How long does fps transfer take

An HKID number is a unique and permanent identifier for an individual. It also ensures that the payment can be accurately deposited into your bank account. You can link up your HKID number to your bank account depending on your needs. The registration process is very simple. The whole process is similar to registering your mobile number or email address. If you wish to change your linked bank account in the future, you need to register again.

The new registration will supersede the existing record. All banks that support the registration of mobile number and email address as an FPS proxy also support the registration of HKID number. No you cannot. You can only link up your HKID number to one bank account held solely by you for receiving payments.

The bank or SVF should have the identity of the user and the mobile number verified before registering the mobile number for their customers with the FPS. In making a payment, a sender may see the masked name and the bank or SVF in case it is not a default bank or SVF so as to check the payment information before confirming the payment.

Such information will be maintained by corresponding banks and SVFs only. In case your bank does not support instant payment, you may still send or receive funds through your bank though it would take a longer time a few hours or until the next business day for the transfer to be completed.

Yes if both the payer and payee institutions support FPS payments. You may also transfer funds between SVFs. All banks in Hong Kong can receive funds transferred via the FPS, but not all of them would be able to receive funds for their customers instantly.

Banks and SVFs have defined different thresholds for various types of payment or transfers based on their business models and risk control management. Please contact your banks or SVFs for more details. Please follow the instructions as set out in individual SVF payment apps. You may be required to provide information on your identity and bank account to be debited for top-up purpose. Banks and SVFs would ensure that they protect the privacy of your personal data by complying with the relevant laws, rules and operating procedures.

Inform your bank as soon as possible if you are not able to contact the recipient directly to request return of the money.

No, only you or a person authorized by you can set up a direct debit to debit your account. You may submit your authorisation to your bank directly or through the beneficiary facing FPS Participant. Customers may set limits in their direct debit authorizations to different parties. You may use the scanner function provided in your mobile banking or SVF payment app to scan the QR code of the payee to make payments.

Some QR codes also contain information of the payment amount. Nonetheless, a third party may scan the QR code to obtain the embedded information. Payees should show the QR code to others only when necessary. No registration is needed. Please visit fps. You may check the transaction history of your bank or e-wallet. Confirm the amount and slide to pay. You should also receive a confirmation from merchant once the order goes through.

The merchant app may not support returning to merchant app after payment — please switch to merchant app manually. The payment limit will be bound by the Small-value Funds Transfer Limit as set by you , with a maximum daily aggregated transfer limit at HKD , Once you have successfully made a payment, you will receive a customer notification which may take the form of SMS or Email depending on your preferred channel. Once merchant has received the payment, there should be confirmation on merchant app immediately.

If you have any enquiry or dispute with merchant, contact the merchant directly. Please close SC Mobile, return to merchant app and retry. If issue persists, please select another payment method. You're about to leave our website.

A fast and easy way to make real-time money transfers and P2P payments Faster Payment System FPS allows you for free real-time interbank fund transfers. Important Notice. From 26 July onwards, you will be able to transfer up to HKD , to non-registered payees after increasing your transfer limits in both SC Mobile app and Online Banking.

Click HERE for more information. Introduction Real-time interbank transfer sending and receiving at anytime, anywhere. Learn more. Scan and Pay Pay or receive swiftly by using just a QR code. Pay in merchant app Pay via FPS in e-commerce apps. Easy and simple check out with just a few taps. Fast and easy to top up Enjoy the ease to top up your mobile wallet directly from your bank accounts.

Pay in a fun way Delight your friend with fun-filled animated stickers created by popular illustrators upon each successful transaction via SC Pay. Step 2 Select either your registered mobile number or email address with the bank and the source account to send money.

Pay by inputting Proxy ID - Transfer by saving account. Pay by inputting Proxy ID - Transfer by credit card. Step 3 Select payment by saving account. Step 4 Select your preferred saving account. Step 5 Confirm transfer amount and payment description optional , then slide to proceed the transfer. Step 6 Your transfer is done! Step 3 Select payment by credit card 4.

Step 4 Select your preferred credit card. Pay by scanning a QR code. Step 2 Scan a QR code or import from your phone album to initiate a transfer. Step 3 Enter the payment amount if applicable and payment description optional , then slide to confirm the transfer.

Step 4 Your transfer is done! Forward-dated payments : These are one-off payments sent and received on a prearranged date decided by the customer, for example for paying a bill. Standing orders : These are regular payments that pay a set amount to the same recipient on regular dates, for example on the first day of the month.

Direct corporate access payments : A service for business customers in which payment messages can be sent directly to the Faster Payments Service in the form of bulk files. Processing time and transaction limits are the same, and various software solutions are available to provide the service to businesses.

There are lots of methods available for customers to make Faster Payments. Although Faster Payments are quick and convenient, banks do a lot of work behind the scenes to maintain security while processing the transaction.

First, you instruct your bank to make the Faster Payment, via one of the methods mentioned above. The bank will verify your identity, usually asking for your password. Your bank will check you have enough funds before making the payment. If the bank is unsure of your identity, it will hold the payment and perform additional checks. After doing so, it will send the funds to your supplier via Faster Payments.

The receiving bank then checks that the account number is valid and informs the Faster Payments Service that it has accepted the payment it may reject it. The Faster Payments Service then credits the receiving bank with the funds, then informs your bank that the transaction is complete.

Normally, a Faster Payment arrives within minutes, although sometimes they can take up to two hours. If there is confusion over the identity of the sender, the banks will need to perform extra security checks, which may delay payment further.

Faster Payments can be made and received 24 hours a day, including weekends and bank holidays. These can vary according to whether you are making a Faster Payment from a personal account or a business account. Each bank or building society sets its own limits for both types of transactions.

The Faster Payments website has a handy list showing each bank along with its transaction limits.