Remittance FAQ

Frequently Asked Questions on Remittance Services

Outward Remittance

Our Services

1.What channels can I use for remitting money to overseas countries/territories?
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.

2.What currencies are available and where can I remit funds to?
You can remit money to over 160 countries/territories 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.

3.How much can I remit on a daily basis?

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, and Hong Kong Identity Card holder can only remit RMB to his/her personal RMB account in the same name in mainland China. Hong Kong Identity Card holder is subject to the daily limit for such remittances is RMB80,000 per person. (For RMB outward remittances, please refer to Q14-17.)

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, and Hong Kong Identity Card holder can only remit RMB to his/her personal RMB account in the same name in mainland China. Hong Kong Identity Card holder is subject to the daily limit for such remittances is RMB80,000 per person. (For RMB outward remittances, please refer to Q14-17.)

4.Can I place a Standing Instruction to remit funds at regular time? Is there any charge for setting up a Standing Instruction?
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.

- Timing
5.What is the cut-off time for same-day processing of outward remittance?
Different remit currency is subject to different same-day processing cut-off time. For details, please refer to Part I of Outward Remittance & CHATS Services Cut-off Timetable.

6.What is the cut-off time via branch for same-day value of outward remittance?
Different remit currency is subject to different same-day value cut-off time. For details, please refer to Part II-2 of Outward Remittance & CHATS Services Cut-off Timetable..

7.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?
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/territory received on a Saturday will be processed on the following business day; and
(ii) CNY remittance application submitted to our branch(es) on Saturdays will be processed on that day or on the following business day of both Hong Kong and China subject to the operation and practice adopted by the RMB clearing bank / Mainland correspondent bank. It will not be processed by the RMB clearing bank during holidays in China (e.g. Labour Day, National Day).

8.When will the funds be debited from my account after I place a remittance instruction?
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 Outward Remittance & CHATS Services Cut-off Timetable.

9.When will beneficiaries receive the money if we make a remittance to an overseas account today?
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/territories 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)

10.What if the outward remittance is sent on a holiday in the beneficiary’s country/territory while in Hong Kong it is a business day?
Our Bank will send out the payment instruction to the beneficiary bank as usual except CNY remittance which is subject to the operation and practice adopted by the RMB clearing bank / Mainland correspondent bank. It will not be processed by the RMB clearing bank during holidays in China (e.g. Labour Day, National Day).The payment will not be sent out until the following business day of both Hong Kong and Mainland China.

Charges

11.What is the bank charge for an outward remittance?

Remit to	Currency	Charge (Per transaction)(including "Handling charge" & "Cable Charge")
Remit to	Currency	Via Branches^@	Via Hang Seng Personal e-Banking
A beneficiary account with Hang Seng in Mainland China/ Macau	Any	HKD190	HKD65
A beneficiary account with another bank in Hong Kong/ Mainland China/ Taiwan/ Macau	Any	HKD220	HKD65
Other Countries/Territories	HKD/Local Currency	HKD220
Other Countries/Territories	Non-Local currency	HKD260

Remarks:

An additional HKD150 per instruction shall be charged if remittance instruction contains Chinese characters (exempted for HKD remittances to Macau).

Foreign as bank charge is not included

Please refer to the Banking Services Fees & Charges table regarding privileges for the Integrated Account of Prestige Banking.

@ Remittance instructions received by the Bank before the cut-off times as specified by the Bank from time to time (i.e. the Cut-off times) may not be processed on the same day unless the applicant/remitter submits the remittance instruction on or before 12 noon Monday to Friday (i.e. business days) via branches or opts for the same day processing (whereas an extra charge of HK$40 will be levied).

12.Will there be any additional charge if the remittance instruction contains Chinese characters?
Yes, an additional HKD150 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.

13.How much will the beneficiary bank and correspondent bank charge for the remittance?
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.

14.How much is the handling charge for amendment / cancellation of an outward remittance?
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.

Mainland China Remittance

- Remittance to Other Countries/Territories
A. General - SWIFT BIC

17.What is a SWIFT BIC?
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.

B. USA

18.What is a Fed wire No. / ABA No. for remittance to the USA?
Fed wire No. / ABA No. is an identifier (clearing number) of a domestic bank in the USA.

C. Europe

19.What is an IBAN Number for EUR remittance to Europe?
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.

20.Should I provide the IBAN number for EUR remittance to Europe? Where can I get such number?
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.
- Transaction Enquiries
21.What can I do if I find the funds have not reached the beneficiaries within a reasonable time? Can I request an investigation?
You may call our Remittance Hotline (Tel: 2123 1088) or approach our branches and provide the remittance details as below:
Remitter Details - Remitter full name and account number
Beneficiary Details - Beneficiary full name and account number
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 HKD250 as handling fee per enquiry).

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	HKD190	HKD65
another banks in Hong Kong/ Mainland China/ Taiwan/ Macau	Any	HKD190	HKD65

Inward Remittance

- Our Services
1.Can I receive notification when funds are successfully remitted to my account?
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 30 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.

2.Can inward remittance be made in RMB for personal customers?
Due to exchange control, inward RMB remittance will happen if a Hong Kong Identity Card holder 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. Remittance from the Mainland China or other places outside Hong Kong for non-Hong Kong Identity Card holder is subject to local rules and requirements of Mainland China or the relevant jurisdictions.
- Timing
3.When will inwardly remitted funds be credited to my account?
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. 5:30pm on Mondays to Fridays; 11:00am on Saturdays; excludes public holidays)
- Charges
4.What is the bank charge for inward remittance?
HKD65 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 HKD15 per transaction for commercial customers depending on the currency of the remitted funds. For personal customers, the bank charge is waived.
- Others
5.What information should I provide to my remittance counterpart?

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 remittance template and e-mail/ fax to the beneficiary.

6.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.
Please refer to our smart tips for inward payments
- Transaction Enquiries
7.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.

Remarks:

Please note the information relating to the services stated above are for customer's reference only and may be subject to changes from time to time by Hang Seng Bank Limited ("the Bank").

The Bank reserves the right to revise any fees, charges, special offers and other services from time to time. The Bank reserves the right to levy a charge on transactions conducted where necessary. Please contact our branches or call Remittance Hotline (Tel: 2123 1088) if you have any queries.

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