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Thursday, March 21, 2019, 14:00
HK residents can open mainland bank accounts in city
By Xinhua
Thursday, March 21, 2019, 14:00 By Xinhua

In this Aug 23, 2012 photo, a woman walks past the Bank of China Tower in Hong Kong. The Bank of China (Hong Kong) has launched a new service allowing Hong Kong residents to open cross-boundary bank accounts without having to visit mainland. (PHILIPPE LOPEZ / AFP)

HONG KONG – Residents of the Hong Kong Special Administrative Region (HKSAR) can apply for mainland banking accounts easily in Hong Kong, as a new service was launched by Bank of China (Hong Kong) on Wednesday.

As the development of the Guangdong-Hong Kong-Macao Greater Bay Area moves forward, regulatory approval has been granted by the mainland for the pilot mainland personal account opening attestation service in Hong Kong, in an effort to fulfill the demand for financial services among the Hong Kong residents who travel, work and live on the mainland.

Customers may link their mainland personal account to mainland mobile payment applications to enjoy the convenience of digital payments

For the Hong Kong citizens looking to open an account, they only need to visit any BOCHK branch with their permanent Hong Kong ID card and Mainland Travel Permit for Hong Kong and Macao Residents and fill in account opening documents.

"It took about 15 minutes. Quite convenient," said a Hong Kong resident surnamed Lee, after he completed the application procedures at a BOCHK branch.

READ MORE: HK welcomes Greater Bay Area development blueprint

Customers may link their mainland personal account to mainland mobile payment applications to enjoy the convenience of digital payments.

"With the great support from both mainland and Hong Kong regulatory authorities, BOCHK cooperate closely with its parent bank Bank of China (BOC) and their institutions in the Bay Area in introducing the mainland personal account opening service, which allows Hong Kong residents to open mainland banking accounts easily without setting foot outside Hong Kong," said Ann Kung, deputy chief executive of BOCHK.

"BOCHK will continue to expedite the innovation of cross-border financial products and services in order to fulfill the demand for cross-border financial services among those Hong Kong people who work, live and travel in the Greater Bay Area."

ALSO READ: WeChat Pay HK expands payment services to mainland

"The bank is set on making positive contributions to the development of the Greater Bay Area into a quality zone for living, working and travelling, as well as a vibrant world-class city cluster," she added.  


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