Important updates to your Hong Kong Dollar (HKD) and Chinese Yuan (CNY and CNH) payments.

We’re making some improvements to how we process payments in Hong Kong Dollars (HKD), Chinese Yuan (CNY),* and Chinese Yuan Offshore (CNH).* This guide explains what’s changing and what you need to do.

What’s changing and why

What’s happening?

We’re updating our banking arrangements for HKD, CNY, and CNH payments. This means you’ll be using new bank account details when you send money to us, and we’ll be using a different payment method when we send money to you.

Why is this happening?

Our banking partner has updated their requirements, so we’ve arranged an alternative provider to ensure your payments continue as smoothly as possible. We’re committed to reducing any disruption to your transfers.

How this affects your payments

When you send money to OFX:

You’ll send payments via SWIFT instead of instant payment methods.

Your payment will still be processed the same day if we receive it before the cut-off time (3:30pm Hong Kong time for HKD, 2:30pm for CNH).

Your bank may charge a SWIFT sending fee (typically HKD 120–250, though this varies by bank).

When we send money on your behalf:

We’ll send via SWIFT instead of Faster Payment System (FPS).

Your payment will be sent the same day if we receive your funds before cut-off.

Your recipient’s bank may charge a small incoming SWIFT fee (typically HKD 55–65).

We’ll cover all intermediary bank fees, so your recipient only pays the fees of their own bank.

Important dates

  • September 3, 2026: Start using the new bank account details (you’ll receive these in a separate email from us and in Deal confirmation Emails for deals involving these currencies).
  • September 3–21, 2026: Transition period — we’ll accept payments to both the old and new OFX bank accounts to help you transition smoothly.
  • September 22, 2026: Only the new bank account details will work. Payments sent to the old account will be returned to you, which could take several days.

What you need to do

Please follow these three simple steps:

Step 1: Delete the old account details.

Remove our old OFX bank account details from your banking app or saved payees. This is important to prevent accidentally sending money to the wrong account, which could cause delays in processing your payment.

Step 2: Save the new account details.

You’ll find the new bank account details in:

  • The email we sent you about this change.
  • Your deal confirmation email each time you book a transfer involving these currencies.

Step 3: Check your recipient details.

For each of your HKD, CNH, and CNY recipients on the OFX platform, please make sure you have these details saved:

  • Account name
  • Account number
  • SWIFT BIC/code
  • Bank name
  • Bank address
  • Recipient address

If any details are missing, please add them to avoid delays or rejections.

FAQs

How much will the SWIFT fees cost?

SWIFT fees vary by bank. Typically, sending fees are HKD 120–250 and receiving fees are HKD 55–65, but please check with your bank for their specific fees. Remember, we cover intermediary fees applied to payments we send for you — your recipient only pays their own bank’s charges.

Will my payments still arrive quickly?

Yes, as long as we receive your funds before the cut-off time of that currency, we’ll process it the same day. Payments sent after the cut-off will be processed the next business day.

Do weekends and holidays affect processing?

Yes, we only process payments on business days. Weekend and holiday payments will be processed on the next business day. Please note that both Hong Kong and US public holidays may affect processing times.

Can I still track my payments?

Yes, you’ll have the same payment tracking visibility you have today.

What happens to my pending Limit Orders* or Forward Contracts^?

Any orders triggered before September 22 will use the old provider and payment rails. Orders triggered on or after September 22 will use the new provider, so please be aware of the updated delivery times and potential recipient fees.

*Limit Orders lock in your target rate, however the market rate may continue to move above or below your target rate. Limit Orders do not guarantee that your desired rate will be reached.

^NZForex issues derivatives to wholesale clients only. Retail clients are not permitted or eligible to enter into any forward contract.

Are there any new payment limits or restrictions?

No, there are no new payment limits or additional information requirements save for that you need to make sure you have your recipient’s SWIFT code if you did not have so previously. Everything stays the same except for the bank account details and payment method.

What if I accidentally send money to the old account after September 22?

We’ll return the funds to you, but this process can take several days and may involve manual processing. That’s why it’s really important to delete the old account details from your banking app and save the new ones.

Need help?

We’re here to support you through this transition. If you have any questions or concerns, please don’t hesitate to contact our customer support team.
You can reach us through:

Thank you for your understanding as we make these changes. We’re committed to providing you with reliable, efficient international payment services.