Wire transfer is the fastest mode of receiving money in your Chiyu Banking Corporation (Hong Kong) account from abroad. You can receive money into your Chiyu Banking Corporation account from a foreign country via International wire transfer. The transaction is initiated by the sender through a financial institution, however, you need to provide your banking details to the sender for successful transfer of money.
International Wire Transfer to Chiyu Banking Corporation
International wire transfer is one of the fastest way to receive money from foreign countries. Banks use SWIFT network for exchanging messages required for performing international wire transfer. Usually, the receiving bank (in Hong Kong) and the sending bank (in other country) need to have a direct arrangement in place to start the swift transfer – this is sometimes referred to as correspondent banking.
Incoming International Wire Transfer Instructions
To receive international wire transfer in your Chiyu Banking Corporation account, please provide the following wire instructions to the sending financial institution:
| Bank Name: | Chiyu Banking Corporation |
| SWIFT BIC Code for Chiyu Banking Corporation: | For Chiyu Banking Corporation, this code is CIYUHKHH |
| Beneficiary Account Number: | Your complete Chiyu Banking Corporation account number (including leading zeros, if any) |
| Beneficiary Name: | The full name of your account as it appears on your statement |
| Beneficiary Address: | Your complete address |
Note of Caution on Fees: If your money transfer involves currency conversion, there is a high chance you will get a poor exchange rate from the banks and as a result pay high hidden fees. We recommend services like TransferWise for getting best conversion rates and lower wire transfer fees.
Outgoing International Wire Transfer Instructions
To send international wire transfer from your Chiyu Banking Corporation account, You need to know the following information about the person or company receiving the money:
1. The recipient’s account name and address
2. The recipient’s IBAN or account number
3. The name and address of recipient’s bank – including the BIC (Business Identifier Code) / SWIFT code / clearing code
Incoming Wire Transfer Fees for Chiyu Banking Corporation Hong Kong
International Incoming Wire Transfer Fees for Chiyu Banking Corporation is as follows:
| Payment type | Cost |
| Telegraphic Transfer / Mail Transfer | HKD35.00 per item |
| Remittance amount not more than HKD500 or equivalent credited to a CYB account |
Waived |
| Remittance amount more than HKD500.00 or equivalent credited to a CYB account |
HKD60.00 per item |
Outgoing Wire Transfer Fees for Chiyu Banking Corporation Hong Kong
International Outgoing Wire Transfer Fees for Chiyu Banking Corporation is as follows:
| Payment type | Cost |
| Telegraphic Transfer Conducted via Branches | HKD210.00 per item |
| Telegraphic Transfer Conducted via Electronic Channels | HKD105.00 per item |
Apart from the wire transfer fees, if the transfer involves currency conversion, banks make money on currency conversion as well by giving retail conversion rates to you which is usually 1-2% lower than the market rate. We recommend using services like TransferWise for getting best conversion rates with lower wire transfer fees.
Outgoing Wire Transfer Cutoff Time for Chiyu Banking Corporation Hong Kong
1. The Cut-off Times for Chiyu Banking Corporation differs. Please visit your nearest branch for cut-off time.
2. Any requests received after cutoff time will normally be processed the next working day.