Frequently Asked Questions: Accounts
Saving Account
Checking Account
Time Deposit
Premier Banking
Wise Banking
Value Added Payroll Service
 |
Who is eligible to join the Value Added Payroll Service? |
|
Is there any joining fee or annual fee for joining the program? |
|
What are the benefits I can enjoy as a Value Added Payroll Service customer? |
Dormant Account
|
What is a dormant account? |
|
Why is a dormant account undesirable? |
|
Will there be any charge on a dormant account? |
|
How to avoid having a dormant account? |
Saving 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 MOP100 per passboook.
What is the minimum initial deposit?
For MOP/HKD Savings Account, the minimum initial deposit is MOP/HKD1,000. For Renminbi Savings Account, the minimum initial deposit is RMB1,000. For Foreign Currency Savings Account other than Renminbi, the minimum initial deposit is HKD3,000 or equivalent.
Can I deposit cash in foreign currency? If yes, do you accept all kinds of foreign currency in addition to HK Dollars?
Yes, we accept cash deposit of the following major currencies - Renminbi and US Dollar.
Do I need to pay any handling fees for foreign currency cash deposit? How much will that be?
Yes, you need to pay a handling fee for depositing US Dollar or Renminbi in cash. For details, please refer to the Schedule of Service Fee.
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, HK Dollar or US Dollar banknote 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 on your monthly statement. Plus, you will be given a transaction record whenever you deposit or withdraw money.
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 Dormant Account section.
| Top |  |
Checking Account
Can I have a 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 subbranches, what else can I do to ensure there are sufficient funds in my checking account?
You may logon to our Online Banking for balance enquiry.
How much is the initial deposit for opening a checking account?
The initial deposit for a MOP checking account is MOP2,000; while for an HKD checking account, it is HKD2,000.
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.
| Top | |
Time Deposit
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 subbranch (the subbranch where you have your account) or using our Online Banking Service.
Is there any handling fee if I want to close my time deposit by issuing a Cashier's Order?
If the cashier's order is made payable to the depositor of the time deposit, no handling fee will be charged.
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 MOP and HKD time deposits, the tenors are: 1 day, 1 and 2 weeks, 1, 2, 3, 6, 9, 12, 18 and 24 months. For Renminbi time deposits, the tenors are 1 and 2 weeks, 1, 2, 3, 6 and 12 months. The time deposit tenors for other major currencies range from 1 day to 12 months.
How much is the minimum initial deposit for 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.
Can I deposit notes in a foreign currency including Renminbi? Is there any handling fee for this?
You can deposit HK Dollar, US Dollar or Renminbi bandnotes for placing a time deposit. For details of handling charge, please refer to the Schedule of Service Fee.
| Top | |
Premier Banking
Is there any minimum deposit requirement?
Yes, you should have an initial combined deposit and investment balance of MOP1,000,000 to join Premier Banking and should maintain a daily average combined balance of MOP1,000,000 or equivalent each month.
Do I need to pay an annual fee?
No, you don't need to pay any annual fee.
How much will the Bank charge if my daily average combined balance of a month falls below the minimum requirement of MOP1,000,000?
A maintenance fee of MOP200 per month will be charged starting from the fourth month if daily average combined balance of a month falls below the minimum amount for 3 consecutive calendar months.
Is there any charge if I terminate my Premier Banking within the first 6 months of joining the service?
Yes, there will be a charge of MOP500.
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 preferential interest rate for MOP/HKD time and saving deposits, no-bounce check protection, discounts on insurance premiums, mutual fund subscriptions fee and securities trading, premier birthday treat, bonus point offer scheme 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 discuss your financial matters at our subbranches.
| Top | |
Wise Banking
What's the minimum amount for joining Wise Banking?
You should have an initial combined deposit and investment balance of MOP100,000 to join Wise Banking and should maintain a daily average combined balance of MOP100,000 or equivalent each month.
Do I need to pay an annual fee?
No, you don't need to pay any annual fee.
How much will the Bank charge if my daily average combined balance of a month falls below the minimum requirement of MOP100,000?
A maintenance fee of MOP100 per month will be charged starting from the fourth month if daily average combined balance of a month falls below the minimum amount for 3 consecutive calendar months.
Is there any charge if I terminate my Wise Banking within the first 6 months of joining the service?
Yes, there will be a charge of MOP150.
What are the benefits I can enjoy as a Wise Banking customer?
There are a lot of special privileges for Wise Banking customer, such as preferential interest rates for time deposits, no-bounce check protection, discounts on insurance premiums and mutual fund subscriptions fee, special birthday treat, bonus point offer scheme and special discounts on other banking services.
| Top | |
Value Added Payroll Service
Who is eligible to join the Value Added Payroll Service?
Customer who maintains payroll account with the Bank and his/her employer is making payroll payment to his/her account through the Bank's auto payroll service is eligible to join the Value Added Payroll Service. The minimum payroll amount is MOP8,000.
Is there any joining fee or annual fee for joining the program?
No, you don't need to pay any joining fee or annual fee.
What are the benefits I can enjoy as a Value Added Payroll Service customer?
Customer who joined the Value Added Payroll Service can enjoy a series of banking privileges including interest-bearing checking account, preferential time deposit rate, discount for insurance premium, mutual fund subscription fee and securities trading safe custody fee, preferential interest rate for loan products and waiver for first year ATM fee.
| Top | |
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. In addition, if customers do not keep us up-to-date of personal information, 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?
No charge on a dormant account.
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. |
| Top | |
|
||
|
||
|
|
||||
|
||||
|
-
Deposit Rate
EnquiryGo -
Exchange Rate
EnquiryLearn More