Banks

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  1. #1

    Smile Banks

    Hi
    I am moving to Hong Kong in July to teach at YCEF. I want to open a bank account with HSBC but have read in "Setting up in Hong Kong' that I will need a reference from someone in HK who has had a bank account with them for more than one year. Is this true?
    If so what is the best bank to get a current account with where I will quickly have keycards, cheque book etc?
    Thanks for your help


  2. #2

    Join Date
    Oct 2003
    Location
    peng chau
    Posts
    18

    You'll need a reference, if you don't have a HK ID card. I'm pretty sure that if you have a working visa, then you'll have to get a HK ID card shortly after arriving in HK. The whole process to get a temporary ID card took me about half an hour without an online reservation (and this was at floor 8 of Immigration Tower). (2 weeks to get the permanent Smart ID card after that.)


  3. #3

    Join Date
    Dec 2003
    Location
    CausewayBay, Hong Kong
    Posts
    179

    I recently opened with HSBC, I had the HK ID and opened an account with HSBC without a reference. The temporary card was enough to proof that you are living in HK, also you will need a hong kong address.


  4. #4

    Join Date
    Mar 2004
    Location
    Btn JP & UK
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    187

    offtopic: I got my HKSAR Passport now
    Woot!


  5. #5

    Join Date
    Mar 2004
    Location
    Btn JP & UK
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    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.

    Last edited by lazarus; 09-04-2004 at 10:44 AM.

  6. #6

    Join Date
    Mar 2004
    Posts
    29
    Quote Originally Posted by lazarus:
    offtopic: I got my HKSAR Passport now
    Woot!
    how you get a HKSAR Passport? which nationality you are?

    wpe

  7. #7

    Join Date
    Mar 2004
    Location
    Btn JP & UK
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    Wink

    My ID card has 3 Asterisks!

    I'm British/Chinese

    Why what are you?

    Last edited by lazarus; 09-04-2004 at 05:45 PM.

  8. #8

    Join Date
    Mar 2004
    Posts
    29
    Quote Originally Posted by lazarus:
    My ID card has 3 Asterisks!

    I'm British/Chinese

    Why what are you?
    My ID Card has 3 asterix too, but i am from austria.

    wpe


    www.wpe-engineering.com

  9. #9

    Join Date
    Mar 2004
    Location
    Btn JP & UK
    Posts
    187

    Kewl!


  10. #10

    Join Date
    Mar 2004
    Location
    Btn JP & UK
    Posts
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    Quote Originally Posted by lazarus:
    My ID card has 3 Asterisks!

    I'm British/Chinese
    Hmm...but if asked to choose. well then, i would probably give up my british nationality. I'm proud to be chinese.

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