How to Open an Account at HSBC in Hong Kong

How to Open an Account at HSBC in Hong Kong

Established in 1865, HSBC in Hong Kong has grown to become the largest bank in the region. Globally, HSBC serves over 45 million clients in 71 countries, making it one of the largest financial organisations in the world.

In addition to bank accounts, the HSBC bank offers a wealth of services to help businesses and individuals succeed in the financial world. Clients can choose from over 4,400 locations across the globe.


 

HSBC accounts available in Hong Kong

HSBC in Hong Kong offers a wide range of checking accounts tailored to each client’s lifestyle.

  1. The HSBC Dollar Account provides the basic services, as well as access to mobile banking and the ability to send payments. Clients can manage their account in person at HSBC bank’s branch, through the phone, via ATM, or online. The bank also provides checks to make payments faster and easier.
  2. Alternatively, clients who work in China can apply for a RMB Current Account. It provides the same services but in a other currency and has no max balance.
  3. HSBC bank also offers a USD Current Account, with the same services for people who use USD.
  4. Another option is the HSBC Time Deposit Account, which enable clients to deposit their money and earn a high level of interest for a set amount of time. It is available in 12 currencies, including USD and Renminbi.

Each account requires a min deposit and comes with a variety of term limit options. For example, the Time Deposit accounts offer a higher level of interest than the regular savings accounts. The money cannot be accessed until the term is complete. Clients can withdraw money if necessary, but it may come with a loss of interest and an early withdrawal fee.

Savings Accounts

The HSBC bank also offers savings accounts in 12 different currencies. The HSBC Dollar Savings Account and HSBC Foreign Currency Savings Account require a min deposit. Each account comes with a different set of features, such as:


  1. a bonus interest for a high balance
  2. the ability to set up regular payments
  3. no monthly fee for accounts that hold HKD 5,000 or more.

The interest rates vary depending on the type of account.

How to Open an Account

Clients can register for online banking through the application on the HSBC bank’s site. To register, they must set up an account that includes:

  • choosing a user id and password
  • setting security questions
  • and verifying their identity.

An HSBC bank account number is required, as well as the client’s PIN or phone number. New clients without a bank account can’t apply online. They must contact an advisor in person by visiting a HSBC bank branch or book an appointment by phone. Clients should bring a set of required documents to their appointment.

Businesses looking apply for an HSBC account may not apply online. They must call HSBC bank for more details.