General Terms and Conditions

  1. The promotion period is from 1 April 2023 to 30 June 2023, both dates inclusive ("Promotion Period").
  2. The below offer is applicable to customers of Hang Seng Bank Limited (“the Bank”) who successfully opens a new Cross-boundary WMC Northbound Remittance Account (“Remittance Account”) during the Promotion Period ("Eligible Customers").
  3. Unless otherwise specified, this promotion is not applicable to corporate account customers and Private Banking customers.
  4. No person other than the customer and the Bank (which includes its successors and assigns) will have any right under the Contracts (Rights of Third Parties) Ordinance to enforce or enjoy the benefit of any of the provisions of these Terms and Conditions.
  5. These Terms and Conditions are governed by and will be construed in accordance with the laws of the Hong Kong Special Administrative Region.
  6. These Terms and Conditions are subject to prevailing regulatory requirements.
  7. The Bank reserves the right to suspend, vary or terminate this promotion and the relevant offers at any time and to amend the relevant Terms and Conditions from time to time without prior notice.
  8. In case of any disputes, the decision of the Bank on all matters relating to this promotion and the relevant offers shall be final and binding on all the parties concerned. This promotion and the relevant offers are subject to the Terms and Conditions for the relevant products or services. If there is any inconsistency between the Terms and Conditions for the relevant products or services and these Terms and Conditions, these Terms and Conditions shall prevail.
  9. In case of any discrepancy between the English and the Chinese versions of these Terms and Conditions, the English version shall prevail.

    10. Terms and Conditions for Remittance Offer – Up to HKD800 Cash Rebate (the “Remittance Offer”)

  10. During the Promotion Period, an Eligible Customer who successfully completed a net remittance of RMB300,000 or above from the Remittance Account with the Bank to the Cross-boundary WMC Northbound Investment Account (“Investment Account”) via “Cross-Border View and Transfer” in Hang Seng Personal e-Banking or Personal Banking mobile app will be entitled to the respective cash reward based on the Net Remittance Amount (as defined below) as stipulated in the table below:
    Net Remittance Amount to Investment Account Cash Reward
    First RMB300,000 HKD100
    Every RMB100,000 thereafter HKD100; capped at HKD700

    Definition of the Net Remittance Amount

    Net Remittance Amount means the accumulated remittance amount from the Remittance Account to the Investment Account minus the accumulated remittance amount from the Investment Account to the Remittance Account during the Promotion Period. All the related remittance amounts shall be based on the records of the Bank.

  11. Eligible Customers are entitled to the Cash Reward of the Remittance Offer once only with the maximum amount of Cash Reward capped at HKD800 for each Eligible Customer. The relevant cash reward will be credited in Hong Kong dollars into the relevant Integrated Banking Account of the Eligible Customers on or before 30 September 2023. Eligible Customers must not terminate the relevant integrated accounts when the relevant cash reward is credited in order to enjoy the cash reward.

    Illustrative Example

    Period of remittance Accumulated remittance amount from the Remittance Account to the Investment Account
    (a)    		 Accumulated remittance amount from the Investment Account to the Remittance Account
    (b)    		 Net Remittance Amount
    (a) – (b)
    April to June 2023 RMB1,000,000 RMB100,000 RMB900,000
    With the Final Net Remittance Amount of RMB900,000 the Eligible Customer is entitled to:
       HKD100 (for the first RMB300,000)
    + HKD600 (for every RMB100,000, after RMB300,000)
    HKD700 Cash Reward

RMB currency risk
RMB is subject to foreign exchange control and restrictions by the mainland Chinese central government. There may be additional rules, regulations and restrictions under contemplation or to be issued by any authorities in mainland China that may be relevant to RMB conversion. The Customer should take reasonable steps to check for updates and details before giving instructions for RMB conversion. The exchange rate of RMB may vary from time to time. There is no guarantee that RMB will not depreciate. The exchange rate of RMB traded outside mainland China (“Offshore RMB”) will be affected by, amongst other things, foreign exchange control imposed by the mainland Chinese central government from time to time. The Customer will incur currency conversion costs (being the spread between the purchase and sale of Offshore RMB) and be subject to exchange rate fluctuation risks in any such currency conversion.

Foreign exchange risk
If the eligible products that are traded by the Customer are not denominated in RMB, the Customer may have to convert RMB into the relevant foreign currency when the Customer invests in that foreign currency denominated eligible product. The Customer will be exposed to exchange rate risk. Besides, if the relevant foreign currency is subject to exchange control, it is possible that the Customer may not receive the relevant foreign currency upon redemption or sale of the relevant foreign currency denominated eligible products. The relevant foreign currency denominated eligible products may also be subject to liquidity risk, credit and insolvency risks of the product issuers.