General Terms and Conditions:

  1. The promotion period is from 2 April 2024 to 29 June 2024, both dates inclusive ("Promotion Period").
  2. The below offer is applicable to Cross-boundary WMC Southbound customers of Hang Seng Bank Limited (“the Bank”), with quota cap of 550 customers ("Eligible Customers") on a first-come-first-served basis.
  3. Unless otherwise specified, this promotion is not applicable to Business Banking 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 CNY & USD New Fund Time Deposit Offer – Preferential rate up to 8% p.a. (the “New Fund Time Deposit Offer”):

  10. During the promotion period, Eligible Customers can place a time deposit with designated tenor and designated amount of Eligible New Fund Balance via Phone Banking or any branch of the Bank to enjoy the preferential interest rate below. Each Eligible Customer can enjoy either the CNY or USD New Fund Time Deposit Offer only once during the Promotion Period.
    Time deposit amount Tenor Preferential interest rate
    CNY 10,000 or above 2 weeks 8% p.a.
    USD 2,000 or above 1 month

    The above interest rates are indicative as of 27 March 2024, for reference only and subject to revision based on the prevailing market conditions. Terms and Conditions apply.

  11. "Eligible New Fund Balance" refers to the incremental balance when comparing the latest deposit balance with the balance of the same currency as of 15 calendar days ago, after deduction of the sum of principal amount which has been entitled to new fund offer of Time Deposit within the last 15 calendar days. The balance of all accounts, including Savings Accounts, Current Accounts and Time Deposits of Hong Kong Dollar and foreign currencies (whether accounts in sole name or joint name), will be counted towards the calculation of "Eligible New Fund Balance". The Bank reserves the right of final decision should there be any dispute in the definition of "Eligible New Fund Balance".
  12. Deposits in different currencies and tenors will have different preferential time deposit interest rates. The relevant interest rates will be subject to the rates quoted by the Bank from time to time.
  13. The Offer is not applicable to the pending or renewal of time deposit and cannot be used in conjunction with other interest rate offer(s) for the same currency.
  14. Interest rates and exchange rates are subject to review according to changes in market conditions from time to time. The Bank reserves the right to change the above interest rate offer at any time. Before making the relevant transaction, please check with our branch staff for the effective rate applicable to the transaction.

RMB Currency risk
Renminbi (“RMB”) is subject to exchange rate risk. Fluctuation in the exchange rate of RMB may result in losses in the event that the customer subsequently converts RMB into another currency (including Hong Kong Dollars). Exchange controls imposed by the relevant authorities may also adversely affect the applicable exchange rate. RMB is currently not freely convertible and conversion of RMB may be subject to certain policy, regulatory requirements and/or restrictions (which are subject to changes from time to time without notice). The actual conversion arrangement will depend on the policy, regulatory requirements and/or restrictions prevailing at the relevant time.

Foreign Currency risk
Foreign Exchange involves Exchange Rate Risk. Fluctuations in the exchange rate of a foreign currency may result in gains or losses in the event that the customer converts HKD to foreign currency or vice versa, and/or in the event that the customer converts a foreign currency time deposit to HKD upon maturity.