Bank of East Asia (BEA) is one of Hong Kong's major banks, with numerous branches and ATMs across Hong Kong and international locations, offering diversified financial services including savings, investments, remittance, and loans. This article will explore the types of accounts offered by BEA, the requirements for opening an account, the process involved, and associated fees.

BEA Account Types

BEA provides several comprehensive account types to meet varying customer needs:

• Private Banking: Exclusive private banking centers, senior client managers, and concierge services.
• Premier Banking: Dedicated client managers and financial advisory teams, with cross-border financial services across the Greater Bay Area.
• Elite Banking: Full financial and investment functionalities through the BEA App, offering low-threshold investment products in foreign currencies, gold, stocks, and bonds.
• BEA GOAL: A fully digital integrated account with zero opening deposit requirement, combining account opening, savings, investment, and consumption services.
• Cross-border Wealth Management: Qualified wealth management products including funds and deposits in RMB/HKD/foreign currencies, with multiple investment discounts and fee waivers.

Documents Required to Open a BEA Account

Documents and information required for opening a personal account at BEA include:

• Identification documents: Hong Kong Permanent Identity Card/valid passport/other travel documents.
• Proof of Hong Kong address for the last three months: Utility bills, bank statements, letters from universities. For non-Hong Kong residents, mainland China driving license or ID card with photo and address, or mainland bank statements are acceptable.

BEA Minimum Deposit and Monthly Fees

Different account types have varying minimum deposit requirements and monthly fees:

• Private Banking: Daily average total financial value of HKD 5 million, HKD 200 monthly fee (waived with the required balance).
• Premier Banking: Daily average total financial value of HKD 500,000, or monthly salary of HKD 60,000, HKD 200 monthly fee.
• Elite Banking: Daily average total financial value of HKD 100,000, or monthly salary of HKD 20,000, HKD 50 monthly fee.
• BEA GOAL: No minimum requirement, fee waiver.
• Cross-border Wealth Management: Household financial net asset balance not less than RMB 1 million at the end of the month, fee waiver.

BEA Account Opening Process

The process for opening a BEA account via mobile app is as follows:

1. Download and open the BEA Mobile App.
2. Select the type of account to open.
3. Fill in contact details and verify your mobile number.
4. Upload your identity card and a selfie for identity verification.
5. Complete personal details.
6. Set up ATM card and online banking password.
7. Wait for account approval (approximately 2 working days).
8. Upon successful opening, the ATM card will be mailed within 7 working days.

If unable to meet the mobile account opening criteria, customers can visit any BEA branch in person. BEA also offers a "Witnessed Account Opening" service for mainland China customers at various branches across China.

FAQs

Does BEA offer account opening promotions?

Currently, you have a chance to earn up to HK$3,000 Welcome Bonus when you open a Centro Banking account and fulfil the new funds requirement;

Premier Account can enjoy rewards up to HK$1,750 and a series of special offers;

BEA GOAL account can earn up to HK$1,450 Welcome Bonus by opening an account via mobile phone and completing designated tasks.

Can I open a BEA account via mobile?

Eligible customers can apply to open an account through BEA Mobile, conditions to be met include:

Brand new customers or non-existing integrated account holders, aged 18 or above, Hong Kong permanent residents, residing in Hong Kong, tax residents of Hong Kong only, non-US citizens or foreign residents.

BEA meets the diverse needs of its customers through a wide range of account types and comprehensive financial services, with particular strengths in cross-border financial services and account management.