Hong Kong is outside the SEPA schemes' scope and runs its own real-time euro settlement system, which banks may join directly or indirectly.
What Hong Kong's own euro settlement system is, and where SEPA does not apply.
Hong Kong is not among the countries or territories in the EPC's SEPA scheme geographical scope (v7.0, 22 May 2025); the list covers EU/EEA states and named non-EEA countries and territories.
Hong Kong has a euro real-time gross settlement system (Euro CHATS), launched in April 2003, operated within the HKICL-run payment systems, with a designated settlement institution.
Joining the euro clearing system in Hong Kong is voluntary: banks may participate directly or indirectly, other institutions only with permission of the settlement institution and the HKMA, and each direct participant keeps a settlement account with a commercial-bank settlement institution.
HKICL states that Hong Kong's euro system settles euro payments in real time on a gross basis, with finality and irrevocability, and supports payment-versus-payment for EUR/USD, EUR/HKD and EUR/CNY plus delivery-versus-payment for euro debt securities via the CMU.
EPC list of Countries in the SEPA Schemes' Geographical Scope v7.0 (22 May 2025) — European Payments Council
Payment Systems — Hong Kong Monetary Authority
Euro Clearing System in Hong Kong — HKICL
Fact sheet last reviewed 2026-09-26. Jurisdiction rules are confirmed against the sources above; a provider's own requirements differ and are confirmed by the provider.
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Hong Kong is not among the countries or territories in the EPC's SEPA scheme geographical scope (v7.0, 22 May 2025); the list covers EU/EEA states and named non-EEA countries and territories.
Joining the euro clearing system in Hong Kong is voluntary: banks may participate directly or indirectly, other institutions only with permission of the settlement institution and the HKMA, and each direct participant keeps a settlement account with a commercial-bank settlement institution.
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