Summary of "Account Management Fee + Transfer Handling Fee" for Hong Kong bank accounts, recommended to collect!

Hong Kong offshore accounts enjoy a unique position with thePrivileges of immunity from exchange controlbe able toMulti-currency account supportthe establishment of the organization, and to provideFlexible and unlimited collection solutionsThe

For the conduct ofOverseas InvestmentYesDemand for offshore travelThe advantages of a Hong Kong account are particularly significant for individuals who are not only more convenient to operate, but also more efficient in terms of service.

This article elaborates on the administrative fees and transfer fees of major banks in Hong Kong for your reference and is expected to be of help to you.
01

Fees and Charges of Major Banks in Hong Kong

HSBC, Hong Kong

• Account Management Fee: Free;
• RMB Telegraphic Transfer to HSBC in Mainland China: Free of charge;
• Other Outward Telegraphic Transfer: HK$50/transaction;
• Through HSBC branches: HK$200 per transaction;
• Payment made through the [Transfer Express] system: HK$8 per transaction;
• Payment via [Instant Payment Settlement System]: HK$55 per transaction;
• Transfer Limit: Maximum limit 300W/day.

Standard Chartered Bank, Hong Kong

• Account Management Fee: No management fee for the first six months;
• Local transfers: free of charge;
• Online Internet Banking remittance: HK$120-150 per transaction;
• Offline branch remittance: HK$120-170 per transaction;
• Daily Transfer Limit: HK$100W;
• FPS amount: 20W;
• CUP ATM daily cash withdrawal limit: HK$2W.

Bank of China (Hong Kong)

• Account Management Fee: No management fee;
• Telegraphic Transfer: HK$240/transaction for branch processing, HK$65/transaction for internet banking transfer;
• Transfer to BOC Same Name in Mainland China (via BOC Express): Handling fee waived;
• Daily Limit: HK$100W equivalent;
• ATM cash withdrawal: HK$8W equivalent.

Hang Seng Bank, Hong Kong

• Account Management Fee: Semi-annual account management fee is waived;
• Mainland to Hong Kong: 200W RMB equivalent foreign currency per day for registered accounts;
• Hong Kong Transfer: 150W HKD equivalent foreign currency per day for registered accounts;
• 40W HKD equivalent foreign currency/day for unregistered accounts;
• Remittance Handling Fee: Charged at 0.1% of the remittance amount, with a minimum of RMB100/equivalent and a maximum of RMB500/equivalent per transaction;
• Telegram fee: RMB 120/equivalent.

Overseas Chinese Bank, Wing Hang

• Account Management Fee: 1st year exempted, 2nd year total funds less than HKD100W, HKD200/month;
• Inward remittance: HK$65-100 per remittance;
• Outward remittance: HK$115 per transaction, subject to bank policy;
• Note: An account transfer in the same name is required to activate the account after it is placed.

CITIC Bank (International)

• Account management fee: none;
• Handling fee for local bank transfers in Hong Kong: None;
• Remittance Handling Fee: 1‰ of the remittance amount (minimum 20 RMB/transaction, maximum 250 RMB/transaction);
• Remittance Telegram Fee: 80 RMB/transaction for Hong Kong and Macau, 100 RMB/transaction for other areas;
• Hong Kong and mainland cross-border remittance: HK$80 or above;
• Mainland Cash Withdrawal Limit: Maximum 2W HKD equivalent foreign currency limit per day (does not take up foreign exchange limit);
• Transfer Limit: HK$100W/day.

02

How to open a Hong Kong Personal Account?

At present, there are two ways to open a personal account with a Hong Kong bank: opening an account in Hong Kong and witnessing the opening of an account in the Mainland.

👉 Cross-Harbor Account Opening

For mainlanders who are able to travel to Hong Kong conveniently, visiting a Hong Kong bank branch in person to open an account requires simpler information, faster processing speed, and there are relatively more banks to choose from.

Information required to open an account across the harbor:

• Identity card (valid for not less than 6 months)
• Hong Kong and Macau Travel Permit/Passport (valid for not less than 6 months)
• Transit ticket (obtained at customs)
• KYC Forms

👉 Mainland Witness Account Opening

Some Hong Kong banks offer Mainland witness account opening services, allowing customers to open accounts remotely at domestic branches or law firms, but not all banks support this service and there are certain conditions to be met. 

Information required for witnessing account opening in the Mainland:

• Identity card (valid for not less than 6 months)
• Hong Kong and Macau Travel Permit/Passport (valid for not less than 6 months)
• Deposit 500,000 for three months
• KYC Forms.

💡 Notes:As bank policies may change at any time, you are welcome to contact Hop Fung Group for the latest account opening policies and Hong Kong bank account information.

03

How to maintain a Hong Kong bank account?

After opening a bank account in Hong Kong, in order to avoid the situation where the account is frozen, you should pay attention to the maintenance of your Hong Kong account to avoid being suspended from using the card.
The following suggestions can be referred to

1) Keep your account active (it is recommended to log in to your internet banking at least 1-2 times a month);

2) 1-3 transactions in three months, transferring from a savings account to a current account, or currency conversions;

(3) Maintain the amount of deposits that the account is required to maintain;

4) It is not recommended to move money in and out quickly;

5) Do not collect or settle foreign exchange for others;

6) Not to receive loans from sensitive countries.

The above is the content of "Hong Kong Bank Account", hope it is helpful to you.

If you have the need to open a bank account in Hong Kong or have any other questions, please feel free to contact us!