I've personal bank accounts with Shanghai Commercial Bank in Hong Kong (henceforth "SCB") and HSBC Hong Kong ("HSBCHK").

  1. SCB accepts the FPS Identifier only to receive funds, and not to send funds to other banks. Is this unavailability of FPS for outgoing transfers unusual? HSBCHK has this option.

  2. SCB informed me that I must use CHATS, ECG, or TT to transfer to my HSBCHK account. What are the differences for these methods in terms of fees, time, other parameters, etc

  • but where are you sending it from? just send a normal swift wire. (which is a "Telegraphic (!) Transfer" .. tt)
    – Fattie
    Jan 8, 2019 at 14:50
  • The currency matters here, which currency are you going to send?
    – KH.Lee
    Jan 15, 2019 at 2:25

1 Answer 1


Assuming you want to transfer HKD, there are a few options:

  1. Register FPS at HSBC (not at Shanghai Commercial). Use Shanghai Commercial's ebanking system to send fund to your registered phone number or email address. The fund will arrive at your HSBC account almost immediately.

  2. Open a current account in Shanghai Commercial. Transfer your fund from your fund source to this current account. Write yourself a cheque from this current account and deposit to your HSBC account. The fund will need a day or two to clear.

  3. The good ol' way: Locate an HSBC branch or cash deposit machine. Locate a Jetco ATM close to that HSBC branch or machine. Withdraw cash from Shanghai Commercial account and deposit it immediately to HSBC. Doesn't work if amount is too large, though. Fund will be available almost immediately.

  4. If you need to or have already registered FPS at Shanghai Commercial, FPS allows you to register yourself at different banks. When transferring money using FPS, some ebanking sites allows you to select which banks to send the money to, provided that the payee has registered an account of that bank there.

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CHATS, ECG, and TT all costs money. All my ways above are free of charge.

If you need to transfer other currencies, #2 above also works for USD if Shanghai Commercial provides USD checking account. (Actually #3 also works, but Jetco foreign currency ATM is rare; most of such ATMs are HSBC.)

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