Frequently Asked Questions

Hong Kong residents who hold a Hong Kong Identity Card and have been assessed by The information will be updated on the official website of CCB (Asia) at that time.)

Submit your application, in person, at any CCB (Asia) branch to open a WMC “Northbound Scheme” remittance account; and bring your HKID Card, Mainland ID Card, and Mainland Travel Permit for HK and Macau residents, together with a China Construction Bank (CCB) Class I and/or Class II Debit Card, which can access the e-banking Services of CCB.

Applications to the WMC "Northbound Scheme" Service can be submitted at any CCB (Asia) branch in Hong Kong.

Applications are usually processed within 2 working days, a SMS message will notify you of the result. Thereafter, simply log-on to the CCB e-banking channel to complete the application process.

Yes, if it’s a domestic CCB Class I and/or II Debit Card account, applications can be submitted at any CCB branch located in any one of the 9 designated cities within the Greater Bay Area (GBA).

e-Banking channels must first be activated to complete the application process and to gain access to the WMC Products and Fund Transfer facilities.

For applications in person – 15 working days; for online applications – 7 days, upon receipt of the confirmation SMS message.

If you have not completed the application within 7 days upon receipt of the SMS confirmation message, the confirmation code will expire, and you will have to reapply for a new confirmation code at any CCB (Asia) branch.

No, you can’t. Each qualified WMC “Northbound Scheme” investor can only apply for one Hong Kong Remittance Account and one Mainland Investment Account. If you want to apply at another HK/Mainland Bank, you must cancel the original Remittance Account at CCB (Asia), and then cancel the Mainland CCB Investment Account.
From the date of upgrade of WMC on 26 Feb 2024, the individual investor quota will be RMB 3 million. If an investor chooses both a bank and a securities company for investment under WMC Northbound Scheme, the personal quota in the bank and securities company is RMB 1.5 million each. (Currently the individual investor quota provided by our bank is RMB 1.5 million. Our bank will roll-out enhancement service and accept customer’s request to increase the individual investor quota to RMB 3 million. The information will be updated on the official website of CCB (Asia) at that time.)

You will have to receive a “confirmation” SMS message to complete the application process online. The quickest processing time is 2 working day, provided all the required information submitted is complete and correct. So please be patient.

Currently customers need to open a new RMB account with CCB (Asia) as the dedicated remittance account for WMC Northbound Scheme. Our bank will roll-out enhancement service, customers can designate their existing RMB account with CCB (Asia) as the dedicated remittance account. Under the circumstances that do not involve cross-boundary remittance with Mainland account (except for the fund transfers under WMC Northbound Scheme), the dedicated remittance account may be used for other banking services outside the Northbound Scheme.

No, you can’t; under the WMC, all cross-boundary fund transfers must be made in Renminbi only. The exchange of Funds should be completed in the offshore market.

Funds are not automatically credited in real time. Once funds are successfully remitted to a customer’s Investment Account in the Mainland, processing will occur manually. CCB (Asia) will process said funds, typically, within 1 working day. Cross-boundary clearing of WMC Funds is realized via the CIPS System, so, no intermediary Bank is required, therefore, the clearance time will be significantly reduced, and the funds will be released as soon as possible at branch level. All remittance fees related to the WMC “Northbound Scheme” are currently waived until further notification.

The cancellation of a WMC “Northbound Scheme” Account must be done by yourself, in person. You must first visit the CCB branch (Mainland) to cancel the WMC “Northbound Scheme” designated Investment Account; thereafter, visit the CCB (Asia) branch to cancel the WMC “Northbound Scheme” designated Remittance Account. This procedure must be undertaken by the ‘qualified’ customer only and may not be undertaken by any other person.

For more detailed information, please visit our CCB websites (Mainland / HK / Macau), enquire at any of our branches, or call our Hotlines at: +852 27795533 / +86 (20) 95533 / +86 (755) 95533 – for further details.

You can apply for the WMC “Southbound Scheme” if you are residents of the nine Mainland cities in the GBA, or have paid social security or individual income tax for 2 consecutive years, have more than 2 years of investment experience and meet the monthly balance of household financial net assets of no less than RMB 1 million in the last 3 months, or the monthly balance of household financial assets of no less than RMB 2 million in the last 3 months, or the average annual income of the individual of no less than RMB 400,000 in the last 3 years; and are assessed as not being a “vulnerable customer” by Hong Kong banks.

• Review the qualifications of “Southbound Scheme” participants (refer to the above)
• Check that the status of the CCB account to be paired is normal
• Spot assessment on whether the investor qualifies as a “vulnerable customer” with observable disabilities (i.e. visually impaired, hearing impaired, intellectually impaired)

Applications to the WMC "Southbound Scheme" Service can be submitted at any branch in Greater Bay Area after qualification review via the attestation option; or apply in person at CCB (Asia) branch in Hong Kong.

After you have completed the WMC “Southbound Scheme” application at a CCB branch within the GBA and submitted the document online via the CCB (Asia) online channels, you will receive a “confirmation” SMS message within 3 working days, provided all the required information submitted is complete and correct. Thereafter, you can log-on to the CCB (Asia) e-banking channel to use the “Southbound Scheme” Service.

Please hold a Mainland Resident ID card, address proof, household registration or social security certificate and asset proof (for details, please consult with the Mainland CCB) for qualification review and open a remittance account at the Mainland CCB. You can also open a new “investment account” in CCB (Asia) by attestation and apply for WMC “Southbound Scheme” Service.

The “WMC (Southbound Scheme) Qualification Review Confirmation Letter" is valid for 20 days from the date of review.

If you choose to open an account by attestation, you can submit the e-form in advance through our online channels. You only need to select the "WMC Account Opening" function under the “Guangdong-Hong Kong-Macao Greater Bay Area- Cross-boundary Wealth Management Connect Scheme " menu on our website, and then agree to the risk warning. Select the “WMC Account Opening " function to pre-fill the information and then go to a designated branch of Mainland CCB to complete the account opening by attestation.

If you choose to go to our branch in person to apply for an investment account under the WMC “Southbound Scheme”, you can submit an e-form in advance through our online channels and go to the Mainland CCB to provide qualification review materials so that our CCB staff can review the investor’s qualifications. If you pass the review, you will receive the "WMC (Southbound Scheme) Qualification Review Confirmation Letter". After you receive the confirmation SMS or email, please bring along the "WMC (Southbound Scheme) Qualification Review Confirmation Letter" and related documents to the CCB (Asia) branch to complete the required procedures.

Customers must go to the Mainland CCB branch in the Greater Bay Area to apply for WMC “Southbound Scheme” within 30 days after filling in the e-form.

Each qualified WMC “Southbound Scheme” investor can only apply for one Mainland Remittance Account and one Hong Kong Investment Account.

No, under the WMC, all cross-boundary fund transfers must be made in Renminbi only. The exchange of funds should be completed in the offshore market.

Remittances from the Mainland bank to the Hong Kong WMC multi-currency savings account are real-time and automatically credited. (Except for during special circumstances, such as total quota or personal quota excess, abnormal account status, etc.) All remittance fees related to the WMC “Southbound Scheme” are currently waived until further notification.

For more detailed information, simply visit our CCB websites (Mainland/HK/Macau), enquire at any of our branches or call CCB (Asia) hotline at +852 29038303 for further details.

Yes, any subscription, conversion and redemption of fund investment products can be carried out through CCB (Asia) e-banking channel. You can also visit CCB (Asia) branch to handle any fund investment transactions, and the ordering process may be recorded in accordance with compliance requirements. The minimum investment amount is the equivalent of HK$10,000.

No, you can’t. The funds in the WMC multi-currency savings account can only be used for cross-boundary WMC remittances and trading of cross-boundary WMC investment products (i.e., cross-boundary WMC eligible fund products, deposit products). Other transactions are not allowed, such as no cash withdrawal/fund transfer/FPS/payment of bills, etc.

You can go to the CCB (Asia) branch to submit an application for cancellation of a WMC “Southbound Scheme” Account. At present, the cancellation of a WMC account must be done in person and may not be undertaken by any other person.