DBS digibank HK FAQ & Help
Online Account Opening
What is online account opening via DBS digibank HK?
What type of account(s) will be opened when joining DBS Treasures via DBS digibank HK?
What can I do with these accounts?
With a DBS Treasures Multi-Currency Savings Account, you can:
- Diversify your savings options with a choice of up to 14 currencies;
- Take advantage of favorable movements in foreign exchange rates by converting your deposits without hassle;
- Enjoy the convenience of receiving foreign currency deposits directly to your account.
With a Wealth Management Account, you can:
- Grow your wealth by investing in equities, bonds, investment funds, designated structured investment products;
- Enjoy our Online Equity Trade service with access of up to 7 international stock markets with DBS digibank HK;
- Make FX trades any time1 of day or night at preferential rates by using DBS digibank HK or DBS iBanking;
- Access to the online Financial Need Analysis (FNA) and enable us to provide you with more relevant investment services.
Am I eligible to join DBS Treasures via DBS digibank HK?
To join DBS Treasures on DBS digibank HK, make sure you are:
- New to DBS or existing DBS Credit Card Customer
- Hong Kong Permanent Resident aged 18 or above
- Not a US Resident, US citizen or holding a US Permanent Resident Card (Green Card)
If you do not meet the above requirements to apply via the app, please make an appointment to open your account at our branch.
How can I join DBS Treasures via DBS digibank HK?
Simply search for DBS digibank HK from the Apple App Store or Google Play Store and download it to start your application journey. For the best experience, we recommend iOS 11.0 and Android 7.0 or above. Devices such as iPhone 5, LG V30, V40, LG-H961N, Mi MIX 2S, Mi Mix 3 and Sony Xperia XA2 Ultra are not recommended.
Is my application information secured and protected?
All information you provided (including but not limited to name, date of birth, address and HKID number, any photo images, videos or documents) and documents or any other information provided or obtained in the process of account opening with DBS Bank (Hong Kong) Limited will be encrypted throughout the transmission. Information collected with be used for account opening purposes only.
How long does the application take?
It takes 10 minutes to complete the application journey via DBS digibank HK.
What document(s) do I need to have on hand for my application?
You will need the following:
- Permanent Hong Kong Identity Card
- Residential address proof within the last 3 months
You might also need to submit the following additional document(s):
- Employer’s Consent, if you are employed under a financial institution;
- A Tax Declaration Form, if you are a tax resident of a country/jurisdiction other than Hong Kong;
- Certificate of Loss of Nationality of the US, if you were previously a US citizen, resident or Green Card holder.
What kind of document can I upload as address proof?
You will need to upload a full image of your residential address proof.
Examples of address proof are:
- A recent utility bill issued within the last 3 months,
- A statement issued within the last 3 months by regulated financial institutions,
- Mobile phone or pay TV statement issued within the last 3 months.
What are the requirements for the file size & format of the document I need to upload?
You can upload the required document(s) in GIF, JPG, TIF, PDF files up to 5MB.
Why do I need to take a photo of HKID and selfie?
This helps us to validate your HKID and verify that you are the HKID card holder.
Why do I need to verify my voice?
How to capture my HKID?
Here are some tips to capture your HKID:
- Place your HKID on a light colour background
- Place the whole HKID within the frame and tap the button according to the screen instruction
- Ensure the details captured are clear without any glare or shadows
- Capture both the front and the back of your HKID
Please click to view detailed instructions and watch our education video.
How to capture a selfie?
Here are some tips to capture your selfie:
- Make sure the camera is leveled with your face
- Position yourself against a plain background
- Sufficient lighting, avoid backlighting
- Avoid direct sunlight
- Avoid wearing sun glasses, hat
- Camera needs to be focus
- Ensure only your face is in the picture
- Read aloud the 3 digits according to the on-screen instruction
Please click to view detailed instructions and watch our education video.
Why do I need to visit the branch even when I have submitted the account opening application via DBS digibank app?
Why do I need to register for a User ID and Password during the application process?
You can save your application during the process and resume it within 90 days after your User ID is created by logging in to DBS digibank HK. After your account is successfully opened, you can also enjoy both online and mobile banking services by logging in with the same User ID and password.
Can I use another mobile phone to resume my application?
Yes. After creating your User ID and Password, your application is saved and can be resumed on another mobile phone.
Why did I fail to resume my application?
The application will only be available for 90 days for completion and submission. After this duration, you will need to start a new application.
I have forgotten my User ID or Password, how can I retrieve them?
If you have forgotten your User ID or Password, you cannot retrieve them, nor resume your application via DBS digibank HK. Please visit branch to join DBS Treasures.
Who should I contact if I encounter issues during application?
You can contact our 24-hour dedicated Customer Service Hotline at 2290 8812 for enquiries or assistance.
What Terms and Conditions do I need to accept for joining DBS Treasures via DBS digibank HK?
You need to accept the Terms and Conditions below:
Is the account instantly ready after I completed the account opening application via DBS digibank HK?
After you have completed the application via DBS digibank HK, you will receive an email notification once your account has successfully been opened.
In some cases, we may contact you for more information or documents. We will notify you of the application status two working days after your application submission.
When can I start enjoying the full range of banking services?
You can start enjoying the banking services once you have deposited money via either one of the methods below:
- Online funds transfer from other local bank accounts registered in your name; or
- Cheque deposits at a DBS teller counter using the cheque in your name; or
- Cash deposits at a DBS teller counter with HKID verification.
Can I deposit money into the newly opened DBS accounts from my other local bank accounts via Faster Payment System (FPS)?
You can register for FPS to receive funds via DBS digibank HK in a few simple steps:
Step 1: Log in to DBS digibank HK
Step 2: Go to Settings > Transfer Settings
Step 3: Click “Register” at your mobile number or email address, and set DBS as Default Receiving Bank
Step 4: Follow on-screen instructions and complete registration
After successful FPS registration, you can then log in to other local banks’ internet banking or mobile banking app to perform online funds transfer and send money to your mobile number or email address registered with FPS.
Please click here for step-by-step guide.
How can I apply for an ATM Card?
After your initial fund in, you can apply for your ATM card via DBS digibank HK at your first login. You will receive your ATM card within 5 working days. Upon receiving your ATM card, you can activate your ATM via DBS digibank HK. You can also apply for the ATM card at any of our branches.
Who is my Relationship Manager?
We will designate a DBS Treasures Relationship Manager (TRM) to manage your wealth. Once we’ve assigned the TRM to you, we will notify you the contact details of your TRM via SMS. Alternatively, you can check the contact details of your TRM by logging in to DBS iBanking or DBS digibank HK.
Why can I only see HKD, USD and RMB account under my Multi-Currency Savings Account?
Accounts of other currencies will be created automatically once you transfer funds from your account to that designated currency.
When can I start using my Wealth Management Account?
It usually takes up to 1 working day for us to review your application. You will receive an email/SMS once your Wealth Management Account is open. You can transfer money from your Multi-Currency Savings Account to your Wealth Management Account to start investing.
Can I trade stocks via DBS digibank HK in multi-markets using one Wealth Management Account?
Yes. With one account, you can trade equities in Hong Kong, Singapore, U.S., Canada, Japan, Australia and United Kingdom. If you would like to trade in the U.S. and Canada markets, please submit a W-8BEN form at any of our branches.
How can I receive paper statements?
If you select “eStatement and paper statement” when joining DBS Treasures via DBS digibank HK, you will start receiving paper statements and advices after your Wealth Management Account is successfully opened. You’ll only receive electronic statements for your Multi-Currency Savings Account until your Wealth Management Account is opened. You can update your statement and advice preferences via DBS iBanking anytime.
During the account opening process, I received some SMS messages. How can I identify if these SMS are sent by DBS?
You will receive an SMS from the following phone numbers: 852 6496 7801 0201, 852 6496 7801 0202, 852 5337 6201 or 852 6457 9403.
How can I apply/register for DBS digibank HK?
- Register through DBS digibank HK or DBS iBanking:
- Get ready your:
ATM card number and ATM PIN, or
Credit Card number and Card Expiry Date, or
Cashline Card number and Card Expiry Date
- Go to DBS digibank HK or DBS iBanking login page and click "Register" to register for the service
Start using DBS digibank HK or DBS iBanking service as soon as your registration is completed
- Get ready your:
- Apply at a DBS branch:
- Complete the DBS iBanking Application Form and return it to any of our branches
- Please click the "Register" button on the DBS digibank HK or DBS iBanking login page on the next business day and then use the Initial Username or Secure Device^ to complete the activation procedure.
If you are a joint name account customer, please visit any of our branches and apply for DBS iBanking service.
What should I do if I have forgotten my DBS digibank HK username?
You can retrieve your username via DBS digibank HK. Please click Forgot "Username" on the login page to retrieve username.
Get ready your:
- ATM Card number and ATM PIN, or
- Credit Card number and Card Expiry Date, or
- Cashline Card number and Card Expiry Date, or
- Secure Device
You may also contact our 24-hour Customer Service Hotline at (852) 2290 8888 or complete and return the DBS iBanking Service Request Form to any of our branches to retrieve your username.
What should I do if I have forgotten my DBS digibank HK password?
You can reset your password via DBS digibank HK. Please click Forgot "Password" on the login page to reset it.
Get ready your:
- ATM Card number and ATM PIN, or
- Credit Card number and Card Expiry Date, or
- Cashline Card number and Card Expiry Date, or
- Secure Device
You may also complete and return the DBS iBanking Service Request Form to any of our branches to reset your password.
Are there any service charges for using DBS digibank HK?
DBS digibank HK is a free service provided by our bank. Service charges will only be levied for designated services. For details, please refer to our Bank Charges Schedule.
However, your telecommunications service providers may impose data charges. Please check with your service providers for details.
What do I need to get started on DBS digibank HK?
All you need is any Apple iPhone with iOS 11.0 or higher, or an Android device running Android 7.0 or higher. Simply download DBS digibank HK from Apple App Store, Google Play Store or Huawei App Gallery.
Can I use my existing DBS iBanking log in credentials to access DBS digibank HK?
Can I access DBS digibank HK overseas?
You can access DBS digibank HK wherever your mobile device connects to the Internet. Please be reminded that data roaming charges may apply. For details, please contact your telecommunication service providers.
What are the key services of the DBS digibank HK?
DBS Treasures, DBS Treasures Private Client and DBS Private Banking clients can enjoy the following 5 innovations at DBS digibank HK:
- Trade in 7 international equity markets* and FX 24x71
- Get the full picture with the Dashboard in complete clarity
- Portfolio Overview and Analysis*
- A comprehensive range of Customised Price Alerts and Investment-related Notifications
- Research and Proprietary Insights
In addition to the improved layout with more intuitive navigation, our DBS digibank HK comes with these exciting features:
- Peek Balance: Check your balance in one swipe. No login required!
- Fingerprint Login: Log in to your account securely with just your fingerprint.
- Single-view Dashboard: We're sparing you the hassle – you can now view all your accounts in a single dashboard!
- Quicklinks: Access your frequently-used services with the new drag and drop quick links function.
- Personalized Profile: Customize your own profile with a picture or nickname.
- Payee List: View all your payees right from the dashboard page and manage them on the go.
Plus, you can continue to enjoy these key services:
- Check account balances, Wealth Management Investment Portfolio*, and Transaction History
- Transfer funds to self-named accounts within DBS
- Transfer funds to registered or non-registered accounts in DBS or other local banks
- Pay bills
- Trade local securities
- Open time deposit account and change time deposit maturity instruction
- View e-Coupon
*For DBS Private Bank, DBS Treasures Private Client and DBS Treasures customers with Wealth Management Investment Portfolio
1Foreign Exchange can be conducted 24x7 in Wealth Management Accounts and from 00:00-23:30 in Multi-Currency Savings Accounts. Cross currency transactions between a Wealth Management Account and a Multi-Currency Account are accepted within the service hours of 09:00-21:00, Monday to Friday. For more details, please refer to www.dbs.com.hk/ibanking/ft-time1.html.
One Time Password
What is a One Time Password (OTP)?
An OTP is a security feature in DBS digibank HK, a password sent by us to your registered mobile phone number via Short Message Service (SMS). An OTP is required when you perform designated transactions through DBS digibank HK.
The SMS will not be forwarded to any other mobile phone numbers, even if you have signed up for SMS forwarding with a Hong Kong telecommunication service provider.
What designated services require an OTP?
With the implementation of the Secure Device, depending on the services you need, you are required to use SMS OTPs and/or the Secure Device to authenticate your transactions.
Please click here for more information.
How can I register my mobile phone number to receive OTPs?
You may follow these steps:
- Register online:
- You would need to register your mobile phone number for receiving OTPs when you register for DBS digibank HK
- An SMS OTP will be sent to your registered mobile phone number. You will be required to enter the SMS OTP for verification. Alternatively, if you are a DBS account customer and update your mobile phone number, we will send you a Security Code by registered mail to verify the mobile phone number
- Once you have received the Security Code, simply log in to DBS iBanking and enter the code to complete the mobile phone number registration
- Register at a DBS ATM: (not applicable to customers with DBS credit cards and/or Cashline cards only)
- Insert your DBS ATM card and enter your ATM PIN.
- Choose "Donation / Other" and then "OTP Registration / Update".
- Enter the mobile phone number you want to use to receive OTPs.
If your ATM card is a joint-name ATM card, please complete the DBS iBanking Application Form and return it to any of our branches.
- Register at a DBS branch:
complete the DBS iBanking Application Form and return it to any of our branches to register your number.
When does the OTP expire?
The OTP expires 100 seconds after it is issued. If you are not able to enter the OTP and log on to DBS digibank HK before it expires, you can click on "Request a new OTP" on the OTP input page.
If you are not able to confirm the transaction before the OTP expires, you can request a new OTP at the OTP authorisation page, and then enter the new OTP to confirm that transaction again.
What is Secure Device?
The Secure Device, on top of the current SMS One Time Password ("SMS OTP"), is implemented as an additional gateway to enhance internet and mobile banking security.
It is designed for tightening the authentication process. For certain internet and mobile banking transactions that require a higher level of authentication, security clearance is further enhanced with the simultaneous use of SMS OTP and Secure Device.
Please click here to find out the mode of authentication required for various types of banking services.
How to request for a Secure Device?
If you are an existing DBS iBanking customer, you may request for a Secure Device through DBS iBanking (just click on "Request", then "New Secure Device") or at any of our branches in Hong Kong.
Any charging fees for the Secure Device?
It is free of charge for first time applications for the Secure Device and for replacements due to out of battery. In case of loss, theft or malfunctioning of the Secure Device, a fee of HK$100 will be charged for a replacement of the Secure Device.
Can I not activate the Secure Device after receiving it?
If you do not activate the Secure Device, you will not be allowed to perform certain transactions on DBS digibank HK. You can log in to DBS digibank HK, go to “More” > “Activate Secure Device” and activate the Secure Device anytime.
What is Peek Balance?
Peek Balance lets you check your preferred account balance with a simple swipe on your smartphone or Apple Watch. No login required! You can select your preferred account from your DBS deposit or credit card accounts.
I don’t think I’ll need Peek Balance. Can I opt out from it?
Yes, you have a choice. Peek Balance requires a one-time setup after you log in to DBS digibank HK, under “Peek Balance” in “More” tab . Without performing this setup, Peek Balance will not be turned on.
Fingerprint or Face ID Login
What is Fingerprint Login?
Your fingerprint is your password. With fingerprint login, accessing your accounts is faster, easier and more secure.
Fingerprint login is available on Touch ID enabled Apple smartphone running on iOS 11.0 or higher and fingerprint enabled and designated Android smartphone operating on v7.0 or higher.
What should I do if Fingerprint Login isn't working?
For technical support of Apple iPhone Touch ID, please refer to Apple’s article If Touch ID isn't working on your iPhone or iPad.
For technical support of Android Fingerprint Login, please refer to the website of the relevant Android Smartphone Brand.
Can I log in to DBS digibank HK with Face ID?
Yes. You can enable Face ID under Personalization Settings in DBS digibank on iPhone X or later.
To use Face ID in DBS digibank, you will need to turn on Face ID for digibank in your iOS Settings.
We will provide app updates to support the latest models of mobile devices from time to time. You are advised to update the DBS digibank app once available for best experience.
For features and usage of Face ID, please refer to Apple’s article About Face ID advanced technology.
I'm using Touch ID to log in to DBS digibank HK on my current phone. Can I use Face ID automatically when I switch to iPhone X or later?
Can I opt out from Face ID login if necessary?
If you have not performed the one-time setup on your new iPhone X or later to enable Face ID, you will not be able to use Face ID and you can continue using your username and password to log in-to DBS digibank HK. If you have performed the one-time setup to enable Face ID, you can always turn it off under “Face ID” in “More” tab.
What should I do if Face ID isn't working?
What kind of accounts can be viewed via DBS digibank HK?
You can check the account balance and transaction history of the following types of account:
- Investment Fund Account
- Securities Account
- Investment ID Account
- Current Account
- Savings Account
- Save & Cheque Account
- Multi-currency Savings Account
- Renminbi Savings Account
- New Generation Easy Saver Plan
- Time Deposit Account
- Credit Card
- Cashline Revolving Loan Account
- Personal Instalment Loan
- Salaries Tax Loan
- Home Loan Account
To what kind of accounts can I make transfers via DBS digibank HK?
Is there any daily limit for transactions conducted via DBS digibank HK?
Would there be any difference in the registered accounts linked to DBS iBanking and DBS digibank HK?
How can I register a third party account for transfers via DBS digibank HK?
What type of instructions may be viewed in the Scheduled Transfer?
When can I get the fund using Express Transfer (RTGS)?
Is there any daily limit for pay bills transactions conducted via DBS digibank HK?
Would there be any difference in the “My Payee List” on DBS iBanking and “Payee List” on DBS digibank HK?
What type of instructions may be viewed in the Scheduled Payment?
What is the cut off time for Pay Bills?
How long can I schedule my bill payment?
What is Payee List?
Trade Local Securities
What functions are available in Securities Trading?
The following functions are available:
- Place Order
- Order Status
- Transaction History
- Market Information
You are able to trade in Hong Kong market only.
What type of orders can be made for securities trading?
How shall I know whether my instruction has been received or not?
After you have entered and confirmed your instruction, a reference number will be provided. This only acknowledges the Bank's receipt of your instruction. There is no guarantee that your instruction will be processed or executed in the market. Your instruction may be rejected or not be executed due to fluctuations in stock price, insufficient market liquidity, system delayed/failure or any other event beyond the control of the Bank. You can check the status of your instruction under “Order Status” of “Securities Trading”.
As the initial order remains queuing in the market pending processing notwithstanding subsequent placement of an amendment order or cancellation order, such amendment order or cancellation order may not be transacted or processed. You are advised to check your order status under “Order Status” of “Securities Trading”.
What fees, levies, etc. will be charged for trading?
Please refer to our Bank Charges Schedule.
How can I check my order status and what is its meaning?
- DBS digibank under 'Trade Local Securities' > 'Order Status'; or
- Phone Banking Services Hotline (852) 2290 8888
The meaning of the order status is summarised below for your easy reference:
Order Status: Pending
Details: Your instruction is received but not yet sent to the market. If your instruction cannot be sent to the market or cannot be accepted by the market after the market opens, the status will be changed to 'Rejected'.
Order Status: Queuing (from 09:00 until the market opens on a trading day)
Details: Your instruction is received but is pending to be sent to the market. The status will be changed to 'Rejected' if your instruction cannot be sent to the market or cannot be accepted by the market after the market opens.
Order Status: Queuing (after the market opens on a trading day)
Details: Your instruction has been sent to the market for queuing. You can check 'Order Status' and register for 'Securities Order Confirmation' to obtain the latest status of your order. For amendment order or cancellation order, your instruction may not be processed in the market.
Order Status: Executed
Details: Order has been executed according to your instruction.
Order Status: Partially Executed
Details: Your order has been executed partially and the unexecuted quantity will be stored in the system for queuing until the market closes. If the order cannot be fully executed by the time of market closes, the unexecuted quantity will be cancelled. The status of such order will then be changed to 'Executed'.
Order Status: Cancelled
Details: Order has been successfully cancelled according to your instruction or automatically cancelled at the day-end when the market closes.
Order Status: Rejected (placing new order)
Details: Your instruction has been rejected. It cannot be sent to the market or cannot be accepted by the market. You can check ‘Order Status and Transaction History’ and register for ‘Securities Order Confirmation’ to obtain the latest status of your order. You can place a new order if you wish.
Order Status: Rejected (amending order/cancelling order)
Details: Your instruction has been rejected. It cannot be sent to the market or cannot be accepted by the market. You can check ‘Order Status and Transaction History’ and register for ‘Securities Order Confirmation’ to obtain the latest status of your order.
What is Shanghai-Hong Kong Stock Connect?
The Stock Exchange of Hong Kong Limited (SEHK), a wholly-owned subsidiary of HKEx, and Shanghai Stock Exchange established mutual order-routing connectivity and related technical infrastructure to enable investors of their respective market to trade designated equity securities listed in the other’s market. For more details, please refer here.
Where can I trade Stock Connect?
Why I cannot find Stock Connect securities in order status and transaction history?
Is the settlement arrangement for Stock Connect different from existing trading stocks in HKEx?
Yes. Under Shanghai Hong Kong Stock Connect, the stock settlement date (T+0) and the cash settlement date (T+1) do not fall on the same day. For details, please refer to here.
How can I trade overseas stocks?
DBS Online Trading Platform is a new DBS online platform on DBS digibank HK and DBS iBanking offered to our customers for trading of equities through their Securities Account under the DBS Private Bank Master Agreement (for DBS Private Bank Clients) / Wealth Management Securities Account under the DBS Treasures Private Client Terms and Conditions (for DBS Treasures Private Clients ) / Wealth Management Securities Account under the Terms and Conditions for Accounts under Wealth Management Investment Portfolio (Wealth Management Accounts) (for DBS Treasures).
You are able to trade in seven major markets of Hong Kong, Singapore, United States of America, Canada, Japan, Australia and the United Kingdom. You can access the trading platform via DBS digibank HK/DBS iBanking anytime anywhere to view your portfolio and place trades in any of the seven major markets. You can choose the eligible portfolios displayed to be the designated account for your online purchase and sale of equities through the Bank. Equities traded through DBS Online Trading Platform will be treated as part of your assets under management with the Bank.
For more information, please click here.
Do I get any advice after opening a time deposit via DBS digibank HK?
What happens if I did not update the maturity instruction for my time deposit?
Where can I change the maturity instruction of my time deposit?
You can change the maturity instruction of your time deposit through the function of " Change Maturity Instructions " under Place Time Deposit in DBS digibank HK. Change of maturity instruction through DBS digibank HK will only be accepted if the instruction is given at least 1 business day before the maturity date. If you would like to change the maturity instruction on the maturity date, please visit any of our branches for further enquiry.
Can I make an early withdrawal request of my time deposit?
GBA Wealth Management Connect (Southbound)
What is a GBA Wealth Management Connect Southbound Account?
- Southbound Wealth Management Connect allows qualified GBA mainland investors to invest in selected eligible wealth management products sold by banks in Hong Kong through designated channels.
- Customers first need to set up a bank account with cross-border remittance function with the partner bank in the Mainland designated by the Bank in Hong Kong ("Mainland Remittance Account"), and the Customers also need to open a GBA Wealth Management Connect Southbound Account (“Southbound Account”) with investment function in the Bank in Hong Kong and bind it to the corresponding Mainland Remittance Account to form a "one-to-one" pairing.
- Customers can remit to the Southbound Account in Hong Kong through the Mainland Remittance Account and purchase qualified wealth management products sold by the Bank in Hong Kong through the Southbound Account.
What is a "qualified investor"? What are the requirements?
Mainland investors should meet all the requirements set by both the Mainland and Hong Kong regulatory authorities, including
- Investment in single name account;
- Have full capacity for civil conduct;
- Being residents registered in the 9 GBA cities, or with record of social security contribution or individual income tax payment in the 9 GBA cities for 5 consecutive years;
- With 2 or more years of investment experience and net month-end household financial assets of RMB 1 million or more over the past 3 months, or month-end household financial assets of RMB 2 million or more over the past 3 months;
- As assessed by the Bank of Hong Kong as not belonging to a vulnerable customer.
All the account opening is subject to the Bank’s approval. Further information is available on the website of the Hong Kong Monetary Authority.
Account Opening Arrangements
Mainland investors should complete the account opening procedure by attestation through a partner bank in Mainland, or open the account through a bank in Hong Kong in person.
Can investors in the Mainland open a dedicated investment account with Hong Kong banks before opening a dedicated remittance account with Mainland banks?
Yes, they can. But mainland investors must provide the Mainland Remittance Account number for the Bank in Hong Kong to complete the pairing before activating the Southbound Account.
How can I remit and are there any restrictions?
- The cross-boundary capital flows in Wealth Management Connect will be subject to the total and individual investor quota management, and will be conducted and managed in a closed-loop system by bundling the Mainland Remittance Account and Southbound Account to ensure that the relevant funds will only be used to invest in eligible investment products. Thus, customers can only use the Mainland Remittance Account bound in the Mainland to make cross-border remittances, collection and receive investment returns under Southbound Connect.
- The funds in the Southbound Account can only be used to purchase eligible wealth management products and for outward remittance to the Mainland Remittance Account.
- Customers are not allowed to transfer funds from the Southbound Account to any accounts (including non-Hong Kong accounts) other than the Mainland Remittance Account.
- Customers are not allowed to withdraw cash from the Southbound Account or use the asset(s) in the Southbound Account for pledge, leverage, guarantee and other purposes.
- Southbound Account can only receive funds from the Mainland Remittance Account in RMB, and remit funds back to the Mainland Remittance Account in RMB. Regardless of the settlement currency of the eligible wealth management products invested by the customer, when the investment is withdrawn and the funds are remitted back to the Mainland Remittance Account, the funds must be converted back to RMB.
- All cross-border remittances between the Mainland Remittance Account and the Southbound Account must be in RMB, which means the Mainland Remittance Account of our Mainland partner bank can only send or accept RMB funds.
- The Bank in Hong Kong will provide customers with foreign exchange services to purchase eligible wealth management products denominated in Hong Kong dollars and foreign currencies. Customer can also directly invest in eligible wealth management products denominated in RMB in the Southbound Account.
How many Southbound Accounts can be opened by each investor?
Each eligible Southbound investor can only open one Mainland Remittance Account and one Southbound Account at any time.
Individual investor quota
- The individual investor quota is calculated on a net basis. The accumulated net remittance amount of the customer to the Southbound Account through the Mainland Remittance Account shall not exceed the individual investor quota at any time.
- The Individual investor quota for each eligible investor is RMB 1 million.
- The usage of the individual investor quota under Southbound Connect is calculated as follows:
Usage of individual investor quota under Southbound Connect =
cumulative remittances from the Mainland to Hong Kong and Macao under Southbound Connect – cumulative remittances from Hong Kong and Macao back to the Mainland under Southbound Connect
- Example 1:
If a customer first remits RMB 500,000 from the Mainland to Hong Kong, then remits RMB 100,000 from Hong Kong to the Mainland, Individual investor quota usage is RMB 400,000 and the Available Quota is RMB 600,000.
- Example 2:
If a customer first remits RMB 500,000 from the Mainland to Hong Kong, then remits RMB 600,000 investment return from Hong Kong to the Mainland, the individual investor quota usage is RMB -100,000 and the available quota is RMB 1,100,000.
- Subject to the aggregate quota in Q8, if the net transfer of funds into the Southbound Account exceeds the individual investor quota limit, the Bank in Hong Kong will refuse to receive the funds and notify the mainland partner bank to return the bulk remittance to the Mainland Remittance Account.
- In addition, the use of individual investor quota is also affected by the aggregate quota, please refer to Aggregate quota.
The individual investor quota is subject to changes by regulatory authorities from time to time.
Aggregate quota is the total amount of funds that is allowed to be remitted from the Mainland to Hong Kong and Macao under Southbound Connect. The aggregate quota is calculated on a net basis. The cumulative net remittance from the Mainland under Southbound Connect should not, at any time, exceed the aggregate quota.
- The aggregate quota for the Southbound Scheme is initially set at RMB 150 billion.
- Customers should pay attention to the possible impact of the limit on the total amount and related risks. For example, the Bank in Hong Kong may suspend processing of a customer's Southbound - related remittance instructions from the Mainland to Hong Kong due to the total amount being used up. Remittances returned to the Mainland and investment instructions that have been submitted to the Southbound Account will not be affected.
- The aggregate quota is subject to changes by the regulatory authorities from time to time.
Eligible Wealth Management Products
Wealth management products under Southbound Connect include
- Investment products (excluding products listed and traded on the Hong Kong Exchanges and Clearing Limited)
The following products, which are assessed as “non-complex” and “low” risk to “medium” risk by Hong Kong banks distributing such products:
(1) funds domiciled in Hong Kong and authorised by the Securities and Futures Commission; and
RMB, HKD and foreign currency deposits namely US dollar, Euro, UK Pound Sterling, Australian dollar, New Zealand dollar, Canadian dollar, Swiss Franc, Japanese Yen and Singapore dollar
Suspend or cancel DBS iBanking / DBS digibank HK service
Suspend DBS iBanking / DBS digibank HK service
If you want to suspend DBS iBanking / DBS digibank HK service, please visit our branch or contact our Customer Service Hotline at 2290 8888 for assistance.
You are advised to save or print a copy of your eStatements. You will not be able to retrieve the eStatements once your DBS iBanking / DBS digibank HK service is successfully suspended.
Cancel DBS iBanking / DBS digibank HK service
If you want to cancel DBS iBanking / DBS digibank HK service, please visit our branch for assistance.
You are advised to save or print a copy of your eStatements. You will not be able to retrieve the eStatements once your DBS iBanking / DBS digibank HK service is successfully cancelled.
If you want to cancel your DBS Bank account, please visit our branch for assistance.
Bank Account Closure
Close DBS Bank Account
If you want to close your DBS bank account, please submit your online request via this link go.dbs.com/hk-close-en and we will contact you within 2 working day to handle your request.
You are advised to save or print a copy of your eStatements. You will not be able to retrieve the eStatements once your DBS iBanking / DBS digibank HK service is ceased after all accounts closed.
Please make appropriate arrangement for any regular payments or receipts made through the account, such as Standing Instruction (SI), Direct Debit Authorization (DDA), autopay, etc.
What is Open Banking?
Open Banking allows information to be shared with TSPs (Third-party Service Providers) via API (Application Program Interface). HKMA promotes Open Banking to facilitate innovation and enhance customer experience. API is a computer programming approach that bridges between the bank and TSPs to provide more well-rounded services to our customers. Our TSP partners are registered through our partnership onboarding governance process and are continuously monitored to ensure your personal information is secured.
For more information, please click here.