“Payment Connect”
    “Payment Connect” refers to the linkage of the Mainland’s Internet Banking Payment System (IBPS) and Hong Kong’s Faster Payment System (FPS)
  • Use FPS to conduct real-time RMB fund transfer to Mainland designated bank accounts as well as receive RMB or HKD fund transfers from Mainland bank accounts without service charges
  • Real-time fund transfer services can be completed with ease by simply providing a Mainland mobile phone number or Mainland bank account number along with the recipient’s name
  • Make real-time RMB exchange to your own or a third party’s Mainland bank account without having to open an RMB account
  • Receive instant notifications to confirm successful fund transfers to Mainland bank accounts
Please visit the NCB FPS website for more information: https://www.ncb.com.hk/nanyang_bank/eng/html/FPS_landing_page.html
How to use “Payment Connect”
Use“Payment Connect”via NCB Mobile Banking App or Internet Banking
Via NCB Mobile Banking App:
Step 1: After logging on to the Mobile Banking , click “Home - Transfer”
Step 2: Click “Transfer – Mainland China”
Step 3: Click “Payment Connect”
Step 4: Select a payee from the payee list, or press “New Payees”
Step 5: Select Transfer Method (Mobile Phone NO./ Account NO.) and enter the payee’s information.
Step 6: Enter transaction amount and click “Next”
Step 7: After verifying your instruction details and entering transaction confirmation code, click “Confirm” to complete the transaction. (If you make a payment to registered payee, two-factor authentication is not required).
    Via Internet Banking ：
  • Step 1: After logging on to the Internet Banking , click the menu “Transfer/Payment” – “Remittance to Overseas Bank”- “Transfer Connect”
  • Step 2: After selecting the debit account and sub-account(RMB/ HKD) , enter the remittance amount.
  • Step 3: Select a registered payee, or click “ Unregistered Payees” and enter the payee’s information, click “Next”
  • Step 4: After verifying your instruction details and entering transaction confirmation code, click “Confirm” to complete the transaction. (If you make a payment to registered payee, two-factor authentication is not required).
Important Notes：
  1. Currency conversion risk: the value of your foreign currency and RMB deposit will be subject to the risk of exchange rate fluctuation. If you choose to convert your foreign currency and RMB deposit to other currencies at an exchange rate that is less favourable than the exchange rate in which you made your original conversion to that foreign currency and RMB, you may suffer loss in principal.
  2. The daily remittance limit is HKD 10,000 or its equivalent，and the annual total remittance limit is HKD 200,000 or its equivalent . If your remittance transaction amount exceed the aforementioned limits, please use Swift Remittance.
  3. Please refer to the Bank’s “General Banking Services Charges” for the details of relevant fees. The receiving bank charges are determined by the receiving bank, please contact the receiving bank for details.
  4. Offers 7X24 hours service. There is no cut-off time for FPS Mainland Remittance Service if the receiving bank also supports fund transfer through FPS in real-time. The Bank will continue to provide services as usual on the severe weather. To avoid any doubt, for the purposes of this tips, “Severe Weather” refers to the Hong Kong Observatory issuing a Typhoon Signal No. 8 or above, a Black Rainstorm Warning, or the Hong Kong SAR Government declaring an “Extreme Condition”.
  5. The remittance amount by this service will also be subject to corresponding daily remittance limits to registered overseas payees or unregistered overseas payees (i.e. HK$500,000 and HK$50,000 respectively). If you need to adjust these limits, please click here to **Transfer/Payment Setting**.
  6. The currency of outgoing remittance by this service is Renminbi (RMB) only. You could use direct payments with RMB savings account or instant exchange payments with HKD savings account, and it does not support instant currency exchange remittance transactions for other non-RMB/HKD currencies. If you need to convert other currencies to RMB for remittance, please complete the relevant currency exchange operation first.
  7. The exchange rate shown on the current page is for reference only, the actual transaction rate is based on the exchange rate when the Bank actually handles the transaction, you may check the final transaction amount in “ My Account - Transaction Record”. If you want to enjoy the latest exchange rate or the relevant preferential policies on exchange rate, please use the “Currency Exchange” service to complete the currency exchange operation first.
  8. FPS Mainland Remittance is available to Hong Kong residents only.
  9. This service supports remittance to designated Mainland banks only. For the list of relevant designated Mainland banks, please click here. “The list of designated Mainland banks will be updated by HKMA and the People's Bank of China from time to time.” If the payee account does not support RMB payments, the transaction will be returned, please double check before initiating the transaction.
  10. For assistance, please contact our “Phone Banking” service hotline at (852) 2616 6628.
  11. When making fund transfers, you should careful review and ensure that the account numbers or identifiers used are correct so as to avoid transferring funds to unintended third parties. In the event you receive funds that are mis-transferred to you, you should return the funds through the Bank or else you may be criminally liable.
FAQ of “Payment Connect”
1、What is the benefit of “Payment Connect”?
“Payment Connect” supports real-time, two-way, small-value cross-boundary remittance.
2、What are the key features of “Payment Connect”?
Currently, the Bank only supports person-to-person cross-border transfers, until further notice.
Northbound
(Hong Kong to Mainland China)		 Southbound
(Mainland China to Hong Kong)
Eligible Payer Hong Kong Identity Card Holder Mainland Identity Card Holder
Documentary Proof Required Nil
Remark: The payee is restricted to personal account holders only		 Nil
Service Hours 24x7 The current service hours are from 7:00 AM to 11:00 PM daily, as the fund transfer services provided by different Mainland China banks via Payment Connect may vary, the eligible payer should consult the relevant Mainland China bank before making the payments.
Debit currency Debit from NCB in Hong Kong:
RMB (if the customer already hold an RMB account), or HKD (convert HKD to RMB with instant exchange rates of NCB) 		Debit from designated banks in Mainland China:
RMB
Credit currency Credit to designated banks in Mainland China:
RMB*		 Credit to NCB in Hong Kong:
RMB or HKD*
*If the receiving account does not support RMB, the transaction will be returned to the original debit account directly. If the remittances are processed with real-time foreign currency exchange, the remittances will also be directly returned to the original debit account at the original exchange rate.
3. Which Mainland China banks support “Payment Connect”?
For details of designated banks in the Mainland, please visit: https://fps.hkicl.com.hk/eng/fps/consumers/payment_connect.php
Customers can also view the list of designated Mainland banks on the “Payment Connect” webpage of Internet Banking/Mobile Banking.
Personal Internet banking: “Transfer/payment” > “Payment Connect” > “Unregistered payee” > “Receiving bank” and select the drop-down list.
Mobile banking: “Transfer” > “Mainland China” > “Payment Connect” > “Add Remittance payee” > ”Receiving bank” and select the drop-down list.
4. Are there any transaction limits for transfer to Mainland China via “Payment Connect” ?
Currently, the daily limit of fund transfer to Mainland China is HKD10,000 (or its equivalent) per person and the annual total limit of fund transfer is HKD200,000 (or its equivalent) per person for each participating institution. The limit is separate from the existing daily remittance limit of RMB 80,000 that applies to the same-name transfers
In addition, this transfer limit is also subject to the daily remittance limit to registered overseas payees or unregistered overseas payees (HKD 500,000 and HKD 50,000 respectively). If you need to adjust this limit, please update the limit through the following methods:
Personal Internet banking: “Transfer/Payment” > “Transfer/Payment Settings” > “Transaction Limit”
Mobile banking: “Transfer” > “Limit Management” > Transfer”
5. Will the fund transfer to Mainland China via “Payment Connect” be limited to same name transfer only?
No. “Payment Connect” supports P2P transfer, which included same name account(s) or non-same name account(s) cross-border transfer.
6. Is there any fee charged for “Payment Connect”?
The handling fee for “Payment Connect” is currently waived until further notice.
7. When will the funds arrive at the payee’s bank when transferring funds to Mainland China via “Payment Connect”?
Funds are transferred on a real-time basis to Mainland China via the “Payment Connect”.
For more information on Payment Connect, check out here