Payments Cut-off in Korea (KST)
| Channel | Payment Type | Mon-Fri (not support during holidays) | Remarks | ||||
|---|---|---|---|---|---|---|---|
| HSBCnet / HSBC Connect |
Priority Payment |
Domestic LCY Payment (Real-Time Payment) | 01:00~23:00 (07:00~23:00*) | Payment instruction can be created during 01:00 ~ 23:00 but it is subject to beneficiary bank's cut-off time. * Actual account posting time (debit/credit time) : 07:00~23:00 |
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| Domestic LCY In-house Payment (STP) | 01:00 ~ 23:00 | LCY in-house process is STP given that there is no particular restriction on transactions accounts.(i.e. residence status, hold, etc) | |||||
| Domestic LCY In-house Payment (non-STP) | 10:00 ~ 16:00 | In case non-STP processing | |||||
| Domestic LCY RTGS (BOK-wire) | 10:00 ~ 15:30 | BOK-wire is non-STP process. | |||||
| FCY payments | Cross-Border 1) | Domestic 2) | |||||
| via SWIFT 3) | via KFTC 4) | ||||||
| USD | 15:30 | 15:00 | 16:00 | 1) Subject to supporting document review completion. For cross-border inward payment, cut-off time is 16:00 subject to supporting document review completion and fund cover to our nostro a/c with correspondent bank. 2) For domestic payment, same cut-off applies for outward and inward payments 3) SWIFT method is non-STP. 4) KFTC method (real-time) is STP. Routing to KFTC depends on payment instruction format, beneficiary bank's cut-off time and system capability, etc. |
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| CAD | 15:25 | ||||||
| EUR | |||||||
| GBP | |||||||
| CHF | 15:00 | ||||||
| DKK | |||||||
| NOK | |||||||
| SEK | |||||||
| CNY | 10:00 | 10:00 | |||||
| AUD | 10:30 | 09:50 | 09:50 | ||||
| HKD | |||||||
| SGD | |||||||
| JPY | |||||||
| NZD | 15:00 V - 1 | 15:30 V-1 | |||||
| THB | |||||||
| SAR | 15:30 V-2 | ||||||
| KRW | 10:30 | ||||||
| FCY In-house Payment | 10:00 ~ 16:00 | FCY in-house process is non-STP. | |||||
| ACH Credit Transfer | File Level / Pre-authorization Level - Batch Payment - Batch run at every hour on the half hour (06:30, 07:30, … , 21:30) |
01:00~21:30 | ACH FLA/Pre-auth payments are executed at batch run as scheduled. Any human support such as enquiry or advice on payment failure are available only during business hours (9:30 – 17:30). Any issues beyond business hours will be followed up on the earliest following business day. |
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| Instruction Level & On-Screen Input - Batch Payment - Twice a day : 08:30 & 15:20 |
15:20 V | ||||||
| Giro-Tax | Giro-Tax instruction + Email + Bills | 18:00 (V-1) | |||||
*STP - Straight Through Process without any manual intervention (fully automated)
**Non STP - Not to process in STP manner due to account restriction, internal control procedure, regulation or some error.
***BoK Wire - Domestic large value payment through Bank of Korea. It is on request basis.