| Q: |
What types of transfers can be made
with the Fund Transfer service? |
| A: |
The following types of transfers can be
made:
 |
Transfers between a company's own
accounts which have been designated in its Business e-Banking
portfolio. |
|
Transfers to 'Other Accounts',
which include transfers to: |
| |
- third-party accounts maintained with Hang
Seng Bank |
| |
- HKD accounts maintained with other local
banks (by Express Transfer /
e-Transfer) |
| |
- USD accounts maintained with other local
banks (by Express Transfer) |
| |
- accounts maintained with other Hong Kong and
overseas banks (By Remittance) |
| Note: |
Express Transfer is equivalent to fund
transfers via Clearing House Automated Transfer System
(CHATS). e-Transfer is equivalent to fund transfers via
Electronic System (ECG). |
|
| |
|
| Q: |
How can transfers be made
online? |
| A: |
Primary User(s) must be authorised by a
company to access the Fund Transfer service. Please click here to obtain the "Business e-Banking
Services Amendment/Termination Form". For Secondary Users, the
service can be assigned by the Primary User(s) online. |
| |
|
| Q: |
What types of Fund Transfer
require beneficiary designation? |
| A: |
All transfer to "Other Accounts". |
|
|
| Q: |
What is "Fund Transfer to Other
Accounts"? |
| A: |
Under "Fund Transfer to Other
Accounts", there are two types of transfers:
|
Fund Transfer to Other Accounts - Registered Beneficiaries |
|
Fund Transfer to Other Accounts -
Non-registered Beneficiaries |
|
|
|
| Q: |
What types of debit accounts may
be used for Fund Transfer? |
| A: |
The following types of accounts may be
used for Fund Transfer:
|
HKD Current Account |
|
HKD Statement / Passbook Savings
Account |
|
Foreign Currency Current Account (except
Retail Margin Trading Accounts) |
|
USD / Multi-currency Savings Account (except
USD Notes Accounts) |
|
Integrated Accounts |
|
| |
|
| Q: |
What is a beneficiary with status
of "Non-registered"? |
| A: |
Beneficiaries with status of
"Non-registered" refer to Non-Designated Beneficiary Accounts. The
transfer limit for transfers to these beneficiaries will be lower
than that for Designated Beneficiary Accounts. |
| |
|
| Q: |
What is a beneficiary with status
of "Registered"? |
| A: |
Beneficiaries with status of
"Registered" refer to Designated Beneficiary Accounts. The transfer
limit for transfers to these beneficiaries will be higher than that
for Non-Designated Beneficiary Accounts. |
| |
|
| Q: |
How to add a new Designated
Beneficiary Account? |
| A: |
You can add a new Designated
Beneficiary Account by registration via accessing Hang Seng Business
e-Banking > Cash Management > Fund Transfer > Other
Accounts > Add Beneficiaries and filling the new beneficiary's
information. You should select the beneficiary status as
"Registered". You will need Primary User(s)' authorization with
Security Code(s) generated by Security Device(s) for the addition.
Instructions submitted before cut-off time will be effective on the
next working day, and those submitted after cut-off time or on
non-working days will be effective on the second working day. The
cut-off time is 9:00 pm on Monday to Friday and 6:00 pm on Saturday. |
| |
|
| Q: |
How can I make transfers to
Designated Beneficiary Accounts? |
| A: |
You can make transfers to Designated
Beneficiary Accounts via Fund Transfer to Other Accounts by
completing the following procedures:
| 1. |
Add a new beneficiary or select an existing
beneficiary record with status of "Registered". |
| 2. |
Provide the transfer details. |
| 3. |
Confirm the
transfer. |
|
| |
|
| Q: |
How can I make transfers to
Non-Designated Beneficiary Accounts? |
| A: |
You can make transfers to
Non-Designated Beneficiary Accounts by completing the following
procedures:
| 1. |
Add a new beneficiary or select an existing
beneficiary record with status of "Non-registered" |
| 2. |
Provide the transfer details. |
| 3. |
Confirm the transfer by entering the security
code generated by the Security
Device. |
If you have not yet applied to
use the "Fund Transfer to Other Accounts" service, please click here to obtain the "Business e-Banking
Services Amendment/Termination Form". Complete the form then sign it
and return it to any of our branches. |
| |
|
| Q: |
Can I change the status of a
beneficiary from "Non-registered" to "Registered"? |
| A: |
Yes. You can do so by accessing the
beneficiary record under View / Amend / Delete Beneficiaries
Section. Click the Amend button next to the target beneficiary and
select the beneficiary's status to be "Registered". This action has
to be authorized by Primary User(s) with Security Code(s) generated
by Security Device(s). Instructions submitted before cut-off time
will be effective on the next working day, and those submitted
after cut-off time or on non-working days will be effective on the
second working day. The cut-off time is 9:00 pm on Monday to Friday
and 6:00 pm on Saturday. You will not be able to make any amendment
during processing. Please call our Customer Service Representatives
on (852) 2198 8000 for assistance. |
| |
|
| Q: |
Can I change the status of a
beneficiary from "Registered" to "Non-registered"? |
| A: |
Yes. You can do so by accessing the
beneficiary record under View / Amend / Delete Beneficiaries
Section. Please note that the change will become effective once it
is confirmed online. You can then make transfer to that particular
beneficiary. Such change of status will effect a lower transfer
limit on the beneficiary. |
| |
|
| Q: |
Do I need to assign different
Beneficiary Alias to the same beneficiary if I wish to register
several different accounts held by that beneficiary? |
| A: |
Yes. If the beneficiary account number
and/or payment currency are different, even if the beneficiary is
the same company/organization, you will need to use a different
beneficiary alias to indicate the difference in beneficiary
details. |
| |
|
| Q: |
How much can a user transfer on a
daily basis? |
| A: |
This is governed by the User Daily
Limits of the user as well as the Portfolio Daily Limits. Both
limits can be viewed by Primary User(s) or, where applicable, the
Management Control Administrator at the Management Control
Section. |
| |
|
| Q: |
What is the maximum Portfolio
Daily Limit for Fund Transfers? |
| A: |
The current maximum Portfolio Daily
Limit for Fund Transfers varies according to the types of
transfers:
|
HKD100,000,000 (HKD One Hundred Million) for
transfers between a company's own Hang Seng accounts
designated in its Business e-Banking portfolio (This limit also includes time deposits set up and gold trade). |
|
HKD20,000,000 (HKD Twenty Million) and HKD2,000,000 (HKD Two Million) respectively for
transfers to Designated Beneficiary Accounts and
Non-Designated Beneficiary Accounts respectively. |
| |
- Third party accounts maintained with Hang
Seng Bank |
| |
- HKD accounts maintained with other local
banks (By Express Transfer /
e-Transfer) |
| |
- USD accounts maintained with other local
banks (By Express Transfer) |
| |
- Accounts maintained with other Hong Kong and
overseas banks (By Remittance) |
|
HKD3,000,000 (HKD Three
Million) for Autopay |
| Note: |
Express Transfer is equivalent to
fund transfer via the Clearing House Automated Transfer System
(CHATS), and e-Transfer is equivalent to fund transfer via
Electronic System (ECG). |
|
| |
|
| Q: |
What is the difference between
Express Transfer and e-Transfer for Fund Transfers to other local
banks? |
| A: |
For Fund Transfer instructions received
within the specified service time ranges applicable at other local
banks, instructions via Express Transfer are effective immediately
and the transfer amount will be credited to the beneficiary account
on the same business day. With e-Transfer, instructions made before
the cut-off time (before 12:00 noon on Monday to Friday) are
effective immediately - the funds will be transferred to
beneficiary's bank account within the same business day. Depending
on the beneficiary bank's processing time, funds could be credited
to beneficiary's bank account within the same business day. |
| |
|
| Q: |
Which currencies can be accepted
for Fund Transfers via e-Transfer? |
| A: |
We only accept HKD for Fund Transfers
to other local banks via e-Transfer. |
| |
|
| Q: |
Who can make transfers between
accounts within the same Multi-currency Savings Account and / or
Integrated Account? |
| A: |
All users, irrespective of whether a
limit of zero has been assigned and / or whether a user is a
non-signing group. |
| |
|
| Q: |
Do limits apply to transfers
between accounts within the same Multi-currency Savings Account and
/ or Integrated Account? |
| A: |
No. |
| |
|
| Q: |
Can transfers be made to overseas
banks accounts through Business e-Banking? |
| A: |
Yes. (For "Fund Transfer to Other
Accounts - Designated Beneficiary Accounts", pre-designation of
beneficiary account(s) is required.) |
| |
|
| Q: |
When will beneficiaries receive
funds which are remitted to overseas banks accounts? |
| A: |
The funds will be debited from the
account prescribed by a user on the same day the remittance, is
executed before cut-off time. The time needed for beneficiaries to
receive the funds will depend on the time the transfer is made and
the time taken by the receiving bank concerned to process the
transfer. |
| |
|
| Q: |
Where can Bank Code and Branch
Code of the beneficiary bank be obtained? |
| A: |
The Beneficiary or the relevant
receiving bank can usually provide the above information. |
| |
|
| Q: |
Is it necessary to have an
Intermediate Bank for remittance? |
| A: |
No. However, if you do know the
Intermediate Bank's information, your provision of such will be
helpful for remittance processing. |
| |
|
| Q: |
What is the minimum transaction
amount for currency exchange? |
| A: |
The minimum transaction amount for
currency exchange is HKD30 or its equivalent in other
currencies. |
| |
|
| Q: |
Can I input remittance
information in Chinese? |
| A: |
Chinese character input and display are
supported for outward remittances to Mainland China, Taiwan, Macau
and Hong Kong. You can input Chinese characters in the following
fields of your Outward Remittance Instruction:
|
Beneficiary Bank Name/Address |
|
Intermediate Bank Name/Address |
|
Beneficiary Name/Address |
|
Message to Beneficiaries (i.e. transfer
details) |
Please note that you can only
input/see Chinese characters if you are viewing the Chinese version
of the relevant web pages. A surcharge will be levied on outward
remittance instructions that contain Chinese characters. |
| |
|
| Q: |
Are there any special
requirements in creating a beneficiary for fund transfer of euro to
Europe? |
| A: |
For all remittances of euro to European
Union (EU) and European Economic Area (EEA), you must provide the
beneficiary bank's SWIFT code (BIC) AND the beneficiary's account
number in International Bank Account Number (IBAN*) format. The
IBAN* should be provided without spaces, hyphens or other
separators. The beneficiary can obtain the correct IBAN* from the
bank at which their account is held.
If this information is
invalid, incorrect, or not provided, the telegraphic transfer is
liable to be rejected, returned and/or delayed, usually with charges
imposed. The Bank accepts no responsibility for any loss or damage
suffered by any person arising out of such rejection, return and/or
delay. Any charges imposed by the receiving bank may be deducted
from the payment amount or any of your accounts.
(*IBAN is
an account number in a standardised format that uniquely identifies
an account held at a bank within Europe. Some banks in Europe only
accept IBAN* as qualified payment format. Providing a valid SWIFT
code and IBAN may help prevent unexpected delays or payment being
returned by some banks in Europe.) |
| |
|
| Q: |
Can commercial customer make
Renminbi fund transfers via Business e-Banking? |
| A: |
Yes, commercial customers can conduct the
third-party and/or same name account CNY transfers among companies,
as well as making renminbi remittances transactions to Mainland for
the purpose of renminbi trade settlement via our Business e-Banking.
Please note different account types are subject to different
regulatory requirements and the transactions must comply with the
relevant rules and requirements as stipulated by the Mainland
Authorities. Please click here for more details on our Bank's RMB
Trade Settlement Services. |
| |
|
| Q: |
To know more about our remittance
service comprehensively? |
| A: |
Please click here for more
details. |
| |
|
| Q: |
What is the maximum online transaction amount for outward remittance transaction choosing "Now" as the Transfer Date for real-time currency exchange before the outward remittance cut-off time, if exceeds, will the instruction be processed? |
| A: |
The instruction will be processed. We will process your instruction without further notice and the final exchange rate of the transaction will be determined by the Bank at the time when such transaction is actually effected.
| Currency |
Max. Transaction Amount |
| Australian Dollar |
HKD 16,000,000 |
| Canadian Dollar |
HKD 16,000,000 |
| Swiss Franc |
HKD 16,000,000 |
| Chinese Yuan/Renminbi |
HKD 16,000,000 |
| Euro |
HKD 16,000,000
|
| British Pound |
HKD 16,000,000
|
| Japanese Yen |
HKD 16,000,000
|
| New Zealand Dollar |
HKD 16,000,000
|
| Thai Baht |
HKD 4,000,000 |
| US Dollar |
HKD 16,000,000 |
| South African Rand |
HKD 4,000,000 |
| Danish Krone |
HKD 1,000,000 |
| Norwegian Krone |
HKD 800,000 |
| Swedish Krona |
HKD 800,000 |
| Singapore Dollar |
HKD 4,000,000 |
|
| |
|
| Q: |
What is the maximum online transaction amount for outward remittance transaction after the outward remittance cut-off time or choosing "Specific Date" for forward dated currency exchange, if exceeds, will the instruction be processed? |
| A: |
The instruction will be processed. We will process your instruction without further notice and the final exchange rate of the transaction will be determined by the Bank at the time when such transaction is actually effected.
| Currency |
Max. Transaction Amount |
| Australian Dollar |
AUD 200,000 |
| Canadian Dollar |
CAD 200,000 |
| Swiss Franc |
CHF 200,000 |
| Chinese Yuan/Renminbi |
CNY 2,000,000 |
| Euro |
EUR 200,000
|
| British Pound |
GBP 200,000
|
| Japanese Yen |
JPY 20,000,000
|
| New Zealand Dollar |
NZD 200,000
|
| Thai Baht |
THB 2,000,000 |
| US Dollar |
USD 500,000 |
| South African Rand |
ZAR 500,000 |
| Danish Krone |
DKK 500,000 |
| Norwegian Krone |
NOK 500,000 |
| Swedish Krona |
SEK 500,000 |
| Singapore Dollar |
SGD 200,000 |
|
