Hong Kong SAR
Overview
| Transfer method | Local | Local | Local | SWIFT |
|---|---|---|---|---|
| Local clearing system | ACH | FPS (The default LOCAL payout option when local_clearing_system is not specified) | RTGS | |
| Supported currency(ies) | HKD, CNY | HKD, CNY | HKD, CNY, USD | AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, USD, ZAR |
| Payment scheme | ACH | FPS | CHATS | |
| Flight time (business days) | 1-2 | 0-1 | 0-1 | 0-3 |
| Maximum transaction limit | No limit | 10,000,000 HKD | No limit | No limit |
| Ultimate payer displayed | Yes | Yes |
Please refer to the sections below for the key required bank details and other considerations for each supported transfer method.
Local ACH payout
| Required fields | Permitted Data | Notes |
|---|---|---|
account_currency | 3-letter ISO 4217 currency code | One of HKD, CNY |
account_name | 2-200 characters | Account holder name of the recipient’s bank account |
account_number | 8-17 digits | The first 3 digits are usually a valid branch code from the bank selected |
account_routing_type1 | bank_code only | 3-digit number to identify a bank in Hong Kong |
account_routing_value1 | 3 digits | |
bank_country_code | 2-letter ISO 3166-2 country code | Should be HK |
Local FPS payout
| Required fields | Permitted Data | Notes |
|---|---|---|
account_currency | 3-letter ISO 4217 currency code | One of HKD, CNY |
account_name | 2-200 characters | Account holder name of the recipient’s bank account |
account_routing_type1 | One of bank_code, phone_number, email_address, fps_identifier, or personal_id_number | See table below for definitions of each routing type |
account_routing_value1 | Definition depends on account_routing_type1; see in the table below | |
account_number | 8-17 digits | Only required when account_routing_type1 is bank_code. The first 3 digits are usually a valid branch code from the bank selected |
bank_country_code | 2-letter ISO 3166-2 country code | Should be HK |
FPS payouts to Proxy IDs
When paying HKD or CNY locally via FPS (the Faster Payment System), you can now pay to FPS Proxy IDs in addition to bank code and account number. You can specify various types of Proxy IDs with the account_routing_type1 parameter under the beneficiary.bank_details object.
See below the supported values for account_routing_type1 and respective definitions for the account_routing_value1 parameter.
| Account routing type 1 | Account routing value 1 | Note |
|---|---|---|
bank_code | A 3-digit number to identify a bank in Hong Kong | beneficiary.bank_details.account_number is also required. Note that the first 3 digits are usually a valid branch code from the bank selected |
phone_number | A phone number in the format of +aaa-nnnnnnnn as registered with the bank account where: - aaa is an international country calling code up to 3 digits; and - nnnnnnnn is a local phone number up to 14 digits. E.g. +852-12345678 | Account number is not required when paying to an FPS Proxy ID |
email_address | A valid email address as registered with the bank account | Account number is not required when paying to an FPS Proxy ID |
fps_identifier | An FPS ID (7-9 digits) as registered with the bank account | Account number is not required when paying to an FPS Proxy ID |
personal_id_number | An HKID number in the format of Xnnnnnn(A) where: - X is 1 or 2 alphabetic letters; - nnnnnn is a 6-digit number; - A is a check digit which can be the number 0-9 or the letter A; and The parentheses () are optional | Account number is not required when paying to an FPS Proxy ID; this is available only when the beneficiary's entity_type is PERSONAL |
Local RTGS payout
| Required fields | Permitted Data | Notes |
|---|---|---|
account_currency | 3-letter ISO 4217 currency code | One of HKD, CNY, USD |
account_name | 2-200 characters | Account holder name of the recipient’s bank account |
account_number | 8-17 digits | The first 3 digits are usually a valid branch code from the bank selected |
swift_code | 8-11 alphanumeric characters | Should be a valid and supported BIC-8 or BIC-11 code |
bank_country_code | 2-letter ISO 3166-2 country code | Should be HK |
SWIFT payout
| Required fields | Permitted Data | Notes |
|---|---|---|
account_currency | 3-letter ISO 4217 currency code | One of AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, USD, ZAR |
account_name | 2-200 characters | Account holder name of the recipient’s bank account |
account_number | 8-17 digits | The first 3 digits are usually a valid branch code from the bank selected |
swift_code | 8-11 alphanumeric characters | Should be a valid and supported BIC-8 or BIC-11 code |
bank_country_code | 2-letter ISO 3166-2 country code | Should be HK |
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