The success and growth of a company depend on various factors, including cash flow management. That’s why many large enterprises choose to open bank accounts to be prepared for any financial needs. With a bank account, companies can manage their funds through online banking, avoiding the drawbacks of cash management. It also helps protect their legal rights and interests, preventing unauthorized use by criminals and safeguarding their assets.
However, choosing a bank account can sometimes be challenging. In this issue, Go Global Gem recommends one of the world’s largest banks and financial services institutions – HSBC.
HSBC Bank (Hongkong and Shanghai Banking Corporation Limited, commonly known as HSBC) is one of the largest banks and financial services institutions in the world. It serves approximately 40 million customers through its three main business segments: Wealth Management and Personal Banking, Commercial Banking, and Global Banking and Markets. HSBC has a global network that spans across Europe, Asia, the Middle East, Africa, North America, and Latin America, with operations in 63 countries and territories worldwide. HSBC Holdings PLC is listed on the stock exchanges in London, Hong Kong, New York, and Bermuda, with approximately 182,000 shareholders from 128 countries and territories around the globe.
1. Flexible banking via different account service solutions
- Fusion Free – $0 account opening fees, account service charges, domestic RMB transfer fees, HSBCnet monthly service fees and more;
- Fusion Entrepreneur/Fusion Elite – comprehensive account services with more preferential fee arrangement and $0 monthly service fees for the owner’s HSBC personal account once connected with the Fusion business account.
2. Integrated domestic and cross-border account services
- Free transfer between the accounts of HSBC Chinese small enterprises, including the accounts of overseas institutions;
- Relying on HSBC’s strong international network and the resources of the Guangdong-Hong Kong-Macao Greater Bay Area to provide customers with quality financial services through in-depth cross-border cooperation.
3. Convenient electronic channel
- Track your transactions in real-time. See your transaction statuses from the past 35 days instantly;
- Submit your balance of payments declaration online. Process your balance of payments declaration and remittances online to save time on making a paper filing;
- Submit your payment documents online. Create payment instructions and upload related payment documents on HSBCnet to save time on visiting a branch or filing by post;
- Confirm the nature of inward remittance online. Select the link in HSBCnotification email to confirm the nature of inward remittance online so you can receive payment more quickly, or even in real time if it doesn’t require a document review;
- Check and choose real-time exchange rates. Select the best available exchange rate right away when you make a foreign exchange transaction on HSBCnet.
4. Exclusive financing solution
- Get an unsecured loan with a maximum credit line of RMB700,000;
- Repay as you go with a principal after interest repayment arrangement over a period of up to 12 months;
- Apply online, and we’ll issue pre-credit approval to you within 1 working day at the earliest.
5. Preferential cross-border transactions
- preferential packages for single or multiple remittances;
- Leverage our global network for faster, more secure remittances (Send remittances from HSBC China to HSBC Hong Kong within the same day, for free);
- Enjoy exclusive rates on your foreign exchange transactions. HSBC supports 10 major currencies and other minor currencies around the world.
Note: please consult us for more information.
Required account opening information for companies
- Passports + ID cards of all directors;
- Personal resume of the actual controller;
- Full set of documents of Singapore Company;
- Lease contract of the actual operating address of the Singapore Company (if any);
- If there are affiliated companies, please provide the business license, website address, and bank statements of the past 6 months;
- Any invoice, contract, bill of lading/customs declaration from the Singapore company (as proof of business operation, if not, provide the associated company’s);
Note: The above information is compiled from the official website of HSBC
Do you have any questions about opening an HSBC account for your company? Feel free to send us a private message or leave a message. Go Global Gem has deep cooperation with Singapore DBS Bank, United Overseas Bank, Citibank, etc., and can provide one-stop financial planning service solutions.
For enquires please reach out to us: