Savings Account
What can I do if I lose my passbook? Is there any charge for replacement?
You can simply report the loss to us and we will arrange
for the replacement. The replacement fee is MOP50 per
passbook.
What is the minimum initial deposit?
For MOP Savings Account, the minimum initial deposit
is MOP1,000. For HKD Savings Account, the minimum is
HKD1,000. For Renminbi Savings Account, the minimum
is RMB1,000. For Foreign Currency Savings Account other
than HKD and Renminbi, the minimum is HKD3,000 equivalent.
Can I deposit cash in foreign currency?
If yes, do you accept all kinds of foreign currency?
Yes, we accept cash deposit of the following major currencies
- Renminbi, US Dollar and Hong Kong Dollar.
Do I need to pay any handling fees for foreign currency deposit? How much will that be?
Yes, you need to pay a handling fee of 0.25% of the
deposit amount or a minimum charge of MOP50, whichever
is higher.
What types of foreign currency savings accounts are available in your bank?
There are Passbook and Statement Savings accounts for Renminbi
and Passbook, Statement Savings and Multi-Currency Statement
Savings accounts for other currencies.
Can I withdraw cash in foreign currency from my foreign currency savings account? Are there any restrictions?
Yes, you can withdraw RMB banknote from the Renminbi
deposit account and HKD and USD from the foreign currency
savings account. Both are subject to the availability
of banknotes of the related currencies.
What is the difference between a Passbook & a Statement Savings? Which one would be more recommended?
The difference between a Passbook Savings and a Statement
Saving is the means of recording banking transactions.
Passbook Savings use a passbook to record all the transaction
history and Statement Savings use the statement to record
the monthly transactions. Statement Savings would be
more recommended as you can see all your transactions
at the same time on your monthly statement. Plus, you
will be given a transaction record whenever you deposit
or withdraw money - to help you with your records between
statements. Also, there is no restriction on the Statement
Savings with regard to withdrawals - whereas, with the
Passbook Savings, if you forget to bring your passbook,
you'll be unable to withdraw cash at the teller counter.
How often do I receive a statement?
You can receive it once a month.
What will happen if there is no activity in my savings account?
If there is no activity in the account (other than transactions initiated by the Bank, such as interest and charges) for 12 months, the account will be classified as a dormant account. For details, please refer to the section on Dormant Account.
Checking Account
Can I have temporary checkbook when I open a checking account? How long will it take to receive my ordinary checkbook?
Yes, we will issue a temporary checkbook to you upon
account opening and your checkbook will be issued within
5 working days after account opening.
Besides going to the Branches, what else can I do to ensure there are sufficient funds in my checking account?
If you want to check whether there are sufficient funds
in your checking account, you can do so through our
Online Banking or Bank By Phone.
How much is the initial deposit?
The initial deposit for a MOP checking account is MOP2,000
and for a HKD checking account is HKD2,000.
Is there a handling charge if the
balance falls below MOP2,000 or HKD2,000?
There is no handling charge if your checking account
balance is below MOP2,000 or HKD2,000. However, if your
account has no transactions for a year, it will be classified
as dormant and you have to pay MOP100 or HKD100 per
quarter as a maintenance fee.
What will happen if there is no activity in my checking account?
If there is no activity in the account (other than transactions initiated by the Bank, such as interest and charges) for 12 months, the account will be classified as a dormant account. For details, please refer to the section on Dormant Account.
Time Deposit
How many tenors for a call deposit can I choose from?
We have two tenors to choose from for your convenience: 24 hrs or 7 days notice.
Can I open a call deposit with the initial deposit below the minimum requirement?
No, you can't. Our initial deposit is MOP/HKD50,000
or USD5,000. If your initial deposit is below our minimum
requirement, you can consider to open a savings account
instead.
Can I withdraw the call deposit by giving a shorter notice than required? Is there any penalty charge for this?
If you withdraw the call deposit by giving a shorter notice, you cannot earn the interest for the entire period as there will be a penalty of interest deduction.
Is there any penalty if I want to
withdraw money from the Call Deposit before the maturity
date?
Yes, the interest earned during the deposit period will
be forfeited and an early withdrawal penalty (min. MOP150)
will also be charged.
Can I renew my time deposit over the
phone? Or can I do it online?
Yes, you can renew the time deposit by calling the
domicile Branch (the Branch where
you have your account) or using our Online Banking
Service or our Bank By Phone.
Is there any handling fee if I
want to close my time deposit by issuing a Cashier's
Order?
There is a handling fee of MOP50.
Can I open a Renminbi Time Deposit?
Yes, but a Renminbi Passbook Savings or Statement
Savings account has to be opened before time deposit
placement as the funds of the time deposit must be
originated from the Renminbi deposit account.
What are the tenors offered for
Time Deposit?
There are a variety of tenors from which you can choose
depending upon your need. For HKD time deposits, the
tenors are: 1 day, 1 and 2 weeks, 1, 2, 3, 6, 9, 12,
18 and 24 months. For Renminbi deposits, the tenor
is 1, 2 and 3 months. The tenors for other currencies
range from 1 week to 12 months. For Monthly Interest
Time Deposit, the available tenors are from 6-24 months.
How much is the minimum initial
deposit for MOP/HKD Time Deposit, Foreign Currency
Time Deposit and Monthly Interest Time Deposit?
The minimum initial deposit for MOP/HKD Time Deposit
is MOP/HKD10,000, for Renminbi Time Deposit is RMB10,000,
for Foreign Currency Time Deposit is HKD30,000 equivalent
and for Monthly Interest Time Deposit is MOP/HKD500,000.
Can I deposit notes in a foreign
currency including Renminbi? Is there any handling
fee for this?
Yes, the fee is 0.25% of the deposit amount, minimum
MOP50.
Prime-Linked Savings
How can Prime-Linked Savings offer me greater benefit?
Prime-Linked Savings is an unique savings plan offering
you a higher interest rate than a regular savings with
interest compounded monthly. Deposit rates of the plan
are linked to the Bank's best lending rate (Prime Rate)
so they will change when the Prime Rate moves.
Can I withdraw part of my deposit before the maturity date?
No, partial withdrawal is not allowed.
Can I increase/decrease my monthly instalment amount?
No, monthly instalment amount once fixed cannot be changed during
the tenor.
Is late deposit of the monthly instalment
allowed?
Yes, monthly instalment made after the scheduled payment
due date but prior to the next scheduled payment due
date can be accepted as late payment. However, the late
payment cannot be backdated to the original scheduled
payment date, and interest calculation on the late payment
amount will only commence from the actual date of receiving
payment.
Do I have to give notice to the Bank for early redemption of the entire deposit? Is there any penalty?
Yes, prior notice is required. For redemption of Prime-Linked
Savings deposits that have been established for less
than 3 months, no interest will be given and a service
charge of HKD150 will be levied. For account closed
beyond the initial 3-month period, the lower of the
Bank's regular savings rate on the account opening day
and the account closing day will apply to the entire
deposit balance.
Prime-Linked Time Deposit
How can Prime-Linked Time Deposit offer the greater benefit?
Prime-Linked Time Deposit offers you an alternative deposit service with interest rate linked to the Bank's best lending rate (Prime Rate). The interest rate will be adjusted whenever the Prime Rate changes, maximizing your interest return in the wave of rising interest rate. Also, the interest will be paid monthly and therefore you don't have to wait until the deposit matures to reap the benefits.
What's the difference between Prime-Linked Savings and Prime-Linked Time Deposit?
Prime-Linked Time Deposit offers a higher interest return as long-term interest rates are usually higher than short-term interest rates. The differences between Prime-Linked Savings and Prime-Linked Time Deposit are outlined as below:
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Prime-Linked Savings
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Prime-Linked Time Deposit
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Minimum Deposit Amount
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Initial Deposit
MOP/HKD3,000
Monthly Installment
MOP/HKD1,000
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MOP/HKD50,000
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Interest Rate
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Linked to Prime Rate and will adjust on the first business day of the month immediately following the month in which the Prime Rate changes
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Linked to Prime Rate and will adjust on the same day when Prime Rate changes
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Frequency of Interest Payment
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Interest will be accrued monthly but payable at maturity
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Monthly, customers can opt for receiving the interest by crediting to his/her designated account or capitalizing the interest collected to form part of the principal of the deposit to earn more interest
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How many tenors for a Prime-Linked Time Deposit can I choose from?
Deposit tenor can be fixed at 4, 6, 12, 18 or 24 months.
How can I receive the monthly interest of the Prime-Linked Time Deposit?
You can opt for receiving the monthly interest by crediting it to your designated account or capitalizing it to form part of the principal of the deposit.
Can I withdraw the deposit before the maturity date?
Not allowed. However, you will be offered a standby overdraft facility with special low interest rate that enables you to buy our investment or insurance products.
Premier Banking
Is there any minimum deposit requirement?
Yes, you should have an initial combined deposit and
investment balance of HKD1,000,000 to join Premier Banking
and should maintain a daily average combined balance
of HKD1,000,000 or equivalent each month.
Do I need to pay an annual fee for this packaged service?
No, you don't need to pay any annual fee.
How much will the Bank charge if my average aggregate daily balance falls below the minimum deposit requirement?
HKD100 per month as a maintenance fee will be charged.
What are the benefits I can enjoy as a Premier Banking Customer?
There are a lot of special privileges for Premier Banking
customer, such as a preferential interest rate for HKD
time deposits, no-bounce check protection, discounts
on insurance products and mutual fund subscriptions,
and special discounts on other banking services. Besides,
as a Premier Banking client, you will be assigned a
dedicated Client Manager responsible for assisting you
with any of your financial needs. You can also do your
banking in the way you find most convenient. You can
contact your Client Manager by phone or fax or you can
discuss financial matters in the comfort and privacy
of our exclusive Premier Banking Service Center.
Dormant Account
What is a dormant account?
Savings, Checking and other types of deposit accounts without
activity, other than transactions initiated by the Bank (such
as interest and charges), for 12 months will be classified
as dormant accounts.
Why is a dormant account undesirable?
The wise use of money is to avoid having a dormant account, as very little or no interest is earned if the balance in the dormant account is low. A small charge on dormant accounts will be levied by us because of the high costs to maintain them. There is less incentive for you to keep us up to date of personal information, and so notices or statements from us may be returned undelivered. As you may be less vigilant in monitoring transactions and reconciling statements, there is also a greater risk that the account may be tampered with.
Will there be any charge on a dormant account?
Yes. Dormant accounts with a deposit balance of less than
MOP/HKD/RMB2,000 or USD200 or equivalent, a quarterly service
fee of MOP/HKD/RMB100 or USD10 or its equivalent will be charged.
How to avoid having a dormant account?
- Review what bank accounts you have. Keep only those accounts you need, or better still, consolidate them to earn a better return on your accounts and avoid paying charges. Formally close any accounts that you don't need.
- Always notify us when there are changes to your personal information.
- Read your mail - don't ignore notices from us.
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