min. OMR 2.1)
Fee/Charges
Outward Remittances to non HSBC accounts TT local - Electronic
Previous Fee
OMR 2
New Fee with VAT
OMR 2.100
Fee/Charges
Local/Central Bank TT Issuance Manual
Previous Fee
OMR 2 for Premier customers
OMR 3 for Advance and Personal Banking
New Fee with VAT
OMR 2.100 for Premier
OMR 3.150 for Advance and Personal Banking
Fee/Charges
Outward Remittances to non HSBC accounts - International TT issuance - Electronic
Previous Fee
OMR 2 for Premier
OMR 3 for Advance
OMR 4 for Personal Banking
New Fee with VAT
OMR 2.100 for Premier
OMR 3.150 for Advance
OMR 4.200 for Personal Banking
Fee/Charges
Outward Remittances International TT Issuance - Manual
Previous Fee
OMR 5
New Fee with VAT
OMR 5.250
Fee/Charges
Additional charge to send International TTs in full outside HSBC Group (Charges "OUR") Electronic/Manual
Previous Fee
OMR 10
New Fee with VAT
OMR 10.500
Fee/Charges
 Recall of TT funds/Investigation of TT Status Electronic/Manual
Previous Fee
OMR 10
New Fee with VAT
OMR 10.500
Fee/Charges
Outward Remittance to HSBC accounts International TT issuance to accounts within HSBC Group entity - Electronic
Previous Fee
OMR 2 for Premier 
OMR 3 for Advance 
OMR 4 for Personal Banking
New Fee with VAT
OMR 2.100 for Premier 
OMR 3.150 for Advance 
OMR 4.200 for Personal Banking
Fee/Charges
Outward Remittance to HSBC accounts International TT issuance to accounts within HSBC Group entity - Manual
Previous Fee
OMR 5
New Fee with VAT
OMR 5.250
Fee/Charges
Additional charge to send International TTs in full within HSBC Group (Charges OUR)
Previous Fee
OMR 5
New Fee with VAT
OMR 5.250

Other Benefits

Fee/Charges
Previous Fee
New Fee with VAT
International Account Opening*
USD 100 for Advance
USD 200 for Personal Banking
USD 105 for Advance
USD 210 for Personal Banking
Deposit or withdrawal in currency notes other than OMR at the branch 1% (Min. OMR 2) 1.05% (Min. OMR 2.1)

Other Benefits

Fee/Charges
International Account Opening*
Previous Fee
USD 100 for Advance
USD 200 for Personal Banking
New Fee with VAT
USD 105 for Advance
USD 210 for Personal Banking
Fee/Charges
Deposit or withdrawal in currency notes other than OMR at the branch
Previous Fee
1% (Min. OMR 2)
New Fee with VAT
1.05% (Min. OMR 2.1)

Personal Loans

Fee/Charges
Previous Fee
New Fee with VAT
Arrangement Fee (New loans) OMR 25 OMR 26.25
Arrangement Fee (Top up Loans) OMR 5 OMR 5.250
Late Payment Charge 1% of the overdue installment 1.05% of the overdue installment
Pre-payment/Pre-closure of loan 1% of amount repaid 1.05% of amount repaid
Partial payment of loan (Min. OMR 1,000) 1% of partial payment amount  1.05% of partial payment amount
Loan rescheduling fees OMR 5 OMR 5.25
No liability letter OMR 2 OMR 2.100
Installment deferment fee for Personal Loans only (except deferment during Eid) OMR 5 OMR 5.25

Personal Loans

Fee/Charges
Arrangement Fee (New loans)
Previous Fee
OMR 25
New Fee with VAT
OMR 26.25
Fee/Charges
Arrangement Fee (Top up Loans)
Previous Fee
OMR 5
New Fee with VAT
OMR 5.250
Fee/Charges
Late Payment Charge
Previous Fee
1% of the overdue installment
New Fee with VAT
1.05% of the overdue installment
Fee/Charges
Pre-payment/Pre-closure of loan
Previous Fee
1% of amount repaid
New Fee with VAT
1.05% of amount repaid
Fee/Charges
Partial payment of loan (Min. OMR 1,000)
Previous Fee
1% of partial payment amount 
New Fee with VAT
1.05% of partial payment amount
Fee/Charges
Loan rescheduling fees
Previous Fee
OMR 5
New Fee with VAT
OMR 5.25
Fee/Charges
No liability letter
Previous Fee
OMR 2
New Fee with VAT
OMR 2.100
Fee/Charges
Installment deferment fee for Personal Loans only (except deferment during Eid)
Previous Fee
OMR 5
New Fee with VAT
OMR 5.25

Mortgage Loans

Fee/Charges
Previous Fee
New Fee with VAT
Processing fee OMR 50 OMR 52.500
Late Payment Charge 1% of the overdue installment 1.05% of the overdue installment
Pre-payment/Pre-closure of loan 1% of amount repaid 1.05% of amount repaid
Partial payment of loan (Min. OMR 1,000) 1% of partial payment amount  1.05% of partial payment amount
Loan rescheduling fees OMR 5 OMR 5.250

Mortgage Loans

Fee/Charges
Processing fee
Previous Fee
OMR 50
New Fee with VAT
OMR 52.500
Fee/Charges
Late Payment Charge
Previous Fee
1% of the overdue installment
New Fee with VAT
1.05% of the overdue installment
Fee/Charges
Pre-payment/Pre-closure of loan
Previous Fee
1% of amount repaid
New Fee with VAT
1.05% of amount repaid
Fee/Charges
Partial payment of loan (Min. OMR 1,000)
Previous Fee
1% of partial payment amount 
New Fee with VAT
1.05% of partial payment amount
Fee/Charges
Loan rescheduling fees
Previous Fee
OMR 5
New Fee with VAT
OMR 5.250

Credit Cards

Fee/Charges
Previous Fee
New Fee with VAT
Credit Card membership fees for Personal Banking customers only OMR 20 OMR 21
Primary card annual fee for HBSC Platinum Credit Card OMR 30 OMR 31.500
Cash Advance fee 3% of total amount (Min. OMR 5) 3.15% of total amount (Min. OMR 5.250)
Card replacement fee (Lost Cards) OMR 5 OMR 5.250
Late payment fee OMR 7 OMR 7.350
Overlimit fee OMR 5 OMR 5.250
Charge for disputing a transaction subsequently found to be genuine OMR 10 OMR 10.500
Access to HSBC deposit accounts through VISA/Plus, Master/Cirrus or OmanNet SwitchATMs OMR 2 per transaction OMR 2.100 per transaction
Access to HSBC deposit accounts through HSBC ATMs Outside Oman*
OMR 1 per transaction OMR 1.050 per transaction
Foreign currency transactions processing fee 3% 3.1500%

Credit Cards

Fee/Charges
Credit Card membership fees for Personal Banking customers only
Previous Fee
OMR 20
New Fee with VAT
OMR 21
Fee/Charges
Primary card annual fee for HBSC Platinum Credit Card
Previous Fee
OMR 30
New Fee with VAT
OMR 31.500
Fee/Charges
Cash Advance fee
Previous Fee
3% of total amount (Min. OMR 5)
New Fee with VAT
3.15% of total amount (Min. OMR 5.250)
Fee/Charges
Card replacement fee (Lost Cards)
Previous Fee
OMR 5
New Fee with VAT
OMR 5.250
Fee/Charges
Late payment fee
Previous Fee
OMR 7
New Fee with VAT
OMR 7.350
Fee/Charges
Overlimit fee
Previous Fee
OMR 5
New Fee with VAT
OMR 5.250
Fee/Charges
Charge for disputing a transaction subsequently found to be genuine
Previous Fee
OMR 10
New Fee with VAT
OMR 10.500
Fee/Charges
Access to HSBC deposit accounts through VISA/Plus, Master/Cirrus or OmanNet SwitchATMs
Previous Fee
OMR 2 per transaction
New Fee with VAT
OMR 2.100 per transaction
Fee/Charges
Access to HSBC deposit accounts through HSBC ATMs Outside Oman*
Previous Fee
OMR 1 per transaction
New Fee with VAT
OMR 1.050 per transaction
Fee/Charges
Foreign currency transactions processing fee
Previous Fee
3%
New Fee with VAT
3.1500%

Copy of previous statements

Fee/Charges
Previous Fee
New Fee with VAT
Up to 6 months old OMR 1 OMR 1.050
6 months to 12 months old OMR 3 OMR 3.150
More than 12 months old OMR 5 OMR 5.250

Copy of previous statements

Fee/Charges
Up to 6 months old
Previous Fee
OMR 1
New Fee with VAT
OMR 1.050
Fee/Charges
6 months to 12 months old
Previous Fee
OMR 3
New Fee with VAT
OMR 3.150
Fee/Charges
More than 12 months old
Previous Fee
OMR 5
New Fee with VAT
OMR 5.250

*Applies only to Advance and Personal Banking customers.

The updates to our Schedule of Services and Tariffs will take effect from 16 April 2021.

 

What do you need to do?

You should carefully review above changes to ensure that you understand the changes made and how they may affect you. 

If you have any questions about these changes, please contact us by visiting your nearest Branch or contacting our call centre. 

Personal Banking customers

800 7 4722 (within Oman)

+968 24950601 (outside Oman)

HSBC Advance customers

800 7 5555 (within Oman)

+968 24950603 (outside Oman)

HSBC Premier customers

800 7 4666 (within Oman)

+968 24950602 (outside Oman)