We provide multi-currency account services including cash deposit and withdrawal, term deposits, home mortgage loan, remittance, foreign currency exchange and rate enquiry.
Notes accounts: HKD, USD, JPY and EUR.
Exchange accounts: HKD, USD, JPY, EUR, GBP, CAD, AUD, SGD and NZD.
Yes, HSBC China's exchange service offers the latest exchange rates. Our foreign exchange service will automatically apply the latest exchange rate when your transaction is made. The exchange rate is a live rate, which is updated minute-by-minute during market hours.
The annual quota for individual settlement of foreign exchange is equivalent to USD50,000 per person per year. Within the quota, you may approach an HSBC branch with your valid ID or log on to Online Banking (single transaction amount via Online Banking cannot exceed USD20,000 or equivalent).
Conversion over the quota requires relevant supporting documents. You can approach HSBC to exchange foreign currency to Renminbi with valid identity certificates and supporting documents, eg invoice for daily purchase or contract (when converting a large sum eg for buying a car, home renovations etc).
If you are planning to purchase property* and the price in Renminbi exceeds the annual quota, it is necessary to provide the purchase contract.
* According to SAFE regulations, purchase of residential property for self use is permitted for overseas individuals (excluding Hong Kong, Macau, Taiwan residents and overseas Chinese) who have worked or studied in China for over one year. For Hong Kong, Macau, Taiwan residents and overseas Chinese who work/live/study in China are permitted to purchase residential property of certain size for self use.
There is no quota for overseas customers to purchase foreign currency. Valid identity certificate and the related evidential materials should be presented at HSBC local branches for application:
These FAQs are intended to provide an overview of the information on issues related to financial products or services, or regulatory requirements faced when undertaking financial activity in mainland China. Due to the diversity and complexity of financial products/services and local regulatory environment, these FAQs can only provide an outline of the issues. The information is provided for your reference only, and shall not be construed as legal, financial or any other professional advice. HSBC makes no guarantee, representation or warranty and accepts no responsibility for the accuracy updatedness and/or completeness of the information.
Latest update in Nov. 2016