Otc Clearing Hong Kong Limited SWIFT/BIC code

What OCCPHKHH means for a payment to Otc Clearing Hong Kong Limited

The short code OCCPHKHH and the full code OCCPHKHHXXX refer to the same bank: Otc Clearing Hong Kong Limited in Hong Kong, Hong Kong SAR China. Every bank on the SWIFT network uses these codes to direct payments between countries to the correct institution. In practice you usually see the code on international invoices, in payment forms and on the account details of Otc Clearing Hong Kong Limited customers.

On this page we explain how the code means, when you need it and what else you need for a transfer to or from Otc Clearing Hong Kong Limited. A SWIFT code names a bank or branch, not a single account; the IBAN or account number does that.

Receiving money from abroad at Otc Clearing Hong Kong Limited

Someone abroad who wants to pay you will ask for several details about your account. The basics are: the account holder’s name, IBAN or account number, OCCPHKHHXXX or OCCPHKHH and often your postal address.

It helps to add Otc Clearing Hong Kong Limited and its city as well, because some payment forms have separate fields for them. A typo in the IBAN is more trouble than you might think, so copy the details from your online banking.

An incoming payment does not always land in full. Charges on incoming payments differ per bank. Make clear with the sender who pays which costs, especially for larger amounts.

Paying into Otc Clearing Hong Kong Limited in HKD

The local currency of Hong Kong SAR China is the Hong Kong Dollar (HKD). When you pay another currency it has to be converted somewhere along the way. You rarely see a separate charge for that conversion.

Where the conversion happens affects the final amount, as rates and margins differ per bank. Check how much HKD arrives with different services.

Rates for HKD change during the day, and some providers let you lock in a rate. On larger amounts, even small gap in the rate adds up quickly.

A note on our data

This directory is compiled from public sources and we update it periodically. Even so, banks merge, rename themselves or change codes and our data may lag behind. The number of codes we show are based on what is in our directory and not on information from Otc Clearing Hong Kong Limited itself.

See the information here as a helpful check, and let the details from the recipient or Otc Clearing Hong Kong Limited have the final say. GoldexPay is independent of Otc Clearing Hong Kong Limited; we are a comparison site for money transfers. If you notice a mistake, we appreciate a message.

Before you send: check the Otc Clearing Hong Kong Limited code

The most reliable source for the BIC is the bank details provided by the recipient. Compare it with OCCPHKHH here and ask if anything does not match.

Errors in the BIC are costly rather than fatal – usually the money comes back, minus fees and time lost. Remember the IBAN: a mistake there is more difficult to correct than a wrong code.

An automatic check in your banking app only tells you that the IBAN exists. Where available, a payee name check on the recipient adds extra certainty. A small test payment can be a sensible step for large sums, even if it costs an extra fee.

Head office or branch code at Otc Clearing Hong Kong Limited?

Having 2 codes, Otc Clearing Hong Kong Limited belongs to the banks that register separate codes for branches. The main code is OCCPHKHHXXX.

For most incoming transfers, the head office code OCCPHKHHXXX works fine. Just use a branch code when your contact explicitly asks for it, for example on an invoice or in their bank details.

The best way is to copy the code straight from the recipient’s bank details. Branch codes are more likely to change than OCCPHKHHXXX when a bank merges or closes offices.

Why Otc Clearing Hong Kong Limited has an 8- and an 11-character code

Each SWIFT/BIC code has an 8-character core: four letters for the bank, a two-letter country code and a two-character location code. In this case, the 8-character core is OCCPHKHH.

XXX at the end of OCCPHKHHXXX is not a missing value or a mistake: it stands for the main office of Otc Clearing Hong Kong Limited. Certain payment forms insist on 11 characters, in which case you can enter XXX after OCCPHKHH.

Leave out spaces when you enter OCCPHKHH or OCCPHKHHXXX. Look out for the letter O and the digit 0 or the letter I and the digit 1; they are easy to mix up.

Sending money abroad from Otc Clearing Hong Kong Limited

The price of a payment abroad has several parts. There is the transfer fee, possibly fees charged by intermediary banks in between and, most importantly, the margin on the exchange rate when the money is converted.

The markup on the rate tends to be the biggest cost even though it is not listed as a fee. An easy check: put the rate you get next to the mid-market rate for the same moment and look at the difference.

For a lot of routes, a specialist provider turns out to be less expensive than a bank – mostly thanks to the rate. GoldexPay lists these services next to each other so you can see what actually arrives. You can still keep your account at Otc Clearing Hong Kong Limited to fund the transfer.

Watch out for payment fraud

Be alert when a contact suddenly asks you to send money to another account or a bank in another country. A real SWIFT code says nothing about who owns the account – scammers simply use real codes.

Always confirm changed bank details through a phone call on a number you know, not one from the message. Watch out for urgent requests, unusual wording or an email address that differs by one letter. If a payment was sent to the wrong account, call your bank right away.

People receiving money can be targeted as well: one known trick is an overpayment followed by a request to refund the difference. A payment confirmation from the sender is no proof.

When will the money arrive at Otc Clearing Hong Kong Limited?

How fast a transfer arrives at Otc Clearing Hong Kong Limited is determined by a few things: the currency, how many intermediary banks are involved, daily processing deadlines and time zones. Bank holidays in the sending or receiving country can add extra days to the journey. Sometimes a bank asks what the payment is for, which can hold things up.

If a transfer seems delayed, ask the sending bank about the status or the UETR. Money transfer services often provide a status in their app showing where the payment has got.

If the money does not arrive after a few business days, the sender should start with their own bank. Request from the sender a copy of the payment confirmation with the date and reference.