Payment Connect allows you to make instant small-value cross-border transfers between Hong Kong and mainland China through HSBC HK App and Online Banking. It is free of charge.
Hong Kong residents can transfer to a personal payee in mainland China, subject to the daily small-value payment limit of HKD10,000 and the annual transfer limit of HKD200,000.
Payment Connect also supports transfers to a corporate payee in mainland China for the purpose of tuition fee, medical fee and utility bill payments; it is available to both Hong Kong residents and non-Hong Kong residents, subject to the daily small-value payment limit of HKD10,000.
Similarly, you’ll also be able to receive payments from a mainland China’s account through Payment Connect by using your FPS proxy ID or account number.
Note: The above transaction(s) are also subject to the daily cross-border transfer master limit of HKD3,000,000.