Payment Arrangements for Property Transactions (PAPT)

To embrace the digital payment age and enhance customer protection in property transactions, the banking industry has introduced PAPT, which provides customers with an additional payment arrangement through bank-to-bank electronic fund transfer as an alternative to the existing arrangement. PAPT is fully supported by the Hong Kong Monetary Authority and the Hong Kong Association of Banks.

PAPT applies to:

refinancing transactions of residential properties* in Hong Kong
sale and purchase transactions of residential properties* in Hong Kong's secondary market.

*Include car parking spaces in residential buildings whether independently or together with the residential units.

Why PAPT?

	Faster PAPT streamlines the fund flow of mortgage loan in property transactions, thereby saving time.
	Safer PAPT reduces payment-related risks through direct bank-to-bank electronic fund transfer.
	Same-day settlement of funds Vendors can expect to receive the balance of sale proceeds by the end of completion day the earliest.