PRD/HK Payments

The HSBC network advantage

Product highlights

HSBC’s leading network enables you to send and receive funds faster to/from your trading partners in Pearl River Delta (PRD) region. You could benefit from our network advantage and real-time preferential FX rates (including RMB).

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Pearl River Delta account opening enquiries

Features and benefits

Speed for incoming credit - Cross-border payments made from your trading partner’s account opened with HSBC China in Guangzhou, Shenzhen and Dongguan can reach you in 2 hours*, enabling you to deploy your funds and fulfill business needs in a more timely manner. Improved management of incoming payments and credit allows more efficient business decisions.

Reduce your costs on outgoing payments involving Foreign Exchange - A seamless online platform allows you to manage your day-to-day cross-border payment and currency conversions from HSBC Hong Kong to HSBC China in Guangzhou, Shenzhen and Dongguan in one go. You can enjoy real-time cross-currency conversions between major currencies with preferential rates via Online Channels for outgoing payment transaction amounts of USD4 or above (or equivalent ) before the daily cut-off time. It helps you reduce currency costs, mitigate the risk of exchange rate fluctuation, improve transparency and optimise accounts payable.

Certainty in outgoing payments - In addition, cross-border payments remitted to your trading partner’s account opened with HSBC China in Guangzhou, Shenzhen and Dongguan can be made within 2 hours*. In that case your trading partner can receive payments sooner and expedite delivery of goods or services improving speed of fulfillment.

Illustrative example

A large Hong Kong based importer of consumer electronic products has their top trading partners based in Guangzhou.

The supplier delivers the goods once they confirm payments have been credited in their accounts. Any delay in the confirmed receipt of funds impacts the delivery of goods and subsequently the business between the two partners. Additionally, efficiency of the importer is reduced, as they must commit more time to track the payments.

Taking advantage of the PRD/HK Payment solution from HSBC, the Hong Kong importer can complete the payments on priority basis and receive goods provided by their trading partner faster. By using this service, the company not only enjoys the preferential banking services from HSBC; they will also strengthen their relationships with their trading partners, positioning the company for future growth.

Disclaimer

* The above 2-hour payment service will be offered on a best effort basis for payments between accounts opened with HSBC China in the Pearl River Delta region (ie HSBC China’s Guangzhou, Shenzhen, Dongguan branches) and HSBC Hong Kong subject to certain criteria which include, without limitation, the following:

  • Payment instruction (including applicable FX conversion via Real-time FX) shall be submitted through our Online Channels before cut-off time.
  • Relevant banking accounts are in normal operation.
  • Any other condition applicable for payment/funds remittance has been satisfied. The payment shall meet the criteria of HSBC Hong Kong for automatic process.
  • If the payment is cleared via a non HSBC Group intermediary bank, the processing time may be longer than 2 hours.
  • Major supported currencies of Real-time FX via Online Channels which enjoy the above 2-hour payment service will be RMB, USD, HKD, EUR and GBP; the applicable currency type may be revised from time to time at the discretion of HSBC Hong Kong.

Remarks:

  1. HSBC Hong Kong means The Hongkong and Shanghai Banking Corporation Limited; HSBC China means HSBC Bank (China) Company Limited.
  2. Online Channels are applicable to HSBCnet, Business Internet Banking and Business Mobile Banking as provided by HSBC Hong Kong.

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