What are the requirements if I want to open a bank account here in Hong Kong?

It is ideal for you to open a separate bank account when you arrive in Hong Kong to help you manage savings and avoid the temptation to spend money. A separate account also means that your employer can directly deposit your salary. If you intend to open one, discuss how to go about doing this with employer as you may need some documents from them, such as proof of address and a copy of your contract. Remember that different banks have different requirements to open a new account. 

Although we do not recommend any particular bank, here is a comparison of different banks and their requirements so that you can make your own decision about the best option for you.

 

Citibank
Documents to support address
Both HK and home country address need to be verified an utility bill, bank statement or similar document
Original Employment contract
No
Passport or HKID
Either
Minimum Monthly Balance Requirement
HKD10000 otherwise HKD100 charge
Over the Counter Withdrawal fee
HKD 20
Other information
-
HSBC
Documents to support address
Address in the Original Employment Contract is acceptable
Original Employment contract
Yes
Passport or HKID
Both
Minimum Monthly Balance Requirement
No minimum balance on Personal Integrated Accounts
Over the Counter Withdrawal fee
No fee
Other information
The initial deposit is HKD2000.The letter from the Philippines/Indonesian or other country consulate endorsing the domestic helpers status must also be produced.
Standard Chartered
Documents to support address
No proof of address needed
Original Employment contract
No
Passport or HKID
Either
Minimum Monthly Balance Requirement
HKD10000 otherwise quarterly charge of HKD 120
Over the Counter Withdrawal fee
No fee
Other information
-
Bank of China
Documents to support address
Address in the Original Employment Contract is acceptable
Original Employment contract
Yes
Passport or HKID
Both
Minimum Monthly Balance Requirement
No Minimum
Over the Counter Withdrawal fee
HKD 20
Other information
HKD1000 needed at the account opening date
Hang Seng
Documents to support address
Address in the Original Employment Contract is acceptable
Original Employment contract
Yes
Passport or HKID
Both
Minimum Monthly Balance Requirement
HKD10000 otherwise HKD60 charge
Over the Counter Withdrawal fee
HKD20
Other infomation
-
BEA
Documents to support address
Address in the Original Employment Contract is acceptable
Original Employment contract
Yes
Passport or HKID
Either
Minimum Monthly Balance Requirement
HKD5000 otherwise charges apply
Over the Counter Withdrawal fee
No fee
Other information
Annual ATM card fee of HKD50