HK bank account FAQ
What type of card i get?
You have to Top-Up your Card before using it. It does not provide any credit, which means you cannot get into debt or be charged any overdraft fees.
What is the base currency of the account?
You can receive payments in any currency but these funds will be automatically converted in HKD at the Standard Chartered rates.
What type of companies can sign up
Companies operating in the below industries are not able to open an account. If you are unsure whether your company is considered any of the below, please contact us.
Adult Industry
Arms Dealers
Antique Dealers
Auctioneers
Cryptocurrency Companies
Defence system
Foreign Exchange Companies
Gambling Companies / Casino
Jewel / Gems / Precious Metals Dealers
Nuclear Power
Pawn Shops
Plane Dealers
Pyramid selling
Stock Securities Companies
Products / services illegal under Hong Kong law
Can anyone open a bank account?
To open a HK Bank account you and your company need to meet the following requirements:
Limited company incorporated in Hong Kong* or sole proprietor
Directors and shareholders cannot be nationals of the following countries:
Your company is not involved in any of these industries.
Adult Industry
Arms Dealers
Antique Dealers
Auctioneers
Cryptocurrency Companies
Defence system
Foreign Exchange Companies
Gambling Companies / Casino
Jewel / Gems / Precious Metals Dealers
Nuclear Power
Pawn Shops
Plane Dealers
Pyramid selling
Stock Securities Companies
Products / services illegal under Hong Kong law
It is not necessary for directors and shareholders to:
Be a Hong Kong resident
Have a Hong Kong ID
Be physically present in Hong Kong for account opening; the application is done online.
What documents do I need to open an account
- A Valid Business Registration Certificate (BR)
- Passport of all the directors
- Passport of all shareholders who own 10% or more of your company
- Board Resolution (this can be generated from within our sign up form)
We obtain all other company documents directly from the companies registry. We may require additional documents, such as the business plan, We will follow up with you should we need further information.
Can I open an account if I am not in Hong Kong?
Application is done entirely online and can be completed from anywhere in the world. You do not need to be physically present in Hong Kong or have a Hong Kong ID.
How long does it take?
It takes around 15 minutes to fill out the online application form. After that, in most cases, it will take around one week for us to conduct our due diligence.
Occasionally the due diligence process may take longer for several reasons, for example:
– We may need additional documents
– The documents you submitted are invalid
– Your company’s shareholders are companies incorporated in other jurisdictions
How much is the business card subscription fee?
The subscription fee is 60 HKD per card/month
What are the Mastercard limits?
Tier 1 (Mastercard limit)
You will be in tier 1 after card activation
Please note there is a difference between your account limit and Mastercard limit. The account limit will be determined based on your type of business and expected volumes and will be sufficient for most startups and SME’s.
Tier 2 (Mastercard limit)
You will be automatically upgraded to Tier 2, 3 working days after card activation
Please note there is a difference between your account limit and Mastercard limit. The account limit will be determined based on your type of business and expected volumes and will be sufficient for most startups and SME’s.
Tier 3 (Mastercard limit)
In order to be upgraded to Tier
Please note there is a difference between your account limit and Mastercard limit. The account limit will be determined based on your type of business and expected volumes and will be sufficient for most startups and SME’s
Where can I use a Card?
You can use your Card online and offline, in over 50 currencies, anywhere in the world where MasterCard® is accepted.
How many cards can we get?
There is no limit on how many cards you can get for your business.
When can I receive my Card?
We send out all cards via Hong Kong Post (apart from postage to China).
To calculate the shipping time to your shipping address, please go to the following link:
https://www.hongkongpost.hk/en/postage_calculator/
1) Select the Destination
2) Enter 0.04 kg as the Weight
3) Select Tracking
4) Click Submit
5) Refer to Air Registered Mail (Large Letter)
As it takes around 2-3 business days for us to approve your application.
Can I receive payments from e-commerce platforms?
Yes, you can receive money from e-commerce payment gateways such as Stripe, PayPal or Amazon.
To what countries can I send money?
You can send funds to the following countries:
AUSTRALIA
AUSTRIA
FRANCE
GERMANY
ITALY
SINGAPORE
SPAIN
THAILAND
THE NETHERLANDS
UK
USA
We will add more country soon
Can I receive international payments?
Yes, you can receive funds in other currencies. Each customer gets their own unique bank account number and SWIFT to receive (international) payments
At the moment, payments received in other currencies will be converted to HKD.
Business Features.
Dedicated Hong Kong bank account number
FREE
Account opening and maintenance
FREE
iOS and Android app
FREE
Expense management with real-time notifications
FREE
Multilingual customer support
FREE
Cards
Prepaid MasterCard
HK$60
PER CARD / MONTH
Transaction Refund
HK$4
Card Replacement
HK$50
ATM Withdrawal
2%
HK$25 MINIMUM FEE
Foreign Merchant Fee*
1.5%
Inactivity Fee**
HK$12.5
MONTH
** Inactivity fee will be charged after 6 months of consecutive inactivity. No inactivity fee will be charged if the balance is ZERO.
Outgoing Payments.
Payment to Personal Card
FREE
Next business day
HK$30
Same business day
HK$60
International Payment
HK$90
Incoming Payments
Standard Payment from Hong Kong bank account
FREE
Express Payment from Hong Kong bank account
HK$15
International Payment
HK$50
ADDITIONAL SERVICE (exclusively by corporation china): China Trademark Dispute Experts
Trademark Dispute analysis and defense
If you are discontented with the rejection of your registration, you may file for a rejection review with the Chinese government to regain your chances for accomplishing the registration process.
Filing Trademark dispute
These reports can provide you with a comprehensive protection for your trademark that can allow you to evade unnecessary litigations and disputes.
File Trademark dispute
You may file for opposition on other’s registration, under legal grounds, with the trademark office to prevent confusion and infringement.
Are You Ready
To Start Your Business In China?
Get a FREE Consultation with Corporation China lead Company formation experts
SHANE FU
Senior Legal Constant
Shane is an Authority on International Trade, Trademarks and Visa He has a Legal and Accounting background
He speaks Perfect English and Chinese
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Shanghai
