Remote attestation for HSBC China type II account launched

The Hongkong and Shanghai Banking Corporation has launched a new attestation service that allows Hongkongers to open a bank account in the mainland without traveling there. 

Eligible individual customers are now able to remotely apply for an HSBC China type II settlement account via the in-branch attestation service provided by HSBC Hong Kong, the bank said in a statement. 

The service is available to customers aged 18 years or above with valid identification, such as a Hong Kong permanent identity card, or mainland travel permit. Applicants can make an appointment at any of the 22 designated branches.

Opening the account is free of charge and requires no minimum balance. Customers may enjoy a maximum daily transfer in, deposit and payment limit of 10,000 yuan (HK$10,640), and a maximum annual quota of 200,000 yuan. Instant transfers may be made to their type II account using HSBC HK Mobile Banking App or online banking.

This initiative responds to the growing demand for cross-boundary banking solutions among Hong Kong residents in the Greater Bay Area, which not only allows customers to get access to the popular mainland mobile payment apps through the settlement account but also enhances their overall banking experience, making transactions smoother and more efficient, the statement said. 

“With the trend to travel to mainland GBA cities on the rise and customers’ preference for payment options shifting to mobile, our new service offers a reliable and convenient way for them to manage their everyday finances with ease,” said Maggie Ng, head of wealth and personal banking.

A recent survey by the lender showed that mainland mobile payment apps are one of the most frequently used payment methods among Hong Kong respondents, accounting for 28 percent of total transaction volume.

About two-thirds of respondents believe that having a mainland bank account would provide more convenience for them traveling in the mainland, more than half of them expressed interest in opening a type II account to access the popular mainland mobile payment apps, the poll showed. 

However, almost 70 percent of respondents are unwilling to travel cross-border for account opening, it found.

STAFF REPORTER