Overview
Hang Seng Bank, at a glance.
Hang Seng Bank is a bank headquartered in Hong Kong, regulated by Hong Kong Monetary Authority. Business accounts cost HK$0–200 a month. Opening an account takes 3–5 days. Biz Virtual+ needs directors, shareholders and authorised signers who hold a Hong Kong identity card, and Hong Kong registered, business and correspondence addresses.
Hang Seng Bank Limited is a licensed bank in Hong Kong, authorised by the Hong Kong Monetary Authority, and a member of the HSBC Group. Deposits are protected by Hong Kong's Deposit Protection Scheme up to HK$800,000 per depositor per bank.
Why businesses pick Hang Seng Bank
- Remote opening in as fast as 3 business days
- No monthly fee on Biz Virtual+ for the first 12 months
- Outward FPS payments from HK$2.50 and free incoming FPS
- SWIFT transfers from HK$125 through Business e-Banking
- Commercial debit and credit Mastercards
Watch out for
- Biz Virtual+ needs a Hong Kong company with Hong Kong addresses, and directors and owners holding HKIDs
- HK$1,000 account opening fee, charged even if the account is not opened
- HK$200 a month below a HK$50,000 relationship balance after the first year
- Integrated Business Solutions needs HK$100,000 to avoid its HK$200 monthly fee
Business fit
Will Hang Seng Bank accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on Hang Seng Bank's published rules
Needs review
Hang Seng Bank works with Startups and SMEs, but does not publish the countries it accepts companies from.
Hang Seng Bank does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What Hang Seng Bank publishes about the businesses it takes on.
Who Hang Seng Bank serves
- Startups and SMEs
- Import and export
- Professional services
Not supported
Industries and countries Hang Seng Bank does not accept, from its own published lists.
Industries
- Not published
Countries
- Not published
Coverage
Where can you use Hang Seng Bank?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
HKD, CNY and major currencies
HKD and CNY by FPS; online FX in ten major currencies.
Payment reach
Not published
Who can apply
Company incorporation countries1 countries · show list
- Hong Kong SAR China
Owner nationality
Not publishedOwner residency
Not publishedCompany types
Limited companies, Partnerships, Sole proprietorships
Pricing
What does Hang Seng Bank cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
HKD 1,000
Monthly fee
HKD 0–200
depends on plan
Biz Virtual+ Account
Lowest costHKD 0 per month
HKD 1,000 setup · HKD 1,000 in year one
Integrated Business Solutions Account
HKD 200 per month
HKD 1,000 setup · HKD 3,400 in year one
Transaction fees
| Cost | Biz Virtual+ Account | Integrated Business Solutions Account | How it is charged |
|---|---|---|---|
| Incoming | |||
| SWIFT / international | HKD 65 | HKD 65 | Fixed fee |
| Local transfer from another bank | Free | Free | No charge · Incoming FPS |
| Outgoing | |||
| SWIFT / international | HKD 125 | HKD 125 | Fixed fee · Telegraphic transfer through Business e-Banking; HK$300 at a branch |
| Local transfer to another bank | HKD 2.5 | HKD 5 | Fixed fee · FPS up to HK$100,000; HK$5 above |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | Not published |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Apply online
Fill in the online application for Biz Virtual+ or Integrated Business Solutions.
- 2
Checks
Hang Seng reviews documents, verifies identities digitally and holds a KYC call.
- 3
Sign
Sign the account documents by e-Sign through an SMS link.
- 4
Account live
The account opens in as fast as 3 business days; apply for Business e-Banking separately.
Documents you need
Not published
FAQ
Your questions, answered.
Is Hang Seng Bank a bank?
Yes. Hang Seng Bank Limited is a licensed bank in Hong Kong, authorised by the Hong Kong Monetary Authority, and a member of the HSBC Group.
How much does a Hang Seng business account cost?
Opening costs HK$1,000 when you apply remotely. Biz Virtual+ is free for the first 12 months, then HK$200 a month unless your relationship balance is HK$50,000 or more.
Can I open a Hang Seng business account remotely?
Yes, for Hong Kong companies whose directors, shareholders and signers hold HKIDs, in as fast as 3 business days. Some applicants are asked to a face-to-face appointment.
Does Hang Seng accept companies registered outside Hong Kong?
Biz Virtual+ is for Hong Kong companies only. The Integrated Business Solutions Account tariff lists a HK$10,000 company search fee for overseas companies.
Alternatives
How Hang Seng Bank compares.
If Hang Seng Bank is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 Hang Seng BankThis pageBank |  | Small businessesFPS |
 HSBC Hong KongBank | | 12 currenciesBig bank |
 ZA BankBank | | Virtual bank11 currencies |
 StatrysMoney service operator |  | Hong Kong accountFree account |
 AirwallexE-money institution |    | Global accountsOnline businesses |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.