what is minimum deposit to keep saving account active?

[young707]

I have several Hong Kong dollar saving accounts (simple pass book) at these banks in Hong Kong.
I like to know what is the minimum deposit is require to keep these account active.

The banks are Hong Kong Bank, Hang Seng Bank, Bank of China.
Thank you.

[foxwendal]

10k to avoid monthly fee

[young707]

No, I do not mean the minimum balance to avoid paying account monthly fee.

I need to know when I am not in Hong Kong for a few years, I need to keep the accounts active to avoid these account to put into inactive. This happened to my accounts before, and I have to process setting up new account and take time to transfer the money over to the new account. And hassle to setting up all the auto-pay again from the new accounts.

I know I need to perform transaction, such as deposit some amount of money into these account to keep these account as "active". What is the right kind of minimum amount?

[foxwendal]

don’t think there’s a minimum in that sense but if you have less than 10k and away for a few years that’s already 2k-3k in such fees. and if your account doesn’t have the balance to pay the fees they’ll just close the account.

[shri]

Depends on the accounts. Smart vantage at hsbc has I think a 5k min, advance 200K etc.

Not all accounts are free and not all banks have the same mins.

[Elefant&Castle]

There is no minimum for activity - they just want to see you are still alive.

[shri]

There is no minimum for activity - they just want to see you are still alive.

Again, depends. There is a minimum for many if not most accounts to ensure you do not get charged a monthly fee, which can be significant for the mid-upper tier accounts, there may be fees, even for "passbook" accounts depending on the bank.

[MandM!]

You should have 1 transaction PER account per year at minimum. So you could transfer between HK savings and HK current hk$1 and that fulfils the quota. Then you have to do it for CNY and all accounts.

SCB is notorious for locking your account if you don't make any movement in 12 months. They send a letter in the mail about 10 months in though.

HSBC I saw something about fees if nonactive for 2-3 years.

Anyway just follow the 1 year rule to be safe.

[MandM!]

The only way to unlock a locked account is to appear in person. A pita.

[freeier]

all banks put account into dormant after you have not used it for maybe 6mths, or 12mths. not sure if there are charges.
most times the account can be activated again when you are trying to get some transaction done.

i have done unlocking over phones, or in person. really depends on individual bank and whether what you are trying to do is doable over the phone.