- Yes, ZA is Chinese state owned/ controlled. No qualms here.
- WeLab has always advertised that it is a Hong Kong-based start up, and it is - it was founded by local Hongkongers who used to work at Standard Chartered Bank. I have no idea where you think the Chinese state influence comes in, although they do have funding from Alibaba entrepreneurs fund. But it is just one of many investors in WeLab, and start up funding is different from control.
- Mox is 65.1% owned by SCB, 25% owned by Richard Li and only 9.9% owned by CTrip. However, I'd say this 9.9% is probably more than whatever % of Chinese company/ govt owns in WeLab.
So I would say WeLab and Mox are the only non-Chinese start up VB's out there.
Their processes are clunky - I've had my own issues with them - but I still like like them.AVOID HSBC like the plague. Irrespective of whether they are good in your home country. They are shit here.
Don't think they are better in other countries - HK is where they are best - and in most other countries they have fewer services on offer.
These are reviews of their US retail bank - mostly 1* - a lot of very unhappy customers who had their accounts frozen for no good reason and having a hard time paying their bills:
Can someone give me some advice. I have recently moved to HK. Had an appointment this morning with HSBC to open an account.
I showed them my employment contract and visa (HKID appointment is in 2 weeks)
After 2 hours I got rejected with no explanation as to why? My credit rating is good in the UK and Australia but didn’t think global credit rating affected account opening in other countries anyway?
My employer has now suggested Standard Charter bank?
Just wondering what I did wrong?
Try again with paper HKID, which you'll get after your appointment in 2 weeks.
Fun experience at HSBC today being told they don't have appointment slots for days and a temporary HKID wasn't sufficient anyway.
I will be going to Citi tomorrow morning or Monday...