Which countries are supported by "Remittance" function?
Remittance service to the Philippines, Indonesia and China are available.
What currency will the beneficiary receive?
Remittance will be settled through HKD account. Philippine Peso (PHP), Indonesian Rupiah (IND) or Renminbi (RMB) will be credited to beneficiary's account. After submission of the instructions, the remittance amount and handling charge will be debited from the Shacom Pay registered withdrawal account.
What is the exchange rate and service charge for using "Remittance" function?
The exchange rate, receiving amount and service charge will be displayed in the transaction confirmation page. The receiving amount will be converted at the exchange rate determined by the third-party agent. Handling charge will be imposed by the third-party agent for processing the customer's transaction. Incurred fee may not be refunded under various scenarios, including but not limited to rejected or incomplete transactions.
Can I cancel my remittance instructions?
Once you have confirmed remittance instruction, your remittance instruction is irrevocable. Please pay special attention to the completeness and accuracy of the information before confirming your Remittance Instruction.
What is the daily remittance limit?
Remittance to Indonesia and the Philippines:
The remittance limit of each transaction to Indonesia and the Philippines via Shacom Pay is HKD 500-8,000. It is counted in Shacom Pay self-defined daily transaction limit (maximum HKD 10,000).
Remittance to China:
The remittance limit of every transaction to China via Shacom Pay is HKD 500-8,000. It is counted in Shacom Pay's self-defined daily transaction limit (maximum HKD 10,000).
Note: For Hong Kong residents, the total maximum transaction limit of RMB remitted to China is RMB 80,000 per person per day.
Can I check the transaction status at any time after submitting the remittance?
When there is any transaction status update, you will receive push notification. You can also check the latest transaction status in the Homepage / Transaction Details via Shacom Pay App.
Is a foreign currency account required for Shacom Pay 'Remittance' service?
You do not need a foreign currency account for remittance service. 'Shacom Pay' remittance service is settled by HKD, and deducted from HKD Saving Account together with the handling fee. Therefore, foreign currency account is not required for Shacom Pay remittance service to Indonesia, the Philippines and China.
Do I need to create the remittance transaction within service hours of SCB?
Remittance to Indonesia and the Philippines available timeslots:
Available 24/7.
Remittance to China available timeslots:
Monday – Friday: 9:00am to 7:00pm (HKT)
Saturday: 9:00am to 3:30pm (HKT) (Except public holiday)
Note: For remittance to Indonesia, the Philippines and China, fund could be credited to beneficiary bank account depending on the beneficiary bank's processing time.
Are there any requirements on Shacom Pay's remit to China service?
Please follow the remittance requirements / important notice below:
- If the beneficiary is receiving remittance the first time, please remind the beneficiary to perform virtual account registration by setting up an e-account at Bank of Shanghai via ChinaPay website. After you have submitted the remittance, the beneficiary will receive an SMS reminder. The beneficiary is required to register within 72 hours, or the remittance will be rejected
- Please be noted that the beneficiary must be a holder of People's Republic of China resident identity card
- Payer must be an HKID card holder
- Support remittance to the beneficiary's personal account of UnionPay card in mainland China
- Please ensure the receiving UnionPay debit card number is correct before submitting the remittance
- Handling charge will be imposed by a third-party agent for processing the customer's transaction. Incurred fee may not be refunded under various scenarios, including but not limited to rejected or incomplete transactions.
