Hang Seng Bank
traditional bank
Hang Seng Bank is Hong Kong's second-largest listed bank by assets and a majority-owned subsidiary of HSBC Group, making it one of the SAR's most trusted institutional names. Founded in 1933 and headquartered in Central, it serves retail, commercial, and private banking customers across Hong Kong and mainland China. For expats residing in Hong Kong on valid employment or investment visas, Hang Seng offers competitive HKD and multi-currency savings accounts, a widely accepted Visa debit and credit card suite, and a feature-rich mobile banking app covering transfers, FPS, and securities trading. The flagship Prestige Banking tier (HKD 1 million minimum relationship balance) unlocks preferential FX rates, dedicated relationship managers, and complimentary safe-deposit boxes. Hang Seng does not accept US persons due to FATCA compliance constraints, and non-resident account opening without a Hong Kong address or visa is not available. Deposits are protected up to HKD 500,000 under the Hong Kong Deposit Protection Scheme. The bank is regulated by the Hong Kong Monetary Authority (HKMA).
Details
- Headquarters
- Hong Kong
- Currencies
- 11
- Monthly Fee
- Free
- Non-Residents
- Not accepted
- US Persons
- Not accepted
- Debit Card
- Available
- Business Account
- Available
Opening Requirements
- •Valid Hong Kong Identity Card (HKID) or passport for non-HKID holders
- •Proof of Hong Kong residential address (utility bill or bank statement dated within 3 months)
- •Hong Kong Employment Visa or valid residency document for non-permanent residents
- •Minimum initial deposit (HKD 10,000 for standard savings; HKD 1,000,000 for Prestige Banking)
- •Tax Identification Number and CRS/FATCA self-certification form
- •Source of funds and source of wealth declaration for compliance screening
- •In-person branch visit required for most account types
Restricted Nationalities
Not available to nationals of: north-korea, iran, syria, cuba, russia
Nationality Acceptance Matrix
Who this provider will and will not onboard. Refusals are listed first. Sourced from the provider's own published terms and recent public onboarding reports — confirm with the provider before applying.
| Nationality | Accepted | Notes |
|---|---|---|
| us | NO | US persons declined across retail and commercial products due to FATCA reporting burden; HSBC Group policy applies across subsidiaries including Hang Seng. |
| russia | NO | Russian nationals face heightened scrutiny or decline following HKMA AML guidance and HSBC Group sanctions-alignment policy post-2022. |
| iran | NO | Blocked — OFAC/UN Iran sanctions apply; HSBC Group compliance policy. |
| north korea | NO | Blocked — UN/OFAC DPRK sanctions. |
| syria | NO | Blocked — UN/OFAC Syria sanctions. |
| cuba | NO | Blocked — OFAC Cuba sanctions; US-dollar transaction restrictions apply. |
| hong kong | YES | Hong Kong permanent residents are the core retail market; full product suite available with HKID. |
| china | YES | Mainland Chinese nationals accepted; Hang Seng has a dedicated cross-border banking offering and mainland branches. CRS self-certification required. |
| uk | YES | UK nationals accepted with valid Hong Kong residency document and local address; HSBC Group relationship may facilitate onboarding. |
| australia | YES | Australian nationals accepted with standard KYC documentation and valid HK visa or residency. |
| canada | YES | Canadian nationals accepted subject to standard KYC and Hong Kong residency requirements. |
| india | YES | Indian nationals accepted; common among Hong Kong-based professionals on Employment Visas. |
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Sources & last verified
- Last verified 2026-06-15