Sending business payments from the US to Hong Kong
A US company pays a Hong Kong supplier or subsidiary by SWIFT wire, usually in US dollars, to its account at a Hong Kong bank, using the account number, the bank's name and address and its SWIFT code; Hong Kong accounts do not use IBAN. Inside Hong Kong, dollars move between banks on USD CHATS in real time, and Hong Kong dollars on CHATS or FPS. This guide covers the details to collect, the rules, the routes and timings, holidays, documents and fees.
- Hong Kong accounts do not use IBAN, so a US payer needs the account number, the bank's full name and address and its SWIFT code.
- USD CHATS, launched in August 2000 with The Hongkong and Shanghai Banking Corporation as settlement institution, settles US dollar payments between Hong Kong banks in real time.
- FPS, launched by the HKMA on 17 September 2018, runs 24x7 for Hong Kong dollars and renminbi but does not carry US dollars.
- HSBC Hong Kong's August 2026 tariff lists HK$65 for an overseas transfer credited to an account and HK$15 for an inward CHATS payment.
- The HKMA keeps the Hong Kong dollar within HK$7.75 to HK$7.85 per US dollar, so most Hong Kong trading companies invoice and hold US dollars.
Details to collect from your recipient in Hong Kong
Unlike accounts in Europe and much of the Middle East, Hong Kong accounts have no IBAN, the International Bank Account Number format. An account is identified by the bank and the account number, and the bank's SWIFT code identifies it for payments from abroad. Ask the recipient for the details of the account in the currency you will pay, because many Hong Kong companies hold Hong Kong dollars, US dollars and renminbi in one multi-currency account with separate sub-accounts.
| Detail | What to ask for | Why it matters |
|---|---|---|
| Beneficiary name | Company name exactly as registered on the account | A trading name or a shortened name is a common cause of queries |
| Account number | The USD account number, including bank and branch code if the bank formats it that way | Credits the right currency balance |
| Bank name and address | Full legal name and Hong Kong address of the bank | Required on SWIFT wires |
| SWIFT code | The bank's 8 or 11 character code | Routes the wire from the US |
| Bank code | The bank's numeric code, used for local CHATS and FPS payments | Needed for a local payout inside Hong Kong |
| Intermediary bank | Only if the recipient's bank instructs one for US dollars | A wrong correspondent can delay the payment |
| Reference | Invoice number | Lets the recipient match the payment |
Sources: HKMA, Payment Systems; field list reflects SWIFT and CHATS practice, compiled by the Helm Editorial Team. As published on 29 October 2026.
USD or HKD: what Hong Kong's rules mean for your payment
The Hong Kong dollar has been linked to the US dollar since 17 October 1983 under the Linked Exchange Rate System, and the HKMA keeps it within a band of HK$7.75 to HK$7.85 per US dollar. Because the two move together, most Hong Kong trading companies price, invoice and hold US dollars, and a dollar invoice is the norm for goods. See the US dollar to Hong Kong dollar page for the peg in detail.
| Rule | What it says | What it means for your payment |
|---|---|---|
| Exchange rate | Linked to the US dollar within HK$7.75 to HK$7.85 | Little currency risk for the recipient in taking dollars |
| Repatriation and conversion | No deadline to bring export proceeds home and no conversion obligation in the HKMA pages cited | The recipient can keep your dollars as dollars |
| Renminbi | RMB CHATS was upgraded in June 2007, with Bank of China (Hong Kong) as clearing bank | A Hong Kong recipient can also take renminbi locally |
| Local US dollar payments | USD CHATS settles US dollar payments between Hong Kong banks in real time | A Hong Kong payer can pay dollars locally without SWIFT |
| FPS | Runs 24x7 for Hong Kong dollars and renminbi; does not carry US dollars | Dollar payments inside Hong Kong use USD CHATS, not FPS |
Sources: HKMA, Linked Exchange Rate System, Payment Systems and Faster Payment System pages. As published on 29 October 2026.
Many Hong Kong companies are the selling arm of factories in mainland China. When you pay one, the Hong Kong company should be the seller named on the invoice and the contract. Our guide to sending money from the US to China covers the mainland side, where the supplier's bank checks the trade behind each receipt.
Rails and arrival times: SWIFT, USD CHATS and FPS
A payment from a US account reaches Hong Kong by SWIFT. The dollars settle in the United States on Fedwire, open from 9:00 p.m. ET the evening before to 7:00 p.m. ET each weekday, with customer transfers accepted until 6:45 p.m. ET. Hong Kong is 12 hours ahead of New York in the US summer and 13 hours ahead in the US winter, so a wire sent on a US Friday afternoon reaches a Hong Kong bank on Monday at the earliest.
| Route | What the recipient receives | Timing, as published | Notes |
|---|---|---|---|
| SWIFT wire in USD | US dollars in the USD account | Swift reported in August 2023 that 89% of payments on its network reached the recipient's bank within an hour | The standard route from the US |
| Payout over USD CHATS | US dollars, paid locally | Real time on Hong Kong bank business days | Settlement institution: The Hongkong and Shanghai Banking Corporation |
| Payout over HKD CHATS | Hong Kong dollars | Real time on bank business days | Settled across accounts held with the HKMA |
| FPS | Hong Kong dollars or renminbi | Almost immediately, 24x7 | Does not carry US dollars |
Sources: HKMA, Payment Systems and Faster Payment System; Federal Reserve Financial Services, Fedwire operating hours; Swift, 22 August 2023. As published on 29 October 2026.
CHATS is the Clearing House Automated Transfer System, which settles each payment individually and in real time. Each Hong Kong bank sets its own daily cut-off for CHATS and incoming SWIFT payments, so send before mid-morning New York time when a payment is due the next Hong Kong day.
Documents, screening and Hong Kong holidays
Hong Kong banks apply anti-money laundering checks to incoming payments, and a first payment from a new payer, or a large one, can prompt a question to the recipient about who paid and why. Put the invoice number in the payment, and make sure the recipient has the contract or purchase order ready. For a trading company, the bank may also ask about the underlying supplier and the goods.
One more check sits on your side: OFAC states that all US persons, including US-incorporated companies and their foreign branches, must comply with its sanctions, so screen the recipient, its owners and its bank against OFAC's lists before the first payment (OFAC FAQ 11).
| Problem | What happens | How to prevent it |
|---|---|---|
| Dollars sent to the HKD sub-account | Converted at the bank's rate | Ask for the USD account number |
| Name differs from the account | Queried or returned | Copy the name from the bank letter |
| Wire arrives on a Hong Kong general holiday | Credited the next business day | Avoid 25 and 26 December 2026, 1 January 2027 and 6, 8 and 9 February 2027 |
| Sent on a US Friday afternoon | Reaches Hong Kong on Monday | Send earlier in the week |
| Payment sent as SHA | Arrives short of the invoice | Use OUR for invoices that must be paid in full |
| Account belongs to a different company from the seller | Mismatch with the invoice; fraud risk | Pay only the seller named on the invoice |
Sources: Education Bureau, Hong Kong SAR Government, General Holidays 2026 to 2027; HKMA; Helm Editorial Team. As published on 29 October 2026.
Costs: SHA, OUR and Helm's fees for payments to Hong Kong
A dollar payment to Hong Kong can carry your provider's fee, intermediary deductions and the recipient bank's charge for crediting it. On SHA terms the recipient bears the intermediary and receiving fees; on OUR terms you do. Because Hong Kong banks receive dollars routinely, a local CHATS payout can avoid the correspondent chain altogether. For the recipient's account options, see USD business accounts in Hong Kong.
Helm is a financial technology company, not a bank. Its US dollar account services are provided by Bridge Building, Inc. (NMLS ID 2450917), a licensed money transmitter, with customer funds held at Lead Bank. Helm sends international payments by SWIFT and by CHATS within Hong Kong, and shows the rate, the fee and the expected arrival before you confirm.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.
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What details do I need to send money to a Hong Kong company?
You need the company name exactly as on the account, the USD account number, the bank's full name, address and SWIFT code, and any intermediary bank it names for dollars. Hong Kong does not use IBAN.
Can I pay a Hong Kong supplier in US dollars?
Yes. Hong Kong banks hold US dollars in multi-currency accounts and receive them by SWIFT from abroad and by USD CHATS locally. The Hong Kong dollar is linked to the US dollar, so most trading companies invoice in dollars.
What is USD CHATS?
USD CHATS is Hong Kong's real-time system for settling US dollar payments between banks in Hong Kong, launched in August 2000 with The Hongkong and Shanghai Banking Corporation as settlement institution.
Can I send US dollars by FPS?
No. FPS, launched on 17 September 2018, runs 24x7 for Hong Kong dollars and renminbi but does not carry US dollars. Dollar payments inside Hong Kong use USD CHATS.
How long does a wire from the US to Hong Kong take?
The dollars settle in the US on Fedwire, and the Hong Kong bank credits them on its next business day. Hong Kong is 12 or 13 hours ahead of New York, so a wire sent on a US Friday afternoon reaches the bank on Monday at the earliest.
What does Helm charge to pay a company in Hong Kong?
Helm pays out to Hong Kong over CHATS as well as by international wire, and shows the fee for each route before you confirm. Conversion is shown before you confirm.
References
- Hong Kong Monetary Authority: Payment Systems (HKD, USD, Euro and RMB CHATS)
- Hong Kong Monetary Authority: Faster Payment System
- Hong Kong Monetary Authority: Linked Exchange Rate System
- HSBC Hong Kong: Commercial Banking complete tariffs, August 2026
- Education Bureau, Hong Kong SAR Government: General Holidays, September 2026 to August 2027
- Federal Reserve Financial Services: Fedwire Funds Service operating hours
- Swift: Cross-border payments on Swift exceed the G20's processing speed target (22 August 2023)
- Office of Foreign Assets Control: FAQ 11, Who must comply with OFAC sanctions?
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.