Bank of China (Hong Kong) is set to offer a cross-border bank account, allowing Hong Kong residents to open an account with Beijing’s Bank of China without the need to travel to the mainland in person. The new service will be available for customers who have accounts at HSBC and Standard Chartered Bank, which are both based in London. The move comes as part of a wider push by Bejing to increase cross-border mobility within the financial services industry.
Bank of China (Hong Kong) is set to offer a cross-border bank account, allowing Hong Kong residents to open an account with Beijing’s Bank of China without the need to travel to the mainland in person. Two types of account will be available: one with access to ATMs on the mainland, and one with a lower transaction threshold and no ATM access.The move comes as part of a wider push by Bejing to increase cross-border mobility within the financial services industry.