Sweeping VRP now available for HSBC Personal and HSBC Business customers

We are excited to announce that our Sweeping Variable Recurring Payments (VRP) service is now available to all Open Banking participants for our HSBC Personal and HSBC Business brands and we are pleased to be the first bank to complete the managed rollout process overseen by the Open Banking implementation Entity (OBIE).

Sweeping VRPs allow for the automated movement of funds between a customer’s own accounts without the need for any manual intervention once the initial consent is setup. This service can, for example, be used to pay off a monthly credit card bill, move money regularly into a savings account or to reduce an overdraft balance.

Details of our Sweeping VRP APIs for HSBC Personal and HSBC Business can be found in our implementation guide, which is available here in our developer portal. We are looking forward to working with Third Party Providers to drive Sweeping adoption for the benefit of consumers.

We will provide a further update for our other brands, first direct and HSBC Kinetic, when they become available.