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 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
- 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
Resource & Materials
