Nowadays, opening a personal bank account in HSBC Hong Kong is a unique opportunity. The financial structures of this jurisdiction tightened the procedure as much as possible. As a result, Hong Kong non-residents faced a tough choice. Many chose a bank account in some classic offshore (the British Virgin Islands, Commonwealth of Dominica). However, there were also persons trying to overcome significant administrative difficulties and open a personal bank account in Hong Kong.
We do not claim that you will not succeed without professional assistance, but almost always, it happens. Opening a personal account in Hong Kong with HSBC is possible, but only if you entrust all the issues to the experienced experts from our team.
We know HSBC very well and can predict the additional requirements for the client. But even we sometimes encounter misfires or significant difficulties when opening an account. Therefore, we ask you not to repeat the mistakes of others and not to waste time and money. If you are interested in opening a bank account in HSBC Hong Kong, please contact us immediately.
The Hongkong and Shanghai Banking Corporation Limited (that’s what HSBC stands for) is a Hong Kong and British bank at the same time. Its main office is located in London, which automatically increases customer confidence and makes it the first among equals. The idea of opening a personal account here is very attractive and promising.
HSBC in Hong Kong: basic services
The focus on individuals and the desire to offer the best products are quite commendable, but often a financial institution adheres to such priorities only on paper. HSBC Hong Kong is an entirely different matter. The bank offers the best conditions for individuals and does everything to ensure that customers choose HSBC.
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Check the list of required documents, and get the details of the process, terms, and costs.
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Savings bank account with HSBC Hong Kong
This is the main product offered to individuals. Opening a personal savings account with HSBC is the key to financial stability and independence.
Key features:
- Possible to use for making transactions.
- Cash withdrawals are allowed.
- Interest on account balances.
- There is no service fee (if the balance is over 5000 HKD).
- Detailed monthly account reports.
HSBC Hong Kong personal savings account, HKD interest rates:
| Account balance | Rate |
| Up to HKD 5,000 | No interest |
| Over HKD 5,000 | 0.001% |
Important information! If the balance of a personal savings account with HSBC in Hong Kong exceeds HKD 1 million, the bank will offer the client special conditions for cooperation!
Interest rates:
| Currency | Account balance | Rate |
| USD | From USD 1000 | 0.001% |
| THB | From THB 10,000 | 0.001% |
| CHF | From CHF 400 | 0.001% |
| SGD | From SGD 400 | 0.001% |
| GBP | From GBP 150 | 0.001% |
| NZD | From NZD 400 | 0.001% |
| JPY | From JPY 30,000 | 0.001% |
| EUR | From EUR 200 | 0.001% |
| CAD | From CAD 400 | 0.001% |
| AUD | From AUD 400 | 0.001% |
| CNY | From HKD 5,000 | 0.25% |
Other bank account types in HSBC
- Current account in HKD, CNY, or USD.
- Term deposit in HKD. The minimum amount is HKD 10,000; the term is from 1 day to 36 months.
- Term deposit in CNY. The minimum amount is CNY 10,000; the term is 1 or 2 weeks, 1, 2, 3, 6, 9 months, and 1 year.
- Term deposit in foreign currency (up to 10 currencies). The minimum amount is USD 2,000; the term is from 1 week to 36 months. Available currencies: AUD, CAD, EUR, JPY, NZD, GBP, SGD, CHF, THB, USD.
Remote services for a personal bank account with HSBC
- Internet banking. Complete account control, reporting, transactions (domestic and international), online purchases, and regular payments.
- Mobile banking. Similar to Internet banking.
- HSBC ATMs in Hong Kong. Cash withdrawals, deposits, and insurance.
- Phone banking. Full access to your personal bank account with HSBC in Hong Kong.
HSBC Hong Kong credit cards (you receive them automatically when opening a personal bank account)
- HSBC Premier MasterCard. Special privileges, personalized services and offers, interest-free loans (up to 8 weeks), emergency bank assistance, and card bonuses.
- HSBC Advance Visa Platinum Card. Up to 50% off in the best stores, restaurants, and more than 19,000 trade venues, special offers.
- HSBC Visa Signature Card. Bonuses under the bank’s special programs, travel and leisure privileges, exclusive concierge service, and 24/7 emergency support.
- HSBC Visa Platinum Card. Exclusive privileges, 24/7 concierge service, worldwide hotel deals, discounts on holidays, entertainment, car rentals, and more.
- HSBC UnionPay Dual Currency. Dual currency card in HKD/CNY, exclusive travel deals, health insurance, UnionPay ATM withdrawals.
- HSBC Visa Gold Card. Benefits in restaurants, shops and entertainment venues worldwide, bonuses on any purchase, interest-free loans, and 24/7 assistance.
Lending at HSBC Bank in Hong Kong
- Personal loan offers.
- 5 basic lending programs.
- Loan amount – up to HKD 3 million/up to 10 salaries.
Mortgage at HSBC Hong Kong
- Buying a new property or refinancing the secondary market object.
- Large selection of mortgages.
- Opportunity to get a loan for the total property value.
- Up to 25 years term.
Insurance at HSBC Hong Kong Bank
- Travel insurance.
- Property insurance.
- Health insurance.
- Accident insurance.
- Fire insurance.
- Life insurance.
- Car insurance (including driver liability).
Capital management at HSBC in Hong Kong
- Personal asset management strategy.
- Expert capital management.
- Investment management.
- Asset structuring.
HSBC bank fees in Hong Kong
Opening a personal account with HSBC is a complicated procedure but feasible in practice. Usually, our clients are more concerned about the possibility of becoming a client of a reputable bank than banking service fees.
In the case of HSBC Bank in Hong Kong, there is nothing to worry about. Tariffs are pretty loyal, and many services are free of charge. Therefore, you can confidently open an account with HSBC bank (more precisely, entrust these chores to our experts)!
Basic fees:
| Account type | Current (HKD) | Savings (HKD) | Current (CNY) | Savings (CNY) |
| Monthly fee for a balance less than HKD 5,000 | Free | HKD 50 | Free | Free |
| Stopping a payment order at the client’s request | HKD 100 | Free | HKD 100 | Free |
| Returned check fee due to insufficient funds | HKD 150 | Free | CNY 200 | Free |
| Returned check fee due to another reason | HKD 50 | Free | CNY 50 | Free |
| Deposit book replacement due to loss or damage | Free | HKD 100 | Free | Free |
| Checkbook delivery by regular mail/with notification | Free / HKD 25 | Free | Free / HKD 25 | Free |
| Closing an account with HSBC Bank in Hong Kong | ||||
| Within 3 months from the account opening date | HKD 200 | HKD 50 | CNY 200 | CNY 50 |
| Due to the account forced closure by the bank | ||||
Our other products and services in Hong Kong:
- Set Up a Singapore Company with a Hong Kong Account Remotely
- Set Up a Company in Hong Kong with a Hong Kong Account Remotely
- British Virgin Islands Company plus Account in HK
- Opening a Corporate Account with OCBC Wing Hang Bank in Hong Kong
- Opening Personal Bank Account in Hong Kong with DBS Bank
Procedure for opening a personal account in Hong Kong (with HSBC Bank)
This procedure has nothing complicated, but this is true only for Hong Kong citizens and residents. However, for non-residents, everything is not so rosy. There is a reasonably high probability that HSBC Hong Kong will refuse to open an account for them, especially if they are residents of sanctioned countries and unreliable jurisdictions.
Therefore, we strongly recommend you discuss each step with our experts and pay the utmost attention to the documents’ preparation. Remember that HSBC Bank in Hong Kong is not trying to get you as a client. Our common task is to convince the bank officer that you will be useful to the HSBC branch in Hong Kong.
Recommended steps order:
- Request to our experts. The easiest way is via e-mail (info@qwealthreport.com), but you can use any other communication channel.
- Discussion of details. As we have already said, opening a personal account for a non-resident with HSBC Bank in Hong Kong is a challenging task. Therefore, be sure to discuss all the requirements and wishes with our experts. Make sure that you clearly understand the situation and want to open a personal account exactly with HSBC in Hong Kong. Remember that we can offer you less risky alternatives.
- Payment for services. If our conditions suit you, and we understand that we can fulfill your order, you need to pay according to the invoice. Under basic conditions, the service fee is USD 1,500. You can find all payment options here.
- Preparation of documents. This is the most difficult step when opening a personal account with Hong Kong HSBC Bank, but we will try to minimize your worries.
An indicative list of documents for opening a personal account with HSBC Hong Kong (only originals):
- Identity document. For Hong Kong residents and citizens, this is HKIC (Hong Kong identity card) or HKPIC (Hong Kong permanent identity card). For China, Macau, and Taiwan citizens, as well as foreigners, the list of acceptable identity cards will be different (a valid passport will do).
- A document confirming the residence address. A paid utility bill or official correspondence with the bank is suitable to open a personal bank account in Hong Kong with HSBC in most cases. But if the potential client is a citizen or resident of the country on the sanctions lists or unreliable jurisdiction, the bank will ask for additional documents. The list is quite extensive, so you can get details from our experts.
An indicative list of documents for opening a personal account with HSBC Hong Kong that the bank may request additionally:
- Employment information.
- Student status proof (if applicable).
- Purpose or reasons for opening a personal account with HSBC in Hong Kong.
- Initial and current sources of income or personal funds.
- Estimated activity level after opening an account (balance, number of transactions).
- Bank services types that you will use.
- Source of funds specifically for opening an account.
- Residence or tax residency jurisdiction.
- Tax identification number (if applicable).
- All residential addresses for the last year.
When opening a personal account in Hong Kong with HSBC, be sure to pay attention to such points:
- All documents must be in English or have a notarized translation.
- A corporate bank account in Hong Kong for your company or business will help reduce the risk of refusal.
- Opening an account in Hong Kong in a completely remote format is impossible (not only in HSBC but also in other financial institutions of this jurisdiction).
- Knowledge of English, at least at an elementary level, is highly desirable (an HSBC bank employee interview can occur without an interpreter). But we will make every effort to ensure that our staff interpreter is at the interview with you.
If you have any questions, please contact our experts in any convenient way!
