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 should be a valid and supported 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 should be a valid and supported branch code from the bank selected
`bank_country_code`	2-letter ISO 3166-2 country code	Should be `HK`

FPS payouts to Proxy IDs (Beta)

FPS payouts to Proxy IDs is currently in Beta. Please contact your Account Manager for details.

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 of the account number should be a valid and supported 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`	A 7-digit FPS ID 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 should be a valid and supported 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