Some preliminary knowledge you need to know:

Basic knowledge of bank accounts and cards in Hong Kong

Basic knowledge of bank cards in mainland China

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Question: Is it free to transfer money from mainland China to Hong Kong to accounts with the same name?

Answer: Remittances between the two places are cross-border remittances, paying bank ( → transit bank) → receiving bank, possibly without going through a transit bank. Generally, it is not free. The remitting bank will charge handling fees and telegraphic transfer fees, the receiving bank will charge landing fees, and the transit bank will also charge fees.

Although most situations require fees, there are still a few ways to waive all fees.

Chinese residents cannot remit RMB. If you can remit RMB, please inquire about the fees immediately.

This article was revised in January 2025.

Chinese State-Owned Banks

Bank of China

  1. BOC>Bank of China (Hong Kong): Wealth-level (assets above 1 million) and above customers are exempt from all overseas remittances (including counter, online banking, mobile banking, etc., supporting free transfers to other banks, but cannot waive the landing fees charged by the other bank).

[Special case: From January 1, 2024, to December 31, 2024, using the Bank of China Mobile Banking APP to make cross-border remittances of common currencies (referring to currencies that do not require secondary transfers by transit banks, generally HKD/USD) is free. However, if the number of transactions and amount are too high, you will not be able to continue remitting money using the mobile banking APP. Submitting materials for processing at the counter is not subject to this restriction.] [Lower threshold]

Bank of China (Hong Kong) does not charge landing fees for remittances under the same name, and charges a landing fee of 60HKD for remittances under different names.

[Same name identification: For example, “维基”, WEI JI or JI WEI are both considered the same name.]

Because the official translation of the surname 吕’s entry and exit documents is LYU, but the translation of domestic bank cards is LV, there were no handling fees charged for transfers from Bank of China (Hong Kong) to Bank of China in mainland China, but transfers from Bank of China in mainland China to Hong Kong will be charged handling fees. Partners whose names have the pinyin ü should not use LYU when opening an account in Hong Kong. Go to Bank of China in mainland China to change the pinyin. Bank of China in mainland China may say that it cannot be changed (automatically entered by the system).

Transferring from China to Hong Kong requires manual processing for both remittance and receipt. It may take a long time. It is only processed on working days, and may take three to seven days.

Industrial and Commercial Bank of China

  1. ICBC>ICBC Asia: Transfers to most countries and regions in the world under the same name are free (such as mainland China, Hong Kong, Macau, the United States, etc.), but ICBC Asia will charge a landing fee, for example, ICBC Asia charges a landing fee of 60HKD for each cross-border remittance. No longer charged in 2025.

[Special case: Type I ICBC debit cards opened in the Greater Bay Area (view basic knowledge of bank cards in mainland China) remit HKD/USD to ICBC Asia accounts under the same name, no 60HKD landing fee is charged.]

Note that if you have had cards in other regions, you need to cancel or downgrade the old card and reopen a Type I card in the Greater Bay Area. Opening a new bank card will be subject to card breaking operations in mainland China, and the amount will be limited (setting a limit for transfers), affecting normal card use.

ICBC Asia has a subsidiary bank, China Mercantile Bank. China Mercantile Bank>ICBC Asia is also free, as they are both part of the ICBC Group.

Other

The following banks charge fees:

  1. BOCOM>Bank of Communications (Hong Kong): Type I Bank of Communications debit cards opened in the Greater Bay Area are free for transfers to Bank of Communications (Hong Kong). Type I Bank of Communications debit cards opened in the Greater Bay Area are free for remittances, while other regions are charged. The free activity was not renewed in 2025, and BOCOM charges 60; Bank of Communications (Hong Kong) is free for incoming transfers. Bank of Communications has very strict risk control for remittances.
  2. China Construction Bank (CCB Asia, including the Lu Gang Tong Dragon Card): No such free service, same-name remittances within the bank are charged for each transaction. There are two types, one is the Lu Gang Tong Dragon Card, which can be used for remittances on the webpage. This method is charged based on the remittance amount. For detailed operations, please see the introduction of the Lu Gang Tong Dragon Card. The other is CCB’s cross-border direct remittance, which has this function on the APP. Remittances from China Construction Bank in mainland China are free, and CCB Asia charges 50-60 HKD.
  3. Agricultural Bank of China: No such free service, same-name remittances within the bank are charged for each transaction. For ordinary remittances, the handling fee is 0.1% of the transaction amount, with a minimum of 20 yuan and a maximum of 200 yuan; telegraphic transfer fee is 80 yuan/transaction. If it is an ABC Speedy Remittance, it is $15 + 0.25% of the transaction amount, with a minimum of $15 and a maximum of $50;

Chinese Large Joint-Stock Banks

Industrial Bank

  1. Industrial Bank ★★★★★: Industrial Bank Hong Kong Branch does not have general personal business.

However, if you can open an account with Industrial Bank Hong Kong Branch, China Industrial Bank Global Life Card > China Industrial Bank Hong Kong, remittances in Hong Kong dollars are free.

If you do not have an account with Industrial Bank Hong Kong Branch: [Special case: During the period from 2023.1.1-2023.12.31, the China Industrial Bank Global Life Card remits Hong Kong dollars to your own Hong Kong HSBC bank, and the remittance is completely free within the effective free times (30 free remittances per year, Industrial Bank’s exchange rate and remittance risk control are commendable!). Transfers in US dollars have different transfer routes, some of which are free, but some may be charged. It is impossible to determine how much the fee is, and there is no way to choose, and it may cost 25 USD.

Different Industrial Bank branches have quotas for direct remittances to HSBC Bank (that is, the quota for HSBC as a transit bank). If the quota is used up (that is, the Industrial Bank branch has no money in HSBC Bank), you can only use other fee-based routes (that is, you can only use other banks as transit banks, and remittances to HSBC will definitely be charged). So it is impossible to determine how much the fee is, and there is no way to choose.

Reason for free remittance: The Global Life Card waives handling fees and telegraphic transfer fees. Industrial Bank has HSBC Bank as a transit bank, and HSBC does not charge landing fees, which can achieve complete freedom. [Lower threshold]

Standard Chartered Hong Kong and Bank of China Hong Kong can also be used as transit banks. so,

China Industrial Bank Global Life Card > Standard Chartered Bank (Hong Kong), remittances in US dollars and Hong Kong dollars, only Standard Chartered Bank (Hong Kong) charges a landing fee. If Standard Chartered Bank is a Priority Banking customer, Standard Chartered does not charge a fee, and all fees are free.

China Industrial Bank Global Life Card > Bank of China (Hong Kong), remittances in US dollars, Hong Kong dollars, Japanese yen, and Euros, only Bank of China Hong Kong charges a landing fee of sixty Hong Kong dollars. If the Hong Kong Bank of China account is Smart Account and above, no landing fee will be charged, and all fees are free.

In addition, the China Industrial Bank Global Life Card remits Hong Kong dollars to Bank of China Hong Kong, and Ant Financial may be free. There are different transfer routes, some of which are free, but some may be charged. It is impossible to determine how much the fee is, and there is no way to choose. Remittances to ZA and Airstar are not free.

Note that opening a new bank card will be subject to card breaking operations in mainland China, and setting a low limit may prevent transfers or even make them impossible. If you have previously held other debit cards (savings cards) of Industrial Bank, you can apply to replace them with the Global Life Card directly on your mobile phone. This card replacement generally does not change the limit.

Bank of Beijing Yuexing International Card

  1. It is free to transfer from Bank of Beijing Yuexing International Card to HSBC Bank in Hong Kong. Remittances must be made at the Bank of Beijing counter.

Ping An Bank Private Banking Diamond Card

  1. Ping An Bank Private Banking Diamond Card > HSBC Hong Kong

Ping An Bank Private Banking Diamond Card, remittances in Hong Kong dollars or US dollars to HSBC Bank in Hong Kong are completely free. The principle is the same as Industrial Bank. Ordinary diamond cards charge a telegraphic transfer fee of 45 yuan.

Other

  1. China CITIC Bank > CNCBI: No such free service, same-name remittances within the bank are charged for each transaction.
  2. China Merchants Bank > CMB Wing Lung Bank: No such free service, same-name remittances within the bank are charged for each transaction.
  3. Nanyang Commercial Bank > Nanyang Commercial Bank (Hong Kong): No such free service, only remittance handling fees are waived, not telegraphic transfer fees. Same-name remittances within the bank are charged for each transaction.
  4. China Minsheng Bank > CMB (Hong Kong): No such free service, same-name remittances within the bank are charged for each transaction, with fees charged for both remittance and receipt.
  5. China Guangfa Bank New Mastercard Debit Card waives overseas remittance handling fees. Platinum waives 3 transactions / World Infinite, and charges a telegraphic transfer fee of 50 yuan/transaction. Remittances to HSBC Bank in Hong Kong only incur a telegraphic transfer fee of 50 yuan/transaction.

Global Large Foreign Banks

HSBC

  1. HSBC: Qualified Premier (asset target of 50-100W) or Qualified Employee Plan Premier (asset target) users, global remittances to accounts with the same name within the bank are free. [Although assets are required, considering global free remittances, the threshold is still low]

Standard Chartered

  1. Standard Chartered: Qualified Priority Banking (asset target of 50-100W) users, free transfers between accounts with the same name within the bank.

Citibank

  1. Citibank: Citigold (asset target of 100-150W) users, free transfers between accounts with the same name within the bank. Citibank China’s personal business has now been discontinued.

Hong Kong Local Foreign Banks

Hang Seng

  1. Hang Seng: Qualified Preferred Banking (asset target of 50-100W) users, free transfers between accounts with the same name within the bank. And it supports many currencies.

Bank of East Asia

  1. Bank of East Asia ★★★: During the period from 2023.1.1-2023.12.31, regardless of customer type, you can transfer Hong Kong dollars/US dollars through online banking to accounts with the same name for free. Now each transaction is charged [Lower threshold but strict risk control, remittances may not be possible from time to time, depending on the review efforts of the local branch]

Summary

The only banks that offer completely free remittance fees and have a lower threshold are:

  • Bank of China: Mobile Banking APP, transfer to Bank of China (Hong Kong)
  • ICBC: Industrial and Commercial Bank of China to Industrial and Commercial Bank of China (Hong Kong)
  • Bank of Beijing: Transfer to HSBC Bank in Hong Kong

etc. The number is really small. Generally, only large banks with deep pockets will launch fee reductions, and they are all in the form of activities or have restrictions on usage channels. (Industrial Bank was also recommended here before, but the transit fee is very mysterious, so it is no longer recommended)

Most banks are not free, because remittances from China must be manually reviewed, and cross-border remittances have always been one of the sources of handling fees for banks.

If you do need a large amount and number of same-name remittances, it is recommended to open several accounts, after all, a bank will no longer allow you to remit money after a certain number of cross-border remittances are reached in a year. At this time, you can consider changing to another bank to operate.

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Transfer money from mainland China to Hong Kong for free

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