HSBC Singapore to give cash management advice to COVID-hit firms

They will also assist clients who need to expedite their manual payment handling.

HSBC Singapore is extending cash management advice and expediting urgent payments for firms affected by the coronavirus, according to a news release.

Amidst the outbreak, many businesses are facing disruptions in transitioning to their liquidity management Business Continuity Plans (BCP). The bank has assembled liquidity and cash management BCP advisory team to identify and correct gaps in clients’ treasury BCP models through updates and practical advice.

In addition, HSBC said that it will prioritise and assist clients who need to speed up their manual payment handling on a case-to-case basis.

The bank will also accept digitally-submitted documents via HSBCnet and email, whilst a 90-day moratorium will be granted for the submission of originally signed documents.

HSBC added that it will offer additional resources to assist customers shifting to electronic banking platforms.