BusinessVantage Plus - Notes / Terms and Conditions

Notes

  1. Import/Export service fees
    Waiver of Export DC Advising fee for first six months and trade fees discount are not available to existing trade customers or business customers who have terminated any import or export account with The Hongkong and Shanghai Banking Corporation Limited in Hong Kong (the "Bank") in the past 12 months prior to the opening of BusinessVantage Plus account. Import/Export service discount covers seven trade bill types: Irrevocable/revocable DC opening, Export DC bills sent to local banks on with or without recourse basis, full or partial transfer of DC, Import collection bills and Export non-DC collection bills. The discount is only valid during the period when you hold a Trade account. The discount will commence no later than 6 working days after your BusinessVantage Plus status is activated or Trade account is successfully opened, whichever comes later.
  2. Import/Export bill type Discount on standard tariff Applicable amount
    Irrevocable/revocable DC opening 33% off The portion of the amount below US$ 50,000 or equivalent in other currencies and subject to standard minimum pricing
    Import non-DC collection bills 33% off The portion of the amount over US$ 50,000 or equivalent in other currencies and subject to standard minimum pricing
    Export DC bills sent to local banks on with recourse basis 50% off Full amount
    Export DC bills sent to local banks on without recourse basis 33% off The portion of the amount over US$ 50,000 or equivalent in other currencies and subject to standard minimum pricing
    Export non-DC collection bills 20% off The portion of the amount over US$ 50,000 or equivalent in other currencies and subject to standard minimum pricing
    Full transfer of DC 42% off Full amount
    Partial transfer of DC 33% off The portion of the amount over US$ 50,000 or equivalent in other currencies and subject to standard minimum pricing

  3. Telegraphic transfers
    1. The discount is only applicable to the basic transaction fee collected upfront for all inward and outward telegraphic transfers conducted via HSBCnet at the standard rate (excluding payments subject to the Real Time Gross Settlement tariff) and successfully processed via your savings or current accounts held under the same company name with the Bank.
    2. The discount cannot be used in conjunction with any other telegraphic transfer offers of the Bank.

  4. Dedicated Trade Client Service Executive
    The service hours are: Monday to Friday, 9 am to 6 pm.

  5. HSBCnet offers
    Waiver of HSBCnet set up fee and first six months’ HSBCnet monthly fee is available to new HSBCnet customers only. HSBCnet monthly fee waiver only subject to basic monthly service fee.

  6. Trade turnover includes all import bill and export bill transactions that are processed by HSBC in Hong Kong.

  7. Preferential foreign exchange rates
    The preferential exchange rates are only extended to your transactions (except placement of foreign currency time deposits online and transactions processed via your Hong Kong Dollar passbook savings accounts) conducted via HSBCnet GetRate and your trade transactions.

  8. Free BizAlerts
    BizAlerts will be sent to you in the form of email and / or SMS. Please note that email BizAlert is not applicable to Investment Order Confirmation.

  9. Trade Academy workshop
    Applicable to workshop I: Introduction to Trade and Trade Services. Subject to seat availability. Prior booking via your dedicated Trade Client Service Executive is required. Seats are allocated on a first-come, first-served basis.

  10. Secured Credit Facility
    1. This service is only applicable to eligible customers. Loan application is subject to the Bank's usual credit assessment and approval procedure.
    2. This facility is applicable to selected trade and guarantee products.
    3. Certificates of Deposits, Deposit Plus, Structured Investment Deposits and locally quoted shares will be accepted as secured assets, effective 18 September 2010.

  11. Auto-sweeping
    This service may not be offered under certain conditions, such as when there is an outstanding amount in your BusinessVantage Plus Secured Credit Facility or other credit facilities under your BusinessVantage Plus account. No Unauthorised Overdraft (UOD) handling charge will be collected by the Bank if the auto-sweeping is effected successfully. However, interest shall accrue on the debit balance from the date the current account became overdrawn to the date of full payment thereof at the same rate(s) as applicable to the Overdraft Protection and/or any unauthorised overdraft (as the case may be). Interest on unauthorised overdraft is calculated at HSBC's Best Lending Rate (BLR) + 8% per annum.

  12. Overdraft Protection
    You can enjoy this service provided an average deposit balance of HK$100,000 is maintained in the previous month under BusinessVantage Plus. Other conditions may also apply. Interest is calculated at the HSBC's Best Lending Rate (BLR) + 5% per annum.

  13. Applicable to USD/HKD/RMB telegraphic transfers from a company account of HSBC in Hong Kong to HSBC account in mainland China (with a cut-off time of 4:30 pm for USD/HKD remittances and 3:30pm for RMB remittances); USD/HKD telegraphic transfers from a company account of HSBC in Hong Kong to HSBC account in Taiwan and Macau (with a cut-off time of 4:30 pm) and to an account in the designated Bank of Communications branches in 97 cities across mainland China (with a cut-off time of 4 pm); and from Monday to Friday (except public holidays). Customers must place their instructions via HSBCnet, and the beneficiaries must be a company (an onshore company in case of remittance to mainland China). Please visit the HSBC website or contact any HSBC branches for further details on this service’s terms and conditions.

  14. Investment involves risks. The information in this document does not constitute an offer to sell or solicitation for the purchase or sale of any deposit or investment in any products referred to herein. The price of investments may move up or down. There is an inherent risk that losses may be incurred rather than profit made as a result of buying and selling investment products.

  15. Only applicable for certain oversea branches. It is the discretion of the relevant branches whether account opening applications are accepted or not.

The Bank reserves the right to vary, suspend or cancel any preferential features and the relevant note / terms and conditions of BusinessVantage Plus at any time. In the event of any disputes, the decision of the Bank on all matters shall be final.

In case of any discrepancies between the English and Chinese versions, the English version shall prevail.

Related products and services

Get started

  • Form Download Centre
  • How to apply
  • How to apply

    Applying for a BusinessVantage account is simple and easy.

    • Apply online or call our dedicated hotline to make an appointment with a nearby HSBC Business Centre for account opening
    • Bring along complete account opening documents and initial deposit to our HSBC Business Centre
    • Upon receipt of all the required information and documentation from your company and completion of application form, your application will be immediately processed and reviewed

    • Successful application is upon the Bank's satisfactory review, and will be notified via SMS to your designated phone number
    • An account opening packet (including the Business Internet Banking security device, Business Debit Card, Phonebanking PIN and all other PIN number) will be sent to you via courier after successful account setup
    • In case of query, please feel free to contact us at our Commercial Banking general hotline 2748-8288

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