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HSBC - Hong Kong

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Account Opening

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 What accounts and services are available ?
For companies
BusinessVantage is an all-in-one user friendly package covering :
  • Hong Kong Dollar (HK$) Current Account (cheque book will be available);
  • Multi - currency Account (including HK$, US$, EURO etc);
  • ATM Card;
  • Phone banking;
  • Internet Banking;
For personal individual
PowerVantage is an all-in-one user friendly package covering same function as BusinessVantage.
 Initial deposit, minimum bank account balance and monthly fee
For companies
  HK registered company BVI (or other offshore company)
Initial Deposit HK$ 5,000 HK$ 8,000
Bank Charge Nil HK$ 2,000
Total HK$ 5,000 HK$ 10,000
Minimum bank account balance
( monthly average )		 Monthly bank administrative fee
> HK$ 1,000,000 Nil
> HK$ 50,000 HK$ 40
< HK$ 50,000 HK$ 80
For personal individual
Initial deposit is HK$ 10,000.
Minimum bank account balance
( monthly average )		 Monthly bank administrative fee
> HK$ 200,000 Nil
> HK$ 10,000 HK$ 120
 BusinessVantage Account
For companies registered in Hong Kong (HK)
Please bring below when you're in HK
  • Original Passport;
  • Original Residential Address Proof - any utility bill, bank statement, ID card, driver licence with name and residential address on it (not more than 3 months old if it is utility bill);
  • Business Background Info
    • business card, contract etc that shows business background;
  • The form : BusinessVantage Account Opening Form
Bank Account Opening Form - Where to Sign
Being director, AND also authorized signatory to operate bank account - sign within "signature box" on Page 9;
Being director, AND NOT authorized signatory to operate bank account - sign within "signature box" on Page 10;
- and also sign as chairman on Page 13;
NOT director, BUT authorized signatory to operate bank account - sign within "signature box" on Page 9;
Being shareholder BUT NOT director, AND NOT authorized signatory to operate bank account - No need to sign on bank account opening form
- just prepare certified true copy of passport and residential address proof;

For companies registered offshore (such as BVI etc.)
  • Same as HK registered company PLUS Certificate of Incumbency or / and Certificate of Good-standing (if applicable);
 Personal Bank Account
  • Please bring below when you're in HK
    • Original Passport;
    • Original Residential Address Proof
      • any utility bill or bank statement showing address and name (not more than 3 months old);
    • Business Background Info
      • business card, contract etc that shows business background;
      • needs to give reason of why such personal bank account is required;
    • Initial Deposit to Bank Account
      • around HK$10,000. You can bring cash of any currency. If smaller amount is deposited, client needs to deposit within several days after account is opened;
  • Client can get account number, ATM card, Internet Banking immediately.
  • If client request our service in opening personal account, service fee is HK$1,000.
  • Time required is around 1 hour in the bank.
  • Suggest client to meet us in office and then we go to bank together.
  • Suggest client to send above doc by email / fax to us for preview;
 Cash management account opening procedure
For companies
Appointment should be made with HSBC Business Account Section;

    In the account opening meeting with HSBC :

    • All documents should be certified by HKCPA and be completely ready (HSBC does not accept signing first and documents submission afterwards);
    • Required personnel should all attend;
      • Directors sufficient for a quorum according to M&A should attend;
      • Shareholders holding 10% or more should attend;
      • Authorized signatory should attend;
    • Client should provide detail of the company¡¯s business;
    • Client should specify which corresponding address to use (can be different from company register address and can be overseas address);
    • Initial deposit should be ready;
    • Bank account number will be released to client within 7 days;
    • Client can use the account immediately for fund deposit but need to wait around 3 days for money withdrawal (when the bank account is formally opened).

    Around 2 weeks later :

    • PIN number for internet banking, ATM card, cheques book etc will be sent to corresponding address;
    • Client can then register the 1st stage of internet banking;
    • To activate internet banking, client should sign the acknowledge receipt and mail back to HSBC.

For personal individual
Appointment should best be made with HSBC ;

    In the account opening meeting with HSBC :

    • All documents should be completely ready (HSBC does not accept signing first and documents submission afterwards);
    • Client should specify which corresponding address to use (can be overseas address);
    • Initial deposit should be ready;
    • Bank account number, ATM card & card PIN, cheques book and phone banking PIN will be released to client immediately;
    • Client can use the account immediately for fund deposit and withdrawal;
    • ATM card should first be used and activated in Hong Kong. Otherwise, it cannot be used overseas.
 Trade account opening procedure

If client is in need of receiving L/C payment or going to pay by L/C, a trade account with HSBC is required. This can be done right after opening of cash management account.

Please note that :
  • Extra bank charges is required for opening of trade account;
  • Client needs to provide sample trade documents (trade agreement, invoices etc) in opening of trade account;
Client should note that as a new client to the bank, it is common for banks to ask for 100% cash / property security to issue L/C.
 Internet Banking
For companies
  1. Client will receive PIN number and security device (key-ring size password generator). Client can register via internet to activate the full function .
  2. To activate internet banking, client should sign the acknowledge receipt and mail back to HSBC.
Before activation of internet banking ,
  • Client can use written instruction (Fund Transfer Form) to transfer money globally, or
  • Use cheques to transfer money to 3rd party in Hong Kong.
For personal individual
For security reason, it is divided into 2 parts.
  • Part 1
    1. Client should register the internet banking via [ www.hsbc.com ] with ATM Card PIN / Phone banking PIN;
    2. Internet Banking Security Device (password generator) will send to client's corresponding address within 2 weeks;
    3. Part 1 internet banking is for balance enquiry and internal transfer only.
  • Part 2 (For global money transfer)
    1. Please download this form &sign : Internet Banking / Phonebanking / ATM Transaction Limit Revision Request Form
    2. After signerture. Please send back to HSBC to process.

For more "Internet Banking" operation information
Please refer to [ HSBC - Account Operation ] Section

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