 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 Hang Seng Personal e-Banking which will save you more on transaction costs.
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| 2. |
What currencies are available and where can I remit funds to? |
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You can remit money to over 160 countries in the following currencies:
HKD, USD, CAD, GBP, EUR, THB, AUD, CHF, DKK, JPY, NOK, NZD, SEK, SGD, ZAR, CNY (For Renminbi outward remittances, please refer to Q14-17.) and other currencies that the 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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| Application submitted via |
Daily Limit |
| Hang Seng Branches |
No specific limit as long as sufficient funds and authorised signature is available |
| Hang Seng Personal e-Banking |
The daily maximum fund transfer limit is HKD1 million^ [or its foreign currency equivalent ] to be shared by fund transfers to registered third-party Hang Seng Accounts, remittances and fund transfers to other Hong Kong registered bank accounts through CHATS.
Pre-registration of designated beneficiary accounts is required by submitting the form via branch or by mail. The form can be obtained via personal e-banking or visit our branches.
^Currently an individual can only remit RMB through his/her personal RMB account maintained with us to his/her personal RMB account in the same name in mainland China. The daily limit for such remittances is RMB80,000 per person. (For RMB outward remittances, please refer to Q14-17.) |
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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 Hang Seng Bank. The set-up fee for each Standing Instruction is HKD100. Remittance charges per executed transaction are the same as those on normal applications submitted at 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 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 the 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 RMB remittance* to mainland China is 2:00pm on Mondays to Fridays. RMB remittance applications received after 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. RMB 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: RMB remittance service is only available to personal customers.
For Hang Seng Personal e-Banking customers, prior registration of Designated Telegraphic Transfer Beneficiaries is required and cut-off time for remittance application is 3:55 pm on Mondays to Fridays, for RMB remittance the cut-off time is 1:30pm from Mondays to Fridays. Applications received after the cut-off time will be processed on the following business day.
The system will issue a message to advise customers of the status.
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| 6. |
Can I submit an outward remittance request to your branch(es) on Saturdays after the implementation of the 5-Day Clearing Week in Hong Kong? |
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Customers can submit outward remittance requests to our branch(es) on Saturdays. All applications submitted within office hours will be processed on the same day except that:
| (i) |
HKD remittance application to any country received on a Saturday will be processed on the following business day; and |
| (ii) |
RMB remittance* request to mainland China made on a Saturday will be processed on the following business day in both Hong Kong and mainland China. |
*Remark: RMB remittance service is only available to personal customers.
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| 7. |
When will the funds be debited from my account after I place 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 one to four 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 beneficiary 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 sent on a holiday in the beneficiary’s country while in Hong Kong it is a business day? |
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Under normal circumstances, we will send out the payment instruction to the beneficiary bank as usual except for RMB remittances* to mainland China in which cases payment will not be sent until the following business day of both Hong Kong and mainland China.
*Remark: RMB 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 Hang Seng
Personal e-Banking |
| Hong Kong / Mainland China / Taiwan / Macau |
Any |
HKD150 |
HKD100 |
| Other Countries |
HKD / Domicile currency |
HKD150 |
| Non-Domicile 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 remittances to Macau). |
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Foreign as bank charge is not included. |
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Prestige Banking customers can enjoy "Handling charge" waiver (except for "Cable charge" and "Foreign bank charge"). Such waiver is not applicable to e-Banking transactions. Please refer to our tariff.
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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 remittances to Macau). Input of Chinese character is not applicable to application submitted via Hang Seng Personal e-banking.
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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 from time to time. Customer can enquire with Bank 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, no handling or cable charge will be payable; otherwise, HKD200 (handling charge) plus HKD100 cable charge (if applicable) and foreign bank charge (if applicable) will be payable.
Losses relating to changes in exchange rates may be incurred for instruction reversal of remittances involving foreign exchange.
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Mainland China Remittance
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A. RMB Remittance to Mainland China
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| 14. |
Can I remit Reminbi to Mainland China? |
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Yes, currently only an individual (not commercial customer) can remit RMB through his/her personal RMB account maintained with Hang Seng Bank to his/her personal RMB account in the same name in mainland China. The daily limit for such remittances is RMB80,000 per person, in accordance with current RMB Remittance Regulations.
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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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| Service channel |
Via Branch |
Via Hang Seng Personal e-Banking |
Charges (per transaction)
(includes Handling charge & Cable charge)
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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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Foreign bank charge is not included. |
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Prestige Banking customers can enjoy "Handling charge" waiver (except for "Cable charge" and "Foreign bank charge"). Such waiver is not applicable to e-Banking transactions. Please refer to our tariff. |
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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) Accounts Service"? |
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We offer a more flexible cut-off time for USD/ HKD remittances to same currency accounts maintained with Hang Seng Bank (China) Limited ("Hang Seng (China)") such that customers who submit such remittance applications to any of our branch(es) in Hong Kong before the cut-off time of 4:00pm on Mondays to Fridays (excluding mainland China public holidays) will enjoy same-day credit of funds to accounts maintained with Hang Seng (China).
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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)? |
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Please refer to Q.15.
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Remittance to Other Countries
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 beneficiary 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 the USA? |
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Fed wire No. / ABA No. is an identifier (clearing number) of a domestic bank in the 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 European Banks only accept IBAN numbers 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 January 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 foreign bank shall be debited from the funds remitted or any of your account(s) maintained with Hang Seng Bank.
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Transaction Enquiries
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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 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 |
The Bank’s charge for each cable inquiry is HKD100 (if applicable) plus foreign bank charge (if applicable) (minimum HKD200 as handling fee per enquiry).
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II.
Inward Remittance
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Our
Services
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| 1. |
Can I receive notification when funds are successfully remitted to my account? |
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A hardcopy advice will be printed on the next business day after the remittance reaches your account and will be mailed to you.
For Hang Seng Personal e-Banking customers, you will receive an Inward Remittance e-Advice when funds are successfully remitted to your accounts. The advice(s) will be kept for 90 days from the advice(s) delivery date. After that, the advice(s) will be automatically deleted.
Moreover, you can also set up e-Alert Service which will notify you of an inward payment of any amount or a specified amount credited to your registered account. Please note that the credit amount is the net amount after deduction of charges, if any.
Customers must register for the e-Alert Service via Personal e-Banking. The e-mail e-Alert service is free of charge, but the SMS e-Alert service is chargeable. Logon Hang Seng Personal e-Banking for details of e-Alert Service Plan and Charges.
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| 2. |
Can inward remittance be made in RMB? |
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Due to exchange control, inward RMB remittance will happen if a personal customer has previously sent a remittance to his account in mainland China from his RMB account in Hong Kong. In such cases, the customer will be allowed to send back an RMB amount not exceeding the original remittance amount to his RMB account in Hong Kong with prior approval from the relevant Authorities in China. |
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Timing
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| 3. |
When will inwardly remitted funds be credited to my account? |
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Under normal circumstances, funds will be credited to a customer’s account on the same day if the remittance instruction from the remitting bank is received before the cut-off time on a business day (i.e. 4:30pm on Mondays to Fridays; 11:30am on Saturdays; excludes public holidays)
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Charges
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| 4. |
What is the bank charge for inward remittance? |
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HKD50 per transaction is charged for funds remitted directly from a foreign bank. This bank charge is waived for Prestige Banking customers.
For overseas remittance to Hang Seng Bank 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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| 5. |
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’s SWIFT code, which is HASEHKHH.
Outward Remittance from the USA:
For remittance from the USA, you should also provide our CHIPS No. 010522 in addition to your account information and Hang Seng Bank’s SWIFT code.
Or, you can simply download the following template and e-mail/ fax to the beneficiary:
http://www.hangseng.com/c_deposit/com/pdf/irtt_template_pfs.pdf
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| 6. |
My business partner / friends or relatives would like to know the SWIFT code / Fed Wire Number of Hang Seng Bank's correspondent banks in the USA.
The SWIFT Code and Fed Wire Number of our correspondent banks in the USA 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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| 7. |
My business partner / friends or relatives would like to remit funds to me and would like to know Hang Seng Bank Limited's overseas correspondent banks and their SWIFT addresses.
Below are the details of our overseas correspondent banks:
| 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. 6 for details |
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Transaction Enquiries
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| 8. |
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 Hang Seng Bank is able to identify that you are the beneficiary of a remittance with incorrect beneficiary details such as account number and name, we may ask you to inform the remitter to make an amendment via the correspondent bank. You can call our Remittance Hotline (Tel: 2123 1088) to check the status of your remittance.
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