Standard Chartered Business account

  1. #1

    Standard Chartered Business account

    I recently opened a Standard Chartered Business account in order to get a merchant account with them (which I am told is the only bank account I can use with Payment Express here in Hong Kong - which my software requires). Any opened the account and deposited my initial capital.

    Went to apply for a credit card for the account and they said you had to have the bank account running with them for 3 years before considering you for a card - I was very surprised wondering how you could operate a business for 3 yrs without a card. Either way thought if push came to shove I could use my HSBC business card.

    Upon applying for a merchant account, over the phone, I'm then told the same applies for a merchant account!!!

    Is this right? And if so has anyone managed to get around it as I don't really have the time to keep switching accounts etc.

  2. #2

    Join Date
    May 2005
    Sai Kung

    I've run my own businesses here for 5 years and have never had or bothered applying for a business credit card. I know that doesn't really help but no credit card is certainly not a show stopper.
    Posted via Mobile Device

  3. #3

    The Credit Card wasn't the biggie, I rarely use my business card for my existing company, however the merchant account is pretty essential, imagine someone opening a shop and then told they can't take electronic payment for 3yrs, must be a way around it.

  4. #4

    Join Date
    Jan 2004
    Discovery Bay

    Perhaps that is just what they tell every new client who applies and may actually offer you the card a month or two (or further down the line) from when you start to actively use the account.

  5. #5

    Join Date
    Oct 2010

    Question. we are going to open a company account in HK. we currently have a HSBC account and hate that only 3 months of transaction history is stored online, and that i cannot download in to quicken or MS money for accounting. Anyone here use Standard charter for their business banking and if so, how long do they keep the transaction history online? and also can you download the details in to an accounting software. Or if there are other banks that we dont know about that are good and work this way. many thanks.