# Bank of East Asia: Hong Kong business account

> A long-established Hong Kong bank's all-in-one business account: HKD current, savings and time-deposit sub-accounts with an optional USD current account, payroll and MPF services and FPS, CHATS and telegraphic transfers. Open to Hong Kong companies, sole proprietorships and partnerships, and to overseas companies for a HK$10,000 handling charge. Opening needs an appointment at a Business Centre.

Finzil profile: https://finzil.com/providers/bank-of-east-asia · Provider website: https://hkbea.com · Facts checked: 2026-10-21

## Key facts

- **Monthly fee:** HK$200 (Waived with HK$50,000 balance, MPF or payroll)
- **Setup fee:** HK$800 (Account opening fee)
- **Currencies:** 2 (HKD and USD current accounts)
- **Onboarding:** 3–5 days (typical)
- **Provider type:** Bank (HKMA-licensed)
- **IBAN:** No IBAN; Hong Kong account number
- **Payment rails:** FPS, CHATS, telegraphic transfers
- **Cards:** UnionPay account card and corporate credit card
- **Safeguarding:** Deposit Protection Scheme member
- **Non-residents:** Accepted (Overseas companies can apply, with certified documents and a HK$10,000 handling charge.)
- **Remote opening:** In person (Documents can be sent online, but signing and identity checks are at a BEA Business Centre.)
- **Headquarters:** Hong Kong
- **Currency codes:** HKD, USD

## Who can apply

- **Non-resident owners** (owner or director living outside the company's country): Accepted
- **Countries of incorporation accepted:** Not published
- **Countries of incorporation refused:** Not published
- **Owner residency accepted:** Not published
- **Owner residency refused:** Not published
- **Owner nationality refused:** Not published
- **Company types accepted:** Sole proprietorships, Partnerships, Hong Kong limited companies, Overseas-incorporated companies, Societies, clubs and associations, Charitable organisations, Trusts (HK$10,000 application fee)

## Industries

- **Industries served:** Startups and SMEs, Professional services, Import and export, NGOs and charities
- **Prohibited industries (provider's own list):** Not published
- **Permitted industries (provider's own list):** Sole proprietorships; Partnerships; Limited companies; Start-ups (Business Start Account); Societies, clubs and associations; Charitable organisations; Schools (incorporated management committees); Owners' incorporations

## Licences

- Hong Kong: Hong Kong Monetary Authority, Bank, The Bank of East Asia, Limited (https://vpr.hkma.gov.hk/eng/regulatory-resources/registers/register-of-ais-and-lros/info/100013)

Safeguarding: BEA is a licensed bank and a member of Hong Kong's Deposit Protection Scheme; the protected amount is not stated on the pages read.

## Fees

Source: https://www.hkbea.com/pdf/en/bank-charges/CP%20Charges%20EN.pdf (checked 2026-10-21)

### Plans

- **CorporatePlus Account:** 200 HKD a month, setup 800 HKD (Monthly fee waived with HK$50,000 average balance, HK$5,000 MPF or HK$50,000 payroll)

### Outgoing

- SWIFT / international: Not published

### Currency exchange (FX)

- FX markup: Not published

### Cards

- ATM withdrawal: HKD 15 · UnionPay ATM in Hong Kong; HK$50 overseas

## Opening an account

Opening an account typically takes three to five business days.

1. **Apply or call.** Apply online and upload documents (Hong Kong companies with up to 3 individual owners and signatories) or call the BEA Corporate Express hotline.
2. **BEA contacts you.** BEA reviews your company and contacts you within about 2 working days.
3. **Appointment.** Attend a Business Centre to verify identity and sign the application.
4. **Account live.** Make the initial deposit of HK$10,000 for a CorporatePlus Account.

Documents: Certificate of incorporation and constitutional documents; Company search report or certificate of incumbency (within 6 months); Identification of directors, beneficial owners and signatories; Residential address proof if needed; Organisational chart for multi-layer ownership; Board resolution to open the account; Documents certified by a Hong Kong lawyer, accountant, chartered secretary or notary where originals are not provided

## Pros and cons

- Pro: A licensed Hong Kong bank with an all-in-one HKD and USD account
- Pro: Payroll, MPF and corporate online banking in one account
- Pro: Open to sole proprietorships, partnerships, limited companies, associations and charities
- Pro: Overseas-incorporated companies can apply
- Pro: Payments by FPS, CHATS and telegraphic transfer
- Con: Opening needs an appointment at a Business Centre in Hong Kong
- Con: HK$200 monthly fee unless you meet a balance, MPF or payroll test
- Con: HK$800 opening fee, and a HK$10,000 handling charge for overseas companies
- Con: Transfer fees and the FX margin are not published on the pages read
- Con: Casinos, money services, arms and virtual-commodity businesses pay a HK$10,000 application fee

## Finzil's take (opinion)

BEA suits a Hong Kong company, or an overseas one willing to pay the handling charge, that wants a traditional bank with payroll and MPF built in and can attend an appointment. It is not an online-only account, and its transfer fees are not published.

## Alternatives

- [HSBC Hong Kong](https://finzil.com/providers/hsbc-hong-kong): Bank · Hong Kong
- [DBS Hong Kong](https://finzil.com/providers/dbs-hong-kong): Bank · Hong Kong
- [Hang Seng Bank](https://finzil.com/providers/hang-seng-bank): Bank · Hong Kong
- [Bank of China (Hong Kong)](https://finzil.com/providers/bank-of-china-hong-kong): Bank · Hong Kong

## FAQ

**Is the Bank of East Asia a bank?**

Yes. The Bank of East Asia, Limited is a licensed bank on the HKMA register of authorized institutions and a member of the Deposit Protection Scheme.

**How much does the CorporatePlus Account cost?**

HK$800 to open and HK$200 a month, waived with an average daily relationship balance of HK$50,000, HK$5,000 of MPF contributions or HK$50,000 of automated payroll. Overseas company accounts carry a HK$10,000 handling charge.

**Can I open the account online?**

You can apply and upload documents online, but you must attend a BEA Business Centre to verify identity and sign.

**Can an overseas company open a BEA account?**

Yes. BEA lists document requirements for companies incorporated overseas with or without a Hong Kong establishment; the HK$10,000 handling charge applies.

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