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Corporate bank account, which bank?

  1. #1

    Join Date
    Jun 2016
    Posts
    8

    Corporate bank account, which bank?

    Hello,

    I need to open bank account for a small business that I run. Which bank would you recommend and why?

    Thanks.
    Oli


  2. #2

    Join Date
    Sep 2015
    Posts
    54

    My post may have no value - as I finally got an acct opened a few months ago. 1-2 years back, banks would not open accounts for businesses registered to non-HK citizens, and even citizen-run businesses had a hard time: need to show the location, have them visit that loc, talk to employees... Then, somehow, we just got an application approved by HSBC. I know a few foreign-manned startups using HSBC - they give a multi-currency acct. and their operations seem to be manageable through the website or in-person, although, lines can be huge ... The fee is standard, I guess. I think you can apply to multiple banks and see which one(s) come through. Some I think refund app fee if you're turned down or walk away w/o completing the process

    Oliver1977 likes this.

  3. #3

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    25,326

    If you can get your account approved, I'd second the recommendation for HSBC.

    If I were you, I'd go to a specialist commercial branch. (Wanchai Emperor Ctr for example) and not into a retail branch, or the head office.

    Oliver1977 likes this.
    Have a GeoExpat related problem - please create a support ticket.

  4. #4

    Join Date
    Dec 2018
    Posts
    342

    FWIW, we used BOCHK and the account opening process (several years ago) was fairly painless. It helped that we were already personal customers of BOCHK.

    On the other hand, DBS is not recommended. Their IDEAL on-line system was unusable for me - in spite of a ridiculous amount of time spent with their hapless helpline and having the whole thing reset + new security token issued I was never able to actually login. DBS is the only bank or other financial organisation that I have had these problems with.

    Oliver1977 likes this.

  5. #5

    Join Date
    Jan 2018
    Posts
    1,059

    A second vote for BOCHK which took us when every other bank turned us down (I am a US citizen, doesn't help, partner is HK but also US and Canada citizen). Turned down as in would not even accept our application, just flat out "no."

    Oliver1977 likes this.

  6. #6

    Join Date
    Jul 2019
    Location
    Kwai Chung
    Posts
    3

    Hi Oli and ALL,

    One more vote to BOCHK, they now have branch & dedicated hotline for overseas enterprises / expatiates, where English speaking staff is available to guide you through the application process. Below with the links for you do the online application and check the information + documents required, hope this information suit you well, cheers.


    Online appointment making
    Information and documents required
    Branch(es) for opening accounts
    •Designated branch for opening accounts (overseas enterprise):
    Bank of China Tower branch, 1 Garden Road, H.K.
    •Hotline: (852) 3988 2288
    •Dedicated hotline for account opening of overseas enterprises:
    (852) 3988 2195

    ## New joiner in GeoExpt, wish to build some reputation and network here ^ ^
    ## pm me if you need further assistance.

    Oliver1977 likes this.

  7. #7

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    5,484

    Some business banking online banking have some serious bugs. My account I couldn't access my transactions for months. Finally they fixed it. Seems quite buggy. So guess you have to try and see if it works on your computer.

    Also some worked on Windows and not Mac. Very weird.

    Oliver1977 likes this.