Guide to HKD Transfers from Aspire USD Account

What payment methods are used for HKD transfers?

HKD payments sent to Hong Kong are paid out locally via CHATS.
HKD payments sent to other countries are paid out via SWIFT.

What types of beneficiaries can I transfer HKD to?

You can send HKD payments to individual and business accounts.

Is there a limit on the amount I can send?

• CHATS - HKD 500,000 per transaction
• SWIFT - No limit 
  
  

To which countries can I transfer HKD to? 

• CHATS: Hong Kong
• SWIFT: Any countries except the restricted countries here.
  
  

How long does it take for the funds to reach the beneficiary?

CHATS transfers are typically processed within one business day, while SWIFT transfers typically take up to 5 business days to process.

What will be reflected as the sender's name?

• CHATS: For HKD transfers sent through CHATS, our payment partner, CurrencyCloud's local payout partner's name, will be reflected as the sender's name. 
• SWIFT: For HKD transfers sent through SWIFT, the ultimate sender's (i.e., Aspire client) name will be reflected as the sender's name.
  
  

What is the accepted number of characters for the BIC SWIFT?

We accept BIC SWIFT codes with 8 or 11 alphanumeric characters. 

BIC SWIFT must be used when sending payments to any country except the USA. When sending to the USA, ABA must be used.

Important notes for HKD transfers

For CHATS transfers

• Accepted characters of Account Numbers are 1-50 alphanumeric characters.
• Payment Reference only supports 200 alphanumeric characters. The reference field will be truncated to fit this limit.
• Non-ASCII characters will be converted to their ASCII equivalents or removed, to the best of our ability, in order to comply with the limitations of the domestic payment system.

For SWIFT transfers

• Beneficiary Postcode (1-12 characters) and Beneficiary State or Province (1 - 255 characters) will be required when you are sending payments to Canada, Mexico and the USA. 
• Payer Postcode (1-12 characters) and Payer State or Province (1 - 255 characters) will be required when you are sending payments to Canada, Mexico and the USA. 
• IBAN (15-34 alphanumeric characters with space permitted) must be used when sending payments to all IBAN countries. When sending to non-IBAN countries, an account number must be used.
• Account numbers must be used when sending payments to non-IBAN countries. IBAN must be used when sending to all IBAN countries.
• CLABE (18 digits) must be used instead of Account Number or IBAN when sending payments to Mexico.
• ABA: American banks are identified by a 9-digit ABA number, known as the ‘Routing Number’. The ABA should be valid for FedWIRE payments. Some ABA values are only valid for FedACH payments. Payments to FedACH-only ABAs will fail. The ABA is required for all payments to the USA.
• Payment Reference with over 132 characters will be truncated.
• Payment Reason stated in the MT103 is appended after the payment reference, if there is space remaining.
• Any characters not supported will be converted to EBCDIC equivalent or removed to comply with SWIFT payment network restrictions. The SWIFT network permits the use of letters, numbers, spaces, and the following symbols: / – ? : ( ) . , ‘ +.