 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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Remittance applications^ submitted before cut-off
time will be processed on the same day*
| Channel |
Monday to
Friday |
Saturday |
| Branch |
Renminbi (CNY): 2:00pm^
Hong Kong Dollar (HKD): 4:00pm†
Other currency: Within branch office hours |
Within branch office hours
Except Hong Kong Dollar (HKD) & Renminbi
(CNY)# |
Hang Seng Personal
e-Banking |
Renminbi (CNY): 1:30pm^
Other currencies: 5:00pm |
12:00 noon
Except Hong Kong Dollar (HKD) & Renminbi
(CNY)# |
*Remarks:
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| |
^ |
Renminbi (CNY) remittance service is only available
to personal customers. Cut-off time for Renminbi (CNY)
remittance to mainland China is 2:00pm on Mondays to
Fridays and remittance applications will be processed
either on the same day or on the following business day
at the Bank’s discretion. Renminbi (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
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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 application to all countries
received on Saturdays will be processed on the
following business day. If the Outward Telegraphic
Transfer (ORTT) involves interbank settlement through
the Clearing House Automated Transfer System (CHATS)
and has a transfer date that falls on a Saturday, it
will be processed on the next clearing day.
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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
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| (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.
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*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")
|
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Via
Branches
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Via
Hang Seng
Personal e-Banking
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| A beneficiary account
with Hang Seng in Mainland China/ Macau |
Any |
HKD170 |
HKD80 |
| A
beneficiary account with another bank in Hong Kong/
Mainland China/ Taiwan/ Macau |
Any |
HKD200 |
HKD100 |
| Other
Countries |
HKD/Local Currency |
HKD200 |
| 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 remittances to Macau).
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Foreign as bank charge is not included.
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Please refer to the Banking Services Fees & Charges table
regarding privileges for the Integrated Account of Prestige Banking. |
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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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| Remit to a beneficiary account with |
Currency |
Charge
(Per transaction)
(including "Handling charge" &
"Cable Charge")
|
|
Via
Branches
|
Via
Hang Seng
Personal e-Banking
|
| Hang Seng Bank in Mainland China/
Macau |
Any |
HKD170 |
HKD80 |
| another banks in Hong Kong/ Mainland
China/ Taiwan/ Macau |
Any |
HKD200 |
HKD100 |
|
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Remarks:
|
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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Please refer to the Banking Services Fees & Charges table
regarding privileges for the Integrated Account of Prestige Banking. |
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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
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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? |
| |
HKD60 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
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Bank of New York, New York
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IRVT US3N
|
FW021000018
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Citibank NA, New York
|
CITI US33
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FW 021000089
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Deutsche Bank Trust Co
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BKTR US33
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FW021001033
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HSBC Bank USA, New York
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MRMD US33
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FW 021001088
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JPMorgan Chase Bank NA
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CHAS US33
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FW 021000021
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Wells Fargo Bank, San Francisco
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WFBI US6S
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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
|
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Belgium
|
Fortis Bank NV/SA, Brussels
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GEBA BEBB
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Britain
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HSBC Bank Plc, London
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MIDL GB22
|
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Canada
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Canadian Imperial Bank of Commerce, Toronto
Royal Bank of Canada, Toronto
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CIBC CATT
ROYC CAT2
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Denmark
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Danske Bank A/S, Copenhagen
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DABA DKKK
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France
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Credit Agricole SA, Paris
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AGRI FRPP
|
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Germany
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Commerzbank AG, Frankfurt
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COBA DEFF
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Holland
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ABN Amro Bank NV, Amsterdam
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ABNA NL2A
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Japan
|
Bank of Tokyo-Mitsubishi UFJ Ltd, Tokyo
Sumitomo Mitsui Banking Corporation, Tokyo
|
BOTK JPJT
SMBC JPJT
|
|
New Zealand
|
Bank of New Zealand, Wellington
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BKNZ NZ22
|
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Norway
|
DNB NOR Bank ASA, Oslo
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DNBA NOKK
|
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Singapore
|
Hongkong and Shanghai Bkg Corp Ltd, Singapore
|
HSBC SGSG
|
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Spain
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Banco Espanol de Credito Sa, Madrid
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ESPC ESMM
|
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Sweden
|
Svenska Handelsbanken AB, Stockholm
|
HAND SESS
|
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Thailand
|
Hongkong and Shanghai Bkg Corp Ltd, Bangkok
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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? |
| |
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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