When I logged into online banking, there is a new service called "e-Cheque", what is e-Cheque?
e-Cheque is an electronic counterpart of paper cheque and will be issued and presented in digital form. e-Cheque provides an efficient, secured and environment friendly alternative for customers to make and receive payments.
How does it work?
As a Payer, you will issue and authorise e-Cheques via your Internet Banking profile. An e-Cheque in the form of a PDF file will then be available for download and the Payer can send this PDF to the Payee via electronic means, e.g. email.
As a Payee, upon receipt of an e-Cheque, the payee can deposit this e-Cheque via Internet Banking or other supported channels. (refer to deposit section)
The entire e-Cheque process is electronic, it's simple, secure and convenient. Please remember that an e-Cheque cannot be printed in paper form and deposited at a branch, Cheque Deposit Machine or cheque drop-in box these will not be valid and will not be processed.
How do I use it?
e-Cheque is only available via Internet Banking platforms. For Commercial Banking customers, they need to have Business Internet Banking Profile or HSBCnet.
Do I need to pay for the service?
No, the registration and usage of e-cheque service is free of charge.
Will I still be able to use paper cheque?
Yes, you can continue using paper cheques, e-Cheque will not replace paper cheques. However, the new e-Cheque has many added benefits and the sooner you switch to e-Cheques, the earlier you can enjoy those benefits.
Does e-Cheque support Bearer cheque?
No, e-Cheque does not support Bearer or Cash cheques, all e-Cheques must be issued for non-negotiable and 'Account payee only' i.e. Ordered Crossed e-Cheques.
What types of cheques are supported?
HKD, CNY and USD currencies are supported. However e-Cheques cannot be cross currency
e.g. a USD e-Cheque must be issued from a USD Current account and a USD e-Cheque must be deposited into a USD account.