Hong Kong's Main Banks and Account Tiers: Integrated Accounts, Wealth Management Thresholds, Below-Balance Fees and Digital Banks

Personal accounts at Hong Kong's main banks are generally divided into tiers by total relationship balance (TRB): a basic integrated account, a wealth management or priority banking tier, a private wealth tier and, with a higher threshold again, private banking. The tier determines which services you receive and whether a below-balance fee applies if you fall short of the threshold. When choosing a bank, rather than asking "which one is easiest to open", it is more useful to start with which tier your assets fall into and how that tier's fees are calculated.

This page uses the published terms of The Hongkong and Shanghai Banking Corporation (HSBC), Bank of China (Hong Kong) (BOCHK), Hang Seng Bank and Standard Chartered Bank (Hong Kong) as examples. All figures are as at 2026-10-24; each bank's latest fee schedule prevails. This page does not rank banks and does not recommend any particular bank or account.

How account tiering generally works

Personal accounts at Hong Kong's large retail banks fall broadly into four tiers:

How total relationship balance is calculated varies by bank. It commonly includes deposits, investments (securities, funds, bonds) and accumulated premiums on designated insurance policies, and some banks also count loan or overdraft balances. The calculation period also differs: some use "the previous calendar month", others "the average daily balance over the past 3 months". With the same HK$1,000,000 threshold, whether you qualify can depend on the method used.

Private banking thresholds, services and fees are covered by our sister site privatebank.hk; this page stops at the wealth management tier.

Each bank's published terms

The Hongkong and Shanghai Banking Corporation (HSBC)

HSBC's new arrangement for non-HKID holders is the only public example on this page that explicitly sets fees according to whether the customer holds a Hong Kong identity card. Readers planning to open an account with a passport or Exit-entry Permit should confirm which balance requirement applies to them before applying.

Bank of China (Hong Kong) (BOCHK)

BOCHK publishes four tiers: i-Free, Enrich Banking, Wealth Management and Private Wealth. Under its terms, the Private Wealth tier is an upgrade arrangement for Wealth Management customers, and applicants must be at least 18.

Hang Seng Bank

Hang Seng calculates the balance on the "previous calendar month", unlike banks that use a 3-month average. Its total relationship balance includes many asset types, such as deposits, gold accounts, securities and funds.

Standard Chartered Bank (Hong Kong)

Standard Chartered charges its maintenance fee quarterly and decides on a waiver using the 3-month average daily balance. The fee schedule also lists different threshold arrangements for mortgage and payroll customers, so readers should check the original schedule against their own circumstances.

Virtual banks: positioning, account opening and limits

A virtual bank is a licensed bank that delivers retail banking services mainly over the internet, without physical branches. The HKMA granted virtual bank licences to 8 institutions between March and May 2019, and they began operating during 2020. The HKMA's 2024 review report noted that all virtual banks open accounts remotely. On 2024-10-25 the relevant guideline was revised and renamed the Guideline on Authorization of Digital Banks, defining these as banks that "deliver banking services wholly or primarily through the internet". The current list of licensed banks is in the HKMA's Register of Authorized Institutions.

Virtual banks can serve as tools for everyday payments and savings. Because accounts are opened only through the app, whether you can apply depends on which identity documents the bank accepts and where you are located; non-HKID holders and Mainland residents should check each bank's terms first. The new regulatory position on remote on-boarding is covered in Remote account opening and digital banks.

Fee changes and what to check

Hong Kong bank fees do change. Under the Code of Banking Practice issued by the Hong Kong Association of Banks and the DTC Association and endorsed by the HKMA (section 6.3 of the version revised on 2023-12-07), a bank should give affected customers at least 30 days' notice before changing fee levels, including the basis on which fees are calculated. Where a material change to terms is to the customer's disadvantage and the customer terminates the service within the notice period, the bank should not charge a termination fee.

Before opening an account, it is worth checking each of the following:

1. The balance threshold for the target tier and the calculation period (previous calendar month or 3-month average);
2. The amount of the below-balance fee, how often it is charged (monthly or quarterly) and the waiver conditions;
3. Whether there are separate requirements for non-HKID holders;
4. Which assets count towards total relationship balance, and whether accumulated insurance premiums are included;
5. Whether new accounts have a waiver period for the first few months (such as the first 6 months for HSBC Premier).

The limit and scope of protection for the deposits themselves are covered in Deposit protection; thresholds in Hong Kong and Singapore are compared in Hong Kong vs Singapore account opening.

How Singapore compares

Singapore banks also tier by assets, but thresholds are set in Singapore dollars. According to bank websites (accessed 2026-10-23/24), the threshold for DBS Treasures, OCBC Premier and UOB Privilege is S$350,000, while HSBC Singapore Premier and Standard Chartered Singapore Priority Banking are at S$200,000. Remote account opening for foreign non-residents is often tied to this tier: for example, foreigners opening an OCBC Premier account remotely through the app must deposit or invest at least S$350,000 in new funds.

When reading these against Hong Kong's HK$1,000,000 threshold, bear in mind that the exchange rate, the calculation method and the assets counted all differ, so a direct conversion to decide "which is lower" is not appropriate. Singapore tiers and fees by bank are covered in bankaccount.sg priority and private banking thresholds.

If you would like help understanding account tiers in light of your asset level, you can register your enquiry through this site's contact details. This page is not a recommendation of any bank or account.