Make Payments and Receive Payments in HKD - Hong Kong Dollar
Pay in Hong Kong Dollars (HKD)
Mondial Change allows you to make international payments in HKD (Hong Kong Dollar) with ease. Manage your Hong Kong Dollar beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply exchange commission on your HKD operations (a spread is applied to the exchange rate, which slightly degrades the interbank rate on the currency pair traded). Your client rate is always communicated transparently before the validation of each of your transactions.
Receive Payments in Hong Kong Dollar (HKD)
Mondial Change allows you to receive payments in HKD (Hong Kong Dollar). Payments in HKD are received in an account in your name with a dedicated IBAN. This HKD account with a nominative IBAN is provided to you free of charge. It allows you to receive payments in HKD from your clients or subsidiaries and also to hold Hong Kong Dollars. The HKD can be reused to make payments in HKD. The HKD can also be converted into EUR or any other currency of your choice and repatriated to your bank account. The Hong Kong Dollar (HKD) account can be located in France or other countries (see possible locations).
Do you want to hedge your exchange risk on the Hong Kong Dollar (HKD)? Check our dedicated page for HKD exchange hedging.
Mondial Change Answers All Your Questions About Payments in Hong Kong Dollars (HKD)
What is the timeframe for a payment in HKD to be credited to the beneficiary's account?
It generally takes between 1 and 2 business days for a Hong Kong Dollar transfer to be credited to the beneficiary's account. However, these timeframes are not contractual, and our partners responsible for executing and routing payments cannot be held liable if HKD payments are credited beyond 2 business days to the beneficiary's account.
What are the fees for a payment in Hong Kong Dollar (HKD)?
The fees applied to transfers in Hong Kong Dollar (HKD) generally range from 0 to 10 euros depending on the agreement with Mondial Change's trading room. The rate mainly depends on your annual HKD exchange volume and the number of Hong Kong Dollar payments made during the year.
Are there minimum or maximum amounts for payments in Hong Kong Dollar (HKD)?
Mondial Change and its partners verify that your Hong Kong Dollar flows are consistent with the data declared during account opening and consistent with your activity volume to ensure compliance and security. If restrictions apply to transaction volumes, they will be communicated to you well in advance of the validation of your operations.
What are the specific rules for executing a payment in Hong Kong Dollar (HKD)?
For HKD payments via the SWIFT network, you need to provide the following information:
• Full name of the beneficiary
• SWIFT/BIC Code
• Account number
Is it possible to modify a payment in Hong Kong Dollar (HKD) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Hong Kong Dollar (HKD) even after it has been sent in SWIFT. If you have, for example, made an error in the beneficiary's name or account number, the correction is made through a SWIFT amendment. If the payment was not executed via the SWIFT network, then it is not possible to make such amendments, and you must wait for the payment to be returned if applicable.
Is the Hong Kong Dollar (HKD) account provided to you a bank account and is it nominative?
The Hong Kong Dollar (HKD) account for which we provide you the details is not a bank account per se because the account-holding institution is not a bank but a partner payment institution. These accounts are labeled in your name, and the IBAN attached to the account is unique. You thus have a guarantee of segregation of your funds in the books of our partners. The security guarantees for your funds are similar to those offered by traditional banks. The account can be located in different countries according to your operational needs. Please consult the page related to opening a Hong Kong Dollar (HKD) account for more information.
Is it possible to hold Hong Kong Dollars (HKD) in the HKD account provided to you?
You can use this Hong Kong Dollar (HKD) account to receive or store Hong Kong Dollars. The funds can then be reused to issue payments in Hong Kong Dollar or be converted into other currencies. The account is also compatible for receiving HKD payments from e-commerce platforms like Amazon or payment systems like Adyen or Stripe.
What are the holidays when payments in Hong Kong Dollar (HKD) cannot be executed?
January 1: New Year’s Day
Variable date (January/February): Chinese New Year – 1st day
Variable date: Chinese New Year – 2nd day
Variable date: Chinese New Year – 3rd day
Variable date: Ching Ming Festival
May 1: Labour Day
Variable date: Buddha’s Birthday
July 1: HKSAR Establishment Day
Variable date: Tuen Ng Festival
October 1: National Day
Variable date: Mid-Autumn Festival – day after the festival
Variable date: Chung Yeung Festival
December 25: Christmas Day
December 26: Boxing Day
History of the Hong Kong Dollar
The New Hong Kong Dollar (HKD) is the official currency of the Hong Kong Special Administrative Region. This currency, issued by the Hong Kong Monetary Authority, plays a crucial role in international trade and reflects the economic dynamics of this prosperous Asian metropolis. With stability and international recognition, the HKD is widely used for daily transactions, investments, and financial operations in the region. Its value is closely monitored by monetary markets and is often considered a benchmark for Asian currencies.
Monetary Policy of the Hong Kong Dollar
The monetary policy of the Hong Kong Dollar (HKD) is managed by the Hong Kong Monetary Authority (HKMA), whose primary mission is to maintain financial system stability and preserve the value of the HKD. This policy is implemented by considering various economic and financial factors, both locally and internationally. The HKMA follows a fixed exchange rate approach for the HKD against the US Dollar (USD). The exchange rate is currently set at approximately 7.8 HKD to 1 USD, with a limited fluctuation margin. This fixed exchange rate policy aims to maintain price stability and foster investor confidence while supporting the competitiveness of the Hong Kong economy.
Features of the Hong Kong Dollar
The Hong Kong Dollar (HKD) has several features that make it a unique and appreciated currency both locally and internationally. Here are some distinctive characteristics: Fixed Exchange Rate: The HKD is pegged to the US Dollar (USD) with a fixed exchange rate of approximately 7.8 HKD to 1 USD, providing stability conducive to commercial transactions and international investments. International Recognition: The HKD enjoys wide recognition and acceptance internationally. It is widely used in commercial, financial, and tourist transactions in Hong Kong and is considered a reference currency in Asia due to the region's economic and financial stability.