Open a Bank Account Online in Hong Kong

Once you open a bank account online, getting your bank statement is made incredibly easy, simply follow these three steps:

• Log on to the online banking using your ID and password
• Set up a one-time request by clicking on the ‘Request eStatement/e-Advice’ option in the main menu
• Once done, you shall receive a secure email informing you when the eStatement is ready to access
• You will receive a notification via mobile or email once the eStatement is issued

It is useful to keep in mind the Hong Kong banking procedures, nonetheless, when you open a bank account in Hong Kong, online convenience is a given.

If you are opening a bank account in Hong Kong for the first time, you will be prohibited from doing so online, due to the country’s strict anti-money laundering rules. Although, once you have a bank account and have set up online banking, you can then open a bank account in Hong Kong via the online route.

To open a bank account, applicants must make an appointment and attend the branch in-person. For banks that allow you to complete the online form in advance, you need to be ready with the following:

• An official ID document, such as your passport or HK ID card
• Proof of address documents: utility bill, bank statement or mobile phone bill
• For those without a HK address, the proof of address for your home country must be submitted
• A valid visa

As a bank account holder you will receive several benefits, please note that all banking services in Hong Kong are required to adhere to international standards. The product information should be accessible in English or Chinese languages.

Below are some of the benefits you will enjoy as a online bank account holder:

• No restrictions on foreign exchange remittances or funds transfers
• International trades settlement
• Unrestricted currency conversions: Holders can engage in multi-currency transactions including USD, EUR, GBP, HKD, RMB, AUD, CAD, CHF, DKK, GBP, JPY, NOK, NZD, SEK and SGD
• Ease and convenience of daily account operation
• Secure online transactions: Account holders can make payments using online platforms such as Paypal. These can be connected to your bank account.
• Availability of secure trade financing
• As an option, holders can also apply for a Debit MasterCard

The most common personal banking accounts in Hong Kong include checking, savings and multi-currency accounts. What’s more, account holders can link a credit card or an EPS card with their bank account. The Electronic Payments System card (EPS) acts like a debit card. Other than personal accounts, holders can open business accounts as well. Applicants are required to present the following:

• Proof of Identity: Director ID, Hong Kong ID or Passports
• Proof of address: rental lease or property licence
• Business documents: Registration, Certification of Incorporation, M&A and register books
• Proof of business existence (for those operational over six months): contracts, supplier invoices, client payments

The Hong Kong authorities allow everybody to open a bank account,regardless of whether you are a resident or non-resident. Foreigners intending to open a bank account in Hong Kong may be subject to additional requirements for verification and identification. However, you do not need to be a permanent HK resident to have a bank account in Hong Kong. The process is straightforward, especially if you are an EU, US or Australian passport holder. And for others, the documentation and process timings are different.

Ultimately each bank has different evaluation criteria for reviewing your application, we’ve listed the application conditions below:

• The applicant does not need to be physically present in Hong Kong when opening a bank account
• To open a business bank account, the candidate must be able to demonstrate the business scope and services using the company website
• You are required to answer a few standard questions, there is no need for any complex or in-depth supporting documents.