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 in the table below for definitions
`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`

Coming soon in November 2024 - FPS Proxy ID payouts

When paying HKD or CNY locally via FPS (the Faster Payment System), instead of providing a set of local bank account details for the beneficiary, you can also pay to FPS Proxy IDs registered with local banks. Different types of these account identifiers can be selected by specifying the account_routing_type1 parameter.

See the table below for the supported value options of account_routing_type1, along with their respective information requirement for the account_routing_value1 parameter.

Account routing type 1 value	Account routing value 1 definition	Note
`bank_code` (default value when `account_routing_type1` is not specified)	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-nnnnnnnnn` as registered with the bank account where: `aaa` is an international country calling code up to 3 digits; and `nnnnnnn` 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 a 7-digit numerical ID as registered with the bank account	Account number is not required when paying to an FPS Proxy ID
`personal_id_number`	This should be in the format of `Xnnnnnn(A)` account where: `X` stands for 1 or 2 alphabetic letters; `nnnnnn` represents a 6-digit number; `A` stands for a check digit which can be number 0-9 or the letter A; and the parentheses `()` are optional	Account number is not required when paying to an FPS Proxy ID

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