,Hong Kong

Hang Seng Bank Limited bags an award in the Payments Banking category at the HKB Greater Bay Area Enterprise Awards

Their single integrated banking helps their customers enjoy a simple and faster USD remittance service in a cost effective way. 

Hang Seng Bank’s (HASE) GBA USD Payment Express has won an award in the Payments Banking Category in the recent Hong Kong Business's Greater Bay Area Enterprise Awards.  Organised by Hong Kong Business, the awards aim to recognise outstanding companies for their excellent performance and commitment to drive collaborative and economic development between Hong Kong and the Greater Bay Area. 

Founded in 1933, HASE is one of Hong Kong’s largest listed companies which offer a comprehensive range of cross-border service for its customers. Its wholly owned subsidiary Hang Seng Bank (China) Limited was established in 2007 with a strong presence in the Greater Bay Area (GBA)  region. In the past years, the company operated on different account and cash management services for GBA customers. One example of this is their “Hang Seng GBA 1-CAP Cash Management Solution,” providing all in one 1-CAP cash management solution to facilitate and address their customer business collection account and liquidity management and payment needs. 

This innovative banking solution is also a big help to their GBA customers in assisting them to speed up their business transactions and manage their accounts easily through a single integrated digital banking. In addition, customers can also manage their working capital effectively across the GBA via all-in-one integrated collection solution and 3-hour-remit express.  

Recently, HASE has launched “USD payment express,” allowing customers to transfer USD from Hang Seng Bank (China) account to Hang Seng Bank (Hong Kong) or other banks in Hong Kong in as fast as five minutes after the valid instruction has been issued.

Compared with the traditional USD remittance method, customers can now enjoy a simpler and faster USD remittance service which allows them to make payments or transfer funds to Hong Kong accounts in a cost effective way.

This new service solution greatly benefits the GBA customers in both financial and operational aspects. First, the transfer cost for USD to Hong Kong bank accounts will be reduced by approximately 50% compared with traditional remittance methods. It will also enhance the account relationship between Hang Seng China and HASE because customers can manage their bank fund flow and accounts across GBA. Lastly, the time to complete a USD remittance transaction will be reduced, and will be a big help for customers who need to migrate their USD working capital or make USD payment from GBA to Hong Kong accounts within a short period of time. 

From the customer perspective, this service provides an efficient method to transfer USD from GBA to different bank accounts in Hong Kong, which can help the customer to speed up USD payment than before. Additionally, customers can enjoy a digital and secured payment process when proceeding the remittance through different platforms. 

Indeed, HASE’s service has provided a more convenient and reliable service for GBA customers to make USD payments to Hong Kong.

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

The tourism board attributes this to anti-epidemic measures involving border control. 
About $270m of the aid will be given as one-off cash subsidies to practitioners.
The rules will be implemented on 19 January.
A possible rate hike in March will also positively affect the bank.
Eligible customers who will apply online can get a 20% first-year premium discount.
Chow Tai Fook Jewelry Group from China/HK SAR was amongst the top 10 companies. 
About 76% have expressed their intentions to look for a new job. 
For the quarter ended, there was a $6.6b worth of sales recorded.
HK online sales could grow by 10% in two to three years.
This includes being more lenient in granting leaves for parents of school children.
Non-residents coming from the country to be barred entry.
Wei Mei Tan and Michael Wong will see their roles take effect immediately.
It vowed to align its resources with the Northern Metropolis Development Strategy.