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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
Both
Minimum Monthly Balance Requirement
No minimum balance
Over the Counter Withdrawal fee
No fee
Other information
-
HSBC
Documents to support address
Address proof is not required for account opening, except for customers who wish to access investment services
Original Employment contract
Yes but not compulsory
Passport or HKID
It can be just one, also applies to non-permanent HKIDs
Minimum Monthly Balance Requirement
No minimum balance on HSBC One account
Over the Counter Withdrawal fee
No fee
Other information
The initial deposit is HKD2000. Customer is suggested to maintain a positive balance in the account. The letter from the Philippines/Indonesian or other country consulate endorsing the domestic helpers status is not compulsory.
Standard Chartered
Documents to support address
No proof of address needed
Original Employment contract
Yes
Passport or HKID
Both
Minimum Monthly Balance Requirement
No minimum balance
Over the Counter Withdrawal fee
No fee
Other information
-
Bank of China
Documents to support address
No proof of address needed
Original Employment contract
Yes
Passport or HKID
Both
Minimum Monthly Balance Requirement
No minimum balance
Over the Counter Withdrawal fee
No fee
Other information
-
Hang Seng
Documents to support address
No proof of address needed
Original Employment contract
Yes
Passport or HKID
Both
Minimum Monthly Balance Requirement
No minimum balance for ATM Statement Savings Account
Over the Counter Withdrawal fee
No fee
Other infomation
-
BEA
Documents to support address
No proof of address needed
Original Employment contract
Yes
Passport or HKID
Both
Minimum Monthly Balance Requirement
HKD10 for Savings account
Over the Counter Withdrawal fee
No fee
Other information
Annual ATM fee of HKD 50 per card
Resource & Materials
Useful Links
(ENG) Money Management Tools
Helpful resources from The Chin Family (Investor and Financial Education Council) to help manage your finances.

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