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Renminbi Services

What are Renminbi Services?

HSBC provides you with diversified and convenient cross-border Renminbi banking services, so that you can benefit from the strengthening economic links with mainland China.

Select a Renminbi service:

What is a Renminbi Savings Account?

A simple and flexible account that you could manage your Renminbi freely via a variety of channel options; meanwhile, interest can be earned from your daily balance.

Who does it suit?

Customers who would like to deposit Renminbi but need flexibility in managing their savings

Features

  • No minimum balance requirement and service fees for HSBC Premier, HSBC Advance and Personal Integrated Account customers
  • Complete Renminbi transactions conveniently through Renminbi transfer, exchange and remittances services.

Find out more

Benefits

  • Earn bonus interest2 on your account if your Total Relationship Balance is HKD1 million or above
  • Set-up standing instructions3 to complete regular remittances automatically
  • 24 hours access to your account via HSBC phonebanking and Internet Banking
  • Personalised service through HSBC's extensive branch network in Hong Kong and China

Next steps...

Visit a HSBC branch to open an account

Need Help?

  • Call (852) 2233 3000

Manage your account online...

Logon to HSBC Internet Banking to buy/sell Renminbi, place Renminbi time deposits, setup Renminbi Switching instructions and many more.

What is a Renminbi Current Account?

A Renminbi Current Account gives you enhanced flexibility in conducting transactions in RMB and allows you to issue cheques.

Who does it suit?

Customers who would like to make payment by cheques.

Features

  • Issue cheques in Renminbi4
  • No maximum limit on the account balance.

Find out more

Benefits

  • Access your account 24 hours a day via HSBC Internet Banking or Phonebanking

Next steps...

Visit a HSBC branch to open an account

Need Help?

  • Call (852) 2233 3000

Manage your account online...

Logon to HSBC Internet Banking to buy/sell Renminbi, place Renminbi time deposits, setup Renminbi Switching instructions and many more.

Why place a Renminbi Time Deposit?

A Renminbi Time Deposit provides you with a safe way to earn higher interest rates than savings account over a fixed period.

Who does it suit?

Customers who do not need immediate access to their funds and would like to gain a higher interest return over a fixed period of time.

Features

  • Minimum deposit amount of RMB10,000
  • Range of tenors: 1-week, 2-week, 1-month, 2-month, 3-month, 6-month, 9-month and 12-month

Benefits

  • Higher interest return than with a savings account
  • 24-hour access to your account through HSBC Internet Banking and phonebanking

Next steps...

HSBC Internet Banking Users

Not yet a HSBC Internet Banking User

Need Help?

  • Call (852) 2233 3000

What is a RMB NDF?

RMB NDF is a currency exchange derivative product10 which allows you to exchange pre-determined amount of Renminbi at a set exchange rate on a fixed date in the future.

Who does it suit?

Customers who would like to hedge their Renminbi exposures, or have a Renminbi investment plan that they wish to pursue11.

There are 2 types of RMB NDF contracts available:

  1. Buy expected Renminbi - if you hold the view that Renminbi will appreciate and the expected future exchange rate be higher than the forward exchange rate.
  2. Sell expected Renminbi - if you hold the view that Renminbi will depreciate and the expected future exchange rate be lower than the forward exchange rate.

Find out more

Features

  • Minimum contract amount is USD10,000 but all you need is to place a deposit 25% of the contract amount as lien.
  • There is no physical delivery of Renminbi, and all transactions are settled in US Dollars.
  • Both customer and the Bank are obliged to exchange a pre-determined amount of Renminbi at the agreed forward exchange rate on that agreed date in the future.

Next steps...

Visit a HSBC branch to purchase RMB NDF

Need Help?

  • Call (852) 2233 3000

Manage your account online...

Logon to HSBC Internet Banking to buy/sell Renminbi, place Renminbi time deposits, setup Renminbi Switching instructions and many more.

RMB cash withdrawal is available at Express Banking in the following locations

  • All Express Banking in Admiralty, Central, Causeway Bay, Tsim Sha Tsui and MTR East Rail Stations.
  • Selected Express Banking in North Point, Quarry Bay, Wan Chai, Kowloon Tong, Kwun Tong, Mong Kok, Prince Edward, Fanling, Kwai Fong, Sha Tin, Tai Po, Tin Shui Wai, Tseung Kwan O, Tsuen Wan, Tuen Mun and Yuen Long.
  • Please click here for detailed location list.

Eligible accounts

You may select to withdraw RMB from:
  • HKD account (i.e. Passbook Savings Account, Current Account, SuperEase Account, HSBC Premier, HSBC Advance or Personal Integrated Account) recorded on your ATM card.
  • RMB Savings account under the Integrated Account (i.e. HSBC Premier, HSBC Advance or Personal Integrated Account) recorded on your ATM card.

Withdrawal amount

  • Maximum daily withdrawal limit up to HKD40,000 equivalent, subject to daily exchange limit of up to RMB20,000 per personal customers who are Hong Kong residents.
  • There is no handling fee.

What are Renminbi Exchange Services?

Exchange your Hong Kong dollars to Renminbi and vice versa with an account transfer or note exchange to meet your currency needs
Find out more

Who does it suit?

Customers who need to convert Hong Kong Dollar to Renminbi and vice versa for travelling and investments

Features

  • With the Renminbi Switching Service6, you can buy/sell Renminbi when your pre-set exchange rate and/or frequency (e.g. daily) criteria are met. You can also set the debit account minimum balance to make sure there are funds in your account
  • Exchange notes7 at any branch in Hong Kong8

Benefits

  • Renminbi switching instructions can be placed via HSBC Internet Banking or manned phone banking (HSBC Premier customers only)

Next steps...

HSBC Internet Banking Users

Not yet a HSBC Internet Banking User

Need Help?

  • Call (852) 2233 3000

Risk Disclosure

Currency conversion risk - the value of your RMB deposit will be subject to the risk of exchange rate fluctuation. If you choose to convert your RMB deposit to other currencies at an exchange rate that is less favorable than the exchange rate in which you made your original conversion to RMB, you may suffer loss in principal.

RMB is currently not freely convertible and subject to regulatory restrictions (which might be changed from time to time). For personal customers who are Hong Kong residents, conversions conducted through RMB deposit accounts with banks in Hong Kong are subject to the limit of up to RMB20,000 per person per day. Personal customers who are Hong Kong residents should allow time for conversion of RMB from/to another currency of an amount exceeding the daily limit. Non-Hong Kong residents are not required to observe the corresponding limits and requirements regarding Renminbi conversions for Hong Kong residents.


Renminbi Savings Account

  1. All customers can open an Renminbi savings account at HSBC branches in Hong Kong. HSBC Premier customers can also apply for Renminbi savings service via our 24-hour manned phonebanking service. No delegation arrangement is allowed for Renminbi accounts. Renminbi notes deposit and withdrawal service accepts Renminbi notes of RMB50 denomination or above only.
  2. The balance of Renminbi savings account will be included in the calculation of the Total Relationship Balance. Bonus interest rate will be applied if the customer's Total Relationship Balance is over HKD1 million. When calculating the credit limit of secured HKD overdraft for HSBC Premier, HSBC Advance or Personal Integrated Account customers, the current advance ratio of Renminbi deposits is 90%. The use of secured overdraft is subject to the relevant terms and conditions.
  3. HSBC Premier customers can also set up standing instructions via our 24-hour phonebanking service.
Renminbi Current Account
  1. RMB current account for Hong Kong residents is i) to issue cheques in Hong Kong with any amount and ii) to retailers across Guangdong Province (including Shenzhen) for consumer spending with up to RMB 80,000 amount for each cheque and maximum amount of RMB80,000 in total for settlement per day. In the event that the total amount of all the cheques issued by the same customer in Guangdong Province (including Shenzhen) presented on a particular clearing day exceed RMB80,000, one or more of the cheques will be returned in order to keep the total settlement amount of the relevant cheques for the day to be within the limit of RMB80,000. A Return Cheque Fee will be levied. RMB Cheques can be issued to individuals & companies in Hong Kong with a valid RMB account which can accept RMB cheque deposits. Please check that the individual or company is willing to accept RMB Cheques as a means of payment. RMB denominated cheques issued by non-Hong Kong residents are for use in Hong Kong only and are not for use in the Mainland.
Renminbi Time Deposit
  1. Renminbi time deposit account must be opened with a Renminbi savings account under the same name and account number. All Renminbi time deposit or withdrawal transactions must be made through the corresponding Renminbi savings account.
Renminbi Exchange Services
  1. Renminbi Switching Service shares the same transaction limit of RMB20,000 per person per day with the Renminbi exchange services through HSBC accounts for Hong Kong residents. Customers must have a valid Renminbi Savings Account for the Renminbi Switching instructions to be effected.
  2. Renminbi notes exchange services are applicable to notes of RMB50 denomination or above only.
  3. Day & Night Banking Centres are excluded.
Renminbi Non-Deliverable Forward (RMB NDF)
  1. This product is not for speculation.
  2. Gains/losses of the RMB NDF contract are dependent on the contract forward rate.