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Payday for staff members using non-HSB/HSBC banks to receive salary payments

The University uses Hang Seng Bank (HSB) to pay staff salary with payday scheduled on the second last working day of a month. In the past, fund transfers to non-HSB/HSBC bank accounts were made one working day earlier than transfers to HSB/HSBC accounts to allow time for inter-bank central clearing.

Following improvement in the central clearing process which has greatly shortened inter-bank transfer time, it is considered no longer necessary to transfer funds to non-HSB/HSBC bank accounts one working day earlier. Starting from February 2014, salary auto-payments to staff members, irrespective of their recipient banks, will be drawn from the University's bank account on the second last working day of a month and staff members are expected to receive their pay on the same day.

For enquiries, please contact the Payroll and Superannuation Unit of the Bursary (3943 7244/ 1556/7251).