Hong Kong SAR accounts: upcoming changes for ACH Debit payments

Last updated: 9 March 2020

Following the launch of the Hong Kong Faster Payment System (FPS) in September 2018, there is an industry-wide initiative led by the Hong Kong Interbank Clearing Limited (HKICL) to migrate ACH Debit (autoPay In) payment processing to the FPS.

In light of this, we will begin migrating the processing of your autoPay In transactions in Hong Kong by October 2020. As part of this transition, you’ll also begin to use the updated ACH Debit screens on HSBCnet.

What this means for you

Any autoPay In transaction coming into your Hong Kong SAR accounts following your mirgration will be processed using the FPS.

If you submit payment files using File Upload or HSBC Connect, you’ll have the option to include additional payment information to use the new features available with the FPS.

There will be no impact to your existing Direct Debit Authorisation (DDA) records.

If you're using standard DDA services, such as requesting debtors to submit DDA records themselves, make sure your debtors know which format you prefer when they’re submitting this information.

Find out more

If you have any questions, please contact your local HSBCnet Support Centre.