OCTIS vs HSBC, Hang Seng and BOCHK business accounts in Hong Kong

Opening fee, monthly fee, balance to waive it and how long each takes. Figures are third-party and differ by source.

Last checked 9 November 2026 · 9 sources

Otty's short answer

For a Hong Kong-incorporated company with local directors, DBS and Bank of China (Hong Kong) are reported as the quickest to open, from the same working day and from three working days. Hang Seng and HSBC sit in the middle on cost. Standard Chartered asks for the highest balance to waive its fee. All five are licensed banks. Treat every number here as a guide and confirm the tariff.

Side by side

Swipe to see every column

What matters	OCTISHong Kong company + OCTIS global plan	HSBC	Hang Seng Bank	Bank of China (Hong Kong)	Standard Chartered Hong Kong	DBS Hong Kong
Account opening fee	Set by our licensed partner; quoted before you commit	HK$1,300 online; HK$1,600 branch	HK$1,000 remote	HK$1,200; waived online	HK$1,200 local; HK$10,000 overseas	Often waived by promotion
Monthly fee if not waived	Set by our licensed partner; quoted before you commit	From HK$200	Check tariff	Check tariff	HK$120 to HK$200	Not confirmed
Balance to waive fee	Set by our licensed partner; quoted before you commit	HK$50,000 to HK$500,000	HK$50,000 to HK$100,000	HK$50,000 to HK$80,000	HK$100,000 to HK$200,000	HK$50,000
Start-up fee relief	Set by our licensed partner; quoted before you commit	12-month waiver on Sprint	HK$100 start-up package, year 1	HK$80 start-up, year 1	HK$100 SME package	Not published
Typical opening time	Set up through licensed partners alongside your incorporation	About 3 working days online	3 days to 2 weeks	From 3 working days	1 to 2 weeks	Same day if eligible
CHATS fee (reported)	Set by our licensed partner; quoted before you commit	HK$75 to HK$200	HK$75 to HK$200	HK$55 to HK$180	HK$60 to HK$180	Not covered
FPS local transfers	Set by our licensed partner; quoted before you commit	Free	Free online	Free	Free online	Not covered
Remote opening, overseas company	Hong Kong company with an international account via licensed partners	Complex; branch likely	Limited to HK-incorporated	Limited to HK-incorporated	Overseas fee HK$10,000	Not allowed
Regulator	OCTIS is not a bank; accounts sit with licensed partners	HKMA licensed bank	HKMA licensed bank	HKMA licensed bank	HKMA licensed bank	HKMA licensed bank
Deposit protection	Not an OCTIS product	Up to HK$800,000	Up to HK$800,000	Up to HK$800,000	Up to HK$800,000	Up to HK$800,000

Data sources & disclaimer: Comparison data was compiled from publicly available sources — including the competitors' own published pricing and feature pages — captured on 9 November 2026. Figures reflect the typical or advertised pricing at that time and may have changed since; plans, inclusions and prices vary by provider, region and promotion. OCTIS is independent and not affiliated with the named companies; all trademarks belong to their respective owners. This comparison is provided in good faith for general information only and is not professional, legal or financial advice — please verify current details with each provider before deciding.

Which one fits you

OCTIS · Hong Kong company + OCTIS global plan
Choose OCTIS if you want one team to set up the Hong Kong company and arrange the business account, wherever the owners live.
HSBC
Choose HSBC if you want the broadest bank for trade, cards and lending and can meet the fee-waiver balance.
Hang Seng Bank
Choose Hang Seng if you want a mid-priced local bank with a remote application and a start-up fee package.
Bank of China (Hong Kong)
Choose BOCHK if you trade with Mainland China or want one of the quickest openings and a lower waiver balance.
Standard Chartered Hong Kong
Choose Standard Chartered if you have international operations and can hold a larger average balance.
DBS Hong Kong
Choose DBS if you want to open fast as a Hong Kong-incorporated company with local owners.

What the table does not show

Why the numbers differ between sources

HSBC publishes its balance tiers (HK$50,000, HK$100,000 or HK$500,000 by account) on its own site, but the below-balance fee amount sits in its tariff, so the HSBC fee is the lowest reported. Hang Seng and BOCHK monthly fees vary by account and balance and we could not confirm one figure, so we show "Check tariff". The other figures come from Aspire (July 2025 and mid-2026), Statrys (March 2026) and Airwallex (April 2026) comparison guides. All three sell competing accounts. They disagree on some balances, for example Hang Seng at HK$50,000 or HK$100,000, and BOCHK at HK$50,000 or HK$80,000. We show ranges. Confirm the current tariff and any start-up promotion with the bank before you apply.

What slows a bank account down

Documents and ownership structure. A Hong Kong company with one or two local directors and no corporate shareholder is the simplest case. Overseas-owned or multi-layer companies can face 4 to 12 weeks, an in-person director visit and requests for business plans, contracts and source of funds, according to a 2026 WorldFirst guide. DBS does not allow remote opening for overseas companies.

Bank or fintech first?

A bank gives deposit protection up to HK$800,000 per depositor per bank, lending and a bank reference. A fintech account (Airwallex, Statrys, Aspire) opens faster and costs less on FX but is not a bank. Many companies open one of each: a bank for the main balance and a multi-currency account for overseas payments.

Where OCTIS fits

Banks send statements; your accountant needs them tied to invoices. OCTIS bookkeeping works from statements at any of these banks, and we handle Hong Kong incorporation, company secretary work and transfer, profits tax and audit by a Hong Kong CPA practice. OCTIS is not a bank, does not hold your money and has no partnership with any provider here. Ask about 10–30% off your current bill.

See OCTIS pricing

Frequently asked questions

Which bank is best for a new Hong Kong company?

It depends on your owners and activity. DBS and Bank of China (Hong Kong) are reported as quickest to open for Hong Kong-incorporated companies. HSBC has the widest services. Hang Seng offers a start-up fee package. Standard Chartered needs the highest balance to waive fees.

How much does a Hong Kong business bank account cost?

Reported opening fees are HK$1,000 to HK$1,300 for local companies at most banks, with overseas companies paying HK$10,000 or more. Monthly fees start around HK$200 at HSBC and vary by account elsewhere, unless you keep a minimum balance, which HSBC sets at HK$50,000, HK$100,000 or HK$500,000 by account.

How long does it take to open a business bank account in Hong Kong?

Reported times range from the same working day at DBS for eligible companies to one to two weeks at Standard Chartered. Overseas-owned companies can wait 4 to 12 weeks. Complete documents are the main thing you control.

Are Hong Kong business bank deposits protected?

Eligible deposits at licensed banks are protected by the Deposit Protection Scheme up to HK$800,000 per depositor per bank. Fintech accounts such as Airwallex, Statrys and Aspire are not banks and are outside the scheme.

Do I need a minimum balance for a Hong Kong business account?

Most banks let you open with a small deposit but charge a monthly fee if your average balance falls below a threshold, reported between HK$50,000 and HK$200,000. HSBC also asks for a HK$10,000 initial deposit on its main accounts.

Sources

Checked on the date above. Links open the provider's or regulator's own page.