Hong Kong Banks Support FPS Transfers | Generated by AI
Yes, all licensed banks in Hong Kong are required to participate in the Faster Payment System (FPS), so they support transfers using proxy identifiers like FPS ID, email, or phone number. This means you can send or receive funds across banks in real-time (or near real-time) via these methods, though the exact speed and features (e.g., instant crediting) can depend on the specific bank’s implementation. E-wallet operators (SVFs) are also connected and support it.
Faster Payment System (FPS) - HKMA
FPS Frequently Asked Questions - HKICL
World Bank FPS Case Study: Hong Kong