Electronic Clearing

Service Overview

ECG is a service for clearing and settling various types of small-value electronic payments.

These payment items include:


  • Autodebit and Autocredit items
  • Central Clearing and Settlement System (“CCASS”) items, Investor Account Holder (“IAH”) items and Special CCASS items ("SCI") i.e. money settlement instructions related to CCASS,  IAH and SCI items
  • EPSCO items i.e. point of sale payment generated by the EPS Company (Hong Kong) Limited
  • JETCO items i.e. payments processed and generated by the Joint Electronic Teller Services Ltd.
  • Credit card items i.e. interbank credit card payments processed by the respective Credit Card Companies, namely VISA, MasterCard and UnionPay International
  • Electronic bill payment and electronic donation ("e-payment") items
  • Mandatory Provident Fund (“MPF”) items i.e. payments processed by trustees of MPF Scheme
  • Electronic cheque ("e-Cheque")

These payment items are presented on Day D to Hong Kong Interbank Clearing Limited, and the clearing outputs will be dispatched to the destination banks on the same day.  The interbank settlement will then take place on a batch run basis on either the same day (Day D) or the next business day (Day D+1). 


While "conventional" interbank settlement on Day D+1 is adopted for Autodebit, IAH, SCI, MPF and e-Cheque items, same day settlement (i.e. items are cleared and settled on the same day (Day D)) is adopted for the Autocredit, Credit Card and e-payment items to shorten the clearing and settlement cycle.  For CCASS, EPSCO, and JETCO items, both "conventional" and same day settlements are adopted.


Autodebit, CCASS (both same day and next day settlement), e-Cheque, IAH and MPF items are settled after netting the unpaid items.