FPS Fund Transfer - Faster Payment System

At a Glance

Make instant interbank fund transfers in Hong Kong any time, any day.

With FPS, payments can be made through a registered Proxy ID (email address / mobile phone number / an identifier assigned by FPS (i.e. FPS ID^#) / HKID) or a QR code, in addition to the conventional way of using a bank account number.

^#FPS ID is a unique random number generated by FPS to be associated with your account and can be requested through IDEAL if you choose to use FPS ID to receive FPS payments for your business transactions.

Why FPS

Instant

Save time and benefit from 24x7 instant payments

Simple

Make payments to individuals and business partners with no account numbers required

Seamless process 

Use of QR code to facilitate instant payments

How it works

To Pay with FPS: placeholder

Enjoy the benefits below with DBS FPS Payments:

1.First 50 free real-time HKD FPS payments¹ per month and save up to HKD3,000¹ a year!

2.Make local FPS payments in both HKD and RMB

3.Pay through bank account number or all types of Proxy IDs (mobile number, email address, FPS ID and Hong Kong identity card number)

To Receive with FPS using Proxy ID:
Step 1: Register your Proxy ID with your DBS account through IDEAL or IDEAL Mobile App.
Step 2: Provide your registered Proxy ID or QR code* to your payers through your website, other online channels or your invoices.
Step 3: View FPS transactions on IDEAL Account Activities.

* Generated by merchant

Note: You can make FPS payments using IDEAL, and registration is not required. If you choose to receive FPS payments with a proxy ID, then registration is required.

Subject to Terms and Conditions

¹Terms and Conditions apply. A maximum fee waiver for up to 50 transactions (Cash rebate of HKD250) per calendar month (A total maximum cash rebate of HKD3,000 per year, which will not be rebated in a lump sum at once). A maximum of HKD5 will be rebated for each real-time HKD FPS transaction, applicable to (1) HKD FPS transaction amounts below HKD1 million, where the original charge is HKD5 per transaction, and (2) HKD FPS transactions with a bank charge above HKD5. For details of the FPS charges, please visit DBS Hong Kong Corporate/SME Banking Site > Bottom of homepage > Rates/Fees > Bank Charges Schedule (Corporate Customers).

Eligibility

You must have a DBS HKD or RMB Business Account and sign up for IDEAL to transfer funds to beneficiary of the FPS participating banks.

How to apply

Simply call our DBS Business Care at 2290 8068 to fix an appointment or email [email protected]. Our Relationship Manager will be glad to assist you.

FPS Pricing Guide

Refer to FASTER PAYMENT SYSTEM ("FPS") section here

FAQs

	What is FPS?
	FPS is a faster payment system launched in Hong Kong to enable 24 x7 real time fund transfers between bank accounts in Hong Kong.

	Can I make FPS payments?
	Corporate customers with DBS business accounts can make FPS payments via IDEAL.

	What currency can I make FPS payments?
	DBS supports FPS payments denominated in Hong Kong dollar (HKD) and Renminbi (RMB).

	What is a FPS Proxy ID?
	FPS supports proxy identifier (Proxy ID) such as mobile phone number, email address or FPS ID (an identifier assigned by FPS upon registration) for account identification in addition to the conventional way of using bank account number.

	What types of DBS accounts can I link my Proxy ID to?
	You can register Proxy ID with your HKD / RMB Current and Savings Account, and Multi-Currency Account with DBS.

What is QR Code for FPS?

FPS supports the use of QR code that adopts the common standard published and administered by Hong Kong Interbank Clearing Limited. Businesses have option to use a FPS QR code (usually provided through website, other online channels, or invoices) for FPS payments, which allows their payer to scan the FPS QR code to automatically capture the payment details without the need to manually enter the data.