Faster Payment System
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FPS Features Overview |
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No need for recipient’s a/c number You can make transfers1 using just the recipient’s mobile number, email address, or FPS ID. |
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24/7 real-time transfers Make and receive payments anytime2, anywhere, and avoid delays. |
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$0 inter-bank transfer handling fee Free3 instant money transfers through Cyberbanking (Internet) or Mobile Banking (BEA App). |
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Inter-bank transfers FPS connects all participating banks and stored-value facilities in Hong Kong. |
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Pay and receive money by QR Code Make/receive payments using an FPS QR code through Mobile Banking (BEA App). |
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App-to-App & Web-to-App merchant payments Make FPS payments through Mobile Banking (BEA App) triggered by merchant apps or mobile websites. |
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HKD/RMB transfers Available for Hong Kong dollar (HKD) or renminbi (RMB)4 transfers. |
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| Remarks: | 1 | Only applies to receiving banks that support instant payment transfers. |
| 2 | If a recipient wishes to receive money using their mobile number, email address, or FPS ID, they must first register for the FPS Addressing Service with their bank/stored-value facility. Alternatively, the payer can enter the recipient’s bank account number directly, and the payment will still be processed through FPS. | |
| 3 | Instant money transfers through ATM will be charged $10 per transaction. | |
| 4 | Only applies to receiving banks that support FPS renminbi transfers. | |
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How to use the Faster Payment System (FPS) to make free inter-bank transfers in real time? |
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Payee:
The recipient must first register their mobile no., email address, FPS ID and/or HKID number, and link this/these to a designated account through the FPS Addressing Service. They can also set BEA as their default receiving bank.
How to register for the FPS Addressing Service
Payer:
The sender can then make a free inter-bank FPS transfer in real time by entering the recipient’s registered mobile no., email address, or FPS ID through our Cyberbanking (Internet) or Mobile Banking (BEA App) service.
How to make transfers through Mobile Banking (BEA App)?
How to make fund transfers under HK$10,000 through “Pay!’ using BEA App?
