For practical purposes in HK think of it as a no-interest chequing account (let me guess, you must be from Canada, to spell 'chequing' and yet not be familiar with current accounts). In HK, a savings account by contrast is one on which interest is payable (purportedly) but cheques cannot be written. It's not necessarily exactly the same in other countries, even former British colonies, and the products keep evolving, blurring these distinctions.
BTW, re the one more word you've added to your list - is it the word 'slang'? You do need to look up its meaning.
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Originally Posted by lowlight
I am still wrapping my head around the english slang that is used in Hong Kong (like elevators being called "lifts", apartments being called "flats" and stamps being called "chops", etc)
Before I go ahead with my research in starting a bank account, can someone make this clear for me?
I noticed some accounts are called "current" accounts... Does that just mean it's a chequing account?
That is all, thanks  |