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For instant arrival, select CHATS specifically.",[],{"_key":1937,"_type":856,"children":1938,"level":986,"listItem":987,"markDefs":1947,"style":885},"k456",[1939,1943],{"_key":1940,"_type":860,"marks":1941,"text":1942},"k454",[968],"Confirm and submit",{"_key":1944,"_type":860,"marks":1945,"text":1946},"k455",[]," — double-check all details, enter your security code (e.g. OTP), and confirm.",[],{"_key":1949,"_type":856,"children":1950,"level":986,"listItem":987,"markDefs":1959,"style":885},"k461",[1951,1955],{"_key":1952,"_type":860,"marks":1953,"text":1954},"k459",[968],"Note the cut-off time.",{"_key":1956,"_type":860,"marks":1957,"text":1958},"k460",[]," Complete the transaction before your bank's CHATS cut-off time, or the funds will be processed the next working day.",[],{"_key":1961,"_type":856,"children":1962,"markDefs":1967,"style":961},"k464",[1963],{"_key":1964,"_type":860,"marks":1965,"text":1966},"k463",[],"Why a Multi-Currency Account Changes Both Local and International 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typically free.",[],{"_key":2419,"_type":856,"children":2420,"level":986,"listItem":987,"markDefs":2429,"style":885},"k684",[2421,2425],{"_key":2422,"_type":860,"marks":2423,"text":2424},"k682",[968],"Choose a higher account tier for fee waivers.",{"_key":2426,"_type":860,"marks":2427,"text":2428},"k683",[]," If you frequently make SWIFT or local foreign currency transfers, a priority banking tier (e.g. HSBC Premier, Citi Gold) often waives CHATS and SWIFT fees despite requiring a minimum balance — worth it if the volume justifies it.",[],{"_key":2431,"_type":856,"children":2432,"level":986,"listItem":987,"markDefs":2441,"style":885},"k689",[2433,2437],{"_key":2434,"_type":860,"marks":2435,"text":2436},"k687",[968],"Consider a local transfer network for international payments",{"_key":2438,"_type":860,"marks":2439,"text":2440},"k688",[],", which can bypass the correspondent bank fees that make SWIFT expensive in the first place, covered further 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A multi-currency account typically still uses FPS and CHATS for local HKD payments — its main advantage is holding multiple currencies in the same account and routing international payments more efficiently.",[],{"_key":2757,"_type":856,"children":2758,"markDefs":2763,"style":1021},"k824",[2759],{"_key":2760,"_type":860,"marks":2761,"text":2762},"k823",[],"How does a multi-currency account make international payments cheaper?",[],{"_key":2765,"_type":856,"children":2766,"markDefs":2771,"style":885},"k828",[2767],{"_key":2768,"_type":860,"marks":2769,"text":2770},"k827",[],"By holding foreign currency directly and routing payments through local payment networks in the destination country where possible, rather than converting through SWIFT's correspondent banking chain on every transaction.",[],{"slug":930,"title":931},{"_type":144,"alternativeText":2774,"height":145,"url":2775,"width":147},"RTGS Explained: How CHATS, FPS & SWIFT Work in HK","https:\u002F\u002Fcdn.aspireapp.com\u002Fwebsites\u002Fblog\u002F3bed17d90558c43726f88572ea64aea5\u002Fwhat-is-rtgs_cover.webp",[2777,2789,2800,2811],{"_key":2778,"_type":856,"children":2779,"level":986,"listItem":2787,"markDefs":2788,"style":885},"k4",[2780,2783],{"_key":954,"_type":860,"marks":2781,"text":2782},[968],"Core Concept:",{"_key":2784,"_type":860,"marks":2785,"text":2786},"k3",[]," Real-Time Gross Settlement (RTGS) is a central bank payment framework where transactions settle individually, immediately, and irrevocably without netting.","bullet",[],{"_key":2790,"_type":856,"children":2791,"level":986,"listItem":2787,"markDefs":2799,"style":885},"k9",[2792,2795],{"_key":963,"_type":860,"marks":2793,"text":2794},[968],"Hong Kong's System:",{"_key":2796,"_type":860,"marks":2797,"text":2798},"k8",[]," CHATS (Clearing House Automated Transfer System) is Hong Kong's local RTGS system, supporting real-time local clearing for HKD, USD, EUR, and RMB during banking hours.",[],{"_key":2801,"_type":856,"children":2802,"level":986,"listItem":2787,"markDefs":2810,"style":885},"k14",[2803,2806],{"_key":976,"_type":860,"marks":2804,"text":2805},[968],"FPS vs CHATS:",{"_key":2807,"_type":860,"marks":2808,"text":2809},"k13",[]," Use FPS for instant, 24\u002F7 small-value local transfers in HKD or RMB. Switch to CHATS for local transfers exceeding daily FPS limits or for local foreign currency transfers (like USD or EUR).",[],{"_key":2812,"_type":856,"children":2813,"level":986,"listItem":2787,"markDefs":2821,"style":885},"k19",[2814,2817],{"_key":990,"_type":860,"marks":2815,"text":2816},[968],"International Rails:",{"_key":2818,"_type":860,"marks":2819,"text":2820},"k18",[]," Traditional cross-border payments rely on SWIFT, though multi-currency accounts using destination local rails provide faster, lower-cost alternatives to avoid correspondent bank fees.",[],[2823,2829],{"_key":954,"_type":856,"children":2824,"markDefs":2828,"style":885},[2825],{"_key":957,"_type":860,"marks":2826,"text":2827},[],"Moving money in Hong Kong doesn't have to be a guessing game between CHATS, FPS, and RTGS. Whether you're making a high-stakes property down payment or just splitting a dinner bill, choosing the right transfer method is the key to avoiding hidden fees and unnecessary delays.",[],{"_key":966,"_type":856,"children":2830,"markDefs":2834,"style":885},[2831],{"_key":2778,"_type":860,"marks":2832,"text":2833},[],"This guide breaks down how Hong Kong's financial plumbing works, comparing speed, costs, and limits to help you move your funds with total confidence.",[],"2026-08-07T00:00:00.000Z",{"_type":139,"metaDescription":2837,"metaTitle":2774,"socialShareImageUrl":2838},"Learn how Real-Time Gross Settlement (RTGS) works, how CHATS operates in Hong Kong, and how to choose between CHATS, FPS, and SWIFT.",{"_type":144,"alternativeText":2774,"height":145,"url":2775,"width":147},"what-is-rtgs",[2841,2847,2853,2859],{"_key":954,"_type":856,"children":2842,"level":986,"listItem":2787,"markDefs":2846,"style":885},[2843],{"_key":957,"_type":860,"marks":2844,"text":2845},[],"Hong Kong Monetary Authority. \"Real Time Gross Settlement (RTGS).\" hkma.gov.hk",[],{"_key":966,"_type":856,"children":2848,"level":986,"listItem":2787,"markDefs":2852,"style":885},[2849],{"_key":2778,"_type":860,"marks":2850,"text":2851},[],"Hong Kong Interbank Clearing Limited. \"CHATS — Clearing House Automated Transfer System.\" hkicl.com.hk",[],{"_key":2796,"_type":856,"children":2854,"level":986,"listItem":2787,"markDefs":2858,"style":885},[2855],{"_key":963,"_type":860,"marks":2856,"text":2857},[],"Hong Kong Monetary Authority. \"Faster Payment System (FPS).\" hkma.gov.hk",[],{"_key":983,"_type":856,"children":2860,"level":986,"listItem":2787,"markDefs":2864,"style":885},[2861],{"_key":979,"_type":860,"marks":2862,"text":2863},[],"Published fee schedules from HSBC, Hang Seng, Standard Chartered, Bank of China (Hong Kong), and Citibank, referenced as of mid-2026 via each bank's official website.",[],1791455355034]