In Hong Kong, the Clearing House Automated Transfer System (CHATS) is the most convenient way to transfer US dollars and Euros.
Basic knowledge of bank accounts and cards in Hong Kong
The CHATS system is like an enthusiastic postman, responsible for delivering US dollars and Euros to where you want them to go. However, the postman doesn’t work for free. Today, let’s uncover the mystery of these transfer fees and see how much this journey of “money” will cost!
This article talks about the cheapest fees for personal accounts transferred online and on mobile phones. Operating at the bank counter will only add to the cost.
To find out how much it will cost in total, you only need to know the outgoing bank fee + incoming bank fee, and add them up.
Detailed Table
| Bank | CHATS Outgoing | CHATS Incoming |
|---|---|---|
| HSBC | Free | Free |
| Hang Seng Bank HASE | Free | Free |
| BOC | Free | Free |
| Nanyang NCB | Free | Free |
| Chiyu Bank | Free | Free |
| CITIC | Free | Free |
| Citibank CITI | Free | Free |
| ZA Bank | Free | Free |
| Mox Bank | Free | Free |
| Airstar Bank | Free | Free |
| Standard Chartered SC | 22USD, 22EUR | Free |
| DBS | HK$200 | Free |
| DBS Treasures | Free | Free |
| Bank of East Asia BEA | HK$100 | HK$15 |
| Dahsing Bank | HK$100-200 | HK$15/2USD/1.4EUR |
| Fubon Bank | HK$55 | HK$50 |
| ICBC | HK$50 | HK$10 |
| CCB | HK$50 | HK$10 |
| China Merchant Wing Lung Bank | HK$50 | HK$15 |
| China Merchant Wing Lung Bank (Gold Sunflower) | HK$50 | Free |
| China Merchant Bank Hong Kong Branch | USD7, EUR unknown | USD2/EUR2 |
| Shanghai Commercial Bank | HKD60/USD8/EUR unknown | HK$20 |
| Agricultural Bank of China ABC | HK$100 | Free |
| China Minsheng Bank | HKD50/USD7/EUR unknown | HKD15/USD2 |
| OCBC | HK$55 | HK$15 |
| Bank of Communications Hong Kong | 6USD, 5EUR | Unknown |
| Public Bank | USD7, EUR unknown | HK$20 |
| China Industrial Bank Hong Kong | 12USD/100HKD/10EUR | Free |
| Ping An Hong Kong Branch (Private Banking) | Free | Free |
PAOBank does not provide CHATS services
Quick Tip
Regardless of account level, only the following are free for CHATS outgoing and incoming transfers:
Bank of China Group + HSBC Group + CITIC + Citibank + Virtual Banks
Bank of China Group: Bank of China + Nanyang + Chiyu
HSBC Group: HSBC + Hang Seng
Click here to view virtual banks in Hong Kong
For other fees, just check the table.
Whether you want to transfer USD to HSBC or EUR to Standard Chartered, remember to check the CHATS fee schedule first!
After all, a smart transferor can always save on fees and add some “fuel” to their wallet. I wish you a smooth transfer and a full wallet!
Recommended Reading
Basic knowledge of bank accounts and cards in Hong Kong
Detailed tutorial on using Hong Kong bank Faster Payment System (FPS) to avoid pitfalls
Hong Kong bank CHATS US dollar and euro transfer fees
Apply for a Hong Kong bank card to open a bank account in Hong Kong
Transfer money from mainland China to Hong Kong for free
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