HSBC offer a few different types of current accounts. There's the Standard Checking account with no monthly charge (no minimum to open this account) and a PowerAdvantage ($10,000 required) where monthly charges between $40-60 apply, it's free if your total assets is or exceeds ($100,000). There's also a Premiere account... but unless your crediting in excess of $100,000 per transaction, forget it!
The difference... Between a (Standard Checking & PowerAdvantage) The PowerAdvantage is a multifunction account where you can save both domestic and foreign currencies, have online banking, fone banking, buy and sell shares, have time deposits, basic accident insurance and if you have sufficient funds, you can have a secure loan! However, there's no interest paid on any of your funds in your current account regardless of how much you have, only available on your HK Dallor and Foreign savings. Erm...and the other advantage, when doing banking at the branch, you take the ticket for PowerAdvantage customers (normally this queue is one fifth of the checking account) and you have separate tellers, well i do in my branch
I did this recently: To open an account. You'll definitely need your HKID card, the number on it's own won't do! And either, a recent utility bill with your local address (less than 3 months old and must be in your name) If not, then you'll need to find a friend who's willing to be your referee... bearing in mind, he/she will be taking responsibility for any debts you run in to (it's in the small print), especially when buying and selling shares... Oh it's fun!
For a Visa card or Credit card, you must be employed full-time with regular income credited into your bank account.