What is the difference between Payments and Fund
Transfers?
Payments:
The Payments service enables you to submit payments
to selected service providers in Hong Kong.There are
five types of online Payment services, each with their
own transaction limit:
Bill payment type |
Maximum daily sub- limit |
Applicable Channel(s) |
eIPO
(i.e. online payments for shares purchased as
part of an Initial Public Offering) |
HKD$5,000,000 |
Internet Banking |
Government
and Utilities |
HKD$500,000 |
Internet Banking, Phonebanking, and ATM |
Securities
Brokers |
HKD$500,000 |
Internet Banking, Phonebanking, and ATM |
Sports
and Leisure |
HKD$500,000 |
Internet Banking, Phonebanking, and ATM |
Other
Merchants (e.g. telecommunications, insurance
companies) |
HKD$100,000 |
Internet Banking, Phonebanking, and ATM |
In
addition to the daily sub-limits for each merchant category
as stated in the above table, you can gain better control
over merchant payments with a daily master limit of
HKD$5,000,000 per customer for merchant payments across
all automated banking channels (i.e. Internet Banking,
Phonebanking and ATM).
Fund
Transfers:
The online Fund Transfers service is a facility to transfer
money within your own HSBC accounts, to other HSBC accounts
or to accounts with other bank, both in Hong Kong and
overseas.
Types
of transfers |
Maximum
daily sub-limit |
Transfers
to self-name accounts |
HKD999,999,999
per customer^ |
Transfer
to registered accounts |
HKD3,000,000
per account |
Transfer
to non-registered accounts* |
HKD 400,000 for transfer via Personal Internet Banking/ local ATM#
HKD 50,000 for transfer via phone banking/ overseas ATM#
|
In addition to the daily sub-limits as stated in the
above table, there is a daily master limit of HKD$400,000
per customer* for transfers to non-registered third
party accounts using the three automated banking channels.
Service
charges may apply to certain fund transfers and you
may refer to the "Service Fees" section under "Frequently
Asked Questions" for full details.
*
This new limit structure does not apply to sole proprietors
hips. For enquiries, please call (852) 2233 3322 for HSBC Premier customers, (852) 2233 3000 for Other Personal Banking customers.
^ The maximum daily limit for transfers among your self-named accounts is up to the available balance in your account.
# For ATM service, we consider, as existing practice,
any accounts not linked to your ATM card is considered
to be non-registered third party accounts.
For Fund Transfers made to other banks or overseas, what are the maximum number of characters allowed in the beneficiary fields?
The followings are the maximum numbers of characters (including spaces) allowed per field:
|
e-Transfer |
Express Transfer |
Overseas Transfer |
Beneficiary a/c no. |
12 digits |
13 digits |
34 digits or characters |
Beneficiary name |
20 characters |
35 characters |
35 characters |
Beneficiary address |
Not applicable |
Not applicable |
3 lines with 35 characters per line |
Message to beneficiary |
Not applicable |
4 lines with 35 characters per line |
4 lines with 35 characters per line |
Message to beneficiary bank |
Not applicable |
Not applicable |
2 lines with 30 characters per line |
When should I use the Payments facility
versus the Fund Transfer facility?
If you are sending money to a company in Hong Kong as
payment for services provided to you, we recommend you
to check the Merchant List under the 'View and Pay Bills'
Banking option. If the company is listed as a merchant,
use the 'Pay Bill' service to submit your payment; this
way the merchant will be able to readily identify who
has made the payment it is linked to your individual
account number with that merchant. If you wish to send
money to a company that is not listed under the Merchant
List, or to another individual, you should either use
the online 'Transfers - Hong Kong' or 'Transfers - Overseas'
banking services.
Is there a charge for making payments
online?
No. The service is free.
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