HSBC x FPS

FPS is a payment service platform that allows you to make instant payments to individuals and merchants in Hong Kong dollar (HKD) or Renminbi (RMB) via HSBC Online and Mobile Banking. It is available 24/7 and free of charge*, covering participating local banks, financial institutions with Stored Value Facility (SVF) licenses. You can also top up your e-CNY wallet or pay designated overseas merchants instantly.

Traditional fund transfers require the payee’s bank account number, but FPS supports payments made using the payee’s mobile number, email address, FPS Identifier or Hong Kong ID number. FPS also enables you with a QR code to receive payments (registration of FPS and activation of Mobile Security Key is required to generate the QR code). You can also receive payments and transfers from institutions, corporates and the HKSAR government via your Hong Kong ID number.

^*There is no charge from us if you pay money to, or receive money from accounts from other banks via FPS, but other banks may have different charging policies.

As FPS transfers are instant, many banks may have imposed stricter controls in place to make sure the recipient's name and bank account number match. If you are transferring via account number and you've used a nickname to add this person to 'My payees', the payment will be rejected.

Please ask your payee for the exact name the account is registered under. You'll then need to remove them from 'My payees' and add them again using their official name listed on their bank records.

Please note that you don't need to do this if your payee has registered for FPS and you have saved them to 'My payees' using one of their Proxy IDs (mobile number, email address and FPS Identifier).

You can check your Proxy ID’s default receiving bank/ FPS participant on the HSBC HK Mobile Banking app. Simply select your profile in the top right corner, go to 'Pay and transfer‘ and choose 'Register or view FPS registration'. Then select the Proxy ID that you wish to check under the ‘Other FPS registrations’.

Alternatively, you can check it in HSBC Online Banking by going to ‘Register or view FPS registrations‘ under the ‘Pay & transfer’ menu, then select ‘View FPS registrations at other banks’ to check the default receiving bank/ FPS participant of your Proxy ID.

Because FPS transfers are instant, we are putting stricter controls in place to make sure the recipient's name and bank account number match. If someone is transferring money to you via account number and they've used a nickname to register you in their system, the payment will be rejected.

To send money via your account number, this person will need to use the official name that your account is registered under. If you're unsure what that is, you can check your bank statement.

Alternatively, you can register for FPS to receive money via Proxy ID (mobile number, email address and/or FPS Identifier), so the person won't have to enter your name.

If your transaction is successful, you will receive an SMS and email notification. The record will also show in your transaction history.