Online Payments via HSBC
The HSBC integration in Zoho Spend brings your reimbursement and payment processes into one secure, connected workflow. With this integration, you can reimburse employee expenses, make payments for vendor bills, and pay your employees’ salaries directly from Zoho Spend.
How Does Online Payments via HSBC Work
Once the integration is enabled, Zoho Spend routes your payments through HSBC, while ensuring that your financial information remains safe. Each transaction you initiate from Zoho Spend can be reviewed and authorised in HSBCnet, allowing your organisation to process payments efficiently and maintain clear visibility into their status.
You must first set up your HSBC corporate account in Zoho Spend using the integration credentials provided by HSBC. Once the integration is enabled:
- The HSBC bank account you configure will be used to initiate online payments.
- Employees can add their bank accounts to receive reimbursements and salary payments.
- You can reimburse approved expense reports from within Zoho Spend.
- Initiate payments to your vendors individually or in bulk.
- View transaction status and real-time account balance.
- Make cross-border payments to your international vendors.
- Directly deposit your employees’ salaries.
After you initiate a reimbursement, salary disbursement, or vendor payment in Zoho Spend, the payment must be authorised in HSBCnet. The time taken to receive payments depends on the transaction type (NEFT or RTGS) and bank processing times.
Zoho Spend does not store your HSBC credentials or bank account details in plain text, and your financial data is handled securely.
Set Up HSBC Integration
Before you set up the HSBC integration in Zoho Spend, ensure you have the following:
- An HSBC corporate current account.
- The integration credentials shared by HSBC for Zoho Spend (such as Profile ID, Client ID, Client Secret, and HSBC Public Key).
If you do not have these credentials yet, you can request them using the HSBC contact form during setup.
To set up HSBC in Zoho Spend:
- Go to Settings on the left sidebar.
(OR)
Click Settings in the top right corner of the page. - Click Online Payments under Payments.
- Click HSBC.
- Select Set Up Now.
- In the pop-up that appears, read and agree to the terms and conditions for this integration.
- Click Proceed to Connect.
You’ll be redirected to the HSBC portal, where you must complete the authentication within 5 minutes. If the time expires, delete the integration and re-initiate the setup.
Authenticate HSBCnet Account
In the HSBC portal, you can authenticate your HSBCnet account and choose the bank accounts you want to connect with Zoho Spend. To authenticate:
- Click Log on if you are already using HSBCnet app.
- Enter your HSBC Username and click Continue.
- Authenticate your account using mobile notification or a security code from your HSBCnet app and click Continue.
- Select the bank accounts you want to integrate with Zoho Spend.
- Accept the Terms and Conditions and click Continue.
Once authenticated, the HSBC integration will appear under Connected Banks in Zoho Spend with the status marked as Initiated. The integration may take up to 30 minutes to be processed. After that, click Check Status to manually update the status.
Complete Setup
Once the status is updated to Pending, complete the integration setup.
1. Configure Bank Accounts
You can select the HSBC bank accounts from which you want to initiate employee reimbursement, salary payments, and vendor payments. To configure:
- Select the HSBC bank accounts from the dropdown.
- Click Save.
Your bank accounts will be added. Then, you can proceed to configure user access.
2. Manage Users
Since this is an organisation level integration, you’ll need to grant access to users so they can initiate payments. To provide access:
- Select the users from the dropdown.
- Click Save.
Once done, you can create your Secret PIN.
3. Create Secret PIN
Each user with access to this integration must set up a Secret PIN, which will be used to authorise all HSBC transactions initiated from Zoho Spend. To create a Secret PIN:
- Enter a 6-digit Secret PIN.
- Confirm the PIN by entering it again and click Save.
Warning:
- You have 5 attempts to enter the correct Secret PIN.
- If you fail all 5 attempts, the HSBC integration will be marked as inactive.
- To continue using the integration, you must delete it and set it up again.
Once the setup is complete, the integration’s status will be updated to Active.
Add Employees’ Bank Accounts
After the admin sets up the HSBC integration, employees must add their bank accounts in Zoho Spend to receive reimbursements and salary payments.
Employees can add their bank accounts under their profile. Once the bank account is added and verified, reimbursements and salary payments will be credited to that account.
Reimburse Employees via HSBC
After the integration is enabled and employees have added their bank accounts, admins or users with permission to reimburse can initiate reimbursements via HSBC.
Prerequisites:
- The bank accounts to which you’re initiating reimbursements must be within India.
- If you’re reimbursing through NEFT, the reimbursement amount must be less than ₹2,00,000.
- If you’re reimbursing through RTGS, the reimbursement amount must be more than ₹2,00,000.
- NEFT and RTGS are available only for domestic transactions and may be subject to bank holidays and cut-off timings.
Warning: Once you reimburse online via HSBC, the reimbursement cannot be undone from Zoho Spend.
To reimburse employees via HSBC:
- Go to Reports under Travel & Expense on the left sidebar.
- Click the Awaiting Reimbursements tab to view the list of approved reports that need to be reimbursed.
- Select the report you want to reimburse via HSBC.
- Click the Reimburse dropdown in the top right corner and choose via HSBC.
- In the pop-up:
- Select the From Account (the HSBC bank account from which you want to reimburse).
- Choose the Transaction Type (NEFT or RTGS).
- Enter a note regarding the reimbursement, if required.
- Click Reimburse.
- When prompted, enter the Secret PIN you configured while setting up the integration.
- Click Reimburse or Initiate Payment to confirm.
The reimbursement will be initiated from Zoho Spend. You must authorise the payment in HSBCnet for it to be processed successfully.
Warning:
- You have 5 attempts to enter the correct Secret PIN.
- If you fail all 5 attempts, the HSBC integration will be marked as inactive.
- To continue using the integration, you must delete it and set it up again.
Once the payment is authorised and processed by HSBC, the report’s status in Zoho Spend will be updated to Reimbursed automatically. If the payment fails, you can contact support@zohospend.com for assistance.
Pay Employee Salary via HSBC
Initiate salary payments directly through HSBC once the integration is set up in Zoho Spend. Salary disbursements will be processed using the HSBC bank account configured during the integration setup.
To pay your employee salary:
- Go to Pay Runs under Payroll on the left sidebar.
- Generate a new pay run for the required pay period and approve it.
- Click Initiate Payment in the top right corner of the page.
- The Payment Status of the employees will be shown as Yet to Pay. Payments will be initiated only for employees whose payment mode is set to Direct Deposit.
- Enter the Secret PIN you configured while setting up the HSBC integration.
- Click Initiate Payment.
Warning:
- You have 5 attempts to enter the correct Secret PIN.
- If you fail all 5 attempts, the HSBC integration will be marked as inactive.
- To continue using the integration, you must delete it and set it up again.
Once the payment is initiated, you must authorise the payment in HSBCnet for it to be processed.
Note:
- The default payment mode for salary payments initiated through HSBC is NEFT.
- If payments are initiated outside bank working hours, the transactions will be processed on the next business day.
Add Vendors’ Bank Account
Once the admin has set up the HSBC integration, vendors can add their bank account details in the Vendor Portal to receive payments via HSBC.
Vendors can add their bank accounts when they sign up for the Vendor Portal or from their profile in the portal. Once the bank account is added and verified, payments for their bills will be credited to that account.
Pay Vendor Bills via HSBC
After enabling the HSBC integration and adding vendor bank accounts, admins or users with the necessary permissions can make payments for vendor bills directly from Zoho Spend via HSBC.
Note: Vendor bill payments via HSBC are supported only for domestic bank accounts within India. NEFT and RTGS are subject to bank working hours, holidays, and transaction limits configured by HSBC Bank.
To pay a vendor bill via HSBC:
- Go to Bills under Payables on the left sidebar.
- Select the bill for which you want to make the payment.
- Click Pay via HSBC at the top pane.
- Enter the following details:
| Fields | Description |
|---|---|
| Balance Due | The amount due for payment for the particular bill. |
| Amount | Enter the payment amount. You can make a complete or a partial payment towards the bill. |
| From Account | Select the HSBC bank account from which you want to initiate the payment. |
| To Account | Select the account to which you want to make the payment. |
| Transaction Type | Select the Transaction Type from the available fund transfer options: NEFT, RTGS, or XACH. Choose RTGS when the transaction amount exceeds ₹2,00,000 and NEFT when it is less than ₹2,00,000. XACH is available only for cross-border payments and will be selected as the default transaction type when paying vendors in a foreign currency. |
- Click Proceed.
- When prompted, enter the Secret PIN you configured while setting up the HSBC integration.
- Click Initiate Payment.
A payment will be initiated to your vendor, and the payment status in Zoho Spend will be marked as Uncleared until the payment is processed by HSBC.
Once the payment is successfully processed and authorised in HSBCnet (if required), the bill’s payment status will be updated accordingly in Zoho Spend.
If the payment fails, you can review the status in HSBCnet and contact support@zohospend.com for further assistance.
Multiple Bill Payments
You can initiate payments for multiple bills in two ways:
Pay multiple bills from same vendor
You can intiate bulk payments for multiple bills from the same vendor. To initiate:
- Go to Payments Made under Payables on the left sidebar.
- Click + New in the top right corner.
- Select a vendor and all their associated bills will be listed.
- Click Initiate Payment via HSBC.
- Enter the payment details and click Initiate Payment.
- In the pop-up that appears, enter your Secret PIN.
- Click Initiate Payment.
The payment will be initiated from Zoho Spend, and you will need to authorise it in HSBCnet.
Pay multiple bills from different vendors
You can initiate bulk payments for multiple bills of different vendors. To initiate:
- Go to Bills under Payables on the left sidebar.
- Select the bills from different vendors for which you want to initiate payment.
- Click Pay via HSBC at the top of the page.
- Enter the payment details and click Initiate Payment.
- In the pop-up that appears, enter your Secret PIN.
- Click Initiate Payment.
The payment will be initiated from Zoho Spend, and you will need to authorise it in HSBCnet.
Advance Vendor Payments
You can initiate advance payments to vendors directly. To initiate a vendor advance payment:
- Go to Payments Made under Payables on the left sidebar.
- Click + New in the top right corner.
- Select the Vendor Advance tab.
- Select the vendor to whom you want to initiate the advance payment.
- Select the Initiate payment via HSBC option.
- Enter the payment details and click Initiate Payment.
- In the pop-up that appears, enter your Secret PIN.
- Click Initiate Payment.
The payment will be initiated from Zoho Spend, and you will need to authorise it in HSBCnet.
Authorise Payment in HSBCnet
If you initiate a NEFT or RTGS payment from Zoho Spend, you must authorise the payment in HSBCnet using File Level Authorisation (FLA).
To authorise payments in HSBCnet:
- Log in to HSBCnet with your credentials.
- Go to the Menu and select Payments and transfers.
- Click File authorisation to view the files for the NEFT or RTGS payments initiated from Zoho Spend.
- Select the file that corresponds to the payment you initiated.
- Click Review files.
- Click Authorise file to authorise the payment.
(OR)
Click Reject file to reject the payment.
Once you authorise the payment, it may be sent for further approvals based on the authorisation structure configured in HSBCnet for your account. After the payment is completed, the corresponding report’s status in Zoho Spend will automatically be updated to Reimbursed.
If the payment fails, you can review the status in HSBCnet and reach out to support@zohospend.com.
Disable the Integration
If you want to stop making payments through your HSBC corporate account or you want to update your HSBC credentials, you can disable the integration. Here’s how:
- Go to Settings on the left sidebar.
(OR)
Click Settings in the top right corner of the page. - Click Online Payments under Payments.
- Click HSBC.
- Click Disable.
- Confirm your action by clicking Disable again in the pop-up.
The integration will be disabled. You can choose to set it up again later if required by re-entering your HSBC integration credentials and Secret PIN.