BOCHK Payment Connect for Mainland Citizens | Generated by AI
Yes, Bank of China Hong Kong (BOCHK) allows Mainland Chinese citizens (non-HK residents) who hold a personal BOCHK account to use the Payment Connect scheme for transferring HKD funds to Mainland China accounts. This is part of the northbound remittance feature, enabling real-time, low-cost transfers via the BOCHK app, internet banking, or FPS (up to HKD 10,000 daily limit per the scheme’s rules, with annual forex quotas applying for Mainland recipients).
Unlike HSBC HK, which explicitly restricts Payment Connect to Hong Kong residents only (non-residents cannot use it for outbound transfers to the Mainland), BOCHK’s service is open to all eligible personal customers without residency-based exclusions mentioned in their guidelines. As the sole settlement bank for the scheme, BOCHK supports seamless cross-border flows for its diverse customer base, including Mainland clients.
Quick Setup/Notes
- Eligibility: You need a BOCHK personal account (HKD-linked) and the recipient’s Mainland bank details (account number or mobile). Mainland Chinese with BOCHK accounts can initiate via FPS ID.
- Fees/Limits: Free or low fees (check app); daily HKD 10,000 cap; subject to SAFE forex rules (e.g., USD 50,000 annual equivalent for Mainland side).
- How: Log into BOCHK app > FPS > Select Payment Connect > Enter payee info.
If you’re a Mainland citizen without a BOCHK account yet, opening one is possible with valid ID (e.g., Mainland ID/passport), though some services may require HK address proof—contact a branch for details.
BOCHK Payment Connect Press Release
HKMA Payment Connect Overview
HSBC FPS FAQ (Restrictions)