8 Major Premium Banking Services Comparison: fees, offers & requirements
Updated: 5 Jan 2024
Written bymoneyhero
In this article, the team at MoneyHero aims to provide readers with a bird’s eye view of the range of premium bank account services offered by 8 major banks in Hong Kong. While all our articles are thoroughly researched and updated regularly, the information we offer serves as a point of reference only and we do recommend that you speak with a bank representative or consult the bank website for a full and final representation of offers and interest rates.
Comparing Premium Accounts offered by Major Banks in Hong Kong
CITIBANK - Citigold
Initial deposit: HK$1,500,000
Account service fee: HK$300/month
Service fee waiver requirement:
Total daily relationship balance of HK$1,500,000 or above
Welcome offers:
- Apply via mobile app to enjoy an extra offer of HK$500 cash rebate
- Cash rebate for new funds :
|
New Funds Amount |
Cash Rebate |
|
≥ HK$5,000,000 |
HK$18,500 |
|
≥ HK$2,500,000 |
HK$10,500 |
|
≥ HK$1,500,000 |
HK$6,000 |
- Maintaining designated product balance for 6 months:
|
Designated Product Balance |
Cash Rebate |
|
≥ HK$5,000,000 |
HK$20,000 |
|
≥ HK$2,500,000 |
HK$12,000 |
|
≥ HK$1,500,000 |
HK$6,000 |
|
≥ HK$650,000 |
HK$2,600 |
- New clients who deposit their monthly salaries into the Citigold will enjoy the following Payroll Account Offer:
|
Monthly Salary |
Cash Rebate |
|
≥ HK$80,000 |
HK$800 |
|
≥ HK$50,000 |
HK$500 |
|
≥ HK$30,000 |
HK$300 |
Linked credit card: Citi Prestige MasterCard
Citigold Account
Account opening reward up to HK$96,500+
Limited-time New fund offer
- Eligible Credit Card Customers is required to open a Citigold account during the Promotion Period and fulfill designated requirements may enjoy up to HK$30,000 cash rebate.
- New customers who fund in the designated new funds amount specified below within 30 calendar days upon account opening can enjoy HK$2,000 cash rebate
| New Funds amount (HK$ or equivalent) | Cash Rebate (HK$) |
|---|---|
| HK$6,000,000 or above | HK$30,000 |
| HK$4,000,000 - HK$5,999,999 | HK$20,000 |
| HK$2,500,000 - HK$3,999,999 | HK$13,000 |
| HK$1,500,000 - HK$2,499,999 | HK$9,000 |
Investment and Insurance Balance Offer
- New Citigold customer is required to fulfill “Designated Investment Product(s) Balance” may enjoy up to HK$60,000 cash rebate
| New Investment and Insurance Balance Growth (HK$ or equivalent) | Cash Rebate (HK$) |
|---|---|
| HK$8,000,000 or above | HK$60,000 |
| HK$5,000,000- HK$7,999,999 | HK$32,500 |
| HK$3,000,000 - HK$4,999,999 | HK$18,000 |
| HK$1,000,000 - HK$2,999,999 | HK$6,000 |
| HK$500,000 - HK$999,999 | HK$3,000 |
Professional Investor sign-up offer
- To be eligible for the Professional Investor ("PI") sign-up offer, a new Citigold Private Client/Citigold customer is required to fulfill the following requirements:
i. Fulfill the requirements stated in respective banking account’s New Funds Offer and sign the Welcome Offer Gift Acknowledgement & Hold Fund Form; and
ii. Sign up as a PI by completing the PI Declaration Form with the Bank by the date specified below and maintain the PI status till the fulfillment date:
iii. Maintain HK$8,000,000 or equivalent of daily combined balance as of the below stated date - A customer's PI status is subject to the Bank’s validation on the eligibility of the customer's portfolio.
Banking service Account Opening Date Completion of actions in the above issue Maintance the required daily combined balance as of Fulfilment Date Cash rebate (HK$) Citigold September 1, 2026 - September 30, 2026 On or before February 28, 2027 February 28, 2027 On or before April 30, 2027 HK$1,000
Engagement Offer
-
To be entitled to the Engagement Offer, a new customer is required to open a Citigold Private Client or Citigold account during the Promotion Period and fulfill the following requirements:
- i. Fulfill the requirements stated in respective banking account's New Funds Offer and sign the Welcome Offer Gift Acknowledgement & Hold Fund Form; and
- ii. Complete the below action items and maintain the status till the fulfillment period
- Login to Citi Mobile® App at least once; and
- Complete Investment Risk Profile Questionnaire; and
- Activate debit card
Mortgage Offer
- To be entitled to relevant offers, new customer must
i. Fulfill the requirements stated in respective banking account’s New Funds Offer and sign the Welcome Offer Gift Acknowledgement & Hold Fund Form; and
ii. Successfully draw down a mortgage loan from the Bank during the date specified below and maintain the mortgage loan during the entire promotion and fulfillment period.Account Opening Date Completion of actions in the above clause Fulfilment Date Cash rebate (HK$) September 1, 2026 - September 30, 2026 On or before May 31, 2027 On or before July 31, 2027 HK$5,000
Limited Time Deposit Offer
- Enjoy Preferential HKD 3 Months Time Deposit rates of up to 4.5% p.a. ,USD 3 Months Time Deposit rates of up to 5.4% p.a. (until September 30, 2026)
- From September 1 to 30, 2026, Citi Credit Card customers + who successfully apply for Citigold will enjoy extra 1.5% Time-deposit top up rebate*!
Exclusive Time Deposit Top-up Rebate for “Citi Credit Card Customers”
-
From September 1 to 30, 2026, Citi Credit Card customers + who successfully apply for Citigold will enjoy extra 1.5% Time-deposit top up rebate*!
- +Citi credit card customers refer to customers who are the primary cardholder of an approved and valid Citi credit card as of October 31, 2026 and the application of Citi credit card submitted on or before banking account opening date.
- *1.5% p.a. Exclusive Time Deposit Top-Up Rebate refers to 3-month time deposit in HKD, USD or RMB and set up within the Time Deposit Booking Date with new funds. Any time deposit shorter than 3 months is deemed ineligible. The aggregate principal amount of Eligible Time Deposit set up is capped at HK$1,500,000 equivalent for Citigold customers.
Customer Support
- 24-hour Citigold Hotline
- Citi Live Chat: supports text/audio/video chat
Terms and conditions apply. All info and offers are subjected to Citibank's official website.
Fees You Need to Know
- Service Fee: HK$300
- Paper Statement Fee: HK$300 (Average Daily Relationship Balance of HK$1,500,000: Waived)
- Account closed by customer within 6 months from the date of opening: HK$500
- ATM Card Annual Fee: Free
All offers are not applicable to the following customers:
- existing banking clients of Citibank (Hong Kong) Limited and / or Citibank, N. A. (Citibank, N.A., organized under the laws of U.S.A. with limited liability) (collectively, “the Bank”) ; OR
- clients who had a banking relationship with the Bank during the previous 12 months prior to the account opening month; OR
- clients who had a Citigold Private Client/Citigold banking relationship with the Bank during the previous 36 months prior to the account opening month.
Investment involves risk.
Foreign exchange involves exchange rate risk.
Terms and conditions apply. Please refer to Citi Hong Kong's website for details.
DBS - DBS Treasures
Initial deposit: HK$1,000,000
Account service fee: HK$200/month
Service fee waiver requirement: Total monthly relationship balance of HK$1,000,000 or above
Welcome offers: (until 31 October 2023)
- Maintaining a monthly total relationship balance (excluding any time deposits) of HK$1,000,000 or above for a designated period, completing designated transactions, and downloading and logging in to DBS digibank HK app successfully to enjoy the following rewards:
|
Offer |
Requirement |
Reward |
|
New Funds Reward |
Monthly total relationship balance of HK$1,000,000 or above |
5.1% Total Savings Interest Rate |
|
Payroll Reward |
Receiving payroll in designated HKD Current & Savings Payroll Account |
HK$800 |
|
ATM Card Reward |
Successfully applying for DBS ATM Card or DBS Octopus ATM Card and completing a transaction on local or overseas retail spending in HKD or any foreign currency or reloading amount by Octopus Automatic Add Value Service with the card |
HK$200 |
|
New Customer Reward |
New to DBS or an existing DBS Credit Card Customer who joins DBS Treasures, setting up Wealth Management Accounts and completing Financial Needs analysis |
HK$200 |
|
Overseas Transfer Reward |
Successfully performing a designated online overseas transfer transaction of HK$10,000 (or its equivalent) or above |
HK$400 |
|
Product Balance Reward |
Maintaining designated insurance balance |
HK$3,000 |
|
Investment Funds Transfer-in Reward |
HK$200,000 or above |
Up to HK$20,000 (HK$400 for every HK$100,000 transfer-in) |
|
Investment Transaction Reward |
HK$100,000 or above |
Up to HK$12,000 (HK$200 for every HK$100,000 investment transaction) |
BEA SupremeGold
Initial deposit: HK$500,000
Account service fee: HK$200/month
Service fee waiver requirement:
- Average daily relationship balance of HK$500,000 or above; or
- Average daily investment balance of HK$300,000 or above; or
- Aggregate payroll amount in preceding month of HK$60,000 or above; or
- Aggregate mortgage loan drawdown amount of HK$3,000,000 or above; or
- Aggregate annual premium for AIA’s life insurance policy of HK$100,000 or above
Welcome offers: (until 31 December 2023)
|
Initial funds |
Credit card free spending credit |
|
|
New-to-bank customers |
Upgraded customers |
|
|
First HK$500,000 |
HK$1,000 |
HK$500 |
|
Every additional HK$500,000 |
HK$500 (total of up to HK$3,500) |
NIL |
|
Offer |
Requirement |
Reward |
|
Auto-payroll Rewards |
Arranging auto-payroll |
1.5% p.a. Bonus Interest Rate and HK$200 cash reward |
|
Mobile Banking Rewards |
First time logging in to the mobile banking |
HK$100 cash reward |
|
Completing one transfer through "Transfers" function |
HK$50 cash reward |
|
|
Branch Exclusive Reward (exclusive to new-to-bank customers) |
Opening the account through a BEA branch and deposit designated initial funds and fulfill the account opening requirements within the first 2 weeks |
Plaza Premium First Hong Kong Airport Lounge vouchers for two |
|
Investment Balance Reward (exclusive to new-to-bank customers) |
Designated investment product balance ≥ HK$200,000 |
HK$2,000 credit card free spending credit |
|
Investment Rewards |
Opening an investment account and completing designated investment product transactions |
Up to HK$400 cash reward |
|
Investment Transaction Reward |
Activation: accumulated designated investment transactions ≥ HK$100,000 |
HK$500 credit card free spending credit |
|
Transaction: accumulated designated investment transactions of every HK$500,000 |
HK$500 credit card free spending credit (Up to HK$5,000) |
Other rewards:
- HK$0 brokerage fee for trading local securities and A-shares through electronic channels for 3 months
- Exclusive first-time fund subscription fee as low as 0.88%
- Preferential time deposit rate for HKD time deposit
Linked credit card: BEA SupremeGold World Mastercard
BOC Wealth Management
Initial deposit: HK$1,000,000
Account service fee: NIL
Welcome offers: (until 31 December 2023)
|
Total relationship balance growth amount |
Credit card free spending credit |
|
HK$5,000,000 to <HK$8,000,000 |
HK$3,200 |
|
HK$3,000,000 to < HK$5,000,000 |
HK$1,200 |
|
HK$1,000,000 to < HK$3,000,000 |
HK$700 |
Rewards for new to payroll customers:
- Registering and using payroll account, and completing two designated transactions on mobile: free spending credit of HK$600
- Rewards of foreign exchange via mobile: $600 cash reward for accumulated foreign exchange amount of HK$500,000 to below HK$1,500,000; $2,300 for HK$1,500,000 or above
- New/existing securities account buying and selling HK stocks, A shares and US stocks: HK$0 brokerage fee for 6 months
- 0% fund subscription fee for first subscription made via Smart Invest and HK$100 for new customers
Other rewards:
- Depositing HK stocks or A shares via CCASS: up to $4,000 cash reward
- Preferential rates for HKD savings for 100 days for new customers
Linked credit card: BOC Cheers Card Visa Infinite
HSBC Premier
Initial deposit: HK$1,000,000
Account service fee: HK$380/month
Service fee waiver requirement: Total relationship balance of HK$1,000,000 or above (6-month below-balance-fee waiver)
Welcome offers: (until 30 December 2023)
|
Total Relationship Balance |
Reward |
|
HK$1,000,000 or above |
Up to HK$800 cash reward |
|
New funds |
Reward |
|
HK$8,000,000 or above |
Up to HK$17,500 cash reward |
|
HK$3,000,000 to below HK$8,000,000 |
Up to HK$8,500 cash reward |
|
HK$1,000,000 to below HK$3,000,000 |
Up to HK$5,300 cash reward |
|
Offer |
Requirement |
Reward |
|
Wealth management products take-up offer |
Taking up designated products with an accumulated value of HK$300,000 or above |
Up to HK$2,500 cash reward |
|
Stocks transfer-in/deposit offer |
Transferring in or depositing Hong Kong stocks, China A shares and US stocks |
0.2% cash rebate (up to HK$5,000) |
Selected insurance product take-up offer |
Accumulated Annualised New Premium of HK$100,000 or above |
Up to HK$5,000 cash reward |
|
Auto payroll offer |
Setting up a monthly auto payroll |
Up to HK$1,200 |
Online upgrade offer |
Existing customers who successfully upgrade via Personal Internet Banking or HSBC HK App |
HK$700 |
|
Mobile account opening offer |
New customers who successfully open account via HSBC HK App |
HK$700 |
Bond subscription offer |
Subscribing for any bonds of HK$500,000 or above |
HK$1,250 cash rebate for every HK$500,000 |
Linked credit card: HSBC Premier Mastercard
Standard Chartered Priority Banking
Eligibility:
New clients:
- Minimum average daily relationship balance HK$1,000,000 or above; or
- Mortgage outstanding amount of HK$5,000,000 or above; or
- Minimum monthly salary of HK$80,000 or above
Account service fee: HK$900/quarter
Service fee waiver requirement: Total relationship balance of HK$1,000,000 or above
Welcome offers: (until 31 Dec 2023)
New clients welcome offers:
|
New funds amount |
Reward |
|
First HK$1,000,000 |
HK$4,000 cash rebate or 40,000 Asia Miles |
|
HK$2,000,000 to HK$7,000,000 |
Extra HK$3,000 or 30,000 Asia Miles for every HK$1,000,000 (up to HK$22,000 or 220,000 Asia Miles) |
|
Offer |
Requirement |
Reward |
|
SC Mobile Account Opening reward |
Signing up for Priority Banking via SC Mobile |
HK$500 cash rebate or 5,000 Asia Miles |
|
Payroll Account offer |
Opening a Payroll Account |
Up to HK$1,200 cash rebate |
Existing clients upgrade offers:
|
New funds amount |
Reward |
|
First HK$500,000 |
HK$1,500 cash rebate or 15,000 Asia Miles |
|
HK$1,000,000 to HK$5,000,000 |
Extra $1,000 or 10,000 Asia Miles for every HK$500,000 (up to HK$10,500 or 100,500 Asia Miles) |
|
Offer |
Requirement |
Reward |
|
Online Upgrade reward |
Upgrading to Priority Banking online |
HK$300 cash rebate or 3,000 Asia Miles |
|
Payroll Account offer |
Opening a Payroll Account |
Up to HK$1,200 cash rebate |
Linked credit card: Standard Chartered Priority Banking Credit Card or Standard Chartered Cathay Mastercard – Priority Banking
Dah Sing Bank VIP Banking
Initial deposit: HK$1,000,000
Account service fee: HK$200/month
Service fee waiver requirement: Total relationship balance of HK$1,000,000 or above
Welcome offers: (until 31 December 2023) ：
|
Account balance |
Reward |
|
HK$8,000,000 or above |
HK$8,000 |
|
HK$5,000,000 to below HK$8,000,000 |
HK$5,000 |
|
HK$3,000,000 to below HK$5,000,000 |
HK$3,000 |
|
HK$1,000,000 to below HK$3,000,000 |
HK$1,000 |
Other offers:
|
Offer |
Requirement |
Reward |
|
e-Express Account opening reward |
Opening a sole name VIP i-Account via "e-Express Bank Account Application" |
HK$300 cash rebate |
|
Designated banking services reward |
Taking up or holding at least 5 designated banking services |
HK$600 cash rebate |
|
Product balance reward |
Maintaining a total investment balance of HK$500,000 or above |
HK$800 cash rebate (up to $3,000) |
|
USD transactions reward |
Completing designated USD transactions |
HK$400 cash rebate |
|
Investment services reward |
Enrolling in any of the designated investment services with accumulated amount of HK$300,000 or above |
HK$300 cash rebate |
|
Investment fund transfer-in reward |
Transferring in specified amount of investment fund |
Up to HK$12,000 cash reward |
|
PowerWealth Flexi Financing Service reward |
Successfully applying for PowerWealth Flexi Financing Service during the designated period |
HK$200 cash rebate |
Linked credit card: Dah Sing VIP Banking Visa Infinite Card
Hang Seng Bank Prestige Banking
Initial deposit: HK$1,000,000
Account service fee: up to HK$340/month
Service fee waiver requirement: Total relationship balance of HK$1,000,000 or above
- If below HK$1,000,000 service fee will be HK$40;
- If below HK$500,000, service fee will be HK$340
Welcome offers (until 31 December 2023):
- Monthly account fee waiver for the first 6 months
- Fulfilling the designated growth amount for Total Relationship Balance and registering for Hang Seng Personal e-Banking and completing Risk Profile Questionnaire to enjoy:
|
“Total Relationship Balance” Growth Amount |
Amount of Cash Reward |
|
|
With valid Investment Accounts |
Without valid Investment Accounts |
|
|
HK$5,000,000 or above |
HK$23,500 |
HK$23,000 |
|
HK3,000,000 – HK$4,999,999 |
HK$12,000 |
HK$11,500 |
|
HK1,000,000 – HK$2,999,999 |
HK$6,000 |
HK$5,500 |
|
HK$100,000 – HK$999,999 |
HK$500 |
HK$500 |
|
Offer |
Requirement |
Reward |
Mobile account opening / upgrade reward |
Opening/upgrading to Prestige Banking through Hang Seng Personal Banking mobile app/Hang Seng Personal e-Banking |
HK$300 cash reward |
|
Payroll service reward |
Setting up payroll service via a newly opened/upgraded Prestige Banking account |
Up to HK$1,400 cash reward |
|
New fund deposit reward |
Depositing new funds in designated deposit accounts |
Up to HK$1,300 cash reward |
|
Subscription of investment products reward |
Subscribing for investment products with accumulated amount of HK$500,000 or above |
HK$500 cash reward (up to HK$14,000) |
|
Transfer-in investment fund units offer |
Transfer-in eligible investment fund units to the Bank with accumulated investment of HK$200,000 or above |
HK$200,000 to less than HK$500,000: HK$300 HK$500,000 or above: HK$400 (no upper limit) |
|
Fund subscription fee offer |
Opening an Investment Fund account under Prestige Integrated Account |
0% fund subscription fee |
|
New securities account offer |
Opening new securities account |
Unlimited $0 brokerage fee for trading HK stocks/A-shares/US stocks via online trading channels in first 3 month |
|
Depositing HK stocks into new securities account |
HKD400 cash reward for every accumulated market value of HK$300,000 (up to HK$6,000) |
Linked credit card: Hang Seng Prestige World Mastercard
Benefits of a Premium Bank Account
There is a common perception that premium bank account services are generally targeted towards executives and business owners with large incomes. However, there are currently quite a few different premium bank account applications and upgrade requirements. In addition to preferential deposit rates and discounted or waived bank service fees, banks offer a dedicated manager/financial team for its premier banking clients. Clients have a direct line of contact to an attentive relationship manager who will see to any financial inquiry the client may have. He or she may also connect clients to financial experts who will not only explain and give expert analyses regarding general stocks, foreign exchange, funds and other mainstream products, but also advise on more niche products like commodity futures, bond investments, etc.
Premium accounts also offer better returns on the management of one’s own funds. Simply put, interest rates on time deposits are higher. When taking out a loan, clients may be eligible for a lower interest rate and a higher loan amount，especially with tax loans. The brokerage fee is lower than that for customers with regular bank accounts. If a large deposit/investment is mobilized as an injection of new funds, there will be even more generous annual interest rates, cash rebates and/or airmiles. Of course, clients would be entitled to a lot of welcome offers, too!
Speaking of credit cards, many banks will also issue a premium credit card to account holders and offer a permanent waiver of the annual credit card fee. There are generally more credit card perks with premium cards generally have more benefits, such as dedicated customer support phone lines, access to special events, multiple times more of reward points, travel insurance and free airport lounge access.
Premium Bank Account Welcome Offers
For the average wage earner, premium bank account welcome offers may not be as lavish as applying for a payroll account or credit cards. This is due to the fact that most customers start as basic account holders with large, established banks who are gradually upgraded as their income and wealth grow. However, some small and medium-sized banks or newcomers pursuing new customers will often leverage generous welcome incentives as a key promotional tactic. In such instances, expect to see steeper discounts or larger cash rebates on new fund infusions, purchase of wealth management products, investment plans, and different insurances.
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