Hang Seng Preferred Banking Welcome Offers Promotion(October - December 2021) – Terms and Conditions

General Terms and Conditions:

  1. Unless otherwise specified, the promotion period of Hang Seng Preferred Banking Welcome Offers Promotion is from 1 October 2021 to 31 December 2021, both dates inclusive (“Promotion Period”).
  2. 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”).
  3. 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.
  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 provision 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.

Preferred Banking Mobile Account Opening Reward:

  1. Unless otherwise specified, the offers are only applicable to customers who meet the account opening requirements and have newly opened an Integrated Account of Preferred Banking (“Preferred Banking”) through Hang Seng Personal Banking mobile app during the period from 1 October 2021 to 31 December 2021(the “Eligible Customers”), but excluding:
    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 during the period from 1 April 2021 to 31 December 2021; or
    3. customers whose any accounts have been terminated in any period
  2. Eligible Customers open an account via Hang Seng Personal Banking mobile app, and Mobile Account Opening is only applicable to customers who do not hold any Hang Seng Bank accounts, including but not limited to:
    1. Savings / Current Account (including passbook and statement savings account)
    2. Integrated Account
    3. Credit Card Account
    4. Business Account
    5. Joint-named Account
    6. Mortgage Plan
    7. Safe Deposit Box Services
  3. Mobile Account Opening is only applicable to customers who fulfil all of the below criteria:
    1. Aged over 18 and under 65
    2. A permanent Hong Kong resident
    3. Not a US citizen or tax resident
    4. Residing in Hong Kong (with current residential and correspondence address(es) in Hong Kong)
    5. Currently located in Hong Kong
  4. In case the relevant Preferred Banking is a joint-named account, only the primary account holder can enjoy the offers.
  5. The Total Relationship Balance is the monthly aggregate balance of the daily average of all deposits, gold accounts, securities, investment funds, utilized overdraft facilities, credit card cash advances, outstanding balance of personal loans and the accumulated premiums paid for the designated life insurance plans distributed by the Bank as an agent as well as Hang Seng MPF balance. For sole-named Integrated Account holders, their other joint-named account(s) will also be included.
  6. The offers are not applicable to commercial customers.
  7. During the Promotion Period, new Eligible Customers who successfully opened Preferred Banking through Hang Seng Personal Banking mobile app and completed e-Banking registration besides bringing in new fund with a valid email address and opt-in for e-statement service/e-Advice service can enjoy up to HKD500 cash reward (““Total Relationship Balance” Reward”).
  8. Eligible Customers can enjoy the respective cash reward if he / she brings in designated “Total Relationship Balance” Growth amount shown in the below table on/ before the last day of the month subsequent to the account opening month and maintains the “Total Relationship Balance” Growth amount for the second, the third and the fourth months after the month of account opening month. “Total Relationship Balance” Growth means the “Total Relationship Balance” in the second, the third and the fourth month after the month of account opening month maintained by Eligible Customer in excess of his/her “Total Relationship Balance” in the month prior to the account opening month. In case the “Total Relationship Balance” Growth amount recorded for the second, the third and the fourth months after the month of account opening month is different, the cash reward entitled will be determined based on the lowest “Total Relationship Balance” Growth amount accordingly. For Eligible Customers who did not hold any account with the Bank in the month prior to the account opening month, his/her “Total Relationship Balance” amount maintained in the month prior to the account opening month will be treated as Zero.
  9. Eligible Customer must have registered for Hang Seng Personal e-Banking in order to enjoy the respective cash reward.
  10. Eligible Customers must fulfill the “Total Relationship Balance” requirement of HKD10,000 or above for the second, the third and the fourth months after the month of account opening in order to enjoy the Total Relationship Balance Reward.

    “Total Relationship Balance” Reward::

    Designated Total Relationship Balance Growth Amount

    Cash Reward Entitlement

    HKD50,000 or above

    HKD500

    HKD20,000 – HKD49,999

    HKD300

    HKD10,000 – HKD19,999

    HKD100

  11. For Eligible Customers who have opened a new Preferred Banking Account during the Promotion Period, relevant cash reward will be credited in Hong Kong dollars into the relevant Preferred Banking Account of the Eligible Customers on or before 30 June 2022. Eligible Customers must not terminate nor downgrade the accounts on or before 30 June 2022 in order to enjoy the cash reward.

    Time Table Illustration:

    Date of opening Preferred Banking

    (both dates inclusive)

    Month of comparing designated “Total Relationship Balance” Growth Amount

    Fund-in/ deposit designated “Total Relationship Balance” Growth amount

    Month for which designated “Total Relationship Balance” Growth Amount and “Total Relationship Balance” requirement must be maintained / fulfilled

    Date of “Total Relationship Balance” Cash Reward rebate

    1 to 31 October 2021

    September 2021

    On or before 30 November 2021

    December 2021, January and February 2022

    On or before 30 June 2022

    1 to 30 November 2021

    October 2021

    On or before 31 December 2021

    January, February and March 2022

    On or before 30 June 2022

    1 to 31 December 2021

    November 2021

    On or before 31 January 2022

    February, March and April 2022

    On or before 30 June 2022

    Example: Assuming the Eligible Customer opened Preferred Banking in October 2021 and did not hold any account with the Bank in the month prior to the account opening month. Therefore, his/her “Total Relationship Balance” (TRB) is HKD 0 in September 2021 (the month prior to the account opening month):

     

    TRB in December 2021
    (HKD)

    TRB in January  2022 (HKD)

    TRB in February  2022 (HKD)

    Lowest TRB Growth Amount

    (HKD)

    Cash Reward

    Entitlement
    (HKD)

    Scenario 1

    50,000

    60,000

    70,000

    50,000

    500

    Scenario 2

    30,000

    25,000

    30,000

    25,000

    300

    Scenario 3

    18,000

    17,000

    13,000

    13,000

    100

    Scenario 4

    20,000

    30,000

    9,000

    9,000

    Not Applicable

    (Failure to fulfil the requirement of Total Relationship Balance Growth Amount at HKD10,000 or above)

  12. Each Eligible Customer can enjoy the “Total Relationship Balance” reward once only.
  13. If Eligible Customers newly open more than one Preferred Banking, including any sole-named or joint-named account, during the Promotion Period, entitlement to the offers will be based on the Preferred Banking with the earliest account opening date.
  14. If Eligible Customers newly open to both Prestige Banking and Preferred Banking during the Promotion Period and fulfill the “Total Relationship Balance” reward requirement of Prestige Banking, entitlement to “Total Relationship Balance” rewards will be based on Prestige Banking, and the relevant rewards of Preferred Banking will not be applicable.
  15. Eligible Customers must maintain a valid Preferred Banking account at the time the Preferred Banking Mobile Account Opening Reward is being awarded. If Eligible Customers have terminated the relevant Preferred Banking or changed such account to a non-Preferred Banking at the time when offers are being given, the Bank reserves the right to deduct from any accounts of the Eligible Customers maintained with the Bank an amount equivalent to the value of the reward without prior notice.

Mobile Account Opening Top-up Offers:

  1. Eligible Customers who open a new Preferred Banking Account through Hang Seng Personal Banking mobile app and also register/apply for designated banking services during the Promotion Period can earn up to HKD500 reward.

    Designated Banking Services

    Reward

    Savings Planner

    HKD 100 e-Cash Voucher

    Register FPS

    HKD 100 e-Cash Voucher

    Hang Seng MPOWER Card

    HKD 100 e-Cash Voucher

    SimplyFund

    HKD 100 e-Cash Voucher

    Register and Switch to Hang Seng Payroll Service

    HKD 100 Cash Reward

  2. Eligible Customers who have opened a new Preferred Banking Account and also registered / successfully applied for designated banking services (Savings Planner / Register FPS / Hang Seng MPOWER Card / SimplyFund) during Promotion Period, the Bank will send an SMS to the registered mobile number of Eligible Customer within 30 calendar days guiding the customer to redeem HKD100 e-Cash Voucher through H A R O WhatsApp.
    1. Savings Planner offer: Eligible Customers who set up a savings plan with duration of at least 3 months by logging on Savings Planner via Hang Seng Personal Banking mobile app during the Promotion Period. Please visit hangseng.com/savingsplanner for service details.
    2. Register FPS offer: Eligible Customers who open a new Preferred Banking Account and also register Hang Seng Bank as FPS default receiving bank for the first time through Hang Seng Personal Banking mobile app during the Promotion Period. FPS (Faster Payment System) is a real-time payment platform provided by Hong Kong Interbank Clearing Limited. For terms and conditions related to Faster Payment System (FPS), please visit hangseng.com/fps for details.
    3. SimplyFund offer: Eligible Customers who successfully open a new SimplyFund account through Hang Seng Personal Banking mobile app during the Promotion Period.
    4. Hang Seng MPOWER Card offer: Eligible Customers who successfully apply for Hang Seng MPOWER Card and whose applications are successfully approved during the Promotion Period.
    5. When redeeming the e-Cash Voucher, the personal account in the Bank and the e-Banking service of Eligible Customers shall still remain effective in order to receive the e-Cash Voucher. If any Eligible Customers have cancelled the relevant account or the e-Banking service by the time the e-Cash Voucher is being redeemed, such Eligible Customers shall be disqualified without further notice and the e-Cash Voucher will be considered as forfeited.
  3. Eligible Customers who have opened a new Preferred Banking Account through Hang Seng Personal Banking mobile app, successfully registered for the payroll service promotion and switched to Hang Seng Payroll Service by meeting the respective requirements within Promotion Period are entitled to HKD100 Cash Reward. For details and requirements regarding the registration and switching to Hang Seng Payroll Service, please visit the webpage of payroll service promotion at hangseng.com/payroll. The relevant cash reward will be credited in Hong Kong dollars into the relevant Preferred Banking Account of the Eligible Customers on or before 30 June 2022. Eligible Customers must not terminate nor downgrade the accounts on or before 30 June 2022 in order to enjoy the cash reward.
  4. Eligible Customers must maintain a valid Preferred Banking account at the time the Mobile Account Opening Top-up Offers are being awarded. If Eligible Customers have terminated the relevant Preferred Banking or changed such account to a non-Preferred Banking at the time when offers are being given, the Bank reserves the right to deduct from any accounts of the Eligible Customers maintained with the Bank an amount equivalent to the value of the reward without prior notice.
  5. Each Eligible customer can enjoy the reward once only. In case the relevant Preferred Banking is a joint named account, only the primary account holder can enjoy the offers.
  6. In case of any disputes, the Bank’s records shall be final and conclusive.

Extra Offer for Full-time University / Tertiary Students

  1. Full-time University / Tertiary Students who open a new Preferred Banking Account through Hang Seng Personal Banking mobile app and apply for a University / College Affinity Credit Card or Hang Seng MPOWER Card, whose applications are successfully approved during the Promotion Period can earn up to HKD200 extra reward.

    Full-time University / Tertiary Students Extra Offer

    Reward

    Open a new Preferred Banking Account via Hang Seng Personal Banking mobile app

    HKD 100 e-Cash Voucher

    Successfully apply for Hang Seng MPOWER Card or University / College Affinity Credit Card

    HKD 100 Cash Reward

  2. The offer is only applicable to a full-time university / tertiary student, who is aged 18 or above and attending certificate level or above course offered by following accredited education institutions and their subsidiaries, including: accredited universities in Hong Kong, Chu Hai College of Higher Education, Vocational Training Council, Hong Kong Institute of Vocational Education, The Hong Kong Academic of Performing Arts, Caritas Institute of Higher Education, Caritas Bianchi College of Careers, Hong Kong Institute of Technology, Hong Kong College of Technology/HKCT Institute of Higher Education, Centennial College, Tung Wah College, UOW College Hong Kong, Hong Kong Nang Yan College of Higher Education, Caritas Institute of Community Education, Hong Kong Art School, Gratia Christian College and Yew Chung College of Early Childhood Education (“Eligible University/ Tertiary Students”). Eligible University/ Tertiary Students are required to present HKID identity copy, valid Student ID Cards or related supporting document upon application of designated Hang Seng Credit Card at branch. Eligible University/ Tertiary Students must maintain their occupation status as “Students” in the Bank’s record to enjoy the above rewards.
  3. For Eligible University/ Tertiary Students who open a new Preferred Banking account via Hang Seng Personal Banking mobile app during the promotion period, the Bank will send a SMS to the registered mobile number of the customer within 30 calendar days of successful account opening, guiding the customer to redeem HKD100 e-Cash Voucher through H A R O WhatsApp.
  4. For Eligible University/ Tertiary Students who apply for Hang Seng MPOWER Card or University/ College Affinity Credit Card and whose applications are successfully approved, after opening a new Preferred Banking Account via Hang Seng Personal Banking mobile app during the Promotion Period are entitled to relevant Cash Reward. The relevant cash reward will be credited in Hong Kong dollars into the relevant Preferred Banking Account of the Eligible University/ Tertiary Students on or before 30 June 2022. Eligible University/ Tertiary Students must not terminate nor downgrade the accounts on or before 30 June 2022 in order to enjoy the cash reward.

Important Notes for offers redemption via H A R O WhatsApp

  1. Eligible customers who have opened a new Preferred Banking Account and also registered / successfully applied other banking services will receive an SMS from the Bank regarding the Welcome Reward within 30 calendar days, such SMS contains the registration website and redemption code. Eligible Customer must follow the instruction as stated on the SMS to register H A R O on WhatsApp and redeem e-Cash Voucher at H A R O on WhatsApp.
  2. Eligible customer must be aged 18 or above whose WhatsApp mobile number is with the area code of “+852” and access within Hong Kong Area, also successfully register and
    use H A R O WhatsApp.
  3. By completing registration at H A R O WhatsApp, this indicates Eligible Customer agrees to the terms set out in the Hang Seng Virtual Assistant on WhatsApp Terms and Conditions (for details, please visit hangseng.com/en-hk/personal/digital/haro/). Eligible Customer cannot redeem the reward if he/she does not agree with the Hang Seng Virtual Assistant on WhatsApp Terms and Conditions.
  4. Eligible Customer needs to go through the link provided by H A R O WhatsApp to a third-party website to receive the e-Cash Voucher.
  5. In any condition, e-Cash Vouchers are non-redeemable for cash and will not be re-issued if deleted, lost, damaged or unused after expiry.
  6. After downloading the e-Cash Voucher, the customer can redeem the e-Cash Voucher rewarded by presenting it to the relevant merchant on or before the expiry date shown on the e-Cash Voucher. Any expired e-Cash Voucher will not be accepted or replaced.
  7. Each e-Cash Voucher can only be used once and will expire once used. Payment must be made for any spending amount exceeding the face value of the e-Cash Voucher, while no change will be given when the spending amount is less than its face value. The merchants reserve the right of final decision on determining the validity of any e-Cash Voucher. 
  8. The Bank is not the supplier of the e-Cash Voucher and will therefore not be responsible for any liability relating to the e-Cash Voucher. Any matters with regards to the quality and availability of the product(s) and/or service(s) relating to the e-Cash Voucher will be the sole obligations of the supplier of the e-Cash Voucher. Any disputes or complaints relating to the e-Cash Voucher shall be resolved directly between the customers concerned and the supplier. For the details of how to use the e-Cash Voucher, please refer to the terms and conditions shown/printed thereon.

Terms and Conditions of other Rewards and Privileges

  1. 2.68% p.a. HKD Savings Deposit Bonus Interest Rate Offer

    The promotion period is from 1 October 2021 to 31 December 2021. Terms and Conditions apply. For details, please contact our branch staff or visit hangseng.com/depositspromo3.

  2. Payroll Service Welcome Reward Promotion

    The promotion period is from 1 October 2021 to 31 December 2021. Terms and Conditions apply. For details, please contact our branch staff or visit hangseng.com/payroll.

  3. Hang Seng MPOWER Card Reward

    The promotion period is from 1 October 2021 to 31 December 2021.Terms and Conditions apply. For details, please contact our branch staff or visit hangseng.com/mpower.

  4. University/ College Affinity Credit Card Welcome Offer

    The promotion period is from 1 October 2021 to 31 December 2021.Terms and Conditions apply. For details, please contact our branch staff or visit hangseng.com/ucardspromo.

  5. SimplyFund Reward

    The promotion period is from 1 October 2021 to 31 December 2021. Investment involves risks, Terms and Conditions apply. For details, please contact our branch staff or visit hangseng.com/simplyfundoffer.

  6. Foreign Exchange Reward

    The promotion period is from 1 October 2021 to 31 December 2021.Terms and Conditions apply. For details, please contact our branch staff or visit hangseng.com/forexoffer.

  7. Securities Services Offer

    The promotion period is from 6 September 2021 to 31 December 2021. The offer for HK stocks/ Stock Connect Securities transactions are only applicable to New Securities Customers (including all the account holders of the New Securities Account) meaning customers must not hold any securities account (personal/ joint) with the Bank within a period of 6 months preceding the account opening date. Investment involves risks, Terms and Conditions apply. For details, please refer to hangseng.com/stockoffer.

Risk Disclosure of SimplyFund Account

  • Investors should note that all investments involve risks (including the possibility of loss of the capital invested), prices of 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 fund’s offering documents (including the fund details and full text of the risk factors stated therein (in particular those associated with investments in emerging markets for funds investing in emerging markets)) before making any investment decision.
  • Not all of the investment funds that are distributed by Hang Seng Bank Limited (the “Bank”) are available in SimplyFund Account. 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 by the Bank’s wholly owned subsidiary, Hang Seng Investment Management Limited.

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.

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.

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 A-shares of Stock Connect Northbound Trading include:

  • Transactions under the Northbound or Southbound Trading of Shanghai-Hong Kong Stock Connect / Shenzhen-Hong Kong Stock Connect will not be covered by the Investor Compensation Fund in Hong Kong.
  • 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 some stocks are recalled from the scope of eligible stocks for trading via Stock Connect Northbound Trading, the stocks 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.