 I.
Outward Remittance
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Our
Services
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| 1. |
What channels can
I use for remitting money to overseas countries? |
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You can submit your remittance applications
to our branches or make use of our Business
e-Banking or Hang Seng HSBCnet which will save you more transaction
costs.
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| 2. |
What currencies and
where can I remit funds to? |
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You can remit money to over 160 countries
in following currencies:
HKD, USD, CAD, GBP, EUR, THB, AUD, CHF, DKK, JPY, NOK, NZD, SEK,
SGD, ZAR, or other currencies that our Bank may add or delete from time
to time.
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| 3. |
How much can I remit
on a daily basis? |
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There is a limit specifically set for remittance via Business e-Banking. The limit is governed by the User Daily Limit(s)
of the user as well as the Portfolio Daily Limit(s)
you
pre-set
for "Fund Transfer to
other Accounts" when you
apply for the service. Both limits
can be viewed by
Primary User(s)or, where applicable, the Secondary User(s) with the
management control functions access right, under the
Management Control in Business e-Banking.
In general, the transaction limit for remittance via Hang Seng HSBCnet is governed by the User Daily Authorisation Limit pre-set by the relevant
User under "Priority Payment Authority Details". The limit can be viewed by Primary User(s) or the Secondary User(s) (where applicable) with the
access right under the User Management Tool in Hang Seng HSBCnet.
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| 4. |
Can I place a Standing
Instruction to remit funds at regular time? Is
there any charge for setting up a Standing Instruction? |
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Yes, you can apply through our branches to place
a Standing Instruction to remit a designated
amount of money regularly (e.g. monthly, or
quarterly) to a designated beneficiary by debiting
a designated account maintained with our Bank.
Set up fee for each Standing Instruction is
HKD100. Remittance charges per executed
transaction are the same as normal application
submitted to branches.
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Timing
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| 5. |
What is the cut-off
time for same-day processing
of outward remittance? |
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All applications submitted to our branch(es) within
the office hours will be
processed on the same day,
except that:
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Cut-off time
for HKD remittance to all countries
is 4:00pm on Mondays to Fridays.
HKD remittance applications
received after 4:00pm on Mondays
to Fridays will be processed
either on the same day or on
the following business day
at our Bank's discretion; |
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HKD remittance applications
to all countries received on
Saturdays will be processed
on the following business day
after implementation of the
5-Day Clearing Week; and |
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Cut-off time for CNY remittance*
to Mainland China is 2:00pm
on Mondays to Fridays, and
CNY remittance applications
received after the 2:00pm on
Mondays to Fridays will be
processed either on the same
day or on the following business
day at the Bank's
discretion. CNY remittance
applications received on Saturdays
or holidays in Mainland China
will not be processed until
the following business day
in Hong Kong and Mainland China. |
*Remark: CNY remittance service is only available to personal customers.
For Business e-Banking users, cut-off time for remittance applications is 4:55pm on Mondays to Fridays. Applications received after cut-off time will be processed in the following business day. System will prompt out message to advise customers on the status.
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| 6. |
Can I submit outward
remittance request to your branch(es) on Saturdays after implementation
of the 5-Day Clearing Week in Hong Kong? |
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Customer can submit outward remittance request
to our branch(es) on Saturdays, and all applications
submitted within the office hours will be processed
on the same day except that:
| (i) |
HKD remittance application
to all countries received on Saturdays
will be processed on the following business
day; and |
| (ii) |
CNY remittance* request to Mainland China
made on Saturdays will be processed on
the following business day of both Hong
Kong and Mainland China. |
*Remark: CNY remittance service is only available to personal customers.
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| 7. |
When will the funds
be debited from my account after I placed a
remittance instruction? |
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The funds will be debited from the account prescribed
by you on the processing
day of the application which will be the same
day or the following business day after you
have submitted your application. (For details, please
refer to Q5 above).
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| 8. |
When will beneficiaries
receive the money if we make a remittance to
an overseas account today? |
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The time when the beneficiary receives the
funds will depend on the processing
time of the intermediary bank(s)/ beneficiary
bank or its branches. Normally, it takes 1
to 4 business day(s) for beneficiaries to receive
the funds.
However, it may take longer time for payment to countries where exchange
control is in place, or where it is the
receiving bank's requirement to release funds upon
contact with the beneficiary, or if the payment has
to go through a number of banks and branches.
To ensure that the remittance can be processed accurately and efficiently
throughout the payment chain, please provide correct SWIFT Bank
Identifier Code / domestic clearing number of the relevant beneficiary
bank branch / IBAN if applicable. (For details, please refer
to Q18-22)
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| 9. |
What if the outward
remittance is being sent on the holiday of the
country of beneficiary while Hong Kong is a business
day? |
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Our Bank will send out the payment instruction
to the beneficiary bank as usual except for CNY
remittance* to Mainland China of which payment
will not be sent out until the following business
day of both Hong Kong and Mainland China.
*Remark: CNY remittance service is only available to personal customers.
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Charges
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| 10. |
What is the
bank charge for an outward remittance?
| Remit to |
Currency |
Charge (per transaction)
(including "Handling charge" & "Cable charge") |
Via Branch |
Via Business
e-Banking /
Hang Seng HSBCnet |
| Hong Kong / China / Taiwan / Macau |
Any |
HKD150 |
HKD100 |
| Other Countries |
HKD / Local currency |
HKD150 |
| Non-Local currency |
HKD260 |
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Remarks:
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An additional HKD100 per
instruction shall be charged if remittance
instruction contains Chinese characters
(exempted for HKD remittance to Macau). |
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Overseas bank charge is not included. |
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Prestige account customers can enjoy
"Handling charge" waiver
(except for "Cable
charge" and "Overseas
bank charge"). Such waiver is not applicable
to e-Banking transactions. |
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Prestige account customers will enjoy
a discounted bank charge of HKD100 per
transaction for remitting USD/ HKD via
Branch to same currency accounts maintained
with Hang Seng Bank (China) Limited in
Mainland China. |
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| 11. |
Will there be any
additional charge if the remittance instruction
contains Chinese characters? |
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Yes, an additional HKD100 will be charged
(exempted for HKD remittance to Macau).
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| 12. |
How much will the
beneficiary bank and correspondent
bank charge for the remittance? |
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Each bank has its own tariff and the pricing
is subject to change. Customer can enquire
with our staff when necessary.
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| 13. |
How much is the handling
charge for amendment / cancellation of an outward
remittance? |
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If the remittance instruction has not been
sent out, there is no charge. Otherwise, HKD200
(handling charge) plus HKD100 (cable fee)
and overseas bank charge (if applicable) will be charged.
You can download and fill in the "Application for Amendment / Cancellation / Refund of Remittance" and submit it to any of our branches.
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Mainland China Remittance
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A.
CNY Remittance to Mainland China
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| 14. |
Can commercial customer remit CNY to China? |
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No, currently only an individual (not commercial
customer) can remit CNY through his/her personal
CNY account maintained with our Bank to his/her personal CNY account in
the same name in Mainland China.
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B.
Charges
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| 15. |
How much is the bank
charge for outward remittance to Mainland China? |
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For CNY remittance, service is currently only
available to personal
customers.
For remittance of other currencies, the bank charge is:
| Service channel |
Via Branch |
Via Business e-Banking/ Hang Seng HSBCnet |
Charges (per transaction)
(including "Handling charge" & "Cable charge") |
HKD150 |
HKD100 |
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Remarks:
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An additional HKD100 per instruction
shall be charged if remittance instruction
contains Chinese characters (exempted for
HKD remittance to Macau) |
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Overseas bank charge is not included. |
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"Handling charge" is waived for
Prestige account customers ("Cable charge"
and "Overseas
bank charge" are not included in such waiver).
Such waiver is not applicable to e-Banking
transactions. |
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Prestige account customers will enjoy a
discounted bank charge of HKD100 per transaction
for remitting USD/ HKD via Branch to same
currency accounts maintained with Hang Seng
Bank (China) Limited in Mainland China. |
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C.
Same Day Credit to Hang Seng (China) Account
Services - applicable to USD & HKD
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| 16. |
What is "Same
Day Credit to Hang Seng (China) Account Services"? |
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We offer more flexible cut-off time for remittance
of USD/ HKD to the same currency accounts maintained
with Hang Seng Bank (China) Limited ("Hang
Seng (China)") such that: customers
who submit such remittance applications to our
branch(es) in Hong Kong before the cut-off time at
4:00pm on Mondays to Fridays (excluding Mainland
China public holidays) will also
enjoy the same-day credit of funds to the accounts maintained with
Hang Seng (China) Limited.
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| 17. |
How much is the bank
charge for remitting USD/ HKD to same currency
accounts maintained with Hang Seng Bank (China)
Limited? |
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Please refer to Q.15.
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Other Countries Remittance
A. General - SWIFT BIC
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| 18. |
What is a SWIFT BIC? |
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SWIFT refers to Society For Worldwide Interbank
Financial Telecommunication. SWIFT BIC is a Bank
Identifier Code (8 or 11 alphanumeric characters)
used in the interbank telecommunication to ensure
remittance message can reach the correct receiving
bank. For example, HASEHKHHXXX represents
Hang Seng Bank Limited, Hong Kong while
HASECNSHHSH represents Hang Seng Bank (China)
Limited, Shanghai Branch.
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B.
USA
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| 19. |
What is a Fed wire
No. / ABA No. for remittance to USA? |
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Fed wire No. / ABA No. is an identifier (clearing
number) of a domestic bank in USA.
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C.
Europe
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| 20. |
What is an IBAN Number
for EUR remittance to Europe? |
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IBAN stands for International Bank Account
Number. Some of the European Banks only accept
IBAN number for remittance processing. The first two
letters represent country code, followed by check digits, identifier
codes of account holding bank / branch and customer account number.
The maximum length is 34 digits.
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| 21. |
Should I provide
the IBAN number for EUR remittance to Europe?
Where can I get such number? |
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From Jan 2007, you must provide
the beneficiary bank's SWIFT
BIC and the beneficiary's account
number in International Bank Account Number
(IBAN) format for all EUR remittances to
European Union (EU) and European Economic Area
(EAA). The beneficiary can obtain the correct
IBAN number from the bank at which their account
is held.
Please note if this information is not given or is incomplete or incorrect,
the remittance may be rejected, returned, delayed or subject to an additional
charge imposed by the beneficiary bank/intermediary bank. The Bank accepts no responsibility
for any loss or damages caused by such rejection, return, delay or additional
charge. Any additional charge by overseas bank shall be debited from the
funds remitted or any of your account(s) maintained with our Bank.
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Enquiry
on Transactions
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| 22. |
What can I do if
I find the funds have not reached the beneficiaries
within a reasonable time? Can I request for an
investigation? |
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You may call our Remittance Hotline
(Tel: 2123 1088) or approach our branches and provide the remittance
details as below:
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Remitter Details - Remitter
full name and account number |
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Beneficiary Details - Beneficiary
full name and account number |
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Transaction Details - Transaction
date, Remittance number and amount |
Our Bank's charge for each cable inquiry is HKD100 plus overseas bank charge
(minimum HKD200 per enquiry).
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II.
Inward Remittance
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Our
Services
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| 23. |
Can I get notification when the fund is successfully
remitted to our accounts? |
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A hardcopy advice will be printed
on the following day of the remittance to your
account and then mailed to customer.
For Business e-Banking customers, they will receive an Inward Remittance
e-Advice when the fund is successfully remitted to their accounts. The
advice(s) will be kept for 30 days from the advice(s) delivery date. After
that, the advice(s) will be deleted automatically. Moreover, they can also set up e-Alert which
is a default free service. The e-Alert will notify you of an inward payment of any amount or a
specified amount credited to your company account. Please note that the credit amount is the net
amount after deduction of charges, if any.
For Hang Seng HSBCnet customers, they will get an Inward Remittance Advice under "Balance and
Transaction Reporting" when the remitted fund is successfully credited to their accounts.
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| 24. |
Can inward remittance be made in CNY? |
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No, unless it is a return of the previously
remitted RMB from your personal account to
the same personal account. No
remittance transactions are allowed to/ from business accounts
under current RMB remittances regulations. |
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Timing
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| 25. |
When can the inward remitted funds be credited
to our accounts? |
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Under normal circumstances, funds will be
credited to customer account on the same day
if remittance instruction from remitting bank
is received before cut-off time on a business
day (i.e. 4:30pm on Mondays to Fridays; 11:30am
on Saturdays; public holidays excepted)
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Charges
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| 26. |
What is the bank charge for inward
remittance? |
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HKD50 per transaction is charged for funds
remitted directly from an overseas bank. This
bank charge is waived for Prestige account customers.
For overseas remittance to Hang Seng Bank Limited through other local bank(s)
via CHATS payment, the charge will be HKD10/ USD1.20/ EUR1.00 per transaction
depending on the currency of the remitted funds.
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Others
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| 27. |
What information should I provide
to my remittance counterpart? |
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General information:
You should provide to the remitter your account information including account
holder's name, bank's name e.g. Hang Seng Bank
Limited and account number as well as Hang Seng Bank Limited's
SWIFT code, which is HASEHKHH.
From USA:
For remittance from USA, you should also provide our CHIPS No. 010522 in addition
to your account information and Hang Seng Bank Limited's SWIFT
code.
Or, you can simply download the following template and email/ fax to your business
counterparts: http://www.hangseng.com/e_business/cash_management/irtt.pdf
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| 28. |
My business
partner / friends or relatives would like to know the SWIFT code /
Fed Wire
Number of Hang Seng Bank Limited's
correspondent banks in US?
The SWIFT Code and Fed Wire Number of our correspondent
banks in US are:
| Correspondent bank |
SWIFT Code |
Fed Wire Number |
| Bank of America, San Francisco |
BOFA US6S |
FW 121000358 |
| Bank of New York, New York |
IRVT US3N |
FW021000018 |
| Citibank NA, New York |
CITI US33 |
FW 021000089 |
| Deutsche Bank Trust Co |
BKTR US33 |
FW021001033 |
| HSBC Bank USA, New York |
MRMD US33 |
FW 021001088 |
| JPMorgan Chase Bank NA |
CHAS US33 |
FW 021000021 |
| Wells Fargo Bank, San Francisco |
WFBI US6S |
FW121000248 |
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| 29. |
My business
partner / friends or relatives would like to remit funds to us and
would like
to know Hang Seng Bank Limited's
correspondent banks in overseas and their SWIFT
addresses?
Below are our overseas correspondent banks'
details:
| Country |
Correspondent Bank(s) |
SWIFT Address Code |
| Australia |
Commonwealth Bank of Australia, Sydney
ANZ Bank Ltd, Melbourne |
CTBA AU2S
ANZB AU3M |
| Belgium |
Fortis Bank NV/SA, Brussels |
GEBA BEBB |
| Britain |
HSBC Bank Plc, London |
MIDL GB22 |
| Canada |
Canadian Imperial Bank of Commerce, Toronto
Royal Bank of Canada, Toronto |
CIBC CATT
ROYC CAT2 |
| Denmark |
Danske Bank A/S, Copenhagen |
DABA DKKK |
| France |
Credit Agricole SA, Paris |
AGRI FRPP |
| Germany |
Commerzbank AG, Frankfurt |
COBA DEFF |
| Holland |
ABN Amro Bank NV, Amsterdam |
ABNA NL2A |
| Japan |
Bank of Tokyo-Mitsubishi UFJ Ltd, Tokyo
Sumitomo Mitsui Banking Corporation, Tokyo |
BOTK JPJT
SMBC JPJT |
| New Zealand |
Bank of New Zealand, Wellington |
BKNZ NZ22 |
| Norway |
DNB NOR Bank ASA, Oslo |
DNBA NOKK |
| Singapore |
Hongkong and Shanghai Bkg Corp Ltd, Singapore |
HSBC SGSG |
| Spain |
Banco Espanol de Credito Sa, Madrid |
ESPC ESMM |
| Sweden |
Svenska Handelsbanken AB, Stockholm |
HAND SESS |
| Thailand |
Hongkong and Shanghai Bkg Corp Ltd, Bangkok |
HSBC THBK |
| US |
Please refer to Q. 28 for details |
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Enquiry on Transactions
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| 30. |
What if there is a problem
with our inward remittance?
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It is vital to provide complete and accurate
account information to the remitter. Otherwise,
the remittance may be delayed or rejected. If
our Bank is able to identify that you are the
beneficiary of a remittance with incorrect beneficiary
details such as account number and name, our
Bank may request you to inform the remitter to
make an amendment via the remitting bank. You
can call our Remittance Hotline (Tel:
2123 1088) to check the status of your remittance.
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