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

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

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)

Personal Account

Personal Account

Retrieval of records

Retrieval of records

Retrieval of other documents including statements

Retrieval of other documents including statements

Cheques

Cheques

ATM/Debit Cards

ATM/Debit Cards

Remittances

Remittances

Other Benefits

Other Benefits

Personal Loans