{"id":81042,"date":"2020-09-28T06:59:16","date_gmt":"2020-09-28T06:59:16","guid":{"rendered":"http:\/\/staging.expatinfodesk.com\/?page_id=81042"},"modified":"2024-01-17T08:02:59","modified_gmt":"2024-01-17T08:02:59","slug":"banking","status":"publish","type":"page","link":"https:\/\/www.expatinfodesk.com\/destinations\/hong-kong\/banking\/main-banks\/","title":{"rendered":"Banking Guide – Hong Kong"},"content":{"rendered":"

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Banking Guide Hong Kong<\/h2>\n

Hong Kong has a three-tier banking system that is composed of deposit-taking institutions (licensed banks), restricted license banks and deposit-taking companies. As one of the the leading financial centres of the world Hong Kong has the highest concentration of banking institutions in the world.<\/p>\n

Seventy of the largest 100 banks in the world have operations in Hong Kong. According to estimates at the end of June 2013, there were 133 licensed banks, 13 restricted license banks and 24 deposit-taking companies doing business in Hong Kong.<\/p>\n

Hong Kong’s banking system is extremely efficient and international transfers are fast and reliable as there are few controls on foreign exchange movements. Transfers are presided over by the Hong Kong Monetary Authority.<\/p>\n

Banking hours are typically 9am-4.30pm or 5pm Mondays to Fridays, and 9am-12.30pm on Saturdays. However many retail banks are now keeping their teller services open until 7pm during the work week. ATMs are available in convenient locations throughout the city, and virtually all banks offer phone banking and\/or Internet banking facilities.<\/p>\n

The largest and most popular banks are HSBC, Hang Seng and Bank of East Asia, all of which have extensive ATM networks. Recently, the American Citibank has undertaken an aggressive policy of expansion in Hong Kong<\/a>.<\/p>\n

Opening a a bank account in Hong Kong is relatively easy even though all banks generally require certain necessary documents, namely a copy of your HK ID card, address proof and a copy of your employment\/business visa.<\/p>\n

The majority of banks in Hong Kong offer Internet banking, although some transactions, such as direct debits and first-time payment transfers, need to be set up in person within the branch itself. Employees of both local and international banks in Hong Kong can communicate effectively in English.<\/p>\n

\n

Major Local Banks in Hong Kong<\/h3>\n

Hang Seng Bank
\nTel: 2822 0228
\nhttp:\/\/bank.hangseng.com\/1\/2\/home<\/a><\/p>\n

Bank of East Asia
\nTel: 2842 3200
\nhttp:\/\/www.hkbea.com<\/a><\/p>\n

Dah Sing Bank
\nTel: 2507 8866
\nhttp:\/\/www.dahsing.com<\/a><\/p>\n

Bank of China (Hong Kong)
\nTel: 2826 6888
\nhttp:\/\/www.bochk.com<\/a><\/p>\n

Wing Lung Bank
\nTel: 2826 8333
\nhttp:\/\/www.winglungbank.com<\/a><\/p>\n

Bank of Communications
\nTel: 2841 9611
\nhttp:\/\/www.bankcomm.com.hk<\/a><\/p>\n

China Construction Bank
\nTel: 2868 4438
\nhttp:\/\/www.asia.ccb.com\/hongkong\/personal\/<\/a><\/p>\n

China Merchants Bank
\nTel: 3118 8888
\nhttp:\/\/hk.cmbchina.com<\/a><\/p>\n

Industrial and Commercial Bank of China (Asia)
\nTel: 2588 1188
\nhttp:\/\/www.icbcasia.com<\/a><\/p>\n

Major International Banks in Hong Kong<\/h3>\n

HSBC
\nTel: 2748 3322
\nhttp:\/\/www.hsbc.com.hk<\/a><\/p>\n

Standard Chartered Bank (incorporated in HK)
\nTel: 2886 8888
\nhttp:\/\/www.standardchartered.com.hk<\/a><\/p>\n

DBS Hong Kong
\nTel: 2290 8888
\nhttp:\/\/hk.dbs.com<\/a><\/p>\n

Citibank Hong Kong
\nTel: 2230 0400
\nhttp:\/\/www.citibank.com.hk<\/a><\/p>\n

Royal Bank of Scotland
\nTel: 2966 2800
\nhttp:\/\/www.rbs.co.uk<\/a><\/p>\n

American Express Bank
\nTel: 2844 0688
\nhttp:\/\/www.americanexpress.com\/hk<\/a><\/p>\n

Societe Generale
\nTel: 2166 5388
\nhttp:\/\/www.sgcib.com<\/a><\/p>\n

UBS AG
\nTel: 2971 8888
\nhttp:\/\/www.ubs.com.hk<\/a><\/p>\n

BNP Paribas
\nTel: 2909 8888
\nhttp:\/\/bnpparibas.com.hk<\/a><\/p>\n

Australia & New Zealand Banking Group
\nTel: 2843 7111
\nhttp:\/\/www.anz.com\/hongkong<\/a><\/p>\n

Credit Suisse AG
\nTel: 2841 4888
\nhttps:\/\/www.credit-suisse.com\/hk<\/a><\/p>\n

Bank of Montreal
\nTel: 2522 4182
\nhttp:\/\/www.bmo.com\/asia\/<\/a><\/p>\n

Fubon Bank
\nTel: 2566 8181
\nhttp:\/\/www.fubonbank.com.hk<\/a><\/p>\n

National Australia Bank
\nTel: 2826 8111
\nhttp:\/\/www.nabasia.com<\/a>[\/vc_column_text][\/vc_column][vc_column width=”1\/3″ el_class=”city-side-bar”][vc_row_inner el_class=”sidebar-section-one”][vc_column_inner][vc_custom_heading text=”Top Tips” font_container=”tag:h4|font_size:24|text_align:left|color:%23ffffff” google_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal”][vc_separator color=”#ffffff” type=”full_width” thickness=”1″ up=”” down=””][vc_column_text]<\/p>\n\n\n\n\n\n\n\n
01<\/td>\nThe majority of homes in Hong Kong do not have ovens, as most Chinese cooking is done on a hob. Check kitchen appliances before signing a lease.<\/td>\n<\/tr>\n
02<\/td>\nHong Kong is mainly hot but it does get cold between December and February. Homes don’t have heating so you will need your own heating appliances.<\/td>\n<\/tr>\n
03<\/td>\nAll residents need a Hong Kong ID card. Queues for registration are always huge so book an appointment in advance.<\/td>\n<\/tr>\n
04<\/td>\nRental prices are very high in Hong Kong and you will usually be expected to pay six weeks rent to the estate agent to pay for his or her services.<\/td>\n<\/tr>\n
05<\/td>\nTax is not automatically deducted from your salary in Hong Kong. You will need to ensure that you put aside enough money each month for tax purposes.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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