Receive local wire transfers in HKD (Hong Kong)

Overview

A local wire transfer in HKD is a transfer of funds between banks in Hong Kong in the local currency, HKD. This method is valued for its reliability, convenience, and speed, as it provides a direct transfer from one bank account to another within the country.

Supported currencies

Hong Kong dollar (HKD)

📌 If the currency of funds in your Smartcat balance is different from HKD, the funds are converted to HKD at Smartcat's exchange rate on the day of the payment.

Commission

5 USD + 0.5% of the withdrawal amount. The fee is converted into the payout currency at the time of the transaction.

You can view a list of companies that reimburse your commission in the My Payouts section (click the Learn more button on your payout method).

Minimum and maximum payout amounts

From 80 HKD to 500,000 HKD

Smartcat lets you set the minimum amount from which a payment is sent to you. You can learn more in the article Minimum payout amount.

Required details

Advantages

• Cheaper than international transfer. There is no intermediary bank, and the commission is lower than for an international wire transfer

• Speed. Payouts are processed within up to 3 business days on the Smartcat side and up to 1–2 business days on the bank side

• Funds are received immediately in the local currency. You do not spend money on additional conversions and can use the money in your country right away

FAQs

I chose this method, but the payment was rejected. Why?

Act as follows:

• Make sure you provide payment details for a local wire transfer (not an international SWIFT transfer)

• Make sure the postal code, city, street, and house number are specified in the corresponding fields of the details. Make sure you do not enter a PO box or email address instead of your residential address

• Check that the account number, bank name, SWIFT, branch code, and bank code are correct

• Make sure the name of the account holder is entered in the details exactly as it appears in the bank details, including all spaces and symbols

I cannot find the payment. What does the payment look like on the bank statement?

The purpose of the payment indicates the payment ID in the format PO-XXXXXX-XXXXX, which you can find in the Payout History section.

SMARTCAT EUROPE B.V. or THE CURRENCY CLOUD LIMITED appears as the sender, depending on the beneficiary's bank.

For which countries is this method available?

The method is available exclusively for receiving funds to a Hong Kong bank account.

I received a payout from Smartcat. I need to invoice for this payment. What details should be used for issuing such invoices?

When receiving funds by local bank transfer in HKD, enter the following Smartcat details in your account:

Full name: Smartcat Europe BV

Legal address: Strawinskylaan 903, 1077 XX Amsterdam, the Netherlands

VAT no.: NL859832880B01