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HSBC Basic Banking Account with Independence

Dementia can affect all aspects of life for you and your family. If you or someone you know is living with dementia and will need help managing their money, our Basic Banking Account with Independence service could help.

Accountholders will still be able to perform everyday banking such as shopping for food and paying their bills, but they can rest assured knowing that their transactions are looked after by a third party that they trust. This legally-appointed third party will be able to oversee the financial arrangements made with us.

Basic Banking Account with Independence

This service offers those with living with dementia a new bank account for their everyday use. They can use it to withdraw cash, make payments by EPS and enjoy other basic banking services.

At the same time, the legally-appointed third party — who may be an attorney, guardian or member of the committee appointed by the High Court — can manage other HSBC accounts held by the person living with dementia and transfer funds into the Basic Banking Account with Independence account when needed.

Eligibility

This service is available to customers who:

  • are aged 18 or over
  • have a legally-appointed third party to manage their finances, such as an attorney appointed under an Enduring Power of Attorney (EPOA), a guardian or a High Court-appointed committee member.

Key features for the customer living with dementia

  • An HKD Statement Savings Account
  • An ATM card that can be used in supermarkets and shops, and to withdraw cash at ATMs
  • Any other HSBC accounts held will be kept secure and looked after by the legally-appointed third party

Rights and obligations of the legally-appointed third party

  • Responsibility to ensure that there's sufficient balance kept in the Basic Banking Account with Independence
  • Access to view the account balance and transaction history of the Basic Banking Account with Independence through monthly statements or at a branch
  • Ability to manage other HSBC accounts held by the customer living with dementia, and make payments, transfers and other transactions on their behalf by visiting a branch

How to open a Basic Banking Account with Independence

You'll need a registered Enduring Power of Attorney (EPOA), Guardianship Order or a committee appointed by the High Court under the Mental Health Ordinance will be needed to open such an account.

The person who appoints others to act for them by executing an Enduring Power of Attorney is referred to as the 'Donor', while the person or persons so appointed is referred to as an 'Attorney'.

1. Set up an EPOA

The EPOA must be signed at a solicitor's firm in Hong Kong while the Donor still has mental capacity. An EPOA will remain effective even after mental capacity is lost.

2. Register the EPOA with the High Court

The appointed Attorney can register the EPOA with the High Court with the help of a solicitor once the Donor's mental capacity is lost.

If an EPOA had not been executed before the Donor's mental capacity is lost, a family member or carer might be able to apply for a Guardianship Order or High Court Order, depending on the circumstances.

3. Visit a branch to open the account

The Donors and their appointed Attorneys / guardians / committee members can visit a branch to open a Basic Banking Account with Independence. Please bring along:

the registered EPOA, Guardianship Order or High Court Order

identification and proof of address for the appointed Attorneys / guardians / committee members

For more information on what you need to prepare in order to open an account, please see 'Points to note for account application'.

Designated Branch for Account Opening

Please click here to find the address and business hour of designated branches.

Hong Kong

  • 128 Queen's Road Central Branch
  • Aberdeen Centre Branch
  • Causeway Bay Branch
  • Chai Wan Branch
  • Hong Kong Office & Premier Centre
  • Hopewell Centre Branch
  • Pacific Place Premier Centre
  • Shau Ki Wan Branch
  • Shun Tak Centre Day & Night Plus
  • Westlands Garden Branch

Kowloon

  • 378 Nathan Road Branch
  • Kwun Tong Branch
  • Mei Foo Sun Chuen Branch
  • Mong Kok Branch & Premier Centre
  • Tai Yau Street Branch
  • Telford Gardens Branch
  • Tsim Sha Tsui Branch
  • Waterloo Road Branch
  • Whampoa Garden Branch

New Territories

  • Shatin Branch
  • Tsuen Wan Branch
  • Tuen Mun Town Plaza Branch & Premier Centre
  • Yuen Long Branch & Premier Centre

Frequently asked questions - customers living with dementia

Frequently asked questions - attorneys

If you require to print the content of this webpage, please click Basic Banking Account with Independence (PDF, 186 KB).