Fintech / Digital Bank Account in Hong Kong

** Account Opening Can be done by video conference without travelling to Hong Kong **

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Since early 2019, new and revolutionary forms of online Fintech banking services (Airwallex and Currenxie) have been launched in Hong Kong. These solutions serve as a digital bank or Fintech bank for their clients, and in all senses of the word, they are global financial institutions with licenses from Hong Kong Government authority to provide an online platform to offer an array of banking services. They do not hold traditional banking licenses, instead, they merely process transactions while custodian services of the funds are handled by DBS (Hong Kong) Bank or Standard Chartered Bank, Hong Kong. It facilitates its service delivery by simply providing the bank’s SWIFT code and account details, for transferring funds in and out.

At CORE, we are intermediary partners with Airwallex and Currenxie, and we can assist our clients with the completion of the required application forms and guiding you how to open the account, so that they can open a bank account without any hassles.

The following are the key factors when using this form of online banking accounts: –

1. A bank account can be opened without the account holder visiting Hong Kong physically, but a video conference by Skype or WhatsApp is required;
2. Only simple questions will be asked when opening an account, overly complicated and in-depth supporting documents in relation to your business are not required;
3. You may demonstrate the nature and scope of your business through a company website (recommended);
4. An account can be opened within 2 to 4 days;
5. Offers a multi-currencies account with USD, EUR, GBP, HKD, RMB, AUD, CAD, CHF, DKK, GBP, JPY, NOK, NZD, SEK and SGD.
6. Can also issue a Debit MasterCard (optional service);
7. Clients from all countries are allowed, with the exception of sanctioned countries;
8. Ability to dock with other payment platforms such as Stripe, TransferWise and PayPal;
9. No limitation on the maximum amount that is maintained in the account;
10. It is free of charge to open an account and no minimum balance requirement. The fee for each outward remittance is lower than usual banks, and the fee for each inward remittance is free.

After the account is opened, the following is the account details:-

Bank Name : DBS Bank (Hong Kong) Limited

Beneficiary Name : [Name of Digital bank] – [Name of your company]

Account Number :

SWIFT Code/BIC Code : DHBKHKHH

Bank Code : 016

Branch Code : 478

Contact us today to learn more about opening a Fintech / Digital Bank Account in Hong Kong.