[doubletrouble]

I am thinking of opening a Bank Account in HK when I visit. Can tourist open a Bank Account there? Do I need local HK address or can I use overseas address?

[dean-dzai]

I tried to open a bank account when I was still in Hong Kong on a tourist visa, they asked 'why I would want a bank account'. For me, I was in the middle of applying for a dependency visa (my wife is Hong Kong Chinese), so I decided to wait. However I do know it is possible because I have an Indian friend who has a bank account here and he was a tourist and in fact is not in Hong Kong.



Also there is a monthly fee of $50HKD on bank accounts with under $5,000HKD with most bank accounts (I am not sure of any bank here without this fee). This may or may not be a problem with you. I am still using a Commonwealth Bank of Australia account, the fee I pay is a $5 AUD per ATM use for an International transfer which is not ideal.

[Star Gazer]

not if your country of origin is not in the list of the anti-money laundering treaty or something like the philippines

[climber07]

Originally Posted by dean-dzai

Also there is a monthly fee of $50HKD on bank accounts with under $5,000HKD with most bank accounts (I am not sure of any bank here without this fee). This may or may not be a problem with you. I am still using a Commonwealth Bank of Australia account, the fee I pay is a $5 AUD per ATM use for an International transfer which is not ideal.

Banks, in general, do not like to open accounts without proof of local address, etc....primarily due to world wide anti-money laundering, and anti-terrorism financing efforts. "KYC" (Know Your Customer) is quickly becoming the norm policy in most places.

Having said that, you may get lucky at a smaller bank... As far as fees, Hang Sang bank has an "ATM Savings" account which does not have a minimum balance requirement nor charge any fees (unless you use the teller for anything other than deposit). As long as all the withdrawals / transfers are done through ATM or on-line there are no fees.