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 |
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.
|
| 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. |
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.