Business Accounts FAQs
How can I apply for a business account?
Open a business account in as fast as 3 working days^. Apply online or complete the application right in our app and receive your account number instantly.
Apply online or download our HSBC HK Business Express mobile app to apply
APK file - for Android users only
(If unable to download from Google Play)
Scan QR or click to download
We will get in touch with you to arrange an appointment at your preferred HSBC Business Centre for account opening. Please bring along all required documents and initial deposit of HKD10,000 to the appointment for account opening.
Or
Call our dedicated hotline 2748 8238
Call us to make an account opening appointment at your preferred HSBC Business Centre, then bring along all required documents and initial deposit of HKD10,000 to the appointment for account opening.
What are the requirements to open a business account?
Apart from the initial deposit of HKD10,000, you need to bring along all required documents to the account opening appointment. Documents required vary for different business types, for details please refer to our Account Opening Document Checklist.
What is a Business Integrated Account?
A Business Integrated Account is an account which combines savings, current and time deposits accounts in HK Dollar, Renminbi and a range of foreign currencies* under one single account number, enabling you to manage your day-to-day banking with ease. Investment account is also combined under our Business Integrated Account for you to manage your investment trading needs.
HSBC Sprint Account, HSBC Business Direct and BusinessVantage are the three different types of Business Integrated Accounts to suit your business needs.
* Foreign currencies include: US Dollar (USD), Pound Sterling (GBP), Canadian Dollar (CAD), Australian Dollar (AUD), Japanese Yen (JPY), New Zealand Dollar (NZD), Euro (EUR), Singapore Dollar (SGD), Swiss Franc (CHF), Renminbi (RMB) and Thai Baht (THB)
How should I choose between the three Business Integrated Accounts?
To compare the Business Integrated Accounts, please click here.
In general, HSBC Sprint Account* provides small-scale startups with a simpler and faster banking experience. It provides you free access of both Business Internet Banking and HSBC HK Business Express mobile app, and it is suitable to business without trade service need.
HSBC Business Direct provides basic banking service and is most suitable for SMEs. It is especially popular amongst our customers mainly operating their banking accounts via electronic means. Additionally, you may apply for HSBCnet, a powerful and intuitive all-in-one online banking platform to make your day-to-day banking fast and easy.
BusinessVantage provides more advanced banking services and is suitable for businesses with international footprint. Extra free counter transaction allowance helps you to manage your banking needs more effectively. You may also apply for HSBCnet to make your day-to-day banking fast and easy.
*HSBC reserves the right to accept or decline any application of HSBC Sprint Account. Terms and conditions apply.
Where can I learn more for each Business Integrated Account?
Product guides for our different Business Integrated Accounts are available at all our HSBC Business Centres. You can also access the product guides by clicking the below links:
Noted there is a counter transaction allowance for business accounts. What is that about?
a. What is the definition of "Counter Transactions"?
The following transactions conducted over branch counters with the assistance of an HSBC branch staff are considered as counter transactions:
- Cash deposit (including bulk cash deposit)
- Cash withdrawal
- Cheque deposit (including bulk cheque deposit and house cheque deposit)
- Cheque withdrawal
- Mixed deposit
- Transfer withdrawal (transfer between two HSBC accounts in Hong Kong)
b. How is "Counter Transaction" computed?
Total number of counter transactions is calculated based on the total number of counter transactions conducted in respect of all accounts maintained with HSBC in Hong Kong by your company with the same business registration number.
These counter transactions could be initiated by your company or a third party.
Here are a few scenarios to explain the computation of monthly transaction fee for counter transactions of an HSBC business account customer (Company A):
Scenario | Is this considered a counter transaction? | |
|---|---|---|
1 | Company A issues a cheque from its HSBC Business Direct account to Company B. Company B presents the cheque at an HSBC branch counter and requests immediate fund transfer to its account. | Yes. |
2 | Mr. Chan (a non-HSBC customer) wants to pay Company A. Mr. Chan visits an HSBC branch counter and deposits a cheque into Company A's HSBC Business Direct account. | Yes. |
3 | Company A visits an HSBC branch counter to withdraw / deposit cash or withdraw / deposit a cheque from/to its HSBC Business Direct account. | Yes. |
4 | Company A deposits a cheque and some cash to its HSBC Business Direct account using the same pay-in slip at an HSBC branch counter. | Yes - but considered as ONE counter transaction only. |
5 | Company A deposits five cheques to its HSBC Business Direct account using the same pay-in slip at an HSBC branch counter. | Yes - but considered as ONE counter transaction only. |
6 | Company A deposits cash / cheque to its HSBC Business Direct account through the Drop & Go counters or drop-in boxes. | No. |
7 | Company A transfers money from its HSBC Business Direct account to an account with another local bank using the HSBC branch counter. | No. |
Note:
- The transactions above include all currency types.
- Any transaction type not included in the above list will not be considered as a 'counter transaction' and will be either charged as per the current counter tariffs or remain free of charge. For details of commercial tariffs, please click here.
c. If I deposit five cheques over the counter, does that constitute five counter transactions or one counter transaction?
If you deposit all five cheques using one common cheque deposit slip, that particular transaction will be treated as one counter transaction.
d. If my customer/debtor pays me by depositing a cheque into my account over a branch counter, does that constitute a counter transaction for my account?
Yes, that transaction is deemed to be a counter transaction.
e. If I wish to deposit some US dollars and have a local cheque to be deposited over the branch counter, how many counter transactions will this be considered?
If you fill up one deposit form and ask for a "Mixed Deposit", it would be counted as one counter transaction.
Frequently asked questions on Time Deposit Account
a. How does time deposit work?
Time deposit is a simple, effective and low-risk investment tool to satisfy your portfolio needs. You will be able to lock in an interest rate for a certain period of time.
b. What if I want to withdraw my funds from the time deposit account before it matures?
In the event of early withdrawal, not only you will lose the contractual interest rate you have been enjoying, you may need to pay a penalty for breaching the time deposit contract.
c. Do I need to apply for a time deposit account separately if I already have a Business Integrated Account?
Your Business Integrated Account comes with a time deposit sub-account. You would be able to place time deposit instructions with your Business Integrated Account at our branches or via our electronic banking channels.
What can I do if I wish HSBC to reconsider my application?
You may send an e-mail to our Customer Relations (e-mail address: Head.of.customer.relations.cmb@hsbc.com.hk) with additional information and documents that support your account opening application for our re-consideration. Please include the below information in your email to facilitate the process:
- Applicant’s company Certificate of Incorporation number / Business Registration Certificate number
- Applicant’s company name
- Date of your meeting in our Centers
- Location of the Center you have visited
- Additional information or documents that support your account opening application
What can I do if I wish HSBC to reconsider my account review decision?
You may send an email to head.of.customer.relations.cmb@hsbc.com.hk on or before 21 calendar days after the issuance of account closure notice with the following information:
a. Company identification number (e.g. Business Registration Certificate number)
b. Company name
c. Date of receiving the account closure notice
d. Company representative name (must be bank account authorised signatory)
e. Additional information or documents supporting the appeal application
^Subject to eligibility and upon providing all required documents or information. Terms and conditions apply.
Note: All customers can submit an application online, and eligible customers can open an account remotely.
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