Hang Seng Bank

Hang Seng Preferred Banking Welcome Offers Promotion (January - March 2023) – Terms and Conditions

General Terms and Conditions:

Unless otherwise specified, the promotion period of Hang Seng Preferred Banking Welcome Offers Promotion is from 1 January 2023 to 31 March 2023, both dates inclusive (“Promotion Period”).
Each Eligible Customer can only enjoy the offers once unless otherwise specified. The offers cannot be used in conjunction with other promotional offers of the same product offered by Hang Seng Bank Limited (the “Bank”).
The Bank reserves the right to suspend, vary or terminate this promotion and the related offers and to amend these terms and conditions at any time without prior notice. The decision of the Bank on all matters relating to this promotion and the related offers shall be final and binding on all the parties concerned. The relevant offers are subject to the terms and conditions of the relevant products/services. If there is any inconsistency between the terms and conditions of the relevant products/services and these terms and conditions, these terms and conditions shall prevail. In case of any discrepancy between the English and the Chinese versions of these terms and conditions, the English version shall prevail.
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 provision of these terms and conditions.
These terms and conditions are governed by and will be construed in accordance with the laws of the Hong Kong Special Administrative Region.
These terms and conditions are subject to prevailing regulatory requirements.

Preferred Banking Welcome Rewards:

Unless otherwise specified, this offer is only applicable to personal customers who meet the account opening requirements and have newly opened / upgraded to Integrated Account of Preferred Banking (“Preferred Banking”) at the Bank branches or through digital channels (including Hang Seng Personal Banking mobile app and Hang Seng Personal e-Banking) or phone banking hotline during the Promotion Period (the “Eligible Customers”). The Eligible Customers exclude:
1. existing customers who are holding sole-named or joint-named Preferred Banking; or
2. customers who have closed any sole-named or joint-named Preferred Banking with the Bank in the previous 12 months prior to the account opening month; or
3. customers whose accounts have been terminated in any period
“New Customer(s)” mentioned herein refers to the Eligible Customers, who are not:
1. existing customers who are holding any Hong Kong Dollars/Foreign Currency savings, current, time deposit accounts or any Integrated Accounts at the Bank (including Prestige Banking, Preferred Banking and any other Integrated Account) (the “Existing Customer(s)”), or
2. customers who have closed any of the above accounts with the Bank in the previous 12 months prior to the account opening month, or
3. customers whose accounts mentioned above have been terminated in any period.
“Upgrade Customer(s)” mentioned herein refers to the Existing Customers, who are not:
1. existing customers who are holding sole-named or joint-named Preferred Banking; or
2. customers who have closed any of the above accounts with the Bank in the previous 12 months prior to the account opening month; or
3. customers whose accounts mentioned above have been terminated in any period.
If an Eligible Customer open/ upgrades to more than one Preferred Banking during the Promotion Period (including the sole-named or joint-named Preferred Banking), entitlement to the offer will be based on the earliest account opening/ upgrading date.
In case the relevant Preferred Banking is a joint-named account, only the primary account holder can enjoy the offers.
The offers are not applicable to commercial customers.
In case of any disputes, the Bank’s records shall be final and conclusive.

Preferred Banking Account Opening Reward

New Customers who open a new Preferred Banking at branches or through Hang Seng Personal Banking mobile app and also open / use the designated banking / investment services during the Promotion Period can earn up to USD200 reward .(Reward 1 to Reward 5). Upgrade Customers who upgrade to Preferred Banking and also open / use the designated banking services during the Promotion Period can earn up to USD100 reward (Reward 1).

Reward

Designated Banking / Investment Services

Cash Reward

Reward 1

Set up payroll service via your Preferred Banking account with at least one-month payroll record during the designated payroll period and deposit new funds in the designated deposit accounts during the designated period

Average Monthly Payroll Amount (“Designated Payroll Amount”)	Cash Reward
HKD30,000 or above	USD60
HKD 10,000 – below HKD 30,000	USD40

Designated Deposit Account	Eligible Incremental Amount	Cash Reward(s)
HKD Savings / Current Account	HKD10,000 or above	USD20
USD Savings Deposit Account	USD1,000 or above	USD20

Up to
USD100

Reward 2

Open a new SimplyFund account and complete one fund subscription

USD25

Reward 3

Open a new Securities account

USD25

Reward 4

Apply for Hang Seng MPOWER Card or University / College Affinity Credit Card

USD25

Reward 5

Activate Savings Planner via Hang Seng Personal Banking mobile app

USD25

The promotion period of Hang Seng Payroll Service Offers (“Payroll Offers”) is from 1 January 2023 to 31 March 2023. The Payroll Offers are only applicable to Eligible Customers who successfully set up Payroll Service via the sole-named or joint-named newly opened/ upgraded to Preferred Banking account (“Payroll Account”) within the Promotion Period, and fulfil the following requirements (“Eligible Payroll Customers”):

Have no payroll record under any account of the Bank during the period from 1 July 2022 to 31 December 2022; and

Have at least one-month payroll record of HKD10,000 or above in Eligible Customer's Payroll Account during the period from 1 January 2023 to 31 May 2023 (“Designated Payroll Period”); and the salary must be directly credited to Eligible Customer's Payroll Account from the employer's company account via Autopay (“Eligible Payroll Record”). Any salary not credited from the employer's company account is not considered an Eligible Payroll Record.
Payroll Offer 1

The Eligible Payroll Customers will be entitled to one of the following Cash Rewards based on their average monthly payroll amount (“Designated Payroll Amount”) as stipulated in the table below (“Eligible Payroll Customer of Payroll Offer 1”). Each Eligible Payroll Customer of Payroll Offer 1 is entitled to the Cash Reward once only:

Average Monthly Payroll Amount (“Designated Payroll Amount”)	Cash Reward	Cash Reward Credit Date
HKD30,000 or above	USD60	On or before 31 July 2023
HKD10,000–below HKD30,000	USD40	On or before 31 July 2023

The Designated Payroll Amount of Eligible Payroll Customer will be calculated by the Bank based on the monthly payroll records received by autopay made through the employer company's account over the Designated Payroll Period. If an Eligible Payroll Customer's Payroll Account has more than one month with Eligible Payroll Record during the Designated Payroll Period, the average monthly payroll amount will be taken by aggregating all monthly payroll amounts of the Eligible Payroll Records and divided by the number of the months with Eligible Payroll Records. All payroll record including the payroll amount and the number of payroll transactions are subject to the Bank's records. In case of any dispute, the decision of the Bank shall be final.

Payroll Offer 2

Eligible Payroll Customers who deposit new funds in HKD Savings/Current Account and/or USD Savings Deposit Account during the designated period and meet the requirement(s) of deposits incremental amount as stipulated in the below table (“Eligible Incremental Amount”) ,can enjoy the relevant Cash Reward(s) (“Eligible Payroll Customers of Payroll Offer 2”):

Deposit Account

Eligible Incremental Amount

Cash Reward(s)

Baseline Date for Eligible Incremental Amount	Comparison Date for Eligible Incremental Amount
(“Designated Period”)

Cash Reward Credit Date

HKD Savings / Current Account

HKD10,000 or above

USD 20

31 December 2022

31 March 2023

On or before 31 July 2023

USD Savings Deposit Account

USD1,000 or above

USD 20

Eligible Incremental Amount refers to the positive net growth amount of the Eligible Payroll Customer of Payroll Offer 2's combined total deposit balance of sole-named HKD Savings/ Current Account (“Total HKD Deposit Balance”), and/or total deposit balance of sole-named USD Savings Account (“Total USD Deposit Balance”) from the Baseline date to the Comparison Date as mentioned in the above table. For Eligible Payroll Customers of Payroll Offer 2 who did not hold any HKD and/or USD account with the bank at the Baseline date, his/ her “Total HKD Deposit Balance” or “Total USD Deposit Balance” on the Baseline date will be treated as zero. All the related account deposit balances shall be based on the records of the Bank which shall prevail.
Each Eligible Payroll Customer of Payroll Offer 2 is only entitled to one HKD Savings/Current Account and/or one USD Savings Deposit Account Cash Reward respectively.
Eligible Payroll Customers must maintain a valid Preferred Banking account and payroll account at the time the relevant cash reward of Payroll Offer 1 and / or Payroll Offer 2 is / are being awarded. If Eligible Payroll Customers have terminated the relevant payroll account and Preferred Banking or changed such account to a non-Preferred Banking at the time when cash rewards are being awarded, the Bank reserves the right to deduct an amount equivalent to the value of the reward from any accounts of the Eligible Payroll Customers maintained with the Bank without prior notice.
The Payroll Offers cannot be used in conjunction with other promotional offer(s) of the same product including but not limited to Hang Seng Corporate Employee Privilege Programme (“CEPP”) offered by the Bank.
In case the relevant Preferred Banking is a joint-named account, only the primary account holder can enjoy the Cash Rewards of Payroll Offer 1 and Payroll Offer 2.
The Payroll Offers are not applicable to commercial customers, Private Banking customers and the Bank's staff.
The Payroll Offers are applicable to Eligible Customer who has payroll transactions in Hong Kong Dollars only.

For Reward 2, 3 and 5, New Customers are required to fulfill the requirements of designated banking/ investment services within the Promotion Period in order to enjoy the relevant cash rewards. The relevant cash rewards will be credited in US dollars into the relevant Preferred Banking Account of the New Customers on or before 31 July 2023.
For Reward 4, New Customers are required to fulfill the requirements of designated banking services on or before 31 May 2023 in order to enjoy the relevant cash rewards. The relevant cash rewards will be credited in US dollars into the relevant Preferred Banking Account of the New Customers on or before 31 July 2023.
For Reward 2, New Customers who opens a SimplyFund Account (Account Suffix 384) through Hang Seng Personal mobile app and completes one fund subscription via SimplyFund Account within the Promotion Period, is entitled to USD25 cash rewards. This offer cannot be enojoyed together with the "SimplyFund Rewards" mentioned below. Eligible customer can only receive either reward in respect of the same fund subscription, whichever is higher.
For Reward 3, New Customer who opens a Securities Account within the Promotion Period is entitled to USD25 cash rewards. This offer is only applicable to new Securities Customers (including all the account holders of the New Securities Account), who must not hold any securities account (personal/ joint) with the Bank within a period of 6 months preceding the account opening date.
For Reward 4, New Customers who successfully apply for Hang Seng MPOWER Card or University / College Affinity Credit Card on or before 31 May 2023 are entitled to USD25 cash rewards.
For Reward 5, New Customers who activate Savings Planner via Hang Seng Personal Banking mobile app within the Promotion Period are entitled to USD25 cash rewards.
Customers must maintain a valid Preferred Banking account at the time the relevant cash rewards are being awarded. If customers have terminated the relevant Preferred Banking or changed such account to a non-Preferred Banking at the time when rewards are being awarded, the Bank reserves the right to deduct from any accounts of the customers maintained with the Bank an amount equivalent to the value of the reward without prior notice.
The Bank reserves the right to credit the relevant cash rewards in Hong Kong Dollars equivalent without prior notice.
For any enquiries about Preferred Banking Account Opening Reward entitlement, eligible customer should contact the Bank on or before 31 March 2024, otherwise the customer shall be deemed to have forfeited the entitlement, if any, for the Reward and the Bank accepts no responsibility or liability under such circumstances.

Terms and Conditions of other Rewards and Privileges:

Securities Services Offer
The promotion period for all securities offers is from 1 January 2023 to 31 March 2023. For offer details, please contact the Bank staff or visit . Terms and conditions apply.
SimplyFund Rewards
The promotion period for the SimplyFund Rewards offer is from 1 January 2023 to 31 March 2023. This offer cannot be enjoyed together with Reward 2 set out in the “Preferred Banking Account Opening Reward”section above. Eligible customer can only receive either reward in respect of the same fund subscription, whichever is higher. For offer details, please contact our branch staff or visit . Terms and conditions apply.
Savings Planner
Please visit for Savings Planner service details.
Hang Seng MPOWER Card Welcome Offer
The promotion period is from now till 31 March 2023. For Eligible Customers who have successfully applied for Hang Seng MPOWER Card principal card during the Promotion Period, and whose applications are successfully approved and have fulfilled the designated spending requirements of welcome offer on or before 30 April 2023, are entitled to up to $700 Cash Dollars. Terms and Conditions apply. For details, please contact our branch staff or visit . When customer achieve the designated spending requirement, the Bank will credit the relevant Cash Dollars to the relevant principal card account of the Eligible Customers within 3 months upon fulfillment of spending requirement(s). The Preferred Banking of Eligible Customers must remain valid, and the relevant credit card account must be still valid and in good standing when the Cash Dollars are granted.
University / College Credit Card Welcome Offer
The promotion period is from now till 31 March 2023. For Eligible Customers who have successfully applied for Hang Seng University/College Credit Card principal card during the Promotion Period, and whose applications are successfully approved and have fulfilled the designated spending requirements of welcome offer on or before 30 April 2023, are entitled to up to $600 Cash Dollars. Terms and Conditions apply. For details, please contact our branch staff or visit . When customer achieve the designated spending requirement, the Bank will credit the relevant Cash Dollars to the relevant principal card account of the Eligible Customers within 3 months upon fulfillment of spending requirement(s). The Preferred Banking of Eligible Customers must remain valid, and the relevant credit card account must be still valid and in good standing when the Cash Dollars are granted.
Exchange Currencies at Bank’s Cost Price
The promotion period is from 16 January 2023 to 31 March 2023. For exchange with designated transaction amount by Eligible Customers. “Bank’s Cost Price” refers to the exchange rate for foreign exchange without any sales margin normally charged by the Bank. Other mark-up applied to the exchange rate for operational reasons however will not be waived. This offer is not applicable to foreign exchange transaction(s) involving notes exchange, cash deposit, notes withdrawal, inward/outward remittance, Overseas Transfer Service, FX Order Watch Service and foreign exchange transaction(s) made on pre-defined dates by way of forward dated instruction(s).Terms and Conditions apply. For the definition of Eligible Customers and the offer details, please contact our branch staff or visit .
Foreign Currency Time Deposit Interest Rate of up to 13% p.a.
The promotion period is from 3 January 2023 to 31 March 2023. For exchange of designated currencies and set up of 1-week time deposit in the same currecncy at the same time with designated transaction amount. The offer’s interest rate is quoted with reference to the interest rates offered by the Bank on 3 January 2023 and is for reference only. The relevant interest rates will be subject to revision based on the prevailing market conditions. The offer is not applicable to the pending and the renewal of time deposit and the transaction(s) via FX Order Watch Service, Virtual Assistant HARO services and Passbook Savings Account. Terms and Conditions apply. For details, please contact our branch staff or visit .
Customer Referral Offer
The Promotion Period of this offer is from 1 January 2023 to 31 March 2023. Terms and Conditions apply. For details, please contact our branch staff or visit .
FPS and Online Bill Payment Service Reward
The Promotion Period of this offer is from 1 January 2023 to 31 March 2023. Terms and Conditions apply. For details, please contact our branch staff or visit .

Risk Disclosure of Investment Fund

Investors should note that all investments involve risks (including the possibility of loss of the capital invested), prices or value of investment fund units may go up as well as down and past performance information presented is not indicative of future performance. Investors should read carefully and understand the relevant offering documents of the investment funds (including the fund details and full text of the risk factors stated therein) and the Notice to Customers for Fund Investing before making any investment decision. Investment funds are investment products and some may involve derivatives. Investors should carefully consider their own circumstances whether an investment is suitable for them in view of their own investment objectives, investment experience, preferred investment tenor, financial situation, risk tolerance abilities, tax implications and other needs, etc., and should understand the nature, terms and risks of the investment products. Investors should obtain independent professional advice if they have concerns about their investment.

Risk Disclosure of SimplyFund Account

Investors should note that all investments involve risks (including the possibility of loss of the capital invested), prices or value of investment fund units may go up as well as down and past performance information presented is not indicative of future performance. Investors should read carefully and understand the relevant offering documents of the investment funds (including the fund details and full text of the risk factors stated therein) and the Notice to Customers for Fund Investing before making any investment decision. Investment funds are investment products and some may involve derivatives. Investors should carefully consider their own circumstances whether an investment is suitable for them in view of their own investment objectives, investment experience, preferred investment tenor, financial situation, risk tolerance abilities, tax implications and other needs, etc., and should understand the nature, terms and risks of the investment products. Investors should obtain independent professional advice if they have concerns about their investment.
Not all of the investment funds that are distributed by Hang Seng Bank Limited (the “Bank”) are available here. Only specific funds are available for subscription with this account. If you are looking for other investment funds or investment products, please visit our branches or our websites for more information.
In respect of the investment funds available for subscription with this account at the moment, they are provided either by the Bank's wholly owned subsidiary, Hang Seng Investment Management Limited, or by the Bank's affiliates HSBC Global Asset Management (Hong Kong) Limited.

Important Risk Warnings in relation to Securities Investment

Investors should note that investment involves risks. The prices of securities fluctuate, sometimes dramatically. The price of a security may move up or down, and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of buying and selling securities.
Investors should note that investing in different Renminbi-denominated securities and products involves different risks (including but are not limited to currency risk, exchange rate risk, credit risk of issuer / counterparty, interest rate risk, liquidity risk (where appropriate)). The key risks of investing in securities via the Stock Connect Northbound Trading include:
- Once the respective quota is used up, trading will be affected or will be suspended.
- Stock Connect Northbound Trading will only operate on days when both markets are open for trading and when banks in both markets are open on the corresponding settlement days. Investors should take note of the days the Stock Connect Northbound Trading is open for business and decide according to their own risk tolerance whether or not to take on the risk of price fluctuations in securities during the time when Stock Connect Northbound Trading is not trading.
- When a security is recalled from the scope of eligible securities for trading via Stock Connect Northbound Trading, that security can only be sold but NOT bought.
- Investors will be exposed to currency risk if conversion of the local currency into RMB is required.
Foreign securities carry additional risks not generally associated with securities in the domestic market. The value or income (if any) of foreign securities may be more volatile and could be adversely affected by changes in many factors. Client assets received or held by the licensed or registered person outside Hong Kong are subject to the applicable laws and regulations of the relevant overseas jurisdiction which may be different from the Securities and Futures Ordinance (Cap.571) and the rules made thereunder. Consequently, such client assets may not enjoy the same protection as that conferred on client assets received or held in Hong Kong.
Investors should not only base on this material alone to make any investment decision, but should read in detail in the relevant risk disclosure statements. The information contained herein is for general information and reference purposes only and is not intended to provide professional investment or other advice. It is not intended to form the basis of any investment decision. You should not make any investment decision based solely on the information and services provided herein. Before making any investment decision, you should take into account your own circumstances including but not limited to your financial situation, investment experience and investment objectives, and should understand the nature, terms and risks of the relevant investment product. You should obtain appropriate professional advice where necessary.

Risk Disclosure of Exchange Traded Fund ("ETF") investment

Investors should note that ETF is different from a typical unit trust and many factors will affect its performance. In general, the market price per ETF unit may be significantly higher or lower than its net asset value per unit due to market demand and supply, liquidity, and scale of trading spread in the secondary market and will fluctuate during the trading day. ETF is different from stocks, investors should read the offering documents of the relevant ETF and understand the features and risks of ETF etc.

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.