The bank may instruct multiple payment intermediaries to execute the remittance instruction, where the funds delivery time varies. The bank will determine the available and most appropriate payment intermediary to execute the remittance based on the payee account type, remittance destination, currency and amount.
Correspondent bank charges and additional delivery time will be applied for payments made by US and Canada residents, subject to the prevailing requirements of the respective payment intermediary.
Please have sufficient funds (including remittance amount and related charges) in your account to ensure successful transactions.
For US dollar remittance, beneficiary details including name & address, must be in English. Your application will be rejected if fails to meet this requirement.
For remittance via online or mobile banking in the following currencies: BND, DKK, INR, KRW, LKR, NOK, MOP, PHP, PKR, SEK, THB, TWD, ZAR, you can only select HKD or USD account as the debit source. Please visit branch if you wish to select other currency as the remittance debit account.
In general, applications submitted before 5:00 pm on a clearing day will be processed on the same day. Applications submitted after 5:00pm or on a non-clearing day will be processed on the next business day. The actual time at which the payee bank will credit the funds into the payee account depends on the processing time and public holidays of the payee bank or correspondent bank (if any).
For Renminbi remittance to/from Mainland China requested by customers who are not a holder of Hong Kong Identity Card (“non-Hong Kong resident customer”), approval from relevant Mainland authorities may need to be obtained. Possible consequence such as charges that may be incurred in case the outward remittance be rejected by the RMB Clearing Bank in Hong Kong, the Mainland authorities or Mainland banks.
For Renminbi remittance to Mainland China, the name of the beneficiary account must be identical with the name of remitter’s account.The current daily limit is RMB80,000 per person per day. The daily limit may subject to change by the Bank from time to time.
If your remittance instruction involves foreign currency exchange, foreign exchange rate will be available during Monday to Sunday (except system maintenance hours on Monday 3am to 6am).
All remittance instructions made via SC Mobile or Online banking, with foreign currency exchange performed on spot, are entitled to participate in the FX Membership program (except for instructions involving CNY, KRW, MOP, TWD or cancelled transactions). For details, please visit com/hk/fx and refer to Terms and Conditions of the FX Membership program set out on the website.
Remittance charges and foreign exchange rate is NOT available to display on the following scenarios:
• Renminbi remittance to the Mainland China;
• Remittance with Chinese characters; or
• Scheduled transfers (including recurring transfers)
The bank will effect the remittance instruction according to the prevailing remittance charges and the rate of exchange apply is the Bank prevailing rate of exchange for the relevant currencies at the time of the application is processed.
Your remittance instruction involving Renminbi remittance to the mainland China and Chinese character encoding will not be shown on Transfer History. The applicable Foreign exchange rate and total remittance charges levied will be shown on account transaction history and/or bank statement. For further information, please call our Customer Service Hotline at (852) 2886 8868 (press 2 6 0).
Your remittance instruction will be shown with applicable exchange rate and corresponding debited amount on Transfer History once transaction status is updated as “Successful”.
Cancellation or amendment of any processed remittance instructions subject to the consent of the payment intermediaries, correspondent or payee banks. A cancellation or amendment fee will be charged. Please visit branch in person to submit the request.
For your online security, your transfer limit of “Telegraphic Transfer” will be reset to HKD0 if you have not successfully performed this type of transfer for the past 13 months.
In case that your transfer limit is reset to HKD0, please go to “My Preferences” (for online banking) or “Setting” (for SC mobile) -> “Daily Limit Maintenance” to increase your limit. Authentication is required to adjust the limit.
If the payee information is incorrect, the transaction may be rejected and charges may be imposed.
In line with enhancements to our Group Anti-Money Laundering and Counter-Terrorist Financing Procedures we now require the following information for all cross-border payment transactions, regardless of currency:
• The beneficiary’s full name, account number and address including country/region
• Your full name, account number and address including country/region (please note that when using Online or Mobile Banking, we already have your details on account and will automatically use them in your transaction, but if you have changed your contact details, could you please update them online, through phone banking or at your nearest branch)
Foreign Exchange Risk Disclosure Statement:
• Foreign exchange involves risks. Fluctuation in the exchange rate of a foreign currency may result in gains or significant losses in the event that the customer converts deposit from the foreign currency to another currency (including Hong Kong Dollar).
Risk Disclosure Statement for RMB Deposit Services:
• Renminbi (“RMB”) exchange rate, like any other currency, is affected by a wide range of factors and is subject to fluctuations. Such fluctuations may result in gains and losses in the event that the customer subsequently converts RMB to another currency (including Hong Kong dollars); and
RMB is currently not freely convertible and conversion of RMB through banks in Hong Kong is subject to restrictions specified by the Bank and regulatory requirements applicable from time to time. The actual conversion arrangement will depend on the restrictions prevailing at the relevant time.
In the event of there being any inconsistency between the English and Chinese versions of these notes, the English version shall prevail.