Standard Chartered Bank, as one of Hong Kong's major note-issuing banks, offers a diverse range of banking services covering savings, investments, loans, and more, catering to various clients' financial management needs.

Below are detailed types of personal accounts offered by Standard Chartered Bank, their opening requirements and processes, as well as important considerations for international remittances to help you fully understand the account opening process and key points to note.

Personal Accounts Types

1. Personal Banking Services (Easy Banking)

   • Offers intelligent electronic financial tools such as SC Pay, Scan & Pay, and QR Cash.
   • Supports trading in stocks, funds, and foreign exchange, along with various loan products.
   • Fee-free credit cards with interest-free repayment periods and free credit limit transfers.

2. Priority Banking

   • Provides personalized wealth management solutions for high-net-worth clients.
   • Includes sustainable investment and international financial solutions to meet global investment needs.

3. Priority Private Banking

   • Offers broader investment choices and professional financial advice.
   • Exclusive banking privileges and a customized service experience akin to private banking.

4. Premium Banking

   • Multiple reward programs and a premium service experience, including cash rebates and free airline tickets.
   • Professional insurance planning and preferential fund subscription rates.

Opening Requirements

• Personal Banking Services (Easy Banking): No existing Standard Chartered Bank account required for new customers.

• Priority Banking: Daily average balance of HKD 1,000,000 or monthly salary of HKD 80,000, or mortgage loan balance of HKD 5,000,000 or above.

• Priority Private Banking: Average total balance of HKD 8,000,000 or above.

• Premium Banking: Daily balance of HKD 200,000 or above.

During the account opening process, customers must meet the corresponding minimum deposit requirements based on their chosen account type. For instance, Priority Banking customers need to maintain a daily average balance of HKD 1,000,000 or meet the relevant loan amount. Additionally, maintaining a certain balance level is necessary to keep the account active and avoid extra service charges.

International Remittances Considerations

When using Standard Chartered Bank for international remittances, it's crucial to consider the following:

1. Remittance Fees and Exchange Rate Transparency: Standard Chartered Bank's international remittances may involve high transaction fees, and the bank's exchange rates are typically higher than real-time market rates. This may result in additional costs during the remittance process, often referred to as "hidden fees."

2. Service Fee Variances: Different service fees may apply based on the remittance method and the customer's account type. For example, Priority Banking customers may incur additional fees when opting for online or mobile banking remittance services.

3. Remittance Processing Time: International remittances with Standard Chartered Bank generally require longer processing times, especially before funds reach the recipient's bank account. Customers should consider this time factor, particularly when urgent remittances are needed.

Required Documents

When applying to open a Standard Chartered Bank account in Hong Kong, customers need to prepare the following documents:

• Identity Proof: Valid Hong Kong Identity Card or other legally recognized identification documents. Non-permanent residents may need additional identification documents.

• Address Proof: Valid proof of current residential address such as utility bills or lease agreements from the last three months.

• Employment and Income Proof: Depending on the customer's occupation and income source, documents such as employment contracts, salary slips, or tax returns may be required.

• Additional Documents: Depending on the specific account type and application criteria, customers may need to provide additional documents such as business profiles or financial statements to help the bank better understand their financial status and needs.

Standard Chartered Bank regularly verifies customer information to ensure completeness and accuracy, providing better service and protection for customers. It is advisable for prospective account holders to carefully prepare all necessary documents and information before applying to facilitate a smooth account opening process.

Methods and Procedures

Mobile Online Account Opening

• • Suitable for new customers using the Standard Chartered Mobile Banking app to complete the account opening process without visiting a branch.
  • Customers need a valid Hong Kong Identity Card and must meet other criteria, such as being over 18 years old and not a U.S. resident.

Branch-based Account Opening

• • If customers require services such as checkbooks or cannot complete the account opening process through the mobile app, visiting a branch is recommended.
  • Appointment scheduling via the Standard Chartered Bank website can expedite the account opening process.