Dah Sing Bank has over 70 years of history, with operations spanning Hong Kong, Macau, and Mainland China, offering a range of services including banking, financial, and securities trading. Despite being smaller in scale compared to HSBC, Bank of China (BOC), and Standard Chartered, Dah Sing Bank remains competitive in terms of banking services and account-opening incentives, particularly with higher fixed deposit rates. This article details the account-opening process, types of accounts, and associated fees for Dah Sing Bank in Hong Kong.

Types of Dah Sing Bank Accounts

Dah Sing Bank offers three main types of comprehensive wealth management accounts, each with distinct features:

1. Easy Save Account

   • Features: Multi-currency savings and checking account with interest, supporting HKD, RMB, and USD; savings account supports 14 foreign currencies with daily interest calculation and monthly payment.
   • Benefits: Earn Easy Save Points for cash rewards; access through phone, online, and mobile banking services.
   • Fees: No minimum balance requirement; no account monthly fee; ATM card annual fee of HKD 50; ATM withdrawal fee starting at HKD 20; remittance fee starting at HKD 250.

2. i-Account

   • Features: Multi-currency savings and checking account with interest, comes with the Dah Sing Octopus i-Account App card combining withdrawal and Octopus functions.
   • Benefits: Additional annual interest rate of 0.125% on selected bank services or products.
   • Fees: Minimum opening deposit of HKD 100; no account monthly fee; annual fee for ATM card waived; ATM withdrawal fee starting at HKD 20; remittance fee starting at HKD 250.

3. Cartoon Character Comprehensive Wealth Management Account

   • Features: Multi-currency savings and checking account with interest, featuring cartoon designs (e.g., Hello Kitty, Doraemon) for online wealth management services.
   • Benefits: Limited edition cartoon gifts or cash rewards upon account opening and completion of designated tasks.
   • Fees: No minimum balance requirement; no account monthly fee; ATM card annual fee of HKD 50; ATM withdrawal fee starting at HKD 20; remittance fee starting at HKD 250.

Dah Sing Bank Account Opening Incentives

As of December 31, 2024, customers opening an Easy Save Account can enjoy the following incentives:

• Savings Reward: Deposit growth of at least HKD 30,000 qualifies for a basic reward of at least HKD 100; an additional HKD 200 cash reward for completing extra tasks.
• e-Direct Remote Application Reward: Remote account opening and deposit growth of at least HKD 30,000 earn a HKD 200 cash reward.
• Transaction Reward: Each qualified transaction (including bill payments, investment services, foreign exchange trades, securities transactions, and debit card purchases) earns HKD 100 cash, with a total maximum of HKD 500.

Dah Sing Bank Account Opening Conditions

The conditions for opening an account at Dah Sing Bank in Hong Kong are as follows:

• Must be at least 18 years old.
• Must have valid identification documents.
• Provide a valid contact phone number and address.
• Minimum opening deposit of HKD 100.

Dah Sing Bank also has branches in Mainland China (e.g., Shanghai, Guangzhou, Shenzhen) that can assist with opening Dah Sing Bank accounts in Hong Kong. Conditions may vary, and those interested in investing in Hong Kong funds and bonds can inquire about "Cross-Border Wealth Management Connect (Southbound)" through Dah Sing Bank’s Mainland branches.

Documents Required for Dah Sing Bank Account Opening

Required documents and information include:

• Identification: Hong Kong Permanent Identity Card, or travel documents and Hong Kong ID (if available).
• Personal Information: Residential address.
• Contact Information: Email address, mobile phone number.
• Additional documents may be requested by the bank if necessary.

Dah Sing Bank Account Fees

Key fees are as follows:

• Account Opening: Free (some accounts require a minimum opening deposit of HKD 100).
• Account Cancellation Fee: HKD 200 if canceled within three months of opening.
• ATM Card: Annual fee of HKD 50 (waived for i-Account).
• ATM Withdrawal Fees:
  • Local “UnionPay” ATMs: HKD 20
  • Overseas “UnionPay” ATMs: HKD 50/50 RMB
  • Overseas “China UnionPay” ATMs: HKD 28
• Remittance Fees:
  • Incoming Telegraphic Transfer: HKD 70/9 USD or equivalent
  • Outgoing Telegraphic Transfer: Basic fee of HKD 120 or equivalent, postal fee of HKD 130 or equivalent, full payment additional fee: 25 USD/25 EUR or actual cost.
• Multi-Currency Debit Card: No annual fee, local ATM withdrawals free of charge, but transactions in unsupported currencies incur a fee of 1.95%.

Dah Sing Bank Account Opening Process

For Mainland China customers:

1. Schedule an appointment: Call Dah Sing Bank’s Mainland hotline at (86) 400 882 8893, available weekdays from 09:00 to 18:00.
2. Visit the designated branch: Complete the Mainland account opening process, then fill out the Hong Kong account application form.
3. Await approval: Hong Kong account details will be sent to your email; follow instructions to activate online banking.

For Hong Kong residents:

1. Visit a branch: Prepare identification, opening deposit, and proof of address.
2. Complete the application: Register for online banking services.
3. Receive ATM and/or debit card: Cards will be mailed to your address.

For remote account opening via Dah Sing Mobile App:

1. Download the app: Select to open an i-Account.
2. Submit application: Fill in personal details, verify phone number, scan ID, and take a selfie for verification.
3. Activate account: Transfer HKD 1 from another Hong Kong bank account within 30 days to activate; if no other account, visit a Dah Sing branch to complete customer verification.

In summary, Dah Sing Bank offers a range of account types and rewards tailored to different customer needs. The account opening process is straightforward, with a clear fee structure, allowing customers to choose the account type that best suits their needs.