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.
Terms and Conditions apply to the services by Hang Seng Bank Limited.